After reading what was provided in the module and doing my own research I now have a better understanding of what managerial accounting entails. As stated in the module, managerial accounting emphasizes analysing, collecting, and interpreting economic information from the company for the purpose of management's decision-making. Although both managerial and financial accounting can have many similarities, managerial accounting is strictly for internal use; while financial accounting focuses on the collection of accounting information to create financial statements(Strydom, 2022). Overall, managerial accounting is useful since it helps managers make informed decisions within the company.