In the context of accounting, the word "management accounting" refers to the process of producing records of this kind. The quantitative and financial information that is offered in these reports has the potential to influence decisions that are both immediate and potentially far-reaching for the firm. Neither "management accounting" nor "financial accounting" are interchangeable terms; they are distinct concepts. In contrast to financial accounting, management accounting is a type of accounting that tries to provide reports on a weekly and monthly basis for the purpose of providing information.
What are the three most important things that management accounting is?