Managerial accounting is defined as of the process of establishing organisational goals through the identification, measurements, analysis and interpretation of important financial information.  At its core, management accounting concerns the detailed and ongoing analysis of an organization’s financial activities and performance.  Where managerial accounting practices are effective, they enable the company and its stakeholders to make educated and informed decisions.  Ultimately, successful management accounting enables a business to both identify and eliminate unnecessary expenses, in order to cut costs and maximise profits.  It is a specialist field within the accountancy profession that calls for an even more analytical approach and meticulous attention to detail. For those who succeed in managerial accounting, the scope for potential high-profile job opportunities with organisations worldwide is limitless.