What type of accounting supports management in planning and evaluating operations?

Managerial accounting is specifically designed to assist management in planning, controlling, and evaluating the operations of an organization. It provides detailed financial and non-financial information that can help managers make informed decisions about budgeting, forecasting, performance evaluation, and operational strategies. Unlike financial accounting, which focuses on reporting for external stakeholders such as investors and regulators, managerial accounting is tailored for internal use, meaning that its reports provide the insights necessary for effective management decisions. This type of accounting often includes metrics related to efficiency, cost control, and variance analysis, enabling management to assess operational performance and adjust strategies as necessary to meet organizational goals. Therefore, managerial accounting is the key type of accounting that supports management in its internal decision-making processes.