Managerial accounting - is primarily an internal accounting, which is regulated only by internal ordersof top management. The data and results of management accounting is a commercial secret and not it can noy be communicated to representatives of government or other bodies except the cases that are specifically stipulated by the legislation.

Managerial accounting involves recording of all events, which one way or another affect the financial and economic activity. There are no provided law sanctions for the lack of managerial accounting. Management Accounting - a special system of representation and processing of information, which is often characterized by unique requirements and serves as a link in the process of financial-economic activity.