Managerial accounting is used by managers to measure internal metrics to find information to help with the strategy of a company. If you were to start a business, talk about how managerial accounting would help you in your own company. Why is it important to use managerial accounting?

Contribution margin is a very important metric that looks at the profitability of a company. When looking at contribution margin, how is it comparable to gross profit? Also explain the importance of contribution margin.