This article discusses the significance of managerial accounting for organisations, comparing it to finance bookkeeping, and evaluating budgetary control reporting methodologies. It also covers the compilation of income statements using cost analytical methods. The subject is relevant to students studying management accounting and related courses. The article is based on a case study of Capital Joinery Limited, a UK-based company. Desklib provides study material with solved assignments, essays, and dissertations for various subjects and courses.