This board includes a MPU-6050 6-Axis Motion Processing Unit, a 2.5V voltage regulator, and the logic level converter circuit to makes it work under the power of 3V-5V. Based on its I2C communication protocol, you can use very few wires to connect it with a 3V-5V MCU directly.
The MPU-6050 sensor contains a MEMS accelerometer and a MEMS gyro in a single chip. It is very accurate, since it contains 16-bits analog to digital conversion hardware for each channel. Therefor it captures the x, y, and z channel at the same time.