What is management accounting?

According to the Chartered Institute of Management Accountants (CIMA), Management Accounting is “the process of the recognition, measurement, collect, study, research, analysis and dissemination of information using the management to plan, evaluate and control within the body and to ensure the appropriate use of and accountability for its resources. Management accounting also comprises making statements outside groups management, such as shareholder, creditor, regulatory and tax authorities “(CIMA Official Terminology) The American Institute of Certified Public Accountants (AICPA) states that management accounting as practice covers the following three areas:

– Strategic Management-enhancing role of the management accountant as a strategic partner in the business.

– Performance Management-developing execution decision making and performance management organization.

-. Risk Management which provide the framework and practices for identifying, measuring, managing and reporting risk to achieve the goals of the organization

the role of management accounting

Management accountants have a dual reporting relationship. As a strategic partner and provides decision based financial and operational information, management accountants are responsible for managing the business team and at the same time having to report relationships and responsibilities to fund the establishment Corporation.

break down costs or outflow operations and processes to smooth the progress of cost control at every level of the synthetic environment, also suggest alternatives to improve the productivity of the company to collect the maximum profit / success.

management accountants must develop a standard for all work areas and to assess the actual standards within the sector, to ensure the best implementation of available resources in the economy and Identify areas Wastages, leaks, ineffective and invisible losses the company has covered in the last view years.

The auditor shall send Informatic tools for well organized management information system to keep the business up to date with the latest resort in the economy, promote Total Quality Management (TQM) assist in decision-making at all levels of management of the particular company.

What management accountants do?

Also known as corporate accountants, management accountants working within a company. They perform a series of tasks to ensure the financial security of the company’s handling virtually all financial and thus helping to drive overall management and strategic planning of the company’s skills to what they can.

liability management accountant can be a variety of things, depending on the company you work for, the level of the management company auditor experience, time of year and type of industry management accountant is, you may find yourself doing anything from budgeting, handling taxes , manage assets to determine compensation, benefits package and to assist in planning.

objective accounting

1. Formulate strategies to achieve their goals as fast as possible, but thorough.

2. Planning and building activity to keep the business up and running for it to heal.

3. Helps to make the financial decisions of the company, using methods to achieve their goal.

4. The optimal use of resources (making use of all the resources one can find as the Internet, books and own knowledge)

5. Support interim. preparation (you can also give meaning about the topic discussed by giving vision point).

6. Safeguard property.