Accounting management essay on: Management Accountant
Management Accountant is required to supply knowledge to the decision makers throughout the organization (Drucy, 2004). Management Accountant is required to have knowledge which helps in making decisions and maintain efficient control throughout the corporate resources. The function of management accountant is required to execute a group of tasks to ensure their financial security of the Company, handling all matters of finance and assisting to drive the overall strategy and management of the Business.
It is examined that management accountants help in increasing knowledge throughout the Company and hence minimize the uncertainty related with taking actions. Management Accountants make reports on the cost of creating goods and expenses in relation to programs on employee training (Bruns & William, 1999). In fact, reports are utilized by the management accountant to evaluate the difference among what they have estimated and what they have actually achieved (Bogsnes, 2009). Reports made by the management accountant are in more detail as compared to the traditional reports of financial accounting like ratios of balance sheet and calculations of net income (Garrison & Ray, 1996). Mangers of Management Accountant may read the summaries and efficiently investigate potential problem regions and then evaluate the details throughout those regions to find out the course of the action. For example: Product Manager may elect to modify expenditures to concentrate more on profitable items. At last, it can be said that management accountant helps in various accounting disciplines such as handling taxes, managing assets to determine benefits and compensation packages, budgets and helps in the strategic planning.
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