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Management Accounting
Unit 1 - Contents
I. BASICS OF MANAGEMENT ACCOUNTING Introduction to Management Accounting - Meaning, Characteristics, Objectives, Advantages and Limitations Distinction between Financial Accounting and Management Accounting II. MANAGEMENT ACCOUNTING SYSTEM - INSTALLATION Role of Management Accountancy department - Structure and Functions Management Accountant - Role of Management Accountant, Functions, Duties
Director Finance
Director Marketing
Director Personnel
Management Controller
Budget Controller
Internal Auditor
Credit Controller
Management Accounting
Data
Process
Feed Back
Management Accountant
A person responsible for the supply of accounting information to management is known as management accountant. He is known by different names in different organization, i.e., Controller, Comptroller, Chief Accountant, Financial Adviser, Financial Controller, etc., Management Accountant is an officer who is entrusted with Management Accounting function of an organization. Tandon has explained the position of Management Accountant as follows: The management accountant is exactly like the spokes in a wheel, connecting the rim of the wheel and the hub receiving the information. He processes the information and then returns the processed information back to where it came from.
Management Accountant
Functions of the Management Accountant: Planning and Control Reporting Evaluating Administration of Tax Appraisal of External Effects Protection of Assets
Management Accountant
Duties of the Management Accountant: Collection of Information Evaluation of Information Interpretation of Information Reporting and Communicating Informations