Saturday, December 7, 2019
Advanced Management Accounting for Accountant -myassignmenthelp
Question: Discuss about theAdvanced Management Accounting for Management Accountant. Answer: Role of Management Accountant The management accountant have long term goals in accordance to which they are able to function in the next five years and accordingly construct plans and policies that would be useful for the coming 5 years. The essential role of the management accountants involve undertaking effective decisions with the help of which the accountants are able to construct goals and thereby is able to undertake the process of controlling and directing. In the current time period, the management accountants are not only the providers of the information, but they are the decision makers and plays a key part in the management team as they are able to provide essential internal facts and figures to the upper level management so that the company functions in an effective and efficient manner (Mitter, Hiebl 2017). The accountants even have the role of planning, which is related to creating objectives and goals for the company and ascertaining the process with the help of which they would be able to fulfil them by choosing a distinct action incorporation. The other role associated to the management accountants involve the direction the activities of the company with the help of which they are able to administer and manage the day to day activities of the company in order to attain the goals of the organization. The management accountants even has the role of controlling, which is related to assessing the outcome of the operations of the business in accordance to the plans and undertaking adjustments in order to keep the organization pressing towards their pre-determined goals (Mistry et al., 2014). These are the long term goals for the management accountants and their roles are related to the various departments that are operational within the organization.b Reference List Mistry, V., Sharma, U., Low, M. (2014). Management accountants' perception of their role in accounting for sustainable development: An exploratory study. Pacific Accounting Review, 26(1/2), 112-133. Mitter, C., Hiebl, M. R. (2017). The role of management accounting in international entrepreneurship.Journal of Accounting Organizational Change,13(3), 381-409.