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Introduction to Managerial Accounting

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Management Accounting plays an important role in most organizations yet it is often misunderstood by those not directly employed or involved with management accountants.

Using the website below, discuss the role and responsibilities of the Management Accountant.

http://www.imanet.org/ima_home.aspx

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Your response is 583 words (just over two pages double-spaced) and discusses the three main roles and responsibilities of management accountants with two references.

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The modern management accountant provides critical support for strategic goals of an organization in an expert, ethical, and professional way. Management accountants typically far outnumber financial accountants and auditors but are less visible because they focus on internal goals of the business rather than providing assurance services and financial statements for stakeholders and public markets. The roles and responsibilities can span a large range for management accountants, often customized based on the type of product, the organization's structure, and the life cycle of the firm. With the help of a management accountant, decision-makers find out the results of past activities, make informed predictions about future events, and monitor activities to be sure they comply with policies and sound business practices.

While the roles and responsibilities of management accountants very considerably from position to position and firm to firm, there are some typical activities generally found in each organization. For example, management accountants monitor and report business performance. This can take several forms, such as creating ...

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Carol Sargent, PhD
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  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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