SS ee EXPECTED LEARNING OUTCOMES ‘Ate staying this chapter, you shouldbe able to 1. Deserve the nate, scope, objective and responsibil of ‘management accountng. 2. Identity the major diferences and similarities between ‘management accountng and financial accounting, ‘3 Explain he rlaionship between management accounting ang coat accountng 4 Know the activites of management accountants 5. Describe the organization aspect of management accountng 6: Discs conoters expla the qualifications and funciens ‘of the controller au . ee 7. Discuss Treasurership ands major responsibilities. 8 Understand professional ethics and code of conduct fer management accountants 8. Be familiar with codes of conduct and know the eta conduct and know the typical ethical 10.Explain the objectives and the actities of the Institute of Maregerant contre an Phappine| Recoea ‘Management Accountants. a. 4 e0060 AN UvERvicW Management Accounting ad io of apropite ehniies Tin exablishing ois nip to cnsom dia a onset manage a {exsomble esonomie ojetes and fhe making of atonal View tvard abovng thse objectives esis It is the proses of Menifeion, mesenen, scumulaton. analy reantion,rrprealon ad combat offence information, WEDS Sey empty ne od ool cies AN a ‘t 5 of financial reports for Crpaniation. It also. compris the preperation of ponmanagemen groups such as shareholders, creditors, regulatory agencics and tae auhoris. Objective and Scope Objective Managenent counts ae one with proving inferation to managers tha people Inside tn eramtation who diet and contol the operations {hy pie aware of repors Se repr fos on how well managers antares wis ve peromed while er repr provide timely and ‘equ panes on ty Inara of business sation or opportanity Junaid neste pee problems Managanent accountants at aproprie levels ae involved actively inthe Meee oF munegig he en, Toe poses cles making ste acta! Tad perag deco and oping to coowinae the efforts of the entre ‘Coanbaton” The managenent atcownon pripts, es par of management, ‘Stunning ‘tate erpiation opens onied whole in ts long-run ‘emediatetnd shorten bs ersae Scope Management aca ib concede wit proving informa Margen nt Set ih ping nd tla th ope Se ae al ling A vay of magnet Econ. Gey mangement acces do tefoling wa: Serta of dn exon wc xls ath ne ‘ata pares to evalate orgaszatonal perfomance a positgg, Nt (Perpignan bt es ange a cramer a wl ficient Se renee un ping ncn ed be nd mvesigations of resing rutneitereal accounting reper ‘signal situations in which marsagement action may be requited, 7 (6) Probemsoling or qusifeion of the relative mere of Shen of sce els wsatnnio eo he bes peas ‘hiss commonly aod with ponreaing decisions. Specialy, the manage! szouant poviles 2 9)t6m Which alos ‘naenet to seve te nay Isom wel in per administrative functions of: fea aa (©) ploming wich oles stig of als for the fem, evaluating th ‘various ways to meet the goals and picking cut what appears to nf ‘best way to meet the goals; ee " a ( conrltng bi note th eaaion of waters conforms wit planned goals; and a (© deco ating vicars enna of predin nfrmat (a retest rang bigots ati ali. as wine Sasa Th sn conus conpay' gu temps ‘es el ote he pro agen ot yin ade, Ch bet, exp Pear and rt of furl fonion ae carpi combine hich Acounings An Overicn ae SE Nege counting can make in reource planing while Wetkeven al ‘rjc nae ements ae eames wel tol prafit lowe ‘como. Conta of egiztons is ahead by eating te parma, °F ‘panera the epertos er ih ty are espns. The disne ewer crating oma and ving te operons ey COWES pont Masage areas to dtemine how thle perfrmanes (Rea te rewarded or poied, whic a ton moses the operon = PPO Tovel "Basen an eration ling evodpeomaton © Tamper might eee subanal bonss compensation. An evaluation Hhlewing a‘mamges permed poet eet lead tothe manner fe in prt been evans of mangas ae (pial) ee © expen and peton operant, wages wok ard 1 eS ht they wil exve favo vl ‘cost vice aa, Fanial teens anaes, oss ait vain Seber sme oth acveting contra rat sino manatee ‘The avr wtih ae pao fer espns ae eviting frm I la The wcprs wed cate te pafomance of manag and te erin anal ae kr prformance resort. ‘Atough tre is wo geal axed method of pearing perma ‘pon ack repos uel compara of cureat corse wih pean spear or wih planed (budget) Feternaee, Pearman repre aya provi define alse, bt ‘Rep ailexweney we, Managrs on ose them 1 ag aes hat ol lor seroma tai ares tare nde con woul ot Eh cry, or explosion, depeinion or ote ‘San esaue thse co are ctor cul to or relate clase 10 the flunel eel of coi Typically, ennagers fellow the, pice of eager ty cero wn wing peormancereprs, THs means me avg deparcs om he pan tht pps 0B excetional, {Tey dont negate minor deputies foie ple Cpentinns a veld to provid information ast wheter ot hey See aa ies ean, ones, or mid in soe way) ‘Reefs ef an option ct give even when the evaluation of Je Sige pole rte option tsa postive.ee aot rae i the cnt 5 Company ps fe sly 1 in = ye ti ae a de a crt Sm te hl xr el pets ey a sere et ero ae Pi or aaa ea tej ps nt aig rd cial gue 1 pect the al Sen imple Thee mae Seer sn el pm, oc sean i ce fos til Cnc can, te go od) = eed (65 en ona i peas eee peor! jet 4 anal a St eon pss pts my be ange es ng (ng cd Si), cost oar nce pan or inprovig operation (6 tang oo et oe Te eras cmene POS ag ere Satealosng sees hn gare 1.1, Planing and Control Process — eas ‘Action taken to covsineeaepane | | _tperentpan Sense or] | Conssisen plan anh anes cl ae se deni tn Orit 7 Th conn ses manganese of he AMEE ra doo ve ed won alto Foe ee msn whch mm ips oe Teen het. rciion Maxine As iit in Fa ning snd contal poss — anges and desc ae re ‘hold fe ald new product? Sheu Sold mantra capone se i ‘Shou mehr company to prduce tbe componeat? What ‘Shoulda Firm charge fora new product? These questions indicate just # few sot tye eaten pci aber seo heme time setae sang 2g po ema me rth Sa oe em Sat cost managenent ra and employee fe summary, the management accountant develops ompeiive sod errata fr the Chef Fa) Ofer, oer MUN tant veto manage he fen and mak te fs more ssl of Financial Accounting and Management Accounting the systema recoding of business transactions, al anil eprting stenards IFRS) lading rap forth as of various need pris, ‘nancial accounting ive irveed by at feat (the preaaion of asc {teen a wellavexteseh 1 ecouning is concerned with providing Fras infomation to aoe inthe eration to cable thom ake normed deren and "recive deisons whieh frie the orgaisin' ol 91 iterences between Financial Accounting igure 1.2 summarizes the signin rencs ae cused in the follwing ni Menage Aecoustng. These ie peragapl.Giger ana Accounting FA) “eee ies ten Fa GE FA) dy ‘reming A) ea 1 Aswotie re tam bth eal (npn ag Tori omen, greene). Ry 1 ena ean fr eral Vii0 he yy con ve ancl scating is simed pil” eRema ge, Fa ea: whees amas sscung ht fae feral wot Este WE cig mir cme pees hich ed information elias eg nd gation decisions. Their info ET tom ae final ange, who ned i ‘arplantng cot, and decision making. formating 2. Ae compliance with inet Fail Reporting Se (IFRS) Pe FA: Facial sould be recored and presented in aca wir. MA Rp edt Be reed in conform {Setopomt revel daa masgenent TRS to, Mea of Gil acoaiginlomon it reat, Ss cg Coen 9) eres Sp pi tniseouis porpoise Fl preg nae Pa) res comps to tote Ov sre SEC pepe ca mcg iy meee iG toate nal stig on era comple oon ‘rina ial ange pa eos mgs nse San om FS il pve me fern inl ange Sad et lord 3. Aston ooh fe A: This eiily po Tea vin mrs of pest MA: Thishasastong fae eventin, eng coins neni 2. Fisnisl scooting ic pia coed wi pres, Foals of pt went. Managerial accounts O° 6. Ted pcs conde emphasis onthe fore. AS ines prov ene ofthe pinay purposes of maneerisl oor Floening Tics, manager scout infomation cet tit ofthe cos ad beeis of ean 4. Astotherevance and eiiiy of ts tr altuna wi trend ae peared eo Siena Fe nang ah ie nit an wa SS fe users, They contain epee fo ret the oe of ssi 7 Be rae tonne od quai, ht are evan Fe pe sian cine te i 2 ae sae tmp en sro ae ie Se oy harem raisons so ci et rt so, Sar tease cers Spars cc hve no serra ao waa Pc teases Sad i 2 Nehly '. Astocmplsison pression and tities of port FAL Reports ae sll sf even if sib Ie and show ‘Sauures of Fnac sonequences of actual and past ties wre recon equ MA: Tins is fin more inporta thn precision mana Prom ssbmissn of ie ep is necessary (0 peeve (efuecas and god ents may be enough to she sod ‘einsenn 0 6 Aston wth porting fo PA Tipit cneied A POE FF coy vot ing onthe puts 0 ORME Ge (MA This focuses reporing Jepartments) of . a rer EN) fo or eomplnce wt Ar This is requed by aw as exemplified by the 1 en ft BIR, SEC and the goverment ete MA: Thi ot mandy Sires Retwen Fanci and Managerial ACcouting ‘he ees ce alsin ae manger ai rest teapcive wer gap shou ot be OveTemDhsied Fh emo he riya xl rs, snd mec ree i nel ph eal mer Hower SECESIEE a froeat sming por, and cael Sects epee il oon at pelea Seopa cn te Terence way tk tng Fess tnacicdcxntne ppd, Acompaten faa Ce petacatagitane meter 17 Astorequienet Relationship been Management Accounting and Cost Accounting Cos occu i a teat tof pede Fe recording and epi snesurenents ofthe cos of manafictrng pods and performing serves inte pepe ant in deal ieudes matoae for recognizing, cleiing losing, agen sd repoing sich costs and comparing them ih sends cose Aug act weighs rn its i Se ak oo Elomi th sang ey san poe Ti et eS egies eons Neti ata ons eo ek orien ae eae a ‘eteaagdn a fe nc See a ‘sent race eee eee ment Accounting Compared ‘Figure 12, Finansa Acnaeting and Manage Focal pron 8 Management ‘sora Raunt maar win fipoeaion o> Deng a abn ener Peters evaeon isis onto aitteded in decsenskng- + Eee ieonsumeniest + Imealeesegnes pst snie + object ane fs» Retna emphasized Sesoohe. + Paton oman + Tne f eooatin ie resin + On sma date + beisedengment eps abot Cecrmntaton se peies. "nue ras, ‘Somer an pgs ate Free. + Me ew, + No oti RS. + Mindy fretamalpets. + Netandome + —— niet east acount aaron vi Pi Peg soe et te eer ai ine ncn ea pangs A me ele te ak Some SS samo ee a ilenmine ets ecg sf cn, hme cut Aon. in et Pg ceria, dings with government sttoris, sed other mater, Serene acomman ke er staff manages, OREO etomImend cour eeene w erton, a mte he meager wc se ne corinne Te a ee ete al eeermn ation een Ste ape mage thrown apne Management aecurtanis charge tir responses and achieve thie cijectves by orig ad implementing aves the following categories’ 1. Penning = Ts hes unig dining te fc te Senin of ped leon aioe sens The Puming penny. sikh heer seg, cal tnd pea ‘res act rd ne Hew omen rot ite ping ines paricaon ‘cose Be rng em, sng ete gel ad Sei ‘ipopiae nee eee ti pogestonan te al Aen pig i ws ral ad ect mb in Sa once msn apes, Tien pee ny ne aa a ‘Sromtme ‘The reports may concern financial, physical, end hurran | ‘Soon nip mea a pei ns enka a en ma Shonen ey ones tates weston a 3. Conoting — Manage era norton pet Sho commoieste the micas of the ‘ig eae ail. Meme Uncen both he sources andes ofthe nforaten Jie opiates fir an expected evens and eli ES Keon course of ation vali isdes ans en Naapnent ounnts mst SONU = irony ciesjear derived from the analyses: TRE ‘tetnay and prom he conto The coat acaba asus he iverty of Sati ifort ceca maton cy ‘enwringpereonnce and indcing any core iy to sided course, Mage! enous provide he use oF cron the ‘Efoaton to exceutves operating facto ares who 20M itt ater desiable perfomance of reporting Resource Management ~ This aves implementing 238%. Tract signed wah rpanton! responsi, Tis reporting OT ‘Mil ontibare te the effective woe of resources and_ measurement TRatagomenpefrmance, The transmission of managemer's goals and Gyeenies"Ueoughou the rganinaion inthe fom of assaned Siecbtiier i bass ee Memiying accounably. | Management [Steams must provide an secoeting and reporting system that will ‘Soule and epr appropri revenses expenses aes, ibis and ‘Sted gosta nlomato 9 snnagers. Managers then wil ave beter nol ovr thee coment, Management accountants must establish ‘Sats whch fala plamig and contol ofthe organization's resources (Bec tater use isconiet with enabled polices, These systems tho sould meat he ness of magn, ivestors creditor, and other reed patit. Some hese needs ae: Custody ané managment of working capita, isting sredit and Calleetons and avery manage + Creating and maining the most appoprite debt and equity coal sectae “+ Developing and inplemening a sytem to conwel plant. propery. sndequpment 1+ Administering peion or sar pln + Texphining ind compliancegenre pega eatin ty sacra en (hirer rit eat sr oe ae Fae ets ons eee ee Socal aca mniclogs apt oxpt 4+ anogingand securing the data ses 6. Teche Inpementaon Mole cup nd ehh Cee i ec scare, anise, ard stem, Magen spt there seal Siti are ache» ners oo a cc tasng es appoint" conolng ds tomate: Soneeaepisa a + Campion =" fs tng tnt an a ae mangement eis fd pig ad dcson mig ison making. ch roping st tne nd sore ales avodndconaatis pens initia tore gear ope soe Sener | mpanizations, One of the challenges here is ensuring that othe | managers eceve elevant infomation 7 manasa, Forse yas, may RPL a pe norman a ot! PSS Mead ing seal mie ys marge’ ie i f00vateble © Wet ait ey fd hat they ee Verein ~ Managennt accountants ws airman dered for th el ed thmugiout he erenizton. a ‘ithe pce troghout te ently pnaaion, Bot ofthese reves by intra ut racy an realty 32 Sores tat et tos isis of Peja ond te eludes development and maintenance of ‘owning orgnization, | TMS an ro the accounting 204 Amintration — Maison itecive and efeient mans 2 eon adresses and exes ise Fle Poni srt such 8 oe pssigment of management accounting esponsibiies 1 tmerc between acouning ond oer operation 1D Detention of matory and determinations relevant 1 cr dezetlzaton Recrui, ining, and develoing sfresponsiiy 1+ Separation dies tealization personne in he varios aos rave activites performed by management Cher imporant adminis ot ae mantnance of ‘Sumas nla the develops ‘Accounting policy and procedure mans 1A costeffeie records managemet program 1 Roweds adequate to met the requirement of nd egunoy agencies ad independent ax laws other wsa we mp) ‘operation Process roves tae ine ot toh HE NEE oF ig, sae sand evaluation of business tran Tesi ern » ham Si ne Ok and xsitenapraths trex > Amn te a y reenzin othe ees ee report ty da ty er econ es nd UMAR, 4 5 Prponson ond Tnteprtton —estingl coodaton Pari de lang cx to provide Information, pret Head tntling peri, We conclsons dram fey toed 6 Coan rin pie hon mee ‘Organization Structure and the Management Accountant Many of the ais contntiag the fk of management accounting ap ineelatd od us mast be cotrdanted, ranked and implemented y te Ihamgonet contain sch 2 fshion ay to et the objectives of te Semin pee yn oh A ifn fh mart {cern tof talon th plctin ofthe press the expat {9 atthe raion’ sejpiverr achieved fies Moines wing ited nae pens involved i 8 foc cts tefl pani, ne tig. ermal, sens, ad general aecounting.. Mange ‘Suman ts nytt te oe ‘Sven scone ongais en nn Rae eu coming hn Ovni V inant Sa eto sry atry comma ain gw oro A tne mou 4 Saraining the objectives of the Leeman we abet espns ot iy posable. Sales and production managers typically, bot ot co ‘vice bene ety po sae ey Sieory yt ai sae ecbed rly or apvare. Saf manages ve ci ae depen Examples of Sa ery oe phn rien and ean. is says, with responsi for pein nt yt pein ences. Th ini sa wig and Spit “The ecounting fonction ‘Manages a so oer ta a ‘Bice and help inthe areas of busgting, conto ‘eos. his deparmeny, the eief accounting Exceot for etreiing line authori over tsa ole i his company &5 ‘cer sly the confer generally il ie a th ne ae of sis ad produton executives Theoretical Sar errant he best aecouting procedures tobe foowed by he Hine eee he pce wo wl commcst sch though &, marl OF Fe sc apactce hover, the coal lds dlepted ato from ‘Upne mangement to diet he line people how fo apply these procedures. Fee rt at ncn euthry wih is the right 0 command scion [ner or downward wih ero a specif fenton o spi. “The Chie Financial Officer and the Controller “The chi financial officer (CFO) ~ alo calle the ance diretor in many Te it excetve sspnse fer overcing the inca operations of semiStion. The esponsiises ofthe CFO vary among erganizaton, but ‘hey uly nl he allowing res: + Conralleahip~ ides providing fnanca information fo report (numa ent reports 10 thrcholdes and vending the overall ‘Span ofthe seeouning system. + Teasry ~ inloes tanking and stor and longterm nan invested management of ah a “+ Risk management icles managing the nancial isk of interest-rate {nd exchange changes and deratves management,ta a —l RE aan’ ati oe | | Seat He red 1 9 pan ce Insooe epi sl infomation tem nn iis Tp mt CFO cl be at eatin ion ES, ae | ve cnt i cig) oi ie na angen NN Te exci ih Font ene the cl matey sig bt ty Sng i oc a ge pts Ye, te ode Sie co et ipl Senet imeeing rer at (obo and ate. 3 hy ring et ga ogee cg tesla! os Fru 13 2 sve itn of th CFO ad th cop ‘costrller of an apparel company. a ure 13.Reporing Reaantige for the CFO and the erring in 14 the Corporat ent a Sovttomece ewomrarato) re dt 1 CContollership bel fof como! which eared ond = a th resourees a8 heaves conroteriip sth price of te eabied sie Cecrty which managenest res igo psn der shew te COMPA tue Conall as he op Management Account ti is bo by the taps exponen unin a a nes epi repr ai roe mele Tp ndgs ae perma er) i eae deine (6. fobeater aes tas responsi forall ? ee tig DucuofieralReen anther 28 SEES ‘eegfaming the aces ofthe fn’ exerl fer the controle’ office is ‘simplified isan of the onganizaion ca oing to the conte A dimrpjgure La Note tht one of eS stow Figure ised od re rafting compen, com sown. Meer acronis esate costs ee Tanabe a ert gevelp cot information fer parpses of ating invent: management team. 1Pone wants 3 TRS Seer tee in aap coming, elt wl oad 0k OY SE Aigle ae at alg le oq of all ih-eel exeeuves. TES aig rien nd commence kl, sid terprsonl sae a ed ofthe inst in which the frm sompetes. rcs pi stot; mci gta ei ee ti “iba erica cme cca ie ae i ote cme pence ce Sata em ot tench seer ee ht amar eae a tat Ee ataopel ny yf ati Be nm 5 eae emo a ea ge ome conte rome ch, ua sl eT ee ante conrle exer ose or ing | Seetocrtertaasicioamn ae | Figure 14. 4 Typical Organization Conta Chat Stoning the Functions 9 asic Finctions of Contrllesip The rnp in! pie nd tes of cnt may be categorized as follows: a eg ai iss st aw pt ons so spt ato pt Si it cn pt jets ea ig nd mel sil soe al a Mine eenpianpserdi poner 2 mab io ie sisi "snd ant ich 1 mee ‘elem de ins es er ee untae chose 3. Repring, ro a ei Ror. a ad inp Gani ret en eae an eee i eae rte ‘extemal reports ompany and anit objectives; prepare and file se ie A wean py ls sit sons ad hegre pee oeenet ea: An verice_ 34 enn. Desi tbh mai “ eit rnc rene Srl: a ema er noel wamacs be oa ep i cn sce pales wh Miguel cr ws, Manage and spars ach fet the inary Ronin, wags od pr ae tha ecm re wih he es ea Sens manain sypepi ean ace melo and mamta stems and procedure sues de Srerse wed very rnin: ne en Ed pac veto posams: fie manatees Didier aed frets te any devitins rom the baie "Dafne the ones ffs signing nim need nc eon nto te brden he pera and cont cei ‘As icmstaness wart, there ay ‘ations just deere shoud be posted ‘een eed a ederim es Tet by ‘peteas ofan operational matic. Te anal planing Er is impart tothe socess of the business ere Vesta ohare an perform, ‘Saale ih ti cations ofthe Contler ee ‘The ualifeatons of an efeciveconral woul inchae: ‘an excllet tcl fundation in aceurting and finance with a8 ndsntsadng ad torah nowledge of asounting principles “Ananderstinkng ofthe principe of planing. eganizing. nd contr ‘A general andcstndng ofthe indy in whic the company comptes nd sii econo, nd piel Fores involved 44 A tiwough endertanding ofthe company, incuting ts technologies Products poses, betes sion ernzation, nd environment. “The ably to commanizate wih al evels of management and a basi Undentending of the ote frctoral eoblems related 1 engineering. ofan, procirent, nds elton, and marketing. a2 ig amg jee postive ston 8a {6 The sbi wees is ee reenter 2, Tesbiy mete 0 se tr my we eri apa 4B oy cot en ete FO, he ma, mi fo conmonee Bes NCE. Hepa sere ti ier tei vote pis Scere ‘sin oy exci pst, de cote mst e Able © Work Wh pop Pain ete fo ie ies al opcons of Ofer, and hy ie Tove roe ees 4 pi irks feuetes oneal reaarer “The Chit Financia Ofer anh Atdough rp sats vary fom fm ffir, he oe of as ‘sind te Cie of Fal Ott (CFO) or he Vice resien ge ‘oreo te Pree, Be Te Sail veces ty brine ate he Teer ‘CowsteeT tck sees eto ele of e Conair root tin. Trees Tremp sconce wih Me eit, acing ad manger es ies com rate wel of th fe fr es, |nmos ims th eee he flowing espns: 1 cn ZN roe i find nar th rm pe teleseminar _| erwin on pte tM rome 2 Bandari i aes ‘sole Sc manent of eh a cath equals fs en i asd terrae ete Smears roitensnnas a ace iS rarasssetere simen. 4 Operaing Response reed i) end catcicn (6 vey Managenet (2) Cope peson sl cert fd (@ wre Retson. fren ao © ered daemon wee ‘lcs ton wit sesuig tn ers an sien Yee inl don ling fds eon oF Profesional Ehles tn cent er, may eoaceas ave ben rsd regarding bial beat i MSCS abe te Alpin rd seas f wnein conda! Pa Nene managers tly all eens of sce eS prereset shrate cxiatony nd ever ean Al ‘Sovulepnr an sami tne pete xo afin, #3 oot Pe sortemwanlolteadowe ae or ier of he ation. ARE a RSCEESGT nition of enacts are condced every ay chat resin hed. Neves ie importa shave an appecatinof hat is ast ic bari in buen andy.” Fart, the Isat of Mmgenet Avot (MA) af he Unie Ses ba devcloned very Wintel af llth Suds of Ethic! Conde or Procite of WiScqenen! Soci ant Pca! Mongenent Even though, dhe ‘nga new sly Seve fr manager accurate Dav hoe speaton for Management Accountants ade of ‘The eta o Mangement Asoemans MA) sued the Standard of Ethie Condat ir Prsttanes of Macagenent Acsouning and Fancal Smogon These sad ae pes in Fgure 8. Th ae tvo pars {ste sundae ip poder ener dle fo cal Behr24 Cage tea he mee tale emi > anaes toni pie 1 telat a enn sans pe sinc concening Descent os ade of eal mine wigan onan ‘| The hil fii od, pl ais fr an ciel la te pte he, Nei eg yee mg man i ei th seni ato work competent. cau has ethical responsi revel of rofessonlcompetene, ith content, goed ab esc it te, nrg Freecom op ‘of not abiding by the standards: pre Telepanel sv cael se athnian inrend srr lone bs Fone Ts Soro ee SIRS aStyaree ate Sader ‘Sra rosie op salt elt go Se fa ee i eae ‘ofthe company’s financial statement could nat be | es ee Clee ‘woald have little basis for mating Satpal wy cee oe its lee pate ns ya yn orerien_ 28 Manaemnt Accusins: ey, would ed ecsmone te “and serves, and bigher prices Slower eenaic growth ewe Bod a eee eal ers Wee FLT ath ste a estate comsearons e0, FON E ane Ie be, Sidon of thea Conde! ar Of a ning and Ponce Margene 8 5G da Maar py eel re sme fo vanced se ecoon. agement tidards of thea Condct for Practitioners of Mm ‘Recvatng an Financial Manageme Fire 15 al mraaner are oon aera pnaaian benches a ‘anders, tage soe atin merely, regal © atievg re OOP zene eyo yen mr enc TIT SI semua, rea obese estas rl ey srcne Spaes wine ber pairs. ovr of manager acnarg facil NUR 5 ngog coves oat camptence, Pai ont a 2 ree uns on apr inet presse cogs rede si in morc elon on, rete, sd + efoo te psn ies fea sas jae camp nd car eps 8 omens foot rane oma. rte ol moropenen surg a fare marapenet Nave 8 ter apr eas consti sper: tain tom er xtraineron age ibe 8 en aac us ea bkaests 0 iam borate peal reggie corona of roman eid bm ss a mo Pe est are ha mantra of at corey nak wok etay: 4 ome mete em A rte eo ah oN ron esi dE MSNA ng _ ee ea ny tld eH TY ay ogg caesetial ee techy Ae a a re tener acy x silage etanetf e on ‘Snead ee. acre ot cormncae peso ins of OD Tea Pot wa Fes cay piper ptr ta ay sa fewest rd pessoal ina ers into aig spain sc twos sce pss, + Comune deity pace ya erat iorain ul co aot be expec ue a ances nevindngelbe go men a ecnmendaos ese Reson of hia Co. nate fe stata of ec onc, practiows erent azootg an fatal sagen ay encour pins in eh eer i tot cd ih ois Ee ren ont ot a angen a sid acs ohn ay he in of ch con, 13 1 ee etl, ch pace os ar a — 22 tes ema spt: cc ten pas eee bine nia ep pid pene Fastin ce! en ep ‘soos bet itr nanapt el ne nets tail esc wey ary ray oe 2 gap Sch ‘ae ae vt tues cress, Come ec, ony wih spears wee, = Bae ms rn cece cu coms mom pane sion than ot sosot (09. IMA en cnt get Cnty wonton is Cnelg Sa 9 contour cmmatnéy 5 eae esr carting FSS ers cong ie reve, ae may 2 past ba abe sis, mary Nana Assen of ASS rapenet Acar, Sine rena 197 pe Wiogemen Accu ‘ute Maogene est A ew Yer ye 71205 ‘Company Code of Conduct prt function in am aaneed ce etal standards, materi ‘vial nandande serve «very inpotant ent of CMA emphasizes the OES coon. Witt widespread allere Tits santads would Bl. A former presi impor of hes in buses tmploees Fike 1 wok fora company dat thy xn tut, Costes RT Sa wits an cally rele busines, Suppliers Fhe to sll Fs wih which they can havea real parership, Commaniis ar fms) to conpercte with eganizatons that desl honestly and fy a a eth lsiess comment 1 ¥ function effective ll of The ploersnedt sete” nfirtnate toogh tn some companies place so much emphasis on short ie ‘Wc Uke the aly way to get ahead fs to act term pil hat ay ake nenawe Ciger) etvir fen js the aston wi “Tove who engage in veh BD” my, sr fhe long epee BIO ‘ayer expan ete ele irunnical anor Oe era sel wy ashen eon ae a A cpa Treo teem, ace batt porate nme ton em ft ace Clery saps co ape tS mae Cae Se ws ne ae of bet arn epleeWyaly. While irs and cheats may wig, ra rs ee een darter. Companies in Business fr he og Sis ere isrcomens ee dag ‘Typical Esha! Challenges ‘Eile ca enn managnent counts in many Ways. Hee ‘wa emp a + Gave A. Roge Cru a maagenent se:ounat, kaows tit reporings fom for stare dn wil et i yet another series of lt, tnd has cones abut camera pent of software fr wih aD co we cent ei pale a on et ate hn i, ston ayn fe pia pupse The he a ee rt il eee dpa at poe ile re Spe amen. Ths tis ra i vi ne en uc. The msapee etn hs many tends the division and’ wants to avd & onl ones wt he dvb manage init et toe Soa alee een | slic ety ene eae De dae et yom wn overview 29. ne tc eta die atin ncaa pg a won cent Se a Sn pig ere ate tae ie ier cca acme wij st py cae fee co a gas i case the inviaon one shoul be informed Conti rants, the vit approved te pe ini fr as tril approves bet Fotowing corporate i offen ate wie les the conden Codes of Condustom the International Level say 1990 te nero eden of Acct (IFAC) oh sa ee ough HCPA ea member, inde “dln On EMS, ra acta” hice goers te ais ofall Professons Preto espa the worl, regariiess of whether they ae practicing =) aaerie CPha, employed in goverment servic or employed as eT sane cr siditan to outining chica requirements in mars dealing sec ce eject independonce, and confidential the IEAC'S ce eerste te sccounart's etal responsibies i mares ating © Sad commision advertising and sliciation, the handling of monies reese berder actives, Whee ere border actives are involved the FAC Tr eglemens mast be followed thse requireens are ster than the lhe! egurementsf he coun In which the work bung performed. “The Board of Accountancy of the Profesional Regulation Comission approved {Deimpleneniaion ofthe Revied Code of Eties for Profesional Accountants inehe Piles eflectve anor 12016. INTERNATIONAL CERTIFICATIONS “Te tee cei avalabl to management accountants ae as fllows: + Cerifetof Management Accounting (CMA) 1 Certete In Pblie Accounting (CPA)0 Chaper cenit ines Aung CIA) Se mer scott 0 ie Ci cee enn pe in ie Eee Bae Oy oe ae ‘Management Accountants (IMA). sting anne Pate Asma svi te eu EA A Ceili At en ace eats fen Pal nepatry Beal of Accountancy ad his Satisfied all oer et fe eee is pe ei Th Ca oh acy es ean iy “information contain inthe firm's financial staerments, YE te (CA Toatain he sats Cried Inernal Autor a indivi rst py Cmprleive examination dig 0 su echnical competence nd pg thea natrof en of wa xp ae Insitute of Management Accountants (IMA) pasieeenarieres gee ore tine snags corp’ opens and less withthe probly of sag cngan ref eh teen nee ‘counting and Repoing: Managemen Reporting, Analysis and Bahai eccpewinitnt caesar oem Management. The IMA sl pron he is of Met ‘2 ni of ogi Acting (MA) pti arise » mie Sore Pn Se 19% be MA ‘as condaed 0 compreenste amie the knoll 10 tet et ; | nt secounant must ve to be soeceisfl ana uses word. Mor than 3000 ins ake ba er een el 2 Cente Managemen! ASSOCNGS Tac prod nce he designation es eis en se: testo fa ee oc cmt, vtn MA Web ot sunars ow a ext of IMA i he deve of Ono cn fancies nt ners cl Soe eg eva be BIA went se Sosa Pippin Assoc AMA wat eased in 197 (NAA) Palpine Chaps, unded primey to prove 1m manent of etic! fo discuss fe ebial Management Accountants (PAMA) of ition of Accounan’s + as Nn Asotin of A 1 afned with NAA ia New York. Has jaro wih edacatonal and profesiosl re ee sopplemetithe kaowledge of management as:0uniNg POETS wep iiede Mol techies meetings seminar and wortshos FBO et and curt topos by lending spesters from the government, preset tops by Kang mat, eet fad efcanal set, The open frum provides the nerve fo rie lcs and expences among the paripants and the spears cton of technical utr f also prt ofthe Association's efforts (0 Servier memes. “To propagate and pofesionalize Management Accounting inthe Phillies Frees ce Cenfiete in Management Accounting (CMA) Program tings ts coming edoeton arm the Pippine Institue of Management ‘Aconing (PIMA). Dac bjeives ofthe program ae: 1. To eablsh manigamest acouing a5 a rsopnzed profesion by ‘entipng the ole ofthe manage’ accountant nd the undetying teay of knowledge, andy outlining a couse of soy By which uch Inowldge ean be ead 2. To foster higher elution standards in the fied of management scouting 4. Toasts employees, edustors and students by establishing an objective Ihease of an indies” haowledge and competence in the Feld of Imanagerent scouting.