Professional Documents
Culture Documents
Objectives of management
To formulate plans and policy
2.Evaluation of performance:
He should evaluate various policies and
programmes. The effectiveness of planning and
procedures to attain the objectives of the organisation
depends upon the caliber of the management
accountant.
3.Reporting:
He has to compare the actual performance with
plans and standards. The results of the operations to be
interpreted and reported to all levels of management.
This done through compilation of accounting records,
statistical records and reports
5. Protection of Assets:
It is another function of a management accountant. It
is performed through the maintenance of internal control,
auditing and proper insurance coverage to assets.
6. Appraisal of external effects:
He is assess the effects of various economic and fiscal
policies of the government.
He has interpret to the management their effects on
business.
Helps in Coordinating.
This facilitates clear definition of departmental goals and
Coordination of their activities.( relationship among various
depts. in a orgn )
Interpretation of financial information.
It presents information in a simple and purposeful manner. It
facilitates quick decision making.
Economic appraisal.
It includes appraisal of social,economic forces and government
policies. It helps the management in assessing their impact on
the business.
Improving efficiency.
It is a convenient tool to improve the performance.With the help
of ratios and budgets all the departmental activities can be
improved and maintained.It assists the management in location
of weak spots ( sick areas ) and in taking corrective actions
Budgetary
control:
control:
Statistical methods:
Statistical tools like graphs, charts, index numbers are used
for presentation of information to various departments.
Taxation:
It includes preparation of income statement, assessing the
effect of tax on capital expenditure ,proposal & pricing.
Methods and procedures:
They deal with organizational methods for cost reduction,
procedures for improving the efficiency of accounting &
office operations.
Internal audit:
This refers to the establishment of a suitable internal audit
system for internal control.
Office services:
They cover a wide range of activities like data processing,
filing, copying, printing, communication etc.