BOSS NAIK Accounting Series

BOSS NAIK Accounting Series

Management Accounting
Competency Framework
Definition of Management Accounting

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Management accounting is a profession encompassing finance and accounting
professionals working inside organizations. Their role involves partnering in
management decision making, devising planning and performance management
systems, and providing expertise in financial reporting and control to formulate and
implement an organization’s strategy. (IMA Competency Framework)
 BOSS NAIK Accounting Series
Competencies by Domain
Strategy, Planning and Performance

BOSS NAIK Accounting Series

The competencies required to envision the future, lead strategic planning process, guide
decisions, manage risks, and monitor performances:
1. Strategic and Tactical Planning
2. Decision Analysis
3. Strategic Cost Management
4. Capital Investment Decisions
5. Enterprise Risk Management
6. Budgeting and Forecasting
7. Corporate Finance
8. Performance Management
Reporting and Control

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The competencies required to measure and report an organization’s performance in
compliance with relevant standards and regulations

1. Internal Control
2. Financial RecordKeeping
3. Cost Accounting
4. Financial Statement Preparation
5. Financial Statement Analysis
6. Tax Compliance and Planning
7. Integrated Reporting
Technology and Analytics

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The competencies required to manage technology and analyze data to enhance
organizational success.
1. Information Systems
2. Data Governance
3. Data Analytics
4. Data Visualization
Business Acumen and Operations

BOSS NAIK Accounting Series

The competencies required to contribute as a cross functional business partner to
transform company wide operations.
1. Industry Specific Knowledge
2. Operational Knowledge
3. Quality Management and Continuous Improvement
4. Project Management
Leadership
The competencies required to collaborate with others and inspire teams to achieve

BOSS NAIK Accounting Series

organizational goals.

1. Communication skills
2. Motivating and Inspiring others
3. Collaboration, Teamwork, and Relationship Management.
4. Change Management
5. Conflict Management
6. Negotiation
7. Talent Management
Professional Ethics and Values

BOSS NAIK Accounting Series

The competencies required to demonstrate the professional values, ethical behavior,
and legal compliance essential to a sustainable business model.
1. Professional Ethical Behavior
2. Recognizing and Resolving Unethical behavior
3. Legal and Regulatory Requirements.
BOSS NAIK Accounting Series
Total Cost Management
Total Cost Management

BOSS NAIK Accounting Series

It is the effective application of professional and technical expertise to plan and
resource, costs, profitability and risks. Simply stated, it is a systematic approach to
managing costs throughout the life cycle of an enterprise, program, facility, project,
product, or service. This is accomplished through the application of cost engineering
and cost management principles, proven methodologies and the latest technology in
support of the management process.
BOSS NAIK Accounting Series
BOSS NAIK Accounting Series
BOSS NAIK Accounting Series
BOSS NAIK Accounting Series