Question

what do management accountants do within an organizational setup..?

Answer 1

The management accountants work inside a firm who are handling all internal accounting data. They generally create management reports, allocate production costs, and extend their support for managerial decisions. The management accountant plays an integral part of the controller’s function in an organization. The purpose of management accountants in the organizational setup is to support competitive decision making by collecting, processing, and communicating information that assists business plan, control, and evaluate business processes and the strategy of the company. They guide the chief financial officer, who is a key member of the top management in making important financial decisions. They also plays a vital role in the management process, mainly in giving information to internal users (persons inside the organization) for making the right decisions to attain organizational goals.