A Career In Accounting 2 A Career In AccountingManagement accounting is considered one of the most essential management services
A Career In Accounting 1
Running Head: A Career In Accounting
A Career In Accounting
Cassondra D. Johnson
ACG420 UNIT1IP
2 JUNE 05
A Career In Accounting 2
A Career In Accounting
Management accounting is considered one of the most essential management services. Management accountants are considered internal managers; they produce information for managers within an organization. Management accountants identify, measure, accumulate, analyze, prepare, interpret and communicate information that helps managers fulfill organizational objectives. With increased competition and consequent economic pressures, management accounting has become part of the primary fabric of management.
There is no denying the fact that an organization's success or failure is dependent on the quality of information made available to the management; this is where a management accountant becomes vital. It is his primary job to ensure that managerial decisions are well within the cost prescriptions. The management accountant is expected to give a prognosis for projects to be undertaken based on past and present financial performances. In order to do this a management accountant needs to take into account factors like cost of raw materials, labor, transport and overheads. Knowledge of these costs will help the cost accountant prepare budgets for the operation that is planned.
RESPONSIBILITIES: The position includes developing and maintaining automated systems to produce accounting and financial information. Coordinates the resolution of accounting system issues arising from factors such as changes in legislation, regulation, and accounting standards. Planning, analyzing and determining cost benefit relationships. Responsible for monitoring all operations in the accounting and finance branch, providing technical assistance and guidance to management officials and technicians engaged in the different accounting and finance functions, and maintaining, controlling, and reporting financial information for financial services provided to the organization. Prepares annual operations and maintenance budget for equipment and supply items. Controls the execution ...
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RESPONSIBILITIES: The position includes developing and maintaining automated systems to produce accounting and financial information. Coordinates the resolution of accounting system issues arising from factors such as changes in legislation, regulation, and accounting standards. Planning, analyzing and determining cost benefit relationships. Responsible for monitoring all operations in the accounting and finance branch, providing technical assistance and guidance to management officials and technicians engaged in the different accounting and finance functions, and maintaining, controlling, and reporting financial information for financial services provided to the organization. Prepares annual operations and maintenance budget for equipment and supply items. Controls the execution of current year financial plan, by reviewing daily, monthly, and quarterly accounting reports to endure sufficient funding is available to accomplish mission goals.
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EDUCATION REQUIREMENTS: Degree in accounting or a degree in a related field such as business administration or finance. Should include up to 6 hours of credit in business law.
Financial accountants provide information for external parties, such as investors and government authorities. Financial consultants establish an ongoing relationship and work together as partners for the long haul. Based on an in-depth interview, a financial consultant will work with the customer to develop an individualized financial plan tailored to the particular circumstances, investment objectives, and risk tolerance of the individual. The financial accountant will then monitor a portfolio closely to ensure it is making appropriate progress toward the desired objectives. As other needs evolve, a financial consultant will keep watch so that the investment strategy is consistent with the changing circumstances of the customer.
RESPONSIBILITIES: Determines specific customer needs and ensures that appropriate market transactions are executed. Provides advice to customers on personal investment product purchases. Maintains a high level of profitable sales which meet or exceed agreed upon goals. Maintains expertise with the current investment product portfolio to ensure optimum marketing potential. Keeps informed of industry product trends and issues; identifies opportunities for improvement. Ability to communicate effectively and clearly to a broad range of existing and potential customers. Ability to acquire and maintain changing product information for all products supported, as well as maintaining a broad knowledge of the industry and the ability to keep informed of trends and developments. Innovation and flexibility are essential to meet the demands of an ever-changing market. Excellent analytical skills are needed to recommend the appropriate products and services to customers. Experience as a sales professional, attorney, financial planner, or banker developing business and establishing long-term relationships with affluent clients.
EDUCATION REQUIREMENTS: A bachelor's degree in a business related discipline is strongly preferred; an MBA, JD, CPA, CFP, CIMA, or other related professional certification is a plus.
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New Haven County Jobs, Retrieved on 5 June 2005, from
http://www.newhavencountyjobs.com/jobdescr.asp?jobcode=2881
TopUSAJobs.com, Retrieved 5 June 2005, from
http://financial.advisor.jobs.topusajobs.com/
Horngren, C., Sundem, G., & Associates, (2003), Introduction to Management Accounting, Pearson Education international
