FUNCTIONS OF MANAGEMENT ACCOUNTANT

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Management Accountant is considered to be a part of the management team since he has the responsibility for collecting vital information, both from within and outside the company. The functions of a management accountant are:

• To establish, coordinate and administer, as an integral part of management, an adequate plan for the control of operations. Such a plan would provide, to the extent required in the business cost standards, expense budgets, sales forecasts, profit planning, and program for capital investment and financing, together with necessary procedures to effectuate the plan.

• To compare performance with the operating plan and standards and to report and interpret the results of the operation to all levels of management, and to the owners of the business. This function includes the formulation and administration of
accounting policy and the compilations of statistical records and special reposts as required.

• To consult withal segments of management responsible for policy or action conserving any phase of the operations of the business as it relates to the attainment of objectives, and the effectiveness of policies, organization strictures, and procedures. • To administer tax policies and procedures.

• To supervise and coordinate the preparation of reports to Government agencies.

• The assured fiscal protection for the assets of the business through adequate internal; control and proper insurance coverage.

• To continuously appraise economic and social forces and government influences. and interpret their effect on business.

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