THE ROLE OF THE MANAGEMENT ACCOUNTANT IN VALUE CREATION

Today’s management accountants are required to have competencies in cost management, performance measurement (financial and non-financial), process management and risk management as a result play a key role in decision making across the various functional areas of an organization Managerial accounting: the form of accounting concerned with providing information to managers for use in planning and controlling operations and for decision making Financial accounting: the form of accounting concerned with providing information to shareholders, creditors, and others outside the organization The work of managers and their need for managerial accounting information Every organization has managers – someone must be responsible for making plans, organizing resoures, directing personnel, and controlling operations. Managers carry out three major activities: