Acc122 Managerial Accounting Profession
Dawn Howarth
ACC122 Managerial Accounting Career Paper
Baker College
What is Managerial Accounting
Managerial accounting is the process of identifying, recording, analyzing and finally presenting the financial data which is used by the management and business owners for the purposes of command and for decision making.
The difference between financial accounting and management accounting
Financial accounting is reported publicly while management accounting is used by the company or organization and would be considered confidential information. Individuals who use financial accounting are possible external investors and the internal management of the company while the managerial accounting is strictly for internal use and those external to the company are excluded from the information. Financial accounting is made for auditing …show more content…
Another job is financial analyst whose responsibilities include making cost management decisions and improving financial practices (Needles, Powers, & Crosson, 2014). Accounting manager is another job that one gets and has the responsibilities of preparing financial statements and balance sheets, maintaining financial data, filling tax returns and auditing financial documents and processes.
IMA Statement of Ethical Practice and the impact is has on an accounting professional?
The IMA statement of ethical practice includes ethical practices like standards which guide our conduct e.g. principles of fairness, objectivity, honesty, responsibility and standards such as integrity, credibility, competence and confidentiality. The aforementioned ethical practices improve on accountability, objectivity and reduce unprofessional behavior from the accountants in the business environment.
CMA certification for Managerial Accounting
ACC122 Managerial Accounting Career Paper
Baker College
What is Managerial Accounting
Managerial accounting is the process of identifying, recording, analyzing and finally presenting the financial data which is used by the management and business owners for the purposes of command and for decision making.
The difference between financial accounting and management accounting
Financial accounting is reported publicly while management accounting is used by the company or organization and would be considered confidential information. Individuals who use financial accounting are possible external investors and the internal management of the company while the managerial accounting is strictly for internal use and those external to the company are excluded from the information. Financial accounting is made for auditing …show more content…
Another job is financial analyst whose responsibilities include making cost management decisions and improving financial practices (Needles, Powers, & Crosson, 2014). Accounting manager is another job that one gets and has the responsibilities of preparing financial statements and balance sheets, maintaining financial data, filling tax returns and auditing financial documents and processes.
IMA Statement of Ethical Practice and the impact is has on an accounting professional?
The IMA statement of ethical practice includes ethical practices like standards which guide our conduct e.g. principles of fairness, objectivity, honesty, responsibility and standards such as integrity, credibility, competence and confidentiality. The aforementioned ethical practices improve on accountability, objectivity and reduce unprofessional behavior from the accountants in the business environment.
CMA certification for Managerial Accounting