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Document Summary

Supports the needs of management no regulations (ex: gaap) to follow because reports aren"t being released to the public. Management accountant must understand many functions of the business to manage the value chain. A decision affecting one function affects the others. Allows management to see big picture and . In a company a management accountant would usually be: Responsible for internal auditing, cost accounting, financial accounting, and systems accounting. Raises capital and managers cash and investments. Responsible for credit & collection and insurance. Reports on events which have happened (ex: history, past events) May be financial or non- financial; much more subjective. Focuses on performance of entities, product lines, departments and managers. Accounting system needs to be flexible enough to provide both financial and managerial information. Developments in technology have created the need for better information: in response activity-based management accounting systems were developed. Advantage comes when company can create better customer value.

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