ACC 212 Lecture 1: Exam #1 Study Guide

• School: University of Miami
• Department: Accounting Business Administration
• Course: ACC 212
• Professor: Nicole Nelson

Document Summary

Chapter 1- management accounting: its environment and future. Management accounting: area of accounting that specializes in providing managers and employees with the information they need. 1919 - usa; formation signified that management accounting is recognized as a branch of the accounting profession, separate from financial accounting: provides professional status for management accounting just as american. Institute of certified public accountants-aicpa did for financial accountants. Certified management accountant (cma): certification awarded to accountants intended to provide accounting services to particular companies/organizations; must pass a 3 day exam, complete a 2 year experience, and comply with ima standards. Certified public accountant (cpa): license awarded by the government to accountants intended to provide accounting services to the public. As a result of recent financial scandals, the financial and management branches of accounting have placed emphasis on the ima"s statement of ethical professional. Practice; refers to competence, confidentiality, integrity, and credibility.