Is management accounting a profession?
Discussion
The answer is that accountancy is a profession, all management accountants are accountants, so by association yes.
But the question is a bit like asking "is gynaecology a profession?"; obviously doctoring is a profession, but gynaecology is a subset of that.
I really don't know why I picked gynaecology by the way.
The answer is pretty obvious, so that's not what is actually being asked of you here, by the sounds of it. What sort of course is the essay for?
But the question is a bit like asking "is gynaecology a profession?"; obviously doctoring is a profession, but gynaecology is a subset of that.
I really don't know why I picked gynaecology by the way.
The answer is pretty obvious, so that's not what is actually being asked of you here, by the sounds of it. What sort of course is the essay for?
big_boz said:
God knows how you are going to write 1700 words on the subject
"Accountancy is a professional ergo management accountancy is a profession. Management accountants deal with numbers such as one, two, three, four, five, six..." [then carry on until the total number of words is 1,700]HTH
Landlord said:
Accountancy is a professional ergo management accountancy is a profession. Management accountants deal with numbers such as one, two, three, four, five, six..." [then carry on until the total number of words is 1,700]
HTH
This is the only way you will achieve the appropriate word count.HTH
Those accountants on here are assuming that it is obvious to all-and-sundry that management accounting has anything to do with money or balance sheets.
Contrast that with the job of a security auditor who doesn't have to hold the qualifications that a financial auditor needs.
I'm sure that there are a number of other examples.
Contrast that with the job of a security auditor who doesn't have to hold the qualifications that a financial auditor needs.
I'm sure that there are a number of other examples.
I wouldn't think so, well not per-se, ether way it's not a role I'm familiar with.
Management Accounts are more of the end product, ala being a brewer is a profession, but beer is not, Management Accounts are the Beer.
In practice they're compiled by the Bookkeepers or Accountants, in industry it can be the FD.
We also have Accountants who are Managers of their team, part of their role is to manage and develop their Assistants and Bookkeepers.
But with some many new hybrid roles being created by cost sensitive companies and so many w
ky titles being invented by Recruitment / HR types, who knows.
Management Accounts are more of the end product, ala being a brewer is a profession, but beer is not, Management Accounts are the Beer.
In practice they're compiled by the Bookkeepers or Accountants, in industry it can be the FD.
We also have Accountants who are Managers of their team, part of their role is to manage and develop their Assistants and Bookkeepers.
But with some many new hybrid roles being created by cost sensitive companies and so many w
ky titles being invented by Recruitment / HR types, who knows.Monthly reports help those in charge understand the direction the company is taking, and help highlight any movements away from the set budget. In this way any potential issues can be identified and dealt with promptly and any opportunities can be maximised.
Budgeting and forecasting help to steer the company and ensure that it remains profitable.
Is that ok for a start?
And welcome to the Dark Side...
Budgeting and forecasting help to steer the company and ensure that it remains profitable.
Is that ok for a start?
And welcome to the Dark Side...
[quote=MoelyCrio
Management accountants - use the numbers to manage the business
[/quote]
No they don't, they create reports that help manage the business.
My contention would be that management accountants tend to be less transferable than other accountants, they are more entrenched in the business and the systems.
In the current economic climate managing the balance sheet and cash flow is as important. Management accountants struggle with balance sheets in my experience.
Management accountants - use the numbers to manage the business
[/quote]
No they don't, they create reports that help manage the business.
My contention would be that management accountants tend to be less transferable than other accountants, they are more entrenched in the business and the systems.
In the current economic climate managing the balance sheet and cash flow is as important. Management accountants struggle with balance sheets in my experience.
Stuart70 said:
Correctly speaking (pedant mode) religion, medicine and law are professions.
Accountancy is a trade.
As a lawyer, qualified as an accountant and working as a management accountant in financial services, I am a tradesman and none the worse for that!
Pedant mode off...
but there are professional bodies for accountancy?Accountancy is a trade.
As a lawyer, qualified as an accountant and working as a management accountant in financial services, I am a tradesman and none the worse for that!
Pedant mode off...
(just like there are for seemingly everything else now).
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