Management accountants are actively involved in the process of managing the entity. This process includes making strategic, tactical, and operating decisions while helping to coordinate the efforts of the entire organization. To fulfill these objectives, the management accountant accepts certain responsibilities that can be identified as (1) planning, (2) controlling, (3) evaluating performance, (4) ensuring accountability of resources, and (5) external reporting. Required: Describe each of these responsibilities of the management accountant and identify examples of practices and techniques. (CMA Adapted)
Management accountants are actively involved in the process of managing the entity. This process includes making strategic, tactical, and operating decisions while helping to coordinate the efforts of the entire organization. To fulfill these objectives, the management accountant accepts certain responsibilities that can be identified as (1) planning, (2) controlling, (3) evaluating performance, (4) ensuring accountability of resources, and (5) external reporting. Required: Describe each of these responsibilities of the management accountant and identify examples of practices and techniques. (CMA Adapted)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:4. System objectives
Exercise 3 (Role of Management Accountants)
Management accountants are actively involved in the process of managing the
entity.
decisions while helping to coordinate the efforts of the entire organization. To
fulfill these objectives, the management accountant accepts certain
responsibilities that can be identified as (1) planning, (2) controlling, (3)
evaluating performance, (4) ensuring accountability of resources, and (5)
external reporting.
This process includes making strategic, tactical, and operating
Required:
Describe each of these responsibilities of the management accountant and
identify examples of practices and techniques.
(CMA Adapted)
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