Management accounting
Marie
Registered Posts: 14 New contributor 🐸
Hi,
I've got an interview tommorow & i'm just doing some prep.
The role is for an Assistant Accountant & mentions getting involved in management accounting.
What exactly is management accounting? I've only worked for a small company & so I'm not entirely sure if what I was calling managment accounts actually is management accounts. I did an all round role & did cashflow reports, input of information to compare estimated project costings against actual. I also compared actual sales etc against estimated.Is any of this basic managment accounts & what is full management accounts.
Thanks anyone who replies.
I've got an interview tommorow & i'm just doing some prep.
The role is for an Assistant Accountant & mentions getting involved in management accounting.
What exactly is management accounting? I've only worked for a small company & so I'm not entirely sure if what I was calling managment accounts actually is management accounts. I did an all round role & did cashflow reports, input of information to compare estimated project costings against actual. I also compared actual sales etc against estimated.Is any of this basic managment accounts & what is full management accounts.
Thanks anyone who replies.
0
Comments
-
I Believe Management Accounts is preparing the accounts up to P & L and Balance Sheet.
Someone correct me if i'm wrong?!0 -
I Believe Management Accounts is preparing the accounts up to P & L and Balance Sheet.
Someone correct me if i'm wrong?!
This is financial accounting, Nich, and usually based on historical information. My take of management accounting is the preparing of reports and other data for senior company members to enable strategic and tactical decisions to be made in the future.
You can also think of another difference as being financial accounting information is usually produced and made available primarily for external users (e.g. P&L and Balance Sheet etc) whereas management accounting information is usually only available for internal use (e.g. cashflows, forecasts, budgets etc). So yes Marie, you've already "done" management accounting though the difference between basic and full must depend on the size of the company, the complexity/variety of reports required and the technical skill of the data compiler.0 -
Thanks for replying.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 156 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 92 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 274 Tax
- 136 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership