management accounting processes

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elvis99
elvis99 Registered Posts: 18 New contributor 🐸
Hi

Does anyone know exactly what 'management accounting processes' are?

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  • blobbyh
    blobbyh Registered Posts: 2,415 Beyond epic contributor 🧙‍♂️
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    That's a bit of a broad question so could you please be a little more specific as to which module your question relates to? As you will already know, management accounts are for managers and directors of the company to enable them to make short to long term business decisions based on reports and info specifically prepared for those purposes.

    There are any number of reports available, many depending on the nature of the business, that can enable them to reach those decisions so when you say 'processes' what do you mean?
  • elvis99
    elvis99 Registered Posts: 18 New contributor 🐸
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    One of the essential criteria for a job is to have good knowledge of management accounting processes, but since I don't work in this area I was hoping that someone may be able to help....
  • columbia
    columbia Registered Posts: 580 Epic contributor 🐘
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    Hi

    Management accounting normally entails the reports the business owners need to enable them to keep a check on how the company is doing.

    Ie; P&L reports, balance sheets, cashflows, budgeting and forecasting reports etc. You may also be asked to check performance ratios such as debtors/creditors turnover, GP ratios etc.

    This is obviously only a quick guide as to what may be expected I am sure there are others who work in this field who could offer some more detailed advice, but although I don't work specifically in this field these are some of the items I produce on a qtrly basis.

    Hope this is of some help.

    Tracy
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