UNIVERSITY OF PROFESSIONAL STUDIES (UPS), ACCRA

WEEKENDS SCHOOL
BACHELOR OF BUSINESS ADMINISTRATION

NAME: AVEVVOR JACKSON DOE

INDEX NUMBER: 12BBK359
LEVEL: 300

SUBJECT: MANAGEMENT ACCOUNTING

DATE OF SUBMISSION: 24TH MAY, 2013

Q1
Management accountant prepares, develops and analyses key financial information to ensure that an organisation's management make well-informed decisions to ensure future stability, growth and profitability. They establish and maintain financial policies and management information systems, as well as provide a high quality support service by liaising with management colleagues on all aspects of finance. The role combines accounting skills with business management skills.
Management accountant’s role is to look to the future. They analyse the performance of a business and advise on how to pre-empt problems, adapt to changing circumstances and improve value. This is done by managing and reducing operational and production costs and implementing newer more effective strategies. They can work in a specific division or across the whole organisation. below are the main roles of management accountant i. informing key strategic decisions and formulating business strategies; ii. preparing periodic financial statements, including profit and loss accounts, budgets, cash flows, variance analysis and commentaries; iii. monitoring and evaluating financial information systems and suggesting improvements where needed; iv. analysing financial performance and so contributing to medium and long-term business planning/forecasts; v. providing a support service by working with all departments and the management team to help make financial decisions;
The role will vary depending on the management structure, for example there may be some openings in large firms with a focus on a business advisory role.
Q2
Management accounting Information