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)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 2MC: When managerial accountants design an evaluation system that is based on criteria for which a...

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