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Management Accounting

 

 

One of the major uses of accounting information is assist management making decisions and managerial control functions. Management accounting, or managerial accounting, provides information mainly to management of an entity, analyzing individual and specific problems for decision making in various departments of a business. Management of a company, whether large or small, welcomes accounting information that is succinct, relevant, and helpful to their control of business and understanding of the performance and issues of the company, especially where information is presented as ratios or graphs and accompanied with an appropriate narrative interpretation.

While many companies outsource their financial accounting functions, more and more companies are realizing the need and benefits of outsourcing management accounting functions as one of the more effective management tools.

At Russell Bedford Hua-Ander, we have experts in the area of management accounting available to contribute their expertise and experience to your control of business and management decision-making. We can work independently or jointly with your own people. We can act as your financial controller, management accountant, or financial analyst to provide on-going advisory, assistance, and management information; we can produce management accounts in a format that suits your business needs; we can also undertake one-off assignments with the following examples:

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  • profit and loss analysis - margins, cost and expenses change and proportions, for the business or analysed by department
  • balance sheet item analysis - ratios, aging analysis, etc.
  • cash flows analysis
  • budgeting and budget analysis
  • cost variance analysis
  • credit control
  • inventory/fixed assets management
  • personnel cost (payroll and benefits) analysis
  • preparation/ review of business plans
  • project appraisals
  • product pricing analysis
  • performance evaluation of business units or departments
  • management accounting system setup
  • internal control system and monitoring (see also 'internal control')

 

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