Management accounting

This is the way toward distinguishing, examining, deciphering and imparting data to supervisors to help accomplish business goals.

[3] The information gathered includes all fields of accounting that educates the administration regarding business tasks identifying with the financial expenses and decisions made by the organization.

Its CMA postgraduate education program now is firmly established in 19 overseas markets, namely Bangladesh, Cambodia, China, Cyprus, Dubai, Hong Kong, India, Indonesia, Iran, Japan, Lebanon, Malaysia, Nepal, New Zealand, Papua New Guinea, Philippines; Singapore, Sri Lanka, Thailand and Vietnam.

To facilitate its educational objectives, the Institute has accredited a number of universities which have master's degree subjects that are equivalent to the CMA program.

The ICMA also has a number of Recognised Provider Institutions (RPIs) that run the CMA program in Australia and overseas.

They are more concerned with forward-looking and taking decisions that will affect the future of the organization; than in the historical recording and compliance (score keeping) aspects of the profession.

Variance analysis is a systematic approach to the comparison of the actual and budgeted costs of the raw materials and labour used during a production period.

Activity-based costing was first clearly defined in 1987 by Robert S. Kaplan and W. Bruns as a chapter in their book Accounting and Management: A Field Study Perspective.

[18] The origins of GPK are credited to Hans Georg Plaut, an automotive engineer, and Wolfgang Kilger, an academic, working towards the mutual goal of identifying and delivering a sustained methodology designed to correct and enhance cost accounting information.

GPK is published in cost accounting textbooks, notably Flexible Plankostenrechnung und Deckungsbeitragsrechnung[19] and taught at German-speaking universities.

In the mid- to late-1990s several books were written about accounting in the lean enterprise (companies implementing elements of the Toyota Production System).

These books contest that traditional accounting methods are better suited for mass production and do not support or measure good business practices in just-in-time manufacturing and services.

The movement reached a tipping point during the 2005 Lean Accounting Summit in Dearborn, Michigan, United States.

Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.

The treasury department will also assign funding credit to business units who bring in deposits (resources) to the bank.

Although the funds transfer pricing process is primarily applicable to the loans and deposits of the various banking units, this proactive is applied to all assets and liabilities of the business segment.

There are a variety of ways to keep current and continue to build one's knowledge base in the field of management accounting.