Copywriteroffice

Serp data

Request Result

The request result help you to show your API requests results.

stdClass Object
(
    [data] => stdClass Object
        (
            [query] => management accounting
            [search_url] => https://www.google.com/search?q=management+accounting&oq=management+accounting&num=30&hl=en&gl=US&sourceid=chrome&ie=UTF-8
            [device] => desktop
            [hl] => en
            [gl] => US
            [search_engine] => google.com
            [number_of_results] => 4060000000
            [related_searches] => Array
                (
                    [0] => stdClass Object
                        (
                            [title] => management accounting pdf
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+accounting+PDF&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAheEAE
                        )

                    [1] => stdClass Object
                        (
                            [title] => management accounting notes
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+Accounting+notes&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhbEAE
                        )

                    [2] => stdClass Object
                        (
                            [title] => management accounting course
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+Accounting+course&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhaEAE
                        )

                    [3] => stdClass Object
                        (
                            [title] => what is management accounting and its functions
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=What+is+management+accounting+and+its+functions&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhYEAE
                        )

                    [4] => stdClass Object
                        (
                            [title] => management accounting jobs
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+accounting+jobs&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhTEAE
                        )

                    [5] => stdClass Object
                        (
                            [title] => management accounting examples
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+accounting+examples&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhREAE
                        )

                    [6] => stdClass Object
                        (
                            [title] => management accounting book
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+Accounting+book&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhPEAE
                        )

                    [7] => stdClass Object
                        (
                            [title] => management accounting salary
                            [url] => https://www.google.com/search?num=30&hl=en&gl=US&q=Management+accounting+salary&sa=X&ved=2ahUKEwi0-O7K0Kz1AhUSGTQIHYI2BYAQ1QJ6BAhOEAE
                        )

                )

            [result] => Array
                (
                    [0] => stdClass Object
                        (
                            [description] => Find out how management accounting can your help business make long-term and short-term decisions about business operations
                            [title] => What Is Management Accounting? - FreshBooks
                            [url] => https://www.freshbooks.com/hub/accounting/management-accounting
                            [source] => https://www.freshbooks.com › hub › management-accoun...
                            [position] => 1
                            [serp_type] => featured snippet
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => What Is Management Accounting? - FreshBooks
                            [serp_description] => Management accounting is the process of preparing reports about business operations that help managers make short-term and long-term decisions. It helps a business pursue its goals by identifying, measuring, analyzing, interpreting and communicating information to managers.
                            [zero] => 1
                            [hostname] => freshbooks.com
                            [canonical] => https://www.freshbooks.com/hub/accounting/management-accounting
                            [h1] => What Is Management Accounting?
                            [h2] => Array
                                (
                                    [0] => What Is Management Accounting and Its Functions?
                                    [1] => What Is a Management Accounting System?
                                    [2] => What Is the Role of Management Accounting?
                                )

                            [h3] => Array
                                (
                                    [0] => 1. Helping Forecast the Future
                                    [1] => 2. Helping in Make-or-buy Decisions
                                    [2] => 3. Forecasting Cash Flows
                                    [3] => 4. Helping Understand Performance Variances
                                    [4] => 5. Analyzing the Rate of Return
                                    [5] => Want More Helpful Articles About Running a Business?
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => What Is Management Accounting and Its Functions?
                                            [id] => whatismanagementaccountinganditsfunctions
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => What Is a Management Accounting System?
                                            [id] => whatisamanagementaccountingsystem
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => What Is the Role of Management Accounting?
                                            [id] => whatistheroleofmanagementaccounting
                                        )

                                )

                            [modified_time] => stdClass Object
                                (
                                    [lastUpdate] => 
                                    [dateFormatted] => 29o November 2021
                                    [dateISO] => 2021-11-29T12:56:23+00:00
                                )

                            [type] => article
                            [wordCount] => 1130
                            [imgCount] => 7
                            [lang] => stdClass Object
                                (
                                    [langLinks] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [lang] => en-us
                                                    [url] => https://www.freshbooks.com/hub/accounting/management-accounting
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [lang] => x-default
                                                    [url] => https://www.freshbooks.com/hub/accounting/management-accounting
                                                )

                                        )

                                    [size] => 1
                                    [string] => en-us
                                )

                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 106
                                    [outboundSize] => 1
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => Get it
                                                    [href] => https://play.google.com/store/apps/details?id=com.freshbooks.andromeda&utm_source=
                                                    [hrefDomain] => google.com
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Is Management Accounting and Its Functions?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 1.  Helping Forecast the Future. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 2.  Helping in Make-or-buy Decisions. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 3.  Forecasting Cash Flows. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 4.  Helping Understand Performance Variances. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 5.  Analyzing the Rate of Return. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Is a Management Accounting System?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Is the Role of Management Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Want More Helpful Articles About Running a Business?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.freshbooks.com/wp-content/uploads/[email protected]
                                )

                            [schema_type] => Array
                                (
                                    [0] => Organization
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => What Is Management Accounting? The process of creating organization goals by identifying, measuring, analyzing, interpreting and communicating information to managers is call management or managerial accounting. Management accounting focuses on all accounting aimed at informing management about operational business metrics. It uses information relating to costs of products or services purchased by the company. Budgets are often used to quantify the decisions made in operational planning. Management accountants use performance reports to note variances between actual results from budgets. The main difference between management accounting and financial accounting is financial accounting is the collection of accounting data to create financial statements, while management accounting is the internal processing used to account for business transactions. This article will also discuss: What Is Management Accounting and Its Functions? What Is a Management Accounting System? What Is the Role of Management Accounting? NOTE: FreshBooks Support team members are not certified income tax or accounting professionals and cannot provide advice in these areas, outside of supporting questions about FreshBooks. If you need income tax advice please contact an accountant in your area. What Is Management Accounting and Its Functions? Management accounting is the process of preparing reports about business operations that help managers make short-term and long-term decisions. It helps a business pursue its goals by identifying, measuring, analyzing, interpreting and communicating information to managers. The main functions of management accounting include: 1.  Helping Forecast the Future. Forecasting helps decision to made and answers questions like: Should a company invest more in equipment? Should it diversify into different markets and regions? Should it buy another company? Management accounting helps answer important questions that can forecast future trends in business. 2.  Helping in Make-or-buy Decisions. Management accounting insights on cost and production availability are deciding factors in purchasing choices. Data from managerial accounting empower decision-making at both an operational and strategic level. 3.  Forecasting Cash Flows. Estimating cash flows and the impact of cash flows on the business is essential. Considering where the costs companies will incur in the future and where its revenue will come from can help a business make its next moves. Management accounting involves creating budgets and trend chars that manager use to decide how to allocate money and resources to generate the projected revenue growth. 4.  Helping Understand Performance Variances. Performance discrepancies in business are variances between what was predicted and what was achieved. Using analytical techniques, management accounting help management build on positive variances and manager the negative ones. 5.  Analyzing the Rate of Return. Knowing the rate of return (ROR) is essential to know before embarking on a project that requires a lot of investments. Vital questions that can be answered through management accounting include. If presented with two investment opportunities, how does a business choose the most profitable one? In how many years will a company break even on a project? What are the cash flows estimated to be? What Is a Management Accounting System? Internal management accounting systems are used to provide critical information to management to be used in operational business decision-making. A manufacturing company might use these systems to help in the costing and managing of their process. A hospital might use management accounting systems to assist them in insurance billing and other in-house requirements. These systems vary within the industries they are used within and allow for functionalities and reports specific to that industry. What Is the Role of Management Accounting? Management accounting helps managers within a company make decisions. Also known as cost accounting, management accounting is the process of identifying, analyzing, interpreting and communicating information to managers to help achieve business goals. The data collected encompasses all fields of accounting that informs the management of business operations relating to the costs of products or services purchased by the company. Management accountants use budgets to quantify the business’ plan of operations. Performance reports are used to note the deviation of actual results compared what was budgeted. RELATED ARTICLES What Are Profitability Ratios? Definition, Types & Importance Customer Profitability Analysis: Definition, Formula & How-to Guide What Is a Good Current Ratio? Profitability Index: Definition & Calculation Advantages and Disadvantages of Profitability Index Save Time Billing and Get Paid 2x Faster With FreshBooks Try FreshBooks Free Contact Sales Want More Helpful Articles About Running a Business? Get more great content in your Inbox. By subscribing, you agree to receive communications from FreshBooks and acknowledge and agree to FreshBook’s Privacy Policy. You can unsubscribe at any time by contacting us at [email protected] Close Optional cookies and other technologies We use analytics cookies to ensure you get the best experience on our website. You can decline analytics cookies and navigate our website, however cookies must be consented to and enabled prior to using the FreshBooks platform. To learn about how we use your data, please Read our Privacy Policy. Necessary cookies will remain enabled to provide core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions. To learn more about how we use your data, please read our Privacy Statement. I Accept No, Thank You This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Review our cookies information for more details. Agree Disagree
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 30
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 29
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 21
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 15
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => freshbook
                                            [tf] => 8
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 8
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => cooky
                                            [tf] => 8
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => manager
                                            [tf] => 7
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 7
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 6
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => system
                                            [tf] => 6
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => analyzing
                                            [tf] => 5
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 5
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => data
                                            [tf] => 5
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => management accounting system
                                            [tf] => 4
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => accounting management
                                            [tf] => 4
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => accounting system
                                            [tf] => 4
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => cash flow
                                            [tf] => 4
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => privacy
                                            [tf] => 4
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => process
                                            [tf] => 4
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => operational
                                            [tf] => 4
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => budget
                                            [tf] => 4
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => performance
                                            [tf] => 4
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => report
                                            [tf] => 4
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => variance
                                            [tf] => 4
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => function
                                            [tf] => 4
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => question
                                            [tf] => 4
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => help
                                            [tf] => 4
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => cash
                                            [tf] => 4
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => flow
                                            [tf] => 4
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => profitability
                                            [tf] => 4
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => management accounting process
                                            [tf] => 3
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => analyzing interpreting communicating
                                            [tf] => 3
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => interpreting communicating information
                                            [tf] => 3
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => communicating information manager
                                            [tf] => 3
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => accounting management accounting
                                            [tf] => 3
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => function management accounting
                                            [tf] => 3
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => accounting process
                                            [tf] => 3
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => analyzing interpreting
                                            [tf] => 3
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => interpreting communicating
                                            [tf] => 3
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => communicating information
                                            [tf] => 3
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => information manager
                                            [tf] => 3
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => function management
                                            [tf] => 3
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => helping
                                            [tf] => 3
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => future
                                            [tf] => 3
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => definition
                                            [tf] => 3
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => agree
                                            [tf] => 3
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => website
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 56
                            [rank] => 4842
                        )

                    [1] => stdClass Object
                        (
                            [position] => 2
                            [questions] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [question] => What do you mean by management accounting?
                                        )

                                    [1] => stdClass Object
                                        (
                                            [question] => What is the main purpose of management accounting?
                                        )

                                    [2] => stdClass Object
                                        (
                                            [question] => What is an example of managerial accounting?
                                        )

                                    [3] => stdClass Object
                                        (
                                            [question] => What are the 6 functions of management accounting?
                                        )

                                )

                            [organic_position] => 1
                            [serp_type] => questions
                            [isOrganicPage] => 
                            [isOrganic] => 1
                        )

                    [2] => stdClass Object
                        (
                            [position] => 3
                            [title] => Managerial Accounting Definition
                            [url] => https://www.investopedia.com/terms/m/managerialaccounting.asp
                            [destination] => https://www.investopedia.com › ... › Accounting
                            [description] => Managerial accounting is the practice of analyzing and communicating financial data to managers, who use the information to make business decisions
                            [isAmp] => 
                            [organic_position] => 2
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Managerial Accounting Definition - Investopedia
                            [serp_description] => Managerial accounting is the practice of analyzing and communicating financial data to managers, who use the information to make business decisions.
                            [hostname] => investopedia.com
                            [canonical] => https://www.investopedia.com/terms/m/managerialaccounting.asp
                            [h1] => Managerial Accounting
                            [h2] => Array
                                (
                                    [0] => What Is Managerial Accounting?
                                    [1] => How Managerial Accounting Works
                                    [2] => Managerial Accounting vs. Financial Accounting
                                    [3] => Types of Managerial Accounting
                                )

                            [h3] => Array
                                (
                                    [0] => Key Takeaways
                                    [1] => Product Costing and Valuation
                                    [2] => Cash Flow Analysis
                                    [3] => Inventory Turnover Analysis
                                    [4] => Constraint Analysis
                                    [5] => Financial Leverage Metrics
                                    [6] => Accounts Receivable (AR) Management
                                    [7] => Budgeting, Trend Analysis, and Forecasting
                                    [8] => Article Sources
                                    [9] => Related Terms
                                    [10] => Related Articles
                                    [11] => When is managerial accounting appropriate?
                                    [12] => How Financial Accounting Differs From Managerial Accounting
                                    [13] => The Common Concepts and Techniques of Managerial Accounting Defined
                                    [14] => Understanding the Cash Flow Statement
                                    [15] => What Is Accrual Accounting in Oracle Apps?
                                    [16] => Accountant Job Description & Average Salary
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => What Is Managerial Accounting?
                                            [id] => mntl-sc-block_1-0
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => How Managerial Accounting Works
                                            [id] => mntl-sc-block_1-0-5
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Managerial Accounting vs. Financial Accounting
                                            [id] => mntl-sc-block_1-0-10
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => Types of Managerial Accounting
                                            [id] => mntl-sc-block_1-0-19
                                        )

                                )

                            [type] => article
                            [wordCount] => 2139
                            [imgCount] => 10
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 142
                                    [outboundSize] => 4
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => GAAP and Public Companies
                                                    [href] => https://www.accountingfoundation.org/jsp/Foundation/Page/FAFBridgePage&cid=1176164539134
                                                    [hrefDomain] => accountingfoundation.org
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Advertise
                                                    [href] => https://www.dotdash.com/our-brands/
                                                    [hrefDomain] => dotdash.com
                                                    [rel] => noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => Contact Us
                                                    [href] => https://invcontent.zendesk.com/hc/en-us/requests/new
                                                    [hrefDomain] => zendesk.com
                                                    [rel] => noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => Careers
                                                    [href] => https://www.dotdash.com/careers/
                                                    [hrefDomain] => dotdash.com
                                                    [rel] => noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] =>   What Is Managerial Accounting?  . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 4
                                                            [name] => 
Managerial Accounting. 
                                                            [tag] => h4
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] =>   How Managerial Accounting Works  . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] =>   Managerial Accounting vs. Financial Accounting  . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
Key Takeaways. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] =>   Types of Managerial Accounting  . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Product Costing and Valuation  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Cash Flow Analysis  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Inventory Turnover Analysis  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Constraint Analysis  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Financial Leverage Metrics  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Accounts Receivable (AR) Management  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [6] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>   Budgeting, Trend Analysis, and Forecasting  . 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [7] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
Article Sources. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [8] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
Related Terms. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [9] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
Related Articles. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [10] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
When is managerial accounting appropriate?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [11] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
How Financial Accounting Differs From Managerial Accounting. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [12] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
The Common Concepts and Techniques of Managerial Accounting Defined. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [13] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
Understanding the Cash Flow Statement. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [14] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
What Is Accrual Accounting in Oracle Apps?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [15] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
Accountant Job Description & Average Salary. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.investopedia.com/thmb/n2Ao62JJI5z5tEti5NBipdG9uAs=/6000x4000/filters:fill(auto,1)/woman-signing-job-contract-1085970542-a656b0f8fc134f8e9ee0e60391b26f19.jpg
                                    [twitterImage] => https://www.investopedia.com/thmb/n2Ao62JJI5z5tEti5NBipdG9uAs=/6000x4000/filters:fill(auto,1)/woman-signing-job-contract-1085970542-a656b0f8fc134f8e9ee0e60391b26f19.jpg
                                )

                            [schema_type] => Array
                                (
                                    [0] => Array
                                        (
                                            [0] => Article
                                        )

                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Managerial Accounting By Alicia Tuovila Full Bio Alicia Tuovila is a certified public accountant with 7+ years of experience in financial accounting, with expertise in budget preparation, month and year-end closing, financial statement preparation and review, and financial analysis. She is an expert in personal finance and taxes, and earned her Master of Science in Accounting at University of Central Florida. Learn about our editorial policies Updated October 08, 2021 Reviewed by Margaret James Reviewed by Margaret James Full Bio Peggy James is a CPA with over 9 years of experience in accounting and finance, including corporate, nonprofit, and personal finance environments. She most recently worked at Duke University and is the owner of Peggy James, CPA, PLLC, serving small businesses, nonprofits, solopreneurs, freelancers, and individuals. Learn about our Financial Review Board Fact checked by Suzanne Kvilhaug Fact checked by Suzanne Kvilhaug Full Bio Suzanne is a researcher, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and has worked on print content for business owners, national brands, and major publications. Learn about our editorial policies Accounting The Evolution of Accounting and Accounting Terminology What Is Managerial Accounting? . Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals. It varies from financial accounting because the intended purpose of managerial accounting is to assist users internal to the company in making well-informed business decisions. 1:45 Managerial Accounting. How Managerial Accounting Works . Managerial accounting encompasses many facets of accounting aimed at improving the quality of information delivered to management about business operation metrics. Managerial accountants use information relating to the cost and sales revenue of goods and services generated by the company. Cost accounting is a large subset of managerial accounting that specifically focuses on capturing a company's total costs of production by assessing the variable costs of each step of production, as well as fixed costs. It allows businesses to identify and reduce unnecessary spending and maximize profits. Read more about the common concepts and techniques of managerial accounting. Managerial Accounting vs. Financial Accounting . The key difference between managerial accounting and financial accounting relates to the intended users of the information. Managerial accounting information is aimed at helping managers within the organization make well-informed business decisions, while financial accounting is aimed at providing financial information to parties outside the organization. Financial accounting must conform to certain standards, such as generally accepted accounting principles (GAAP). All publicly held companies are required to complete their financial statements in accordance with GAAP as a requisite for maintaining their publicly traded status. Most other companies in the U.S. conform to GAAP in order to meet debt covenants often required by financial institutions offering lines of credit. Because managerial accounting is not for external users, it can be modified to meet the needs of its intended users. This may vary considerably by company or even by department within a company. For example, managers in the production department may want to see their financial information displayed as a percentage of units produced in the period. The HR department manager may be interested in seeing a graph of salaries by employee over a period of time. Managerial accounting is able to meet the needs of both departments by offering information in whatever format is most beneficial to that specific need. Key Takeaways. Managerial accounting involves the presentation of financial information for internal purposes to be used by management in making key business decisions.Techniques used by managerial accountants are not dictated by accounting standards, unlike financial accounting.The presentation of managerial accounting data can be modified to meet the specific needs of its end-user.Managerial accounting encompasses many facets of accounting, including product costing, budgeting, forecasting, and various financial analysis. Types of Managerial Accounting . Product Costing and Valuation . Product costing deals with determining the total costs involved in the production of a good or service. Costs may be broken down into subcategories, such as variable, fixed, direct, or indirect costs. Cost accounting is used to measure and identify those costs, in addition to assigning overhead to each type of product created by the company. Managerial accountants calculate and allocate overhead charges to assess the full expense related to the production of a good. The overhead expenses may be allocated based on the number of goods produced or other activity drivers related to production, such as the square footage of the facility. In conjunction with overhead costs, managerial accountants use direct costs to properly value the cost of goods sold and inventory that may be in different stages of production. Marginal costing (sometimes called cost-volume-profit analysis) is the impact on the cost of a product by adding one additional unit into production. It is useful for short-term economic decisions. The contribution margin of a specific product is its impact on the overall profit of the company. Margin analysis flows into break-even analysis, which involves calculating the contribution margin on the sales mix to determine the unit volume at which the business’s gross sales equal total expenses. Break-even point analysis is useful for determining price points for products and services. Cash Flow Analysis . Managerial accountants perform cash flow analysis in order to determine the cash impact of business decisions. Most companies record their financial information on the accrual basis of accounting. Although accrual accounting provides a more accurate picture of a company's true financial position, it also makes it harder to see the true cash impact of a single financial transaction. A managerial accountant may implement working capital management strategies in order to optimize cash flow and ensure the company has enough liquid assets to cover short-term obligations. When a managerial accountant performs cash flow analysis, he will consider the cash inflow or outflow generated as a result of a specific business decision. For example, if a department manager is considering purchasing a company vehicle, he may have the option to either buy the vehicle outright or get a loan. A managerial accountant may run different scenarios by the department manager depicting the cash outlay required to purchase outright upfront versus the cash outlay over time with a loan at various interest rates. Inventory Turnover Analysis . Inventory turnover is a calculation of how many times a company has sold and replaced inventory in a given time period. Calculating inventory turnover can help businesses make better decisions on pricing, manufacturing, marketing, and purchasing new inventory. A managerial accountant may identify the carrying cost of inventory, which is the amount of expense a company incurs to store unsold items. If the company is carrying an excessive amount of inventory, there could be efficiency improvements made to reduce storage costs and free up cash flow for other business purposes. Constraint Analysis . Managerial accounting also involves reviewing the constraints within a production line or sales process. Managerial accountants help determine where bottlenecks occur and calculate the impact of these constraints on revenue, profit, and cash flow. Managers can then use this information to implement changes and improve efficiencies in the production or sales process. Financial Leverage Metrics . Financial leverage refers to a company's use of borrowed capital in order to acquire assets and increase its return on investments. Through balance sheet analysis, managerial accountants can provide management with the tools they need to study the company's debt and equity mix in order to put leverage to its most optimal use. Performance measures such as return on equity, debt to equity, and return on invested capital help management identify key information about borrowed capital, prior to relaying these statistics to outside sources. It is important for management to review ratios and statistics regularly to be able to appropriately answer questions from its board of directors, investors, and creditors. Accounts Receivable (AR) Management . Appropriately managing accounts receivable (AR) can have positive effects on a company's bottom line. An accounts receivable aging report categorizes AR invoices by the length of time they have been outstanding. For example, an AR aging report may list all outstanding receivables less than 30 days, 30 to 60 days, 60 to 90 days, and 90+ days. Through a review of outstanding receivables, managerial accountants can indicate to appropriate department managers if certain customers are becoming credit risks. If a customer routinely pays late, management may reconsider doing any future business on credit with that customer. Budgeting, Trend Analysis, and Forecasting . Budgets are extensively used as a quantitative expression of the company's plan of operation. Managerial accountants utilize performance reports to note deviations of actual results from budgets. The positive or negative deviations from a budget also referred to as budget-to-actual variances, are analyzed in order to make appropriate changes going forward. Managerial accountants analyze and relay information related to capital expenditure decisions. This includes the use of standard capital budgeting metrics, such as net present value and internal rate of return, to assist decision-makers on whether to embark on capital-intensive projects or purchases. Managerial accounting involves examining proposals, deciding if the products or services are needed, and finding the appropriate way to finance the purchase. It also outlines payback periods so management is able to anticipate future economic benefits. Managerial accounting also involves reviewing the trendline for certain expenses and investigating unusual variances or deviations. It is important to review this information regularly because expenses that vary considerably from what is typically expected are commonly questioned during external financial audits. This field of accounting also utilizes previous period information to calculate and project future financial information. This may include the use of historical pricing, sales volumes, geographical locations, customer tendencies, or financial information. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Financial Accounting Foundation. "GAAP and Public Companies." Accessed Aug. 16, 2021. Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Service Name Description Related Terms. Working Capital Management Definition Working capital management is a strategy that requires monitoring a company's current assets and liabilities to ensure its efficient operation. more What Is Cash Flow? Cash flow is the net amount of cash and cash equivalents being transferred into and out of a business. more Cost Accounting Definition Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing its variable and fixed costs. more Cost-Volume-Profit (CVP) Analysis Cost-volume-profit (CVP) analysis looks at the impact that varying levels of sales and product costs have on operating profit. more Accounting Definition Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business to oversight agencies, regulators, and the IRS. more Net Realizable Value (NRV) Net realizable value (NRV) is the value of an asset that can be realized upon its sale, minus a reasonable estimation of the costs involved in selling it. more Partner Links Related Articles. Accounting When is managerial accounting appropriate? Financial Statements How Financial Accounting Differs From Managerial Accounting. Accounting The Common Concepts and Techniques of Managerial Accounting Defined. Financial Statements Understanding the Cash Flow Statement. Company Profiles What Is Accrual Accounting in Oracle Apps? Salaries & Compensation Accountant Job Description & Average Salary. About Us Terms of Use Dictionary Editorial Policy Advertise News Privacy Policy Contact Us Careers California Privacy Notice # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 54
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 38
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 30
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 25
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 24
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 24
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 17
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 17
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 17
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 16
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => cash
                                            [tf] => 16
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => managerial accountant
                                            [tf] => 14
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 11
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => production
                                            [tf] => 11
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => flow
                                            [tf] => 10
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => cash flow
                                            [tf] => 9
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 9
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => capital
                                            [tf] => 9
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 8
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => impact
                                            [tf] => 8
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => manager
                                            [tf] => 8
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 8
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => sale
                                            [tf] => 8
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => inventory
                                            [tf] => 8
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => financial information
                                            [tf] => 7
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => profit
                                            [tf] => 7
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => department
                                            [tf] => 7
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => order
                                            [tf] => 6
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => expense
                                            [tf] => 6
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => business decision
                                            [tf] => 5
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => period
                                            [tf] => 5
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => time
                                            [tf] => 5
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => involf
                                            [tf] => 5
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => related
                                            [tf] => 5
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => volume
                                            [tf] => 5
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => receivable
                                            [tf] => 5
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => accounting managerial accounting
                                            [tf] => 4
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => managerial accounting involf
                                            [tf] => 4
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => financial statement
                                            [tf] => 4
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => editorial policy
                                            [tf] => 4
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => accounting managerial
                                            [tf] => 4
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => cost accounting
                                            [tf] => 4
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => department manager
                                            [tf] => 4
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => accounting involf
                                            [tf] => 4
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => capital management
                                            [tf] => 4
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => managerial accounting managerial
                                            [tf] => 3
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => managerial accounting financial
                                            [tf] => 3
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => cost volume profit
                                            [tf] => 3
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => cash flow analysi
                                            [tf] => 3
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => working capital management
                                            [tf] => 3
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => full bio
                                            [tf] => 3
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => total cost
                                            [tf] => 3
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => accounting financial
                                            [tf] => 3
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => product costing
                                            [tf] => 3
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => cost volume
                                            [tf] => 3
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => volume profit
                                            [tf] => 3
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => flow analysi
                                            [tf] => 3
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => analysi managerial
                                            [tf] => 3
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => working capital
                                            [tf] => 3
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => inventory turnover
                                            [tf] => 3
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => account receivable
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 63
                            [rank] => 646
                        )

                    [3] => stdClass Object
                        (
                            [position] => 4
                            [title] => Management accounting - Wikipedia
                            [url] => https://en.wikipedia.org/wiki/Management_accounting
                            [destination] => https://en.wikipedia.org › wiki › Management_accounti...
                            [isAmp] => 
                            [organic_position] => 3
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management accounting - Wikipedia
                            [serp_description] => In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of ...
                            [hostname] => en.wikipedia.org
                            [canonical] => https://en.wikipedia.org/wiki/Management_accounting
                            [h1] => Management accounting
                            [h2] => Array
                                (
                                    [0] => Contents
                                    [1] => Definition[edit]
                                    [2] => Scope, practice, and application[edit]
                                    [3] => Financial versus Management accounting[edit]
                                    [4] => Traditional versus innovative practices[edit]
                                    [5] => Role within a corporation[edit]
                                    [6] => Specific methodologies[edit]
                                    [7] => Resources and continuous learning[edit]
                                    [8] => Tasks and services provided[edit]
                                    [9] => Related qualifications[edit]
                                    [10] => Methods[edit]
                                    [11] => See also[edit]
                                    [12] => References[edit]
                                    [13] => Further reading[edit]
                                    [14] => External links[edit]
                                    [15] => Navigation menu
                                )

                            [h3] => Array
                                (
                                    [0] => Activity-based costing (ABC)[edit]
                                    [1] => Grenzplankostenrechnung[edit]
                                    [2] => Lean accounting (accounting for lean enterprise)[edit]
                                    [3] => Resource consumption accounting (RCA)[edit]
                                    [4] => Throughput accounting[edit]
                                    [5] => Transfer pricing[edit]
                                    [6] => Search
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Contents
                                            [id] => mw-toc-heading
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Definition[edit]
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Scope, practice, and application[edit]
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => Financial versus Management accounting[edit]
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => Traditional versus innovative practices[edit]
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Role within a corporation[edit]
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => Specific methodologies[edit]
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Resources and continuous learning[edit]
                                        )

                                    [8] => stdClass Object
                                        (
                                            [text] => Tasks and services provided[edit]
                                        )

                                    [9] => stdClass Object
                                        (
                                            [text] => Related qualifications[edit]
                                        )

                                    [10] => stdClass Object
                                        (
                                            [text] => Methods[edit]
                                        )

                                    [11] => stdClass Object
                                        (
                                            [text] => See also[edit]
                                        )

                                    [12] => stdClass Object
                                        (
                                            [text] => References[edit]
                                        )

                                    [13] => stdClass Object
                                        (
                                            [text] => Further reading[edit]
                                        )

                                    [14] => stdClass Object
                                        (
                                            [text] => External links[edit]
                                        )

                                    [15] => stdClass Object
                                        (
                                            [text] => Navigation menu
                                        )

                                )

                            [type] => website
                            [wordCount] => 3697
                            [imgCount] => 6
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 340
                                    [outboundSize] => 39
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => JSTOR
                                                    [href] => https://www.jstor.org/action/doBasicSearch?Query=%22Management+accounting%22&acc=on&wc=on
                                                    [hrefDomain] => jstor.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => 1092-8057
                                                    [href] => https://www.worldcat.org/search?fq=x0:jrnl&q=n2:1092-8057
                                                    [hrefDomain] => worldcat.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => "Definition of Management Accounting"
                                                    [href] => http://www.imanet.org/PDFs/Public/Research/SMA/Definition%20of%20Mangement%20Accounting.pdf
                                                    [hrefDomain] => imanet.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20161020120432/http://www.imanet.org/PDFs/Public/Research/SMA/Definition%20of%20Mangement%20Accounting.pdf
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => "What is Management Accounting? - Definition - Meaning - Example"
                                                    [href] => https://www.myaccountingcourse.com/accounting-dictionary/management-accounting
                                                    [hrefDomain] => myaccountingcourse.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20171006162414/https://www.myaccountingcourse.com/accounting-dictionary/management-accounting
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => "Global Management Accounting Principles"
                                                    [href] => http://www.cgma.org/Resources/Reports/Pages/GlobalManagementAccountingPrinciples.aspx
                                                    [hrefDomain] => cgma.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20150423144019/http://www.cgma.org/Resources/Reports/Pages/GlobalManagementAccountingPrinciples.aspx
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [text] => "New set of accounting principles can help drive sustainable success"
                                                    [href] => https://www.ft.com/cms/s/0/0b595a98-59fa-11e4-8771-00144feab7de.html?siteedition=uk#axzz3Q8Lp1OP9
                                                    [hrefDomain] => ft.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [text] => BASIC CONCEPTS OF ACCOUNTING
                                                    [href] => https://books.google.com/books?id=q5q2BgAAQBAJ&pg=PA49
                                                    [hrefDomain] => google.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [10] => stdClass Object
                                                (
                                                    [text] => "Positions and Issues"
                                                    [href] => http://www.aaahq.org/AECC/PositionsandIssues/issues4.htm
                                                    [hrefDomain] => aaahq.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [11] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20120427214402/http://aaahq.org/AECC/PositionsandIssues/issues4.htm
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [12] => stdClass Object
                                                (
                                                    [text] => "International Good Practice Guidance: Evaluating and Improving Costing in Organizations"
                                                    [href] => http://www.ifac.org/publications-resources/evaluating-and-improving-costing-organizations-0
                                                    [hrefDomain] => ifac.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [13] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20120404144149/http://www.ifac.org/publications-resources/evaluating-and-improving-costing-organizations-0
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [14] => stdClass Object
                                                (
                                                    [text] => "Cima P1 Exam Questions"
                                                    [href] => http://www.cimapastpapers.com/how-to-pass-cima-p1-exam
                                                    [hrefDomain] => cimapastpapers.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [15] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20161114235651/http://www.cimapastpapers.com/how-to-pass-cima-p1-exam
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [16] => stdClass Object
                                                (
                                                    [text] => "Consortium for Advanced Management International CAM-I"
                                                    [href] => http://www.CAM-I.org
                                                    [hrefDomain] => cam-i.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [17] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20171007163858/http://www.cam-i.org/
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [18] => stdClass Object
                                                (
                                                    [text] => Cost Management Section RCA interest group
                                                    [href] => http://www.cam-i.org/displaycommon.cfm?an=1&subarticlenbr=30
                                                    [hrefDomain] => cam-i.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [19] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20081207190442/http://www.cam-i.org/displaycommon.cfm?an=1&subarticlenbr=30
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [20] => stdClass Object
                                                (
                                                    [text] => "Cost Management"
                                                    [href] => http://ria.thomsonreuters.com/estore/printdetail.aspx?ID=ZMCMP
                                                    [hrefDomain] => thomsonreuters.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [21] => stdClass Object
                                                (
                                                    [text] => Institute of Management Accounting
                                                    [href] => https://www.lbtc.co.uk/accounting-finance-banking-blog/role-accounting-finance-department/
                                                    [hrefDomain] => lbtc.co.uk
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [22] => stdClass Object
                                                (
                                                    [text] => Archived
                                                    [href] => https://web.archive.org/web/20071207160120/http://www.imanet.org/publications_maq.asp
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [23] => stdClass Object
                                                (
                                                    [text] => https://aimsoftech.com/
                                                    [href] => https://aimsoftech.com/
                                                    [hrefDomain] => aimsoftech.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [24] => stdClass Object
                                                (
                                                    [text] => Managerial Accounting
                                                    [href] => https://saylordotorg.github.io/text_managerial-accounting/
                                                    [hrefDomain] => saylordotorg.github.io
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [25] => stdClass Object
                                                (
                                                    [text] => Management And Accounting Web
                                                    [href] => https://maaw.info/MAAWContents.htm
                                                    [hrefDomain] => maaw.info
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [26] => stdClass Object
                                                (
                                                    [text] => Resources in your library
                                                    [href] => https://ftl.toolforge.org/cgi-bin/ftl?st=wp&su=Management+accounting
                                                    [hrefDomain] => toolforge.org
                                                    [isOutbound] => 1
                                                )

                                            [27] => stdClass Object
                                                (
                                                    [text] => CAM-I Consortium for Advanced Manufacturing–International
                                                    [href] => http://www.CAM-I.org
                                                    [hrefDomain] => cam-i.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [28] => stdClass Object
                                                (
                                                    [text] => AICPA Financial Management Center
                                                    [href] => https://web.archive.org/web/20100223070657/http://fmcenter.aicpa.org/
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [29] => stdClass Object
                                                (
                                                    [text] => Institute of Management Accountants
                                                    [href] => http://www.imanet.org/
                                                    [hrefDomain] => imanet.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [30] => stdClass Object
                                                (
                                                    [text] => Chartered Institute of Management Accountants
                                                    [href] => http://www.cimaglobal.com/
                                                    [hrefDomain] => cimaglobal.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [31] => stdClass Object
                                                (
                                                    [text] => International Federation of Accountants
                                                    [href] => https://web.archive.org/web/20121116092504/http://www.ifac.org/about-ifac/professional-accountants-business
                                                    [hrefDomain] => archive.org
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [32] => stdClass Object
                                                (
                                                    [text] => The Accounting Adventurista Management Accounting
                                                    [href] => http://www.the-accounting-adventurista.com/management-accounting.html
                                                    [hrefDomain] => the-accounting-adventurista.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [33] => stdClass Object
                                                (
                                                    [text] => The Institute of Cost Accountants of India
                                                    [href] => https://icmai.in/icmai/index.php
                                                    [hrefDomain] => icmai.in
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [34] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.wikidata.org/wiki/Q2990807#identifiers
                                                    [hrefDomain] => wikidata.org
                                                    [isOutbound] => 1
                                                )

                                            [35] => stdClass Object
                                                (
                                                    [text] => Integrated Authority File (Germany)
                                                    [href] => https://d-nb.info/gnd/4032592-1
                                                    [hrefDomain] => d-nb.info
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [36] => stdClass Object
                                                (
                                                    [text] => United States
                                                    [href] => https://id.loc.gov/authorities/subjects/sh85080364
                                                    [hrefDomain] => loc.gov
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [37] => stdClass Object
                                                (
                                                    [text] => Japan
                                                    [href] => https://id.ndl.go.jp/auth/ndlna/00564923
                                                    [hrefDomain] => ndl.go.jp
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                            [38] => stdClass Object
                                                (
                                                    [text] => Microsoft Academic
                                                    [href] => https://academic.microsoft.com/v2/detail/74275925
                                                    [hrefDomain] => microsoft.com
                                                    [rel] => nofollow
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Contents. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Definition[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Scope, practice, and application[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Financial versus Management accounting[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Traditional versus innovative practices[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Role within a corporation[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Specific methodologies[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Activity-based costing (ABC)[edit]. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Grenzplankostenrechnung[edit]. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Lean accounting (accounting for lean enterprise)[edit]. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Resource consumption accounting (RCA)[edit]. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Throughput accounting[edit]. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Transfer pricing[edit]. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Resources and continuous learning[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [8] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Tasks and services provided[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [9] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Related qualifications[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [10] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Methods[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [11] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => See also[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [12] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => References[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [13] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Further reading[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [14] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => External links[edit]. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [15] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Navigation menu. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
				Search
			. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Ledger.png/1200px-Ledger.png
                                )

                            [schema_type] => Array
                                (
                                    [0] => Article
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management accounting From Wikipedia, the free encyclopedia Jump to navigation Jump to search Field of business administration, part of the internal accounting system of a company Part of a series onAccounting Historical cost Constant purchasing power Management Tax Major types Audit Budget Cost Forensic Financial Fund Governmental Management Social Tax Key concepts Accounting period Accrual Constant purchasing power Economic entity Fair value Going concern Historical cost Matching principle Materiality Revenue recognition Unit of account Selected accounts Assets Cash Cost of goods sold Depreciation / Amortization Equity Expenses Goodwill Liabilities Profit Revenue Accounting standards Generally-accepted principles Generally-accepted auditing standards Convergence International Financial Reporting Standards International Standards on Auditing Management Accounting Principles Financial statements Annual report Balance sheet Cash-flow Equity Income Management discussion Notes to the financial statements Bookkeeping Bank reconciliation Debits and credits Double-entry system FIFO and LIFO Journal Ledger / General ledger T accounts Trial balance Auditing Financial Internal Firms Report People and organizations Accountants Accounting organizations Luca Pacioli Development History Research Positive accounting Sarbanes–Oxley Act Misconduct Creative Earnings management Error account Hollywood Off-balance-sheet Two sets of books vte In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions. Contents. 1 Definition 2 Scope, practice, and application 3 Financial versus Management accounting 4 Traditional versus innovative practices 5 Role within a corporation 6 Specific methodologies 6.1 Activity-based costing (ABC) 6.2 Grenzplankostenrechnung 6.3 Lean accounting (accounting for lean enterprise) 6.4 Resource consumption accounting (RCA) 6.5 Throughput accounting 6.6 Transfer pricing 7 Resources and continuous learning 8 Tasks and services provided 9 Related qualifications 10 Methods 11 See also 12 References 13 Further reading 14 External links Definition[edit]. IFAC Definition of enterprise financial management concerning three broad areas: cost accounting; performance evaluation and analysis; planning and decision support. Managerial accounting is associated with higher value, more predictive information.[1] Copyright July 2009, International Federation of Accountants One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers.[2] In other words, management accounting helps directors inside an organization to make decisions. This can also be known as cost accounting. This is the way toward distinguishing, examining, deciphering and imparting data to supervisors to help accomplish business goals. The information gathered includes all fields accounting that educates the administration regarding business tasks identifying with the financial expenses and decisions made by the organization. Accountants use plans to measure the overall strategy of operations within the organization. According to the Institute of Management Accountants (IMA): "Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy".[3] Management accountants (also called managerial accountants) look at the events that happen in and around a business while considering the needs of the business. From this, data and estimates emerge. Cost accounting is the process of translating these estimates and data into knowledge that will ultimately be used to guide decision-making.[4] The Chartered Institute of Management Accountants (CIMA), the largest management accounting institute with over 100,000 members describes "Management accounting as analysing information to advise business strategy and drive sustainable business success". Scope, practice, and application[edit]. See also: Management accounting principles and Decision theory The Association of International Certified Professional Accountants (AICPA) states that management accounting as practice extends to the following three areas: Strategic management — advancing the role of the management accountant as a strategic partner in the organization Performance management — developing the practice of business decision-making and managing the performance of the organization Risk management — contributing to frameworks and practices for identifying, measuring, managing and reporting risks to the achievement of the objectives of the organization The Institute of Certified Management Accountants (CMA) states, "A management accountant applies his or her professional knowledge and skill in the preparation and presentation of financial and other decision oriented information in such a way as to assist management in the formulation of policies and in the planning and control of the operation undertaking". Management accountants are seen as the "value-creators" amongst the accountants. 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. Management accounting knowledge and experience can be obtained from varied fields and functions within an organization, such as information management, treasury, efficiency auditing, marketing, valuation, pricing, and logistics. In 2014 CIMA created the Global Management Accounting Principles (GMAPs).[5] The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline.[6] Financial versus Management accounting[edit]. This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: "Management accounting" – news · newspapers · books · scholar · JSTOR (March 2017) (Learn how and when to remove this template message) Management accounting information differs from financial accountancy information in several ways: while shareholders, creditors, and public regulators use publicly reported financial accountancy, information, only managers within the organization use the normally confidential management accounting information while financial accountancy information is historical, management accounting information is primarily forward-looking[7][self-published source?]; while financial accountancy information is case-based, management accounting information is model-based with a degree of abstraction in order to support generic decision making; while financial accountancy information is computed by reference to general financial accounting standards, management accounting information is computed by reference to the needs of managers, often using management information systems. Focus: Financial accounting focuses on the company as a whole. Management accounting provides detailed and disaggregated information about products, individual activities, divisions, plants, operations and tasks. Traditional versus innovative practices[edit]. Managerial costing time line[8] Used with permission by the author A. van der Merwe. Copyright 2011. All Rights Reserved. The distinction between traditional and innovative accounting practices is illustrated with the visual timeline (see sidebar) of managerial costing approaches presented at the Institute of Management Accountants 2011 Annual Conference. Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold (COGS) and inventory valuation. Traditional standard costing must comply with generally accepted accounting principles (GAAP US) and actually aligns itself more with answering financial accounting requirements rather than providing solutions for management accountants. Traditional approaches limit themselves by defining cost behavior only in terms of production or sales volume. In the late 1980s, accounting practitioners and educators were heavily criticized on the grounds that management accounting practices (and, even more so, the curriculum taught to accounting students) had changed little over the preceding 60 years, despite radical changes in the business environment. In 1993, the Accounting Education Change Commission Statement Number 4[9] calls for faculty members to expand their knowledge about the actual practice of accounting in the workplace.[10] Professional accounting institutes, perhaps fearing that management accountants would increasingly be seen as superfluous in business organizations, subsequently devoted considerable resources to the development of a more innovative skills set for management accountants. 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. While some form of variance analysis is still used by most manufacturing firms, it nowadays tends to be used in conjunction with innovative techniques such as life cycle cost analysis and activity-based costing, which are designed with specific aspects of the modern business environment in mind. Life-cycle costing recognizes that managers' ability to influence the cost of manufacturing a product is at its greatest when the product is still at the design stage of its product life-cycle (i.e., before the design has been finalized and production commenced), since small changes to the product design may lead to significant savings in the cost of manufacturing the products. Activity-based costing (ABC) recognizes that, in modern factories, most manufacturing costs are determined by the amount of 'activities' (e.g., the number of production runs per month, and the amount of production equipment idle time) and that the key to effective cost control is therefore optimizing the efficiency of these activities. Both lifecycle costing and activity-based costing recognize that, in the typical modern factory, the avoidance of disruptive events (such as machine breakdowns and quality control failures) is of far greater importance than (for example) reducing the costs of raw materials. Activity-based costing also de-emphasizes direct labor as a cost driver and concentrates instead on activities that drive costs, as the provision of a service or the production of a product component. Other approach is the German Grenzplankostenrechnung (GPK) costing methodology. Although it has been in practiced in Europe for more than 50 years, neither GPK nor the proper treatment of 'unused capacity' is widely practiced in the U.S.[11] Another accounting practice available today is resource consumption accounting (RCA). RCA has been recognized by the International Federation of Accountants (IFAC) as a "sophisticated approach at the upper levels of the continuum of costing techniques"[12] The approach provides the ability to derive costs directly from operational resource data or to isolate and measure unused capacity costs. RCA was derived by taking costing characteristics of GPK, and combining the use of activity-based drivers when needed, such as those used in activity-based costing.[12] A modern approach to close accounting is continuous accounting, which focuses on achieving a point-in-time close, where accounting processes typically performed at period-end are distributed evenly throughout the period. Role within a corporation[edit]. Consistent with other roles in modern corporations, management accountants have a dual reporting relationship. As a strategic partner and provider of decision based financial and operational information, management accountants are responsible for managing the business team and at the same time having to report relationships and responsibilities to the corporation's finance organization and finance of an organization. The activities management accountants provide inclusive of forecasting and planning, performing variance analysis, reviewing and monitoring costs inherent in the business are ones that have dual accountability to both finance and the business team. Examples of tasks where accountability may be more meaningful to the business management team vs. the corporate finance department are the development of new product costing, operations research, business driver metrics, sales management scorecarding, and client profitability analysis. (See financial planning.) Conversely, the preparation of certain financial reports, reconciliations of the financial data to source systems, risk and regulatory reporting will be more useful to the corporate finance team as they are charged with aggregating certain financial information from all segments of the corporation. In corporations that derive much of their profits from the information economy, such as banks, publishing houses, telecommunications companies and defence contractors, IT costs are a significant source of uncontrollable spending, which in size is often the greatest corporate cost after total compensation costs and property related costs. A function of management accounting in such organizations is to work closely with the IT department to provide IT cost transparency.[13] Given the above, one view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting.[14] Consistent with the notion of value creation, management accountants help drive the success of the business while strict financial accounting is more of a compliance and historical endeavor. Specific methodologies[edit]. Activity-based costing (ABC)[edit]. 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. They initially focused on the manufacturing industry, where increasing technology and productivity improvements have reduced the relative proportion of the direct costs of labor and materials, but have increased relative proportion of indirect costs. For example, increased automation has reduced labor, which is a direct cost, but has increased depreciation, which is an indirect cost. Grenzplankostenrechnung[edit]. This section may lend undue weight to certain ideas, incidents, or controversies. Please help to create a more balanced presentation. Discuss and resolve this issue before removing this message. (August 2018) Main article: Grenzplankostenrechnung Grenzplankostenrechnung (GPK) is a German costing methodology, developed in the late 1940s and 1960s, designed to provide a consistent and accurate application of how managerial costs are calculated and assigned to a product or service. The term Grenzplankostenrechnung, often referred to as GPK, has best been translated as either marginal planned cost accounting[15] or flexible analytic cost planning and accounting.[16] 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[17] and taught at German-speaking universities. Lean accounting (accounting for lean enterprise)[edit]. Main article: Lean accounting In the mid- to late-1990s several books were written about accounting in the lean enterprise (companies implementing elements of the Toyota Production System). The term lean accounting was coined during that period. 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. 320 individuals attended and discussed the advantages of a new approach to accounting in the lean enterprise. 520 individuals attended the 2nd annual conference in 2006 and it has varied between 250 and 600 attendees since that time. Resource consumption accounting (RCA)[edit]. Main article: Resource Consumption Accounting Resource consumption accounting (RCA) is formally defined as a dynamic, fully integrated, principle-based, and comprehensive management accounting approach that provides managers with decision support information for enterprise optimization. RCA emerged as a management accounting approach around 2000 and was subsequently developed at CAM-I,[18] the Consortium for Advanced Manufacturing–International, in a Cost Management Section RCA interest group[19] in December 2001. Throughput accounting[edit]. Main article: Throughput accounting The most significant recent direction in managerial accounting is throughput accounting; which recognizes the interdependencies of modern production processes. For any given product, customer or supplier, it is a tool to measure the contribution per unit of constrained resource. Transfer pricing[edit]. Main article: Transfer pricing Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented. For example, transfer pricing is a concept used in manufacturing but is also applied in banking. It is a fundamental principle used in assigning value and revenue attribution to the various business units. Essentially, transfer pricing in banking is the method of assigning the interest rate risk of the bank to the various funding sources and uses of the enterprise. Thus, the bank's corporate treasury department will assign funding charges to the business units for their use of the bank's resources when they make loans to clients. 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. Once transfer pricing is applied and any other management accounting entries or adjustments are posted to the ledger (which are usually memo accounts and are not included in the legal entity results), the business units are able to produce segment financial results which are used by both internal and external users to evaluate performance. Resources and continuous learning[edit]. There are a variety of ways to keep current and continue to build one's knowledge base in the field of management accounting. Certified Management Accountants (CMAs) are required to achieve continuing education hours every year, similar to a Certified Public Accountant. A company may also have research and training materials available for use in a corporate owned library. This is more common in Fortune 500 companies who have the resources to fund this type of training medium. There are also journals, online articles and blogs available. The journal Cost Management (ISSN 1092-8057)[20] and the Institute of Management Accounting (IMA)[21] site are sources which include Management Accounting Quarterly and Strategic Finance publications. Tasks and services provided[edit]. Listed below are the primary tasks/services performed by management accountants. The degree of complexity relative to these activities are dependent on the experience level and abilities of any one individual. Rate and volume analysis Business metrics development Price modeling Product profitability Geographic vs. industry or client segment reporting Sales management scorecards Cost analysis Cost–benefit analysis Cost-volume-profit analysis Life cycle cost analysis Client profitability analysis IT cost transparency Capital budgeting Buy vs. lease analysis Strategic planning Strategic management advice Internal financial presentation and communication Sales forecasting Financial forecasting Annual budgeting Cost allocation Related qualifications[edit]. There are several related professional qualifications and certifications in the field of accountancy including: Management Accountancy Qualifications CIMA ICMA ICAI-CMA ICMAP CMA Other Professional Accountancy Qualifications Chartered Institute of Public Finance and Accountancy, CIPFA Chartered Certified Accountant (ACCA) Cost & Management Accountant (CMA) Chartered Accountant (CA) Certified Public Accountant (CPA) American Institute of Certified Public Accountants Certified Practicing Accountant (CPA Australia) Chartered Global Management Accountant Methods[edit]. Activity-based costing Grenzplankostenrechnung (GPK) Lean accounting Resource consumption accounting Standard cost accounting Throughput accounting Transfer pricing See also[edit]. Managerial risk accounting Profit model Event to knowledge References[edit]. ^ Professional Accountants in Business Committee (2009). Evaluating and Improving Costing in Organizations (International Good Practice Guidance). International Federation of Accountants. p. 7 c. ISBN 9781608150373. ^ (Burns, Quinn, Warren & Oliveira, Management Accounting, McGraw-Hill, London, 2013) ^ "Definition of Management Accounting" (PDF). Institute of Management Accountants. 2008. Archived (PDF) from the original on 20 October 2016. Retrieved 4 December 2012. ^ "What is Management Accounting? - Definition - Meaning - Example". myaccountingcourse.com. Archived from the original on 6 October 2017. Retrieved 2 May 2018. ^ "Global Management Accounting Principles". 24 October 2014. Archived from the original on 2015-04-23. Retrieved 2015-04-16. ^ King, I. "New set of accounting principles can help drive sustainable success". ft.com. Retrieved 28 January 2015. ^ Ladda, Dr R. L. BASIC CONCEPTS OF ACCOUNTING. Lulu.com. ISBN 9781312161306.[self-published source] ^ van der Merwe, Anton (7 September 2011). Presentation at IMA's annual conference - Managerial Costing Conceptual Framework Session. Orlando, FL: Unpublished. ^ Accounting Education Change Commission (1993). "Positions and Issues". Issues Statement Number 4: Improving the Early Employment Experience of Accountants. Sarasota, FL: American Accounting Association. Archived from the original on 27 April 2012. Retrieved 2 November 2011. ^ Clinton, B.D.; Matuszewski, L.; Tidrick, D. (2011). "Escaping Professional Dominance?". Cost Management. New York: Thomas Reuters RIA Group (Sep/Oct). ^ Clinton, B.D.; Van der Merwe, Anton (2006). "Management Accounting - Approaches, Techniques, and Management Processes". Cost Management. New York: Thomas Reuters RIA Group (May/Jun). ^ a b Professional Accountants In Business Committee (July 2009). "International Good Practice Guidance: Evaluating and Improving Costing in Organizations". New York: International Federation of Accountants: 24. Archived from the original on 4 April 2012. Retrieved 10 November 2011. Cite journal requires |journal= (help) ^ * "Taking Control of IT Costs". Nokes, Sebastian. London (Financial Times / Prentice Hall): March 20, 2000. ISBN 978-0-273-64943-4 ^ "Cima P1 Exam Questions". Archived from the original on 2016-11-14. Retrieved 14 Nov 2016. ^ Friedl, Gunther; Hans-Ulrich Kupper; Burkhard Pedell (2005). "Relevance Added: Combining ABC with German Cost Accounting". Strategic Finance (June): 56–61. ^ Sharman, Paul A. (2003). "Bring On German Cost Accounting". Strategic Finance (December): 2–9. ^ Kilger, Wolfgang (2002). Flexible Plankostenrechnung and Deckungsbeitragsrechnung. Updated by Kurt Vikas and Jochen Pampel (12th ed.). Wiesbaden, Germany: Gabler GmbH. ^ "Consortium for Advanced Management International CAM-I". www.cam-i.org. Archived from the original on 7 October 2017. Retrieved 2 May 2018. ^ Cost Management Section RCA interest group Archived 2008-12-07 at the Wayback Machine ^ "Cost Management". Thomson Reuters. 2011. Retrieved November 12, 2011. ^ Institute of Management Accounting Archived 2007-12-07 at the Wayback Machine ["https://aimsoftech.com/">best accounting software] Further reading[edit]. Kurt Heisinger and Joe Hoyle, Managerial Accounting, ISBN 978-1-4533452-9-0. James R. Martin, Ph.D., CMA, Management And Accounting Web. External links[edit]. Library resources about Management accounting Resources in your library CAM-I Consortium for Advanced Manufacturing–International AICPA Financial Management Center – resource for CPAs working in business, industry and government Institute of Management Accountants – resource for management accountants (CMAs) working in industry Chartered Institute of Management Accountants International Federation of Accountants The Accounting Adventurista Management Accounting The Institute of Cost Accountants of India vteAccountingType Financial accounting Cost accounting Management accounting Forensic accounting Fund accounting Governmental accounting Social accounting Tax accounting Statements Income statement Balance sheet Statement of changes in equity Cash flow statement Terms Revenue Cost of goods sold Operating expense Capital expenditure Depreciation Gross income Net income Authority control General Integrated Authority File (Germany) National libraries United States Japan Other Microsoft Academic Retrieved from "https://en.wikipedia.org/w/index.php?title=Management_accounting&oldid=1061190273" Categories: Management accountingTypes of accountingAccounting terminologyHidden categories: CS1 errors: missing periodicalWebarchive template wayback linksArticles with short descriptionShort description matches WikidataArticles needing additional references from March 2017All articles needing additional referencesAll articles with self-published sourcesArticles with self-published sources from February 2020NPOV disputes from August 2018Articles with hatnote templates targeting a nonexistent pageArticles with GND identifiersArticles with LCCN identifiersArticles with NDL identifiersArticles with MA identifiers Navigation menu. Search .
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 115
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 97
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 58
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 46
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 42
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 38
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 27
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 24
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 23
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => costing
                                            [tf] => 22
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => resource
                                            [tf] => 19
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 18
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => practice
                                            [tf] => 17
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 16
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => activity
                                            [tf] => 16
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => based
                                            [tf] => 16
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => retrieved
                                            [tf] => 14
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => institute
                                            [tf] => 14
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => principle
                                            [tf] => 13
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => international
                                            [tf] => 13
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 13
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => cost accounting
                                            [tf] => 11
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => article
                                            [tf] => 11
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 11
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => approach
                                            [tf] => 11
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => activity based
                                            [tf] => 10
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => statement
                                            [tf] => 10
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 10
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => lean
                                            [tf] => 10
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => manufacturing
                                            [tf] => 10
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => finance
                                            [tf] => 10
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => archived original
                                            [tf] => 9
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => accountancy
                                            [tf] => 9
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => production
                                            [tf] => 9
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => archived
                                            [tf] => 9
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => activity based costing
                                            [tf] => 8
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => transfer pricing
                                            [tf] => 8
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => based costing
                                            [tf] => 8
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => institute management
                                            [tf] => 8
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => accounting principle
                                            [tf] => 7
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => accounting information
                                            [tf] => 7
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => cost management
                                            [tf] => 7
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => resource consumption accounting
                                            [tf] => 6
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => institute management accountant
                                            [tf] => 6
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => federation accountant
                                            [tf] => 6
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => lean accounting
                                            [tf] => 6
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => resource consumption
                                            [tf] => 6
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => consumption accounting
                                            [tf] => 6
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 6
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => management accounting principle
                                            [tf] => 5
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => international federation accountant
                                            [tf] => 5
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => management accounting information
                                            [tf] => 5
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => financial accountancy information
                                            [tf] => 5
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => decision making
                                            [tf] => 5
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => international federation
                                            [tf] => 5
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => financial accountancy
                                            [tf] => 5
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => accountancy information
                                            [tf] => 5
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => main article
                                            [tf] => 5
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => management accountant cma
                                            [tf] => 4
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => professional accountant
                                            [tf] => 4
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => published source
                                            [tf] => 4
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => consortium advanced
                                            [tf] => 4
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => balance sheet
                                            [tf] => 4
                                        )

                                    [63] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 4
                                        )

                                    [64] => stdClass Object
                                        (
                                            [term] => accounting lean
                                            [tf] => 4
                                        )

                                    [65] => stdClass Object
                                        (
                                            [term] => throughput accounting
                                            [tf] => 4
                                        )

                                    [66] => stdClass Object
                                        (
                                            [term] => accounting practice
                                            [tf] => 4
                                        )

                                    [67] => stdClass Object
                                        (
                                            [term] => accountant cma
                                            [tf] => 4
                                        )

                                    [68] => stdClass Object
                                        (
                                            [term] => life cycle
                                            [tf] => 4
                                        )

                                    [69] => stdClass Object
                                        (
                                            [term] => business unit
                                            [tf] => 4
                                        )

                                    [70] => stdClass Object
                                        (
                                            [term] => cost good sold
                                            [tf] => 3
                                        )

                                    [71] => stdClass Object
                                        (
                                            [term] => accounting lean enterprise
                                            [tf] => 3
                                        )

                                    [72] => stdClass Object
                                        (
                                            [term] => consumption accounting rca
                                            [tf] => 3
                                        )

                                    [73] => stdClass Object
                                        (
                                            [term] => van der merwe
                                            [tf] => 3
                                        )

                                    [74] => stdClass Object
                                        (
                                            [term] => management accounting approach
                                            [tf] => 3
                                        )

                                    [75] => stdClass Object
                                        (
                                            [term] => certified public accountant
                                            [tf] => 3
                                        )

                                    [76] => stdClass Object
                                        (
                                            [term] => cost good
                                            [tf] => 3
                                        )

                                    [77] => stdClass Object
                                        (
                                            [term] => good sold
                                            [tf] => 3
                                        )

                                    [78] => stdClass Object
                                        (
                                            [term] => accounting standard
                                            [tf] => 3
                                        )

                                    [79] => stdClass Object
                                        (
                                            [term] => generally accepted
                                            [tf] => 3
                                        )

                                    [80] => stdClass Object
                                        (
                                            [term] => financial statement
                                            [tf] => 3
                                        )

                                    [81] => stdClass Object
                                        (
                                            [term] => assist management
                                            [tf] => 3
                                        )

                                    [82] => stdClass Object
                                        (
                                            [term] => lean enterprise
                                            [tf] => 3
                                        )

                                    [83] => stdClass Object
                                        (
                                            [term] => accounting rca
                                            [tf] => 3
                                        )

                                    [84] => stdClass Object
                                        (
                                            [term] => chartered institute
                                            [tf] => 3
                                        )

                                    [85] => stdClass Object
                                        (
                                            [term] => accounting institute
                                            [tf] => 3
                                        )

                                    [86] => stdClass Object
                                        (
                                            [term] => global management
                                            [tf] => 3
                                        )

                                    [87] => stdClass Object
                                        (
                                            [term] => managerial costing
                                            [tf] => 3
                                        )

                                    [88] => stdClass Object
                                        (
                                            [term] => van der
                                            [tf] => 3
                                        )

                                    [89] => stdClass Object
                                        (
                                            [term] => der merwe
                                            [tf] => 3
                                        )

                                    [90] => stdClass Object
                                        (
                                            [term] => annual conference
                                            [tf] => 3
                                        )

                                    [91] => stdClass Object
                                        (
                                            [term] => variance analysi
                                            [tf] => 3
                                        )

                                    [92] => stdClass Object
                                        (
                                            [term] => cost analysi
                                            [tf] => 3
                                        )

                                    [93] => stdClass Object
                                        (
                                            [term] => grenzplankostenrechnung gpk
                                            [tf] => 3
                                        )

                                    [94] => stdClass Object
                                        (
                                            [term] => accounting resource
                                            [tf] => 3
                                        )

                                    [95] => stdClass Object
                                        (
                                            [term] => accounting approach
                                            [tf] => 3
                                        )

                                    [96] => stdClass Object
                                        (
                                            [term] => certified public
                                            [tf] => 3
                                        )

                                    [97] => stdClass Object
                                        (
                                            [term] => public accountant
                                            [tf] => 3
                                        )

                                    [98] => stdClass Object
                                        (
                                            [term] => strategic finance
                                            [tf] => 3
                                        )

                                    [99] => stdClass Object
                                        (
                                            [term] => analysi cost
                                            [tf] => 3
                                        )

                                    [100] => stdClass Object
                                        (
                                            [term] => original
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 86
                            [rank] => 20
                        )

                    [4] => stdClass Object
                        (
                            [position] => 5
                            [title] => Management Accounting Careers - Accounting.com
                            [url] => https://www.accounting.com/careers/management-accounting/
                            [destination] => https://www.accounting.com › careers › management-a...
                            [description] => Learn about management accounting careers. Discover the responsibilities, salaries, job growth and education needed for careers in managerial accounting
                            [isAmp] => 
                            [date] => Oct 20, 2021
                            [organic_position] => 4
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accounting Careers
                            [serp_description] => Managerial accountants work within companies and organizations to direct internal financial processes; monitor costs, sales, spending and ...
                            [hostname] => accounting.com
                            [canonical] => https://www.accounting.com/careers/management-accounting/
                            [h1] => Management Accounting
                            [h2] => Array
                                (
                                    [0] => An Overview of Management Accounting
                                    [1] => Featured Online Programs
                                    [2] => Careers in Management Accounting
                                    [3] => Specializations
                                    [4] => Frequently Asked Questions About Management Accounting
                                    [5] => Recommended Reading
                                    [6] => Search top-tier programs curated by your interests
                                )

                            [h3] => Array
                                (
                                    [0] => Budget Analyst
                                    [1] => Responsibilities
                                    [2] => Job Stats
                                    [3] => Education and Experience Requirements
                                    [4] => Additional Qualifications Recommended
                                    [5] => Financial Analyst
                                    [6] => Responsibilities
                                    [7] => Job Stats
                                    [8] => Education and Experience Requirements
                                    [9] => Additional Qualifications Recommended
                                    [10] => Accounting Manager
                                    [11] => Responsibilities
                                    [12] => Job Stats
                                    [13] => Education and Experience Requirements
                                    [14] => Additional Qualifications Recommended
                                    [15] => Controller
                                    [16] => Responsibilities
                                    [17] => Job Stats
                                    [18] => Education and Experience Requirements
                                    [19] => Additional Qualifications Recommended
                                    [20] => Chief Financial Officer (CFO)
                                    [21] => Responsibilities
                                    [22] => Job Stats
                                    [23] => Education and Experience Requirements
                                    [24] => Additional Qualifications Recommended
                                    [25] => What does a management accountant do?
                                    [26] => What does a management accountant earn?
                                    [27] => Is there certification for management accounting?
                                    [28] => What are the qualities of a good management accountant?
                                    [29] => What's the difference between a budget analyst and a financial analyst?
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => An Overview of Management Accounting
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Featured Online Programs
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Careers in Management Accounting
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => Specializations
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => Frequently Asked Questions About Management Accounting
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Recommended Reading
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => Search top-tier programs curated by your interests
                                        )

                                )

                            [published_time] => stdClass Object
                                (
                                    [lastUpdate] => 
                                    [dateFormatted] => 12o August 2020
                                    [dateISO] => 2020-08-12T21:05:07+00:00
                                )

                            [modified_time] => stdClass Object
                                (
                                    [lastUpdate] => 
                                    [dateFormatted] => 20o October 2021
                                    [dateISO] => 2021-10-20T22:36:02+00:00
                                )

                            [type] => article
                            [wordCount] => 2129
                            [imgCount] => 5
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 32
                                    [outboundSize] => 21
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => budget analyst positions
                                                    [href] => https://www.bls.gov/ooh/business-and-financial/budget-analysts.htm
                                                    [hrefDomain] => bls.gov
                                                    [rel] => noreferrer noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Robert Half 2015 Salary Guide
                                                    [href] => https://www.roberthalf.com/salary-guide/accounting-and-finance
                                                    [hrefDomain] => roberthalf.com
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => CPA
                                                    [href] => https://www.aicpa.org/becomeacpa.html
                                                    [hrefDomain] => aicpa.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => CGFM
                                                    [href] => https://www.agacgfm.org/CGFM-Certification.aspx
                                                    [hrefDomain] => agacgfm.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => financial analyst positions in 2012
                                                    [href] => https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm
                                                    [hrefDomain] => bls.gov
                                                    [rel] => noreferrer noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => Robert Half 2015 Salary Guide
                                                    [href] => https://www.roberthalf.com/salary-guide/accounting-and-finance
                                                    [hrefDomain] => roberthalf.com
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => CMA
                                                    [href] => https://www.imanet.org/cma-certification?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => CFA
                                                    [href] => https://www.cfainstitute.org/programs/cfa
                                                    [hrefDomain] => cfainstitute.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [text] => accountants and auditors
                                                    [href] => https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
                                                    [hrefDomain] => bls.gov
                                                    [rel] => noreferrer noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [text] => Robert Half 2015 Salary Guide for Accounting and Finance
                                                    [href] => https://www.roberthalf.com/finance/the-salary-guide-for-accounting-and-finance
                                                    [hrefDomain] => roberthalf.com
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [10] => stdClass Object
                                                (
                                                    [text] => CPA
                                                    [href] => https://www.aicpa.org/becomeacpa.html
                                                    [hrefDomain] => aicpa.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [11] => stdClass Object
                                                (
                                                    [text] => CMA
                                                    [href] => https://www.imanet.org/cma-certification?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [12] => stdClass Object
                                                (
                                                    [text] => 532,100 financial managers in 2012
                                                    [href] => https://www.bls.gov/ooh/management/financial-managers.htm
                                                    [hrefDomain] => bls.gov
                                                    [rel] => noreferrer noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [13] => stdClass Object
                                                (
                                                    [text] => Robert Half 2015 Salary Guide for Accounting and Finance
                                                    [href] => https://www.roberthalf.com/salary-guide/accounting-and-finance
                                                    [hrefDomain] => roberthalf.com
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [14] => stdClass Object
                                                (
                                                    [text] => CPA
                                                    [href] => https://www.aicpa.org/becomeacpa.html
                                                    [hrefDomain] => aicpa.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [15] => stdClass Object
                                                (
                                                    [text] => CMA
                                                    [href] => https://www.imanet.org/cma-certification?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [16] => stdClass Object
                                                (
                                                    [text] => total number of top executive jobs in 2012
                                                    [href] => https://www.bls.gov/ooh/management/top-executives.htm
                                                    [hrefDomain] => bls.gov
                                                    [rel] => noreferrer noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [17] => stdClass Object
                                                (
                                                    [text] => Robert Half 2015 Salary Guide for Accounting and Finance
                                                    [href] => https://www.roberthalf.com/salary-guide/accounting-and-finance
                                                    [hrefDomain] => roberthalf.com
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [18] => stdClass Object
                                                (
                                                    [text] => CPA
                                                    [href] => https://www.aicpa.org/becomeacpa.html
                                                    [hrefDomain] => aicpa.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [19] => stdClass Object
                                                (
                                                    [text] => CMA
                                                    [href] => https://www.imanet.org/cma-certification?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                            [20] => stdClass Object
                                                (
                                                    [text] => According to PayScale
                                                    [href] => https://www.payscale.com/research/US/Job=Management_Accountant/Salary
                                                    [hrefDomain] => payscale.com
                                                    [rel] => noreferrer noopener
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 4
                                            [name] => Are you ready to find a school that's aligned with your interests?
                                            [tag] => h4
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => An Overview of Management Accounting. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Featured Online Programs. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Careers in Management Accounting. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Specializations. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Budget Analyst. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Responsibilities. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Job Stats. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Education and Experience Requirements. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Additional Qualifications Recommended. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Financial Analyst. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [6] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Responsibilities. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [7] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Job Stats. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [8] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Education and Experience Requirements. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [9] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Additional Qualifications Recommended. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [10] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Accounting Manager. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [11] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Responsibilities. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [12] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Job Stats. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [13] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Education and Experience Requirements. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [14] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Additional Qualifications Recommended. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [15] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Controller. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [16] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Responsibilities. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [17] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Job Stats. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [18] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Education and Experience Requirements. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [19] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Additional Qualifications Recommended. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [20] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chief Financial Officer (CFO). 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [21] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Responsibilities. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [22] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Job Stats. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [23] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Education and Experience Requirements. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [24] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Additional Qualifications Recommended. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Frequently Asked Questions About Management Accounting. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => What does a management accountant do?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => What does a management accountant earn?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Is there certification for management accounting?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => What are the qualities of a good management accountant?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => What's the difference between a budget analyst and a financial analyst?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Recommended Reading. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 4
                                                            [name] => Most Affordable Online Accounting Programs 2022. 
                                                            [tag] => h4
                                                            [children] => Array
                                                                (
                                                                    [0] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => Best Online Accounting Master’s Degree Programs 2022. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [1] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => Best Online Bachelor’s Degrees in Accounting 2022. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                )

                                                        )

                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Search top-tier programs curated by your interests.
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://res.cloudinary.com/highereducation/images/v1618320346/Accounting.com/GettyImages-1159741264/GettyImages-1159741264.jpg?_i=AA
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management Accounting October 20, 2021 | Accounting.com Staff Are you ready to find a school that's aligned with your interests? An Overview of Management Accounting. The field of Management Accounting, often referred to as Managerial Accounting or Corporate Accounting, includes the financial and accounting tasks required to operate a business. Managerial accountants work within companies and organizations to direct internal financial processes; monitor costs, sales, spending and budgets; conduct audits; identify past trends and predict future needs; and assist company leaders with financial decisions.Management accountants are often confused with financial accountants; while both provide valuable services to an organization, there are key differences between the two roles. Managerial accounting primarily involves completing tasks and producing reports that inform company leadership about financial decisions related to general company operations. Financial accounting’s central focus is informing external groups – such as banks, boards of directors, stockholders and tax agencies – about the company’s financial status.Someone entering the managerial accounting field should be skilled in risk management, budget planning, strategic planning and financial data analysis. These accountants also have a detailed knowledge of generally accepted accounting principles (GAAP), strong communication skills and a forward thinking approach to their work. Featured Online Programs. Find a program that meets your affordability, flexibility, and education needs through an accredited, online school. Careers in Management Accounting. Management accountants find employment opportunities in a variety of work settings and industries. Professionals in this field are in demand in public and private companies, nonprofit organizations and government offices. Each company designates specific job titles and responsibilities based on their business model and needs.The primary duties of a management accountant vary according to an organization’s size, compliance and reporting requirements, and total revenue. Review the following career profiles for expectations of management accounting positions representing entry-, mid- and senior-level employment.Specializations. Budget Analyst. Budget analyst positions are found at a wide range of companies and organizations, as well as at all levels of government. They often report to accounting or finance managers. Job titles with similar responsibilities include cost estimators, budget accountants and management analysts. Collapse All Expand All Responsibilities. Organize financial tasks Develop budgets Monitor cost and revenue trends Inform project managers of budget details Make strategic planning and resource allocation recommendations Job Stats. Employment Numbers: As of 2012, the Bureau of Labor Statistics reported 61,700 budget analyst positions nationwide. Salary: The Robert Half 2015 Salary Guide indicates that budget analysts working in mid-size companies, who also have one to three years of experience, can expect an annual salary of $53,000 to $71,750. Salary amounts may be higher at larger companies and for analysts with more experience. Projected Growth: The number of budget analyst positions available is expected to increase 6% between 2012 and 2022, which is slower than average growth across all occupations as predicted by the Bureau of Labor Statistics. Education and Experience Requirements. A bachelor’s or master’s degree in accounting, statistics, finance, business or a related field is expected. Five or fewer years of relevant experience is typical for entry-level budget analyst positions. Additional Qualifications Recommended. CPA: The Certified Public Accountant license is granted through State Boards of Accountancy. The process includes examination, as well as documentation of required education and prior experience as determined by each state. CGFM: The Certified Government Financial Manager credential may be preferred or required for positions in government agencies. The requirements include a bachelor’s degree, three examinations, at least two years of related experience and continuing education. Financial Analyst. Financial analysts work in a wide range of industries from international businesses and insurance companies to credit institutions and nonprofit organizations. They often report to a senior accountant or financial manager. risk analysts, staff accountants and portfolio managers have similar roles and responsibilities. Collapse All Expand All Responsibilities. Make cost management decisions Invest funds Improve financial practices Provide detailed data analysis and reports that track budget trends and forecast future needs. Job Stats. Employment numbers: The Bureau of Labor Statistics reports a total of 253,000 financial analyst positions in 2012. Salary: According to the Robert Half 2015 Salary Guide, financial analysts at mid-size companies, who have one to three years of experience, can expect to earn $55,250 to $72,500 annually. Salaries are typically higher at larger companies and for those with more experience. Projected growth: The job outlook for financial analyst jobs is positive. The Bureau of Labor Statistics indicates that 16% growth is expected between 2012 and 2022, driven in part by the need for expertise in investment analysis and regulatory reform. Education and Experience Requirements. A bachelor’s or master’s degree in accounting, finance, economics, statistics or a related field is expected. Three or more years of relevant experience is typical of accountants entering a financial analyst position. Additional Qualifications Recommended. CMA: The Certified Management Accountant credential, offered through the Institute of Management Accountants, includes work experience, an exam and continuing education. CFA: The Chartered Financial Analyst credential is another option for accountants who will be working primarily on tasks related to investment analysis and portfolio management. Accounting Manager. Accounting managers work in a range of settings, from retail and healthcare to education and nonprofits. This role usually reports to a senior-level position, such as a finance director or a corporate controller. Job titles with responsibilities similar to those of an accounting manager include: accounting supervisor, accounting manager and senior accountant. Collapse All Expand All Responsibilities. Prepare financial statements and balance sheets Assist with auditing requirements Ensure compliance with financial regulations Oversee the organization’s accounting processes Supervise and train staff accountants Job Stats. Employment numbers: The Bureau of Labor Statistics’ ongoing data collection found that there were 1,275,400 accountants and auditors employed in 2012. Salary: Accountants working in management positions at mid-size companies can expect to earn an annual salary of $74,500 to $97,500, according to the Robert Half 2015 Salary Guide for Accounting and Finance. Salaries are generally lower at smaller companies and higher at larger companies. Projected growth: Accountants and auditors in general can expect average growth of 13% between 2012 and 2022. The Bureau of Labor Statistics attributes this increase in part to the impact of financial regulations and need for accounting expertise in global business operations. Education and Experience Requirements. A bachelor’s or master’s degree in accounting, business, finance or a related field is expected. Five to seven years of related experience is typical for accountants seeking management positions. Additional Qualifications Recommended. CPA: The Certified Public Accountant license, granted through State Boards of Accountancy, may be preferred or required for some management-level positions. The process includes required education and prior experience as determined by each state, and an exam. CMA: The Certified Management Accountant credential is earned through a combination of work experience, an exam and continuing education. This certification is offered by the Institute of Management Accountants. Controller. Controller positions are found in business settings, nonprofit organizations and government agencies. The range of responsibilities varies based on the size of the company and its accounting office. The duties and expectations are similar to those found in other positions, such as finance manager, director of accounting, corporate controller and comptroller. Collapse All Expand All Responsibilities. Oversee all accounting functions Maintain financial data Supervise accounts payable and receivable transactions Audit financial documents and processes File tax returns Establish internal accounting policies and procedures Create financial reports Job Stats. Employment numbers: There were 532,100 financial managers in 2012, according to the Bureau of Labor Statistics. Salary: The Robert Half 2015 Salary Guide for Accounting and Finance reports an annual salary range of $79,250 to $209,000 for controllers. Smaller companies with lower overall revenue or sales generally offer lower salaries for this position. Projected growth: The Bureau of Labor Statistics indicates that this position will see average growth of 9% between 2012 and 2022, but this can vary depending on the industry of employment. Education and Experience Requirements. A bachelor’s or master’s degree in accounting, finance, business administration or a related field is expected. Five to 10 years of related experience is typical for management accountants seeking positions at this level. Additional Qualifications Recommended. CPA: Earning a Certified Public Accountant license includes an exam and the documentation of education and prior experience. This may be required if the company is publicly traded and reporting to the Securities and Exchange Commission. CMA: The Certified Management Accountant credential is earned through a combination of work experience, an exam and continuing education. This certification is offered by the Institute of Management Accountants. Chief Financial Officer (CFO). CFOs are top-level executives found in small and large companies, with varying responsibilities based on the size of the staff and budget, as well as the nature of the organization’s programs, products and services. Similar roles and job titles include treasurer, director of finance and vice president of finance. Collapse All Expand All Responsibilities. Lead all financial operations Fundraising and investing Risk management Budget planning Ensure regulatory compliance Report to the board of directors Participate in high-level decisions about asset allocation and strategic planning Provide oversight for human resources, accounting and other offices within an organization Job Stats. Employment numbers: According to the Bureau of Labor Statistics, the total number of top executive jobs in 2012 was 2,303,200. This number includes CFOs, as well as those in roles like Chief Information Officer (CIO) and Chief Operating Officer (COO). Salary: The Robert Half 2015 Salary Guide for Accounting and Finance reports the annual salary range for CFOs is $105,000 to $465,750. Higher salaries are expected at companies with higher sales volume. Accounting professionals working at this level may also be eligible for bonuses and financial incentives on top of their salaries. Projected growth: The Bureau of Labor Statistics predicts average growth for top executive positions, with an 11% increase expected from 2012 to 2022. Education and Experience Requirements. A master’s degree in accounting, business administration or a related field is generally preferred Ten or more years of experience in positions leading to the CFO role Additional Qualifications Recommended. CPA: The Certified Public Accountant license is expected at this level. The process includes an examination, as well as documentation of required education and prior experience as determined by each state. CMA: The Certified Management Accountant credential is earned through the Institute of Management Accountants. The process includes work experience, an exam and continuing education. Frequently Asked Questions About Management Accounting. Collapse All Expand All What does a management accountant do? Management accountants work with their organization’s executive management. They analyze financial data, including risk data, and provide reports so that managers can make strategic business decisions. What does a management accountant earn? According to PayScale, management accountants earn an average annual salary of $60,118. Prospective earnings grow depending on experience, location, and skills. High-value skills for management accountants include accounting, data analysis, and budget management. Is there certification for management accounting? Yes, employers often look for management accountants who hold certified management accountant, or CMA, credentials. The certification tests for skills in planning and analysis, performance management, and risk management and internal controls. What are the qualities of a good management accountant? A good management accountant needs leadership and communication skills. Employers also look for workers with a thorough understanding of risk management and business structures. What's the difference between a budget analyst and a financial analyst? Budget analysts plan budgets and collaborate with managers to ensure that projects adhere to the outlined specifications. Financial analysts work to improve financial operations for their companies through investments, cost management, and financial forecasting. Recommended Reading. Most Affordable Online Accounting Programs 2022. December 21, 2021   |   Alaina McCartney Kick off your finance career with one of these affordable online accounting degrees. Compare the top programs, crunch the numbers, and get the best value. Best Online Accounting Master’s Degree Programs 2022. December 21, 2021   |   Staff Writers A master's in accounting opens the door to in-demand, lucrative careers. Explore our list of the best accounting master's degree programs for 2021. Best Online Bachelor’s Degrees in Accounting 2022. December 21, 2021   |   atatum Bachelor's degrees in accounting can build strong careers. Become an accountant through an accredited, affordable program that leads to CPA certification. Search top-tier programs curated by your interests. Let us know what type of degree you're looking into, and we'll find a list of the best programs to get you there. Close Latest Posts Improving Diversity in C-Suite Positions Top Accounting Graduate Certificates Certified Financial Planning (CFP) How to Improve Diversity in Accounting Hedge Fund Accountant Salary Guide
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 48
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 41
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 41
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 37
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => experience
                                            [tf] => 24
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 23
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => salary
                                            [tf] => 22
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 20
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => degree
                                            [tf] => 20
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => position
                                            [tf] => 20
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => analyst
                                            [tf] => 20
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => budget
                                            [tf] => 19
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => the
                                            [tf] => 18
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => education
                                            [tf] => 16
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 15
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => master
                                            [tf] => 14
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => degree accounting
                                            [tf] => 13
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => 2012
                                            [tf] => 13
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => statistic
                                            [tf] => 13
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => include
                                            [tf] => 13
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => finance
                                            [tf] => 13
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => manager
                                            [tf] => 13
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => job
                                            [tf] => 12
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => labor statistic
                                            [tf] => 11
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => program
                                            [tf] => 11
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => growth
                                            [tf] => 11
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 11
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => work
                                            [tf] => 11
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => report
                                            [tf] => 11
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => responsibility
                                            [tf] => 11
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => certified
                                            [tf] => 11
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => bureau labor statistic
                                            [tf] => 10
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => bureau labor
                                            [tf] => 10
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => level
                                            [tf] => 10
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => bureau
                                            [tf] => 10
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => labor
                                            [tf] => 10
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => budget analyst
                                            [tf] => 9
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => financial analyst
                                            [tf] => 9
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => requirement bachelor
                                            [tf] => 8
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 8
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => the certified
                                            [tf] => 8
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => robert half
                                            [tf] => 7
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => 2012 2022
                                            [tf] => 7
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => salary guide
                                            [tf] => 7
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => master degree
                                            [tf] => 6
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => analyst position
                                            [tf] => 6
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => accounting finance
                                            [tf] => 6
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => collapse expand
                                            [tf] => 6
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => bachelor
                                            [tf] => 6
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => collapse expand responsibility
                                            [tf] => 5
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => job stat employment
                                            [tf] => 5
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => stat employment number
                                            [tf] => 5
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => robert half 2015
                                            [tf] => 5
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => half 2015 salary
                                            [tf] => 5
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => 2015 salary guide
                                            [tf] => 5
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => education experience requirement
                                            [tf] => 5
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => additional qualification recommended
                                            [tf] => 5
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => certified management accountant
                                            [tf] => 5
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => average growth
                                            [tf] => 5
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => expand responsibility
                                            [tf] => 5
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => job stat
                                            [tf] => 5
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => stat employment
                                            [tf] => 5
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => employment number
                                            [tf] => 5
                                        )

                                    [63] => stdClass Object
                                        (
                                            [term] => half 2015
                                            [tf] => 5
                                        )

                                    [64] => stdClass Object
                                        (
                                            [term] => 2015 salary
                                            [tf] => 5
                                        )

                                    [65] => stdClass Object
                                        (
                                            [term] => annual salary
                                            [tf] => 5
                                        )

                                    [66] => stdClass Object
                                        (
                                            [term] => projected growth
                                            [tf] => 5
                                        )

                                    [67] => stdClass Object
                                        (
                                            [term] => education experience
                                            [tf] => 5
                                        )

                                    [68] => stdClass Object
                                        (
                                            [term] => experience requirement
                                            [tf] => 5
                                        )

                                    [69] => stdClass Object
                                        (
                                            [term] => related field
                                            [tf] => 5
                                        )

                                    [70] => stdClass Object
                                        (
                                            [term] => additional qualification
                                            [tf] => 5
                                        )

                                    [71] => stdClass Object
                                        (
                                            [term] => qualification recommended
                                            [tf] => 5
                                        )

                                    [72] => stdClass Object
                                        (
                                            [term] => continuing education
                                            [tf] => 5
                                        )

                                    [73] => stdClass Object
                                        (
                                            [term] => certified management
                                            [tf] => 5
                                        )

                                    [74] => stdClass Object
                                        (
                                            [term] => budget analyst position
                                            [tf] => 4
                                        )

                                    [75] => stdClass Object
                                        (
                                            [term] => projected growth the
                                            [tf] => 4
                                        )

                                    [76] => stdClass Object
                                        (
                                            [term] => experience requirement bachelor
                                            [tf] => 4
                                        )

                                    [77] => stdClass Object
                                        (
                                            [term] => bachelor master
                                            [tf] => 4
                                        )

                                    [78] => stdClass Object
                                        (
                                            [term] => related field expected
                                            [tf] => 4
                                        )

                                    [79] => stdClass Object
                                        (
                                            [term] => qualification recommended cpa
                                            [tf] => 4
                                        )

                                    [80] => stdClass Object
                                        (
                                            [term] => certified public accountant
                                            [tf] => 4
                                        )

                                    [81] => stdClass Object
                                        (
                                            [term] => public accountant license
                                            [tf] => 4
                                        )

                                    [82] => stdClass Object
                                        (
                                            [term] => education prior experience
                                            [tf] => 4
                                        )

                                    [83] => stdClass Object
                                        (
                                            [term] => the bureau labor
                                            [tf] => 4
                                        )

                                    [84] => stdClass Object
                                        (
                                            [term] => cma the certified
                                            [tf] => 4
                                        )

                                    [85] => stdClass Object
                                        (
                                            [term] => the certified management
                                            [tf] => 4
                                        )

                                    [86] => stdClass Object
                                        (
                                            [term] => management accountant credential
                                            [tf] => 4
                                        )

                                    [87] => stdClass Object
                                        (
                                            [term] => institute management accountant
                                            [tf] => 4
                                        )

                                    [88] => stdClass Object
                                        (
                                            [term] => work experience exam
                                            [tf] => 4
                                        )

                                    [89] => stdClass Object
                                        (
                                            [term] => experience exam continuing
                                            [tf] => 4
                                        )

                                    [90] => stdClass Object
                                        (
                                            [term] => exam continuing education
                                            [tf] => 4
                                        )

                                    [91] => stdClass Object
                                        (
                                            [term] => risk management
                                            [tf] => 4
                                        )

                                    [92] => stdClass Object
                                        (
                                            [term] => job title
                                            [tf] => 4
                                        )

                                    [93] => stdClass Object
                                        (
                                            [term] => size company
                                            [tf] => 4
                                        )

                                    [94] => stdClass Object
                                        (
                                            [term] => growth the
                                            [tf] => 4
                                        )

                                    [95] => stdClass Object
                                        (
                                            [term] => field expected
                                            [tf] => 4
                                        )

                                    [96] => stdClass Object
                                        (
                                            [term] => experience typical
                                            [tf] => 4
                                        )

                                    [97] => stdClass Object
                                        (
                                            [term] => recommended cpa
                                            [tf] => 4
                                        )

                                    [98] => stdClass Object
                                        (
                                            [term] => certified public
                                            [tf] => 4
                                        )

                                    [99] => stdClass Object
                                        (
                                            [term] => public accountant
                                            [tf] => 4
                                        )

                                    [100] => stdClass Object
                                        (
                                            [term] => accountant license
                                            [tf] => 4
                                        )

                                    [101] => stdClass Object
                                        (
                                            [term] => process include
                                            [tf] => 4
                                        )

                                    [102] => stdClass Object
                                        (
                                            [term] => education prior
                                            [tf] => 4
                                        )

                                    [103] => stdClass Object
                                        (
                                            [term] => prior experience
                                            [tf] => 4
                                        )

                                    [104] => stdClass Object
                                        (
                                            [term] => the bureau
                                            [tf] => 4
                                        )

                                    [105] => stdClass Object
                                        (
                                            [term] => cma the
                                            [tf] => 4
                                        )

                                    [106] => stdClass Object
                                        (
                                            [term] => accountant credential
                                            [tf] => 4
                                        )

                                    [107] => stdClass Object
                                        (
                                            [term] => institute management
                                            [tf] => 4
                                        )

                                    [108] => stdClass Object
                                        (
                                            [term] => work experience
                                            [tf] => 4
                                        )

                                    [109] => stdClass Object
                                        (
                                            [term] => experience exam
                                            [tf] => 4
                                        )

                                    [110] => stdClass Object
                                        (
                                            [term] => exam continuing
                                            [tf] => 4
                                        )

                                    [111] => stdClass Object
                                        (
                                            [term] => accounting manager
                                            [tf] => 4
                                        )

                                    [112] => stdClass Object
                                        (
                                            [term] => salary the robert
                                            [tf] => 3
                                        )

                                    [113] => stdClass Object
                                        (
                                            [term] => the robert half
                                            [tf] => 3
                                        )

                                    [114] => stdClass Object
                                        (
                                            [term] => mid size company
                                            [tf] => 3
                                        )

                                    [115] => stdClass Object
                                        (
                                            [term] => higher larger company
                                            [tf] => 3
                                        )

                                    [116] => stdClass Object
                                        (
                                            [term] => position additional qualification
                                            [tf] => 3
                                        )

                                    [117] => stdClass Object
                                        (
                                            [term] => recommended cpa the
                                            [tf] => 3
                                        )

                                    [118] => stdClass Object
                                        (
                                            [term] => cpa the certified
                                            [tf] => 3
                                        )

                                    [119] => stdClass Object
                                        (
                                            [term] => the certified public
                                            [tf] => 3
                                        )

                                    [120] => stdClass Object
                                        (
                                            [term] => required education prior
                                            [tf] => 3
                                        )

                                    [121] => stdClass Object
                                        (
                                            [term] => prior experience determined
                                            [tf] => 3
                                        )

                                    [122] => stdClass Object
                                        (
                                            [term] => experience determined state
                                            [tf] => 3
                                        )

                                    [123] => stdClass Object
                                        (
                                            [term] => year related experience
                                            [tf] => 3
                                        )

                                    [124] => stdClass Object
                                        (
                                            [term] => offered institute management
                                            [tf] => 3
                                        )

                                    [125] => stdClass Object
                                        (
                                            [term] => salary guide accounting
                                            [tf] => 3
                                        )

                                    [126] => stdClass Object
                                        (
                                            [term] => guide accounting finance
                                            [tf] => 3
                                        )

                                    [127] => stdClass Object
                                        (
                                            [term] => accountant credential earned
                                            [tf] => 3
                                        )

                                    [128] => stdClass Object
                                        (
                                            [term] => 2022 december 21
                                            [tf] => 3
                                        )

                                    [129] => stdClass Object
                                        (
                                            [term] => december 21 2021
                                            [tf] => 3
                                        )

                                    [130] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 3
                                        )

                                    [131] => stdClass Object
                                        (
                                            [term] => strategic planning
                                            [tf] => 3
                                        )

                                    [132] => stdClass Object
                                        (
                                            [term] => financial data
                                            [tf] => 3
                                        )

                                    [133] => stdClass Object
                                        (
                                            [term] => data analysi
                                            [tf] => 3
                                        )

                                    [134] => stdClass Object
                                        (
                                            [term] => nonprofit organization
                                            [tf] => 3
                                        )

                                    [135] => stdClass Object
                                        (
                                            [term] => salary the
                                            [tf] => 3
                                        )

                                    [136] => stdClass Object
                                        (
                                            [term] => the robert
                                            [tf] => 3
                                        )

                                    [137] => stdClass Object
                                        (
                                            [term] => mid size
                                            [tf] => 3
                                        )

                                    [138] => stdClass Object
                                        (
                                            [term] => year experience
                                            [tf] => 3
                                        )

                                    [139] => stdClass Object
                                        (
                                            [term] => higher larger
                                            [tf] => 3
                                        )

                                    [140] => stdClass Object
                                        (
                                            [term] => larger company
                                            [tf] => 3
                                        )

                                    [141] => stdClass Object
                                        (
                                            [term] => position additional
                                            [tf] => 3
                                        )

                                    [142] => stdClass Object
                                        (
                                            [term] => cpa the
                                            [tf] => 3
                                        )

                                    [143] => stdClass Object
                                        (
                                            [term] => required education
                                            [tf] => 3
                                        )

                                    [144] => stdClass Object
                                        (
                                            [term] => experience determined
                                            [tf] => 3
                                        )

                                    [145] => stdClass Object
                                        (
                                            [term] => determined state
                                            [tf] => 3
                                        )

                                    [146] => stdClass Object
                                        (
                                            [term] => financial manager
                                            [tf] => 3
                                        )

                                    [147] => stdClass Object
                                        (
                                            [term] => year related
                                            [tf] => 3
                                        )

                                    [148] => stdClass Object
                                        (
                                            [term] => related experience
                                            [tf] => 3
                                        )

                                    [149] => stdClass Object
                                        (
                                            [term] => offered institute
                                            [tf] => 3
                                        )

                                    [150] => stdClass Object
                                        (
                                            [term] => guide accounting
                                            [tf] => 3
                                        )

                                    [151] => stdClass Object
                                        (
                                            [term] => credential earned
                                            [tf] => 3
                                        )

                                    [152] => stdClass Object
                                        (
                                            [term] => online accounting
                                            [tf] => 3
                                        )

                                    [153] => stdClass Object
                                        (
                                            [term] => 2022 december
                                            [tf] => 3
                                        )

                                    [154] => stdClass Object
                                        (
                                            [term] => december 21
                                            [tf] => 3
                                        )

                                    [155] => stdClass Object
                                        (
                                            [term] => 21 2021
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 42
                            [rank] => 1114338
                        )

                    [5] => stdClass Object
                        (
                            [position] => 6
                            [title] => 
                            [url] => https://www.imanet.org/
                            [destination] => https://www.imanet.org
                            [isAmp] => 
                            [sitelinks] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [title] => Management Accounting Careers | IMA - The association of
                                            [url] => https://www.imanet.org/students/management-accounting-careers
                                            [destination] => 
                                            [description] => Accounting Managers typically report to the Controller and are responsible for all aspects of general ledger accounting and the monthly financial close.
                                            [isAmp] => 
                                        )

                                )

                            [organic_position] => 5
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Home | IMA - The association of accountants and financial ...
                            [serp_description] => IMA® (Institute of Management Accountants) is the worldwide association of accountants and financial professionals in business. We support the careers and ...
                            [hostname] => imanet.org
                            [h1] => 
                            [h2] => Array
                                (
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                )

                            [wordCount] => 0
                            [imgCount] => 0
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 0
                                    [outboundSize] => 0
                                    [list] => Array
                                        (
                                        )

                                )

                            [toc] => Array
                                (
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => 
                            [page_rank_decimal] => 48
                            [rank] => 64312
                        )

                    [6] => stdClass Object
                        (
                            [position] => 7
                            [title] => Managerial Accounting - Definition and Techniques Used
                            [url] => https://corporatefinanceinstitute.com/resources/knowledge/accounting/managerial-accounting/
                            [destination] => https://corporatefinanceinstitute.com › Resources
                            [description] => Managerial accounting (also known as cost accounting or management accounting) is a branch of accounting that is concerned with the
                            [isAmp] => 
                            [organic_position] => 6
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Managerial Accounting - Definition and Techniques Used
                            [serp_description] => Managerial accounting (also known as cost accounting or management accounting) is a branch of accounting that is concerned with the identification, ...
                            [hostname] => corporatefinanceinstitute.com
                            [canonical] => https://corporatefinanceinstitute.com/resources/knowledge/accounting/managerial-accounting/
                            [h1] => Managerial Accounting
                            [h2] => Array
                                (
                                    [0] => What is Managerial Accounting?
                                )

                            [h3] => Array
                                (
                                    [0] => Techniques in Managerial Accounting
                                    [1] => Related Readings
                                    [2] => Free Accounting Courses
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => What is Managerial Accounting?
                                        )

                                )

                            [modified_time] => stdClass Object
                                (
                                    [lastUpdate] => 
                                    [dateFormatted] => 29o December 2020
                                    [dateISO] => 2020-12-29T09:02:12+00:00
                                )

                            [type] => article
                            [wordCount] => 1166
                            [imgCount] => 15
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 51
                                    [outboundSize] => 2
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://wa.me/?text=https%3A%2F%2Fcorporatefinanceinstitute.com%2Fresources%2Fknowledge%2Faccounting%2Fmanagerial-accounting%2F&summary=Managerial+Accounting
                                                    [hrefDomain] => wa.me
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => variances
                                                    [href] => https://www.accountingtools.com/summary-variances/
                                                    [hrefDomain] => accountingtools.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What is Managerial Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Techniques in Managerial Accounting. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                    [0] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 1. Margin analysis. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [1] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 2. Constraint analysis. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [2] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 3. Capital budgeting. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [3] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 4. Inventory valuation and product costing. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [4] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 5. Trend analysis and forecasting. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Related Readings. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] =>  Free Accounting Courses. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://cdn.corporatefinanceinstitute.com/assets/managerial-accounting-1024x683.jpeg
                                )

                            [schema_type] => Array
                                (
                                    [0] => Article
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Managerial Accounting The identification, measurement, analysis, and interpretation of accounting information for internal decision-making Home › Resources › Knowledge › Accounting › Managerial Accounting What is Managerial Accounting?Managerial accounting (also known as cost accounting or management accounting) is a branch of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information so that it can be used to help managers make informed operational decisions.  Unlike financial accounting, which is primarily concentrated on the coordination and reporting of the company’s financial transactions to outsiders (e.g., investors, lendersTop Banks in the USAAccording to the US Federal Deposit Insurance Corporation, there were 6,799 FDIC-insured commercial banks in the USA as of February 2014. ), managerial accounting is focused on internal reporting to aid decision-making.Managerial accountants need to analyze various events and operational metricsKey Performance Indicators (KPIs)Key Performance Indicators (KPIs) are metrics used to periodically track and evaluate the performance of an organization toward the achievement of specific goals. They are also used to gauge the overall performance of a company in order to translate data into useful information that can be leveraged by the company’s management in their decision-making process. They aim to provide detailed information regarding the company’s operations by analyzing each individual line of products, operating activity, facility, etc. Techniques in Managerial Accounting. In order to achieve its goals, managerial accounting relies on a variety of different techniques, including the following: 1. Margin analysis. Margin analysis is primarily concerned with the incremental benefits of optimizing production. Margin analysis is one of the most fundamental and essential techniques in managerial accounting. It includes the calculation of the breakeven pointBreak-even Point (BEP)Break-even point (BEP) is a term in accounting that refers to the situation where a company's revenues and expenses were equal within a specific accounting period. It means that there were no net profits or no net losses for the company - it "broke even". BEP may also refer to the revenues that are needed to be reached in order to compensate for the expenses incurred that determines the optimal sales mix for the company’s products. 2. Constraint analysis. The analysis of the production lines of a business identifies principal bottlenecks, the inefficiencies created by these bottlenecks, and their impact on the company’s ability to generate revenues and profits. 3. Capital budgeting. Capital budgeting is concerned with the analysis of information required to make the necessary decisions related to capital expenditures. In capital budgeting analysis, managerial accountants calculate the net present value (NPV)Net Present Value (NPV)Net Present Value (NPV) is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present. and the internal rate of return (IRR)Internal Rate of Return (IRR)The Internal Rate of Return (IRR) is the discount rate that makes the net present value (NPV) of a project zero. In other words, it is the expected compound annual rate of return that will be earned on a project or investment. to help managers to decide on new capital budgeting decisions. 4. Inventory valuation and product costing. Inventory valuation involves the identification and analysis of the actual costs associated with the company’s products and inventory. The process generally implies the calculation and allocation of overhead charges, as well as the assessment of the direct costs related to the cost of goods sold (COGS)Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) measures the “direct cost” incurred in the production of any goods or services. It includes material cost, direct. 5. Trend analysis and forecasting. Trend analysis and forecasting are primarily concerned with the identification of patterns and trends of product costs, as well as with recognition of unusual variances from the forecasted values and the reasons for such variances. Related Readings. Thank you for reading CFI’s guide to managerial accounting. CFI is the official provider of the global Financial Modeling & Valuation Analyst (FMVA)Become a Certified Financial Modeling & Valuation Analyst (FMVA)®CFI's Financial Modeling and Valuation Analyst (FMVA)® certification will help you gain the confidence you need in your finance career. Enroll today!®Become a Certified Financial Modeling & Valuation Analyst (FMVA)®CFI's Financial Modeling and Valuation Analyst (FMVA)® certification will help you gain the confidence you need in your finance career. Enroll today! certification program, designed to help anyone become a world-class financial analyst. To keep advancing your career, the additional CFI resources below will be useful:Accounting CycleAccounting CycleThe accounting cycle is the holistic process of recording and processing all financial transactions of a company, from when the transactionCapital ExpendituresCapital ExpendituresCapital expenditures refer to funds that are used by a company for the purchase, improvement, or maintenance of long-term assets to improveInventory ValuationInventory ValuationInventory valuation refers to the practice of accounting for the value of a business' inventory. Business inventories refer to all theThree Financial StatementsThree Financial StatementsThe three financial statements are the income statement, the balance sheet, and the statement of cash flows. These three core statements are Free Accounting Courses. Learn accounting fundamentals and how to read financial statements with CFI’s free online accounting classes. These courses will give the confidence you need to perform world-class financial analyst work. Start now!  Building confidence in your accounting skills is easy with CFI courses! Enroll now for FREE to start advancing your career! Corporate Finance Institute Back to Website 0 search results for ‘’ People also search for: excel Free free courses Balance sheet accounting IRR DCF Explore Our Certifications Financial Modeling & Valuation Analyst (FMVA)®Learn more Commercial Banking & Credit Analyst (CBCA)™Learn more Capital Markets & Securities Analyst (CMSA)®Learn more Certified Business Intelligence & Data Analyst (BIDA)™Learn more Resources Excel Shortcuts PC Mac List of Excel Shortcuts Excel shortcuts - It may seem slower at first if you're used to the mouse, but it's worth the investment to take the time and... Free Financial Modeling Guide A Complete Guide to Financial Modeling This resource is designed to be the best free guide to financial modeling!  We will break down the most important... SQL Data Types What are SQL Data Types? The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information... Structured Query Language (SQL) What is Structured Query Language (SQL)? Structured Query Language (SQL) is a specialized programming language designed for interacting with a database.... See All Resources See All Popular Courses Free! FMVA® - Prep Courses 3.5h Excel Crash Course - Spreadsheet Formulas for Finance FMVA® - Required 5.5h Building a 3 Statement Financial Model FMVA® - Required 7.5h Business Valuation Modeling Part I FMVA® - Required 2.5h Scenario & Sensitivity Analysis in Excel FMVA® - Required 6h Dashboards & Data Visualization FMVA® - Electives 11h Leveraged Buyout LBO Modeling See All Courses See All Recent Searches Suggestions Free Courses Excel Courses Financial Modeling & Valuation Analyst (FMVA)® Test Your Skills Create an account to take the assessment.
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 24
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 21
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 17
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 13
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => modeling
                                            [tf] => 12
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => analyst
                                            [tf] => 12
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => fmva
                                            [tf] => 12
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => valuation
                                            [tf] => 11
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => financial modeling
                                            [tf] => 10
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => free
                                            [tf] => 10
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 9
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => cfi
                                            [tf] => 9
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 9
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => cours
                                            [tf] => 9
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => financial modeling valuation
                                            [tf] => 7
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => modeling valuation analyst
                                            [tf] => 7
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 7
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => modeling valuation
                                            [tf] => 7
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => valuation analyst
                                            [tf] => 7
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 7
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => capital
                                            [tf] => 7
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => statement
                                            [tf] => 7
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 7
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => excel
                                            [tf] => 7
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => valuation analyst fmva
                                            [tf] => 6
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => analyst fmva
                                            [tf] => 6
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => inventory
                                            [tf] => 6
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 6
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => data
                                            [tf] => 6
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => sql
                                            [tf] => 6
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => capital budgeting
                                            [tf] => 5
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => resource
                                            [tf] => 5
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => refer
                                            [tf] => 5
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 5
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => required
                                            [tf] => 5
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => present
                                            [tf] => 5
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => rate
                                            [tf] => 5
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => learn
                                            [tf] => 5
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => language
                                            [tf] => 5
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => structured query language
                                            [tf] => 4
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => query language sql
                                            [tf] => 4
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => margin analysi
                                            [tf] => 4
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => rate return
                                            [tf] => 4
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => structured query
                                            [tf] => 4
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => query language
                                            [tf] => 4
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => language sql
                                            [tf] => 4
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => fmva required
                                            [tf] => 4
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => good sold
                                            [tf] => 3
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => excel shortcut
                                            [tf] => 3
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => data type
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 49
                            [rank] => 44768
                        )

                    [7] => stdClass Object
                        (
                            [position] => 8
                            [title] => 6 Reasons Why Management Accounting Is Important for Decision Making
                            [url] => http://www.dominionsystems.com/blog/6-reasons-why-management-accounting-is-important-for-decision-making
                            [destination] => http://www.dominionsystems.com › blog › 6-reasons-w...
                            [description] => Management accounting is important because they conduct a relevant cost analysis, determine existing expenses and give suggestions for future activities
                            [isAmp] => 
                            [organic_position] => 7
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => 6 Reasons Why Management Accounting Is Important for ...
                            [serp_description] => By definition, their job is to prepare internal financial reports, records, and accounts to aid managers' decision-making process in achieving short and long- ...
                            [hostname] => dominionsystems.com
                            [canonical] => http://www.dominionsystems.com/blog/6-reasons-why-management-accounting-is-important-for-decision-making
                            [h1] => 6 Reasons Why Management Accounting Is Important for Decision Making
                            [h2] => Array
                                (
                                    [0] => 1. Relevant Costs Analysis
                                    [1] => 2. Audience Targeting
                                    [2] => 3. Make or Buy Evaluations
                                    [3] => 4. Define Budgets
                                    [4] => 5. Controlling
                                    [5] => 6. Planning
                                    [6] => Concluding Thoughts
                                    [7] => Interested in learning how Dominion Systems can help your company?
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => 1. Relevant Costs Analysis
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => 2. Audience Targeting
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => 3. Make or Buy Evaluations
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => 4. Define Budgets
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => 5. Controlling
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => 6. Planning
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => Concluding Thoughts
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Interested in learning how Dominion Systems can help your company?
                                        )

                                )

                            [type] => article
                            [wordCount] => 854
                            [imgCount] => 13
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 26
                                    [outboundSize] => 4
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://cta-redirect.hubspot.com/cta/redirect/4938022/03044e88-10fe-4121-bf2e-237432560ef4
                                                    [hrefDomain] => hubspot.com
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => decision-making process
                                                    [href] => https://www.myaccountingcourse.com/accounting-dictionary/management-accounting
                                                    [hrefDomain] => myaccountingcourse.com
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => accounting help online
                                                    [href] => https://assignmentmasters.org/accounting-homework.html
                                                    [hrefDomain] => assignmentmasters.org
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://cta-redirect.hubspot.com/cta/redirect/4938022/e819755d-2024-459c-b4d6-a6644b259534
                                                    [hrefDomain] => hubspot.com
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 1. Relevant Costs Analysis. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 2. Audience Targeting. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 3. Make or Buy Evaluations. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 4. Define Budgets. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 5. Controlling. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 6. Planning. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Concluding Thoughts. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Interested in learning how Dominion Systems can help your company?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.dominionsystems.com/hubfs/Imported_Blog_Media/Management+Accounting.jpg#keepProtocol
                                    [twitterImage] => https://www.dominionsystems.com/hubfs/Imported_Blog_Media/Management+Accounting.jpg#keepProtocol
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => 6 Reasons Why Management Accounting Is Important for Decision Making hr management 4 min read This article was written by Joseph McLean A management accounting department is one of the company’s essential units, but most entrepreneurs don’t realize it due to its “under the radar” style of work. Management accountants are insiders who create internal analyses to guide the overall business strategy. By definition, their job is to prepare internal financial reports, records, and accounts to aid managers’ decision-making process in achieving short and long-term business goals. In other words, their job is to simplify complex financial data and turn them into actionable insights. The definition itself is pretty much self-explanatory, but there is a lot more hiding behind this field of work. Our post will show you six reasons that make management accounting so important in decision-making. Let’s take a look! 1. Relevant Costs Analysis. The most important job of the management accountant is to conduct a relevant cost analysis to determine the existing expenses and give suggestions for future activities. One question stands out here: How should I spend my budget? Before a company takes any action, it needs to explore all possibilities and figure out the best tactic to increase the profit. This means management accountants ought to analyze different sales channels, products, services, and marketing activities in order to find the most profitable business model. Once the management accounting team is done with relevant cost analysis, you can make better and evidence-based decisions. 2. Audience Targeting. Marketers must pay special attention to their consumers. They represent an anchor of the business, so each company has to create a buyer persona with all of the corresponding features such as: Age and gender Location Income level Academic background Lifestyle Personal values But even if you define the average customer, there is still some work to do. According to specialists at the accounting help online, management accountants should analyze the value of every customer group to detect the most lucrative units: “With this special type of audience targeting, you can invest additional time and resources in markets that can bring you more profit in the long-term perspective.” 3. Make or Buy Evaluations. Product production is often the most expensive segment of the business, so it’s crucial to be sure which option suits the needs of your company. Generally, there are two solutions – make products on your own or buy them from a third-party provider. In this case, management accountants are those who should cut the knot and tell you what to do. They can evaluate the real cost of each solution and determine whether it’s more appropriate to produce items internally or buy them from the manufacturer. This may seem like a simple decision, but it’s extremely sensitive and has the power to make or break your business.   4. Define Budgets. Nothing is random when it comes to budgeting. On the contrary, budget-related decisions must comply with your sales history and marketing database. This is where management accountants step in to analyze former activities and define investments for future actions. They create financial plans for each department, project, marketing campaign, new product, or any other undertaking. 5. Controlling. Controlling is another important aspect of management accounting. Namely, it evaluates the work of all company units and makes conclusions related to the financial performance. That way, you get to learn the reasons for both the loss and the profit generated by your departments. In such circumstances, it is much easier for senior executives to reduce operational costs. For instance, they can cut salaries in underperforming departments or reduce the number of employees. On the other hand, they can also invest in branches that prove to be highly profitable, thus increasing the total profitability of the business. 6. Planning. The last benefit of management accounting comes from its potential to detect financial patterns and predict future developments. It enables you to stay up to date with the latest industry trends, which means you can react in a timely manner and implement strategies that allow you to stay head and shoulders above competitors. With the planning power of management accounting, you can also create long-term business policies. Doing so, you make sure that the whole team stays on the same track and works uniformly towards achieving your business objectives. Concluding Thoughts. Data precision and accuracy are critical to the success of each company. Without meaningful and actionable insights, you can hardly evaluate the current state of affairs or plan future business moves. In such circumstances, management accounting becomes an anchor of modern business. This article showed you six reasons that make management accounting very important in decision-making. Did you already use the services of management accountants? Did it help you improve internal planning? Send us an email as we'd love to know! Interested in learning how Dominion Systems can help your company?
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 18
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 13
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 10
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 9
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 8
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 8
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 7
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 7
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => decision making
                                            [tf] => 5
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => buy
                                            [tf] => 5
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => reason
                                            [tf] => 5
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => making
                                            [tf] => 5
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => important
                                            [tf] => 5
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => work
                                            [tf] => 5
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 5
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 5
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => reason management
                                            [tf] => 4
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => relevant cost
                                            [tf] => 4
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => relevant
                                            [tf] => 4
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => define
                                            [tf] => 4
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => planning
                                            [tf] => 4
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => department
                                            [tf] => 4
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => create
                                            [tf] => 4
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => future
                                            [tf] => 4
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 4
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => reason management accounting
                                            [tf] => 3
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => management accounting important
                                            [tf] => 3
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => accounting important decision
                                            [tf] => 3
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => important decision making
                                            [tf] => 3
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => relevant cost analysi
                                            [tf] => 3
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => accounting important
                                            [tf] => 3
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => important decision
                                            [tf] => 3
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => long term
                                            [tf] => 3
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => cost analysi
                                            [tf] => 3
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => long
                                            [tf] => 3
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => term
                                            [tf] => 3
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 3
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => activity
                                            [tf] => 3
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => budget
                                            [tf] => 3
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => profit
                                            [tf] => 3
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => analyze
                                            [tf] => 3
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => marketing
                                            [tf] => 3
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => evaluate
                                            [tf] => 3
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => stay
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 37
                            [rank] => 3644493
                        )

                    [8] => stdClass Object
                        (
                            [position] => 9
                            [title] => Best Sellers in Managerial Accounting - Amazon.com
                            [url] => https://www.amazon.com/Best-Sellers-Books-Managerial-Accounting/zgbs/books/7742998011
                            [destination] => https://www.amazon.com › zgbs › books
                            [description] => Discover the best Managerial Accounting in Best Sellers. Find the top 100 most popular items in Amazon Books Best Sellers.
                            [isAmp] => 
                            [organic_position] => 8
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Best Sellers in Managerial Accounting - Amazon.com
                            [serp_description] => Discover the best Managerial Accounting in Best Sellers. Find the top 100 most popular items in Amazon Books Best Sellers.
                        )

                    [9] => stdClass Object
                        (
                            [position] => 10
                            [title] => What is Management Accounting?
                            [url] => https://www.snhu.edu/about-us/newsroom/business/management-accounting
                            [destination] => https://www.snhu.edu › about-us › newsroom › business
                            [description] => Management accounting provides financial information for the organization’s internal management, its employees, managers and executives
                            [isAmp] => 
                            [date] => May 23, 2018
                            [organic_position] => 9
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => What is Management Accounting? - SNHU
                            [serp_description] => Management accounting provides financial information for the organization's internal management, its employees, managers and executives, ...
                            [hostname] => snhu.edu
                            [h1] => What is Management Accounting?
                            [h2] => Array
                                (
                                    [0] => Apply Now
                                    [1] => Online Students
                                    [2] => International Students
                                    [3] => Campus Students
                                    [4] => What is Management Accounting?
                                    [5] => Work For a Variety of Organizations
                                    [6] => Make the Most of Growing Job Opportunities
                                    [7] => Enjoy the Financial Benefits
                                    [8] => Ready to Pursue Your Master's in Management Accounting?
                                    [9] => Explore more content like this article
                                    [10] => How to Become a Forensic Accountant
                                    [11] => What Do the Best MBA Programs Teach?
                                    [12] => What Can I Do with an Accounting Degree Besides Accounting?
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Apply Now
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Online Students
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => International Students
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => Campus Students
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => What is Management Accounting?
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Work For a Variety of Organizations
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => Make the Most of Growing Job Opportunities
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Enjoy the Financial Benefits
                                        )

                                    [8] => stdClass Object
                                        (
                                            [text] => Ready to Pursue Your Master's in Management Accounting?
                                        )

                                    [9] => stdClass Object
                                        (
                                            [text] => Explore more content like this article
                                        )

                                    [10] => stdClass Object
                                        (
                                            [text] => How to Become a Forensic Accountant
                                        )

                                    [11] => stdClass Object
                                        (
                                            [text] => What Do the Best MBA Programs Teach?
                                        )

                                    [12] => stdClass Object
                                        (
                                            [text] => What Can I Do with an Accounting Degree Besides Accounting?
                                        )

                                )

                            [type] => website
                            [wordCount] => 1168
                            [imgCount] => 6
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 11
                                    [outboundSize] => 4
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => U.S. Bureau of Labor Statistics
                                                    [href] => https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
                                                    [hrefDomain] => bls.gov
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Institute of Management Accountants
                                                    [href] => https://www.imanet.org/cma-certification?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => @Suze1776
                                                    [href] => https://twitter.com/suze1776
                                                    [hrefDomain] => twitter.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => LinkedIn
                                                    [href] => https://www.linkedin.com/in/susan-bogle-896b7412/
                                                    [hrefDomain] => linkedin.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 
											Apply Now
											. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Online Students. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => International Students. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Campus Students. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What is Management Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Work For a Variety of Organizations. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Make the Most of Growing Job Opportunities. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Enjoy the Financial Benefits. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [8] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Ready to Pursue Your Master's in Management Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [9] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Explore more content like this article. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [10] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 			How to Become a Forensic Accountant
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [11] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 			What Do the Best MBA Programs Teach?
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [12] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 			What Can I Do with an Accounting Degree Besides Accounting?
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.snhu.edu/-/media/images/logos/logo-abbr.ashx
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => What is Management Accounting? Susan Bogle May 23, 2018 Explore Programs Accounting, the measuring, processing, and communicating of financial information, remains a crucial part of any successful business venture in fields ranging from education to healthcare and technology to hospitality and more. Most financial accounting is prepared for people outside of an organization, such as the public, investors, creditors, government agencies, regulatory bodies and other stakeholders. What is Management Accounting? Management accounting provides financial information for the organization's internal management, its employees, managers and executives, in order to inform decision-making and improve performance. In other words, management accountants are strategic partners. They work to ensure future success by identifying ways to create value for their organization and its products or services. They do so by using numbers, data and research to help leadership make informed decisions to minimize risk and maximize profit in behalf of the business. Management accountants analyze and explain the "why" behind reporting the numbers. Management accounting differs from financial accounting because it focuses on ways to inform internal decision makers. Financial accounts record information and prepare reports for external government agencies and other stakeholders and are less focused on making future projections. Work For a Variety of Organizations. Management accounting skills include functions of controllership, governmental and nonprofit accounting, international accounting, accounting in decision-making and analysis and business law and ethics. These skills prepare you to work and advance in any of the following sectors: Private Corporations - From mom-and-pop shops to multinational corporations, businesses and industries of all sizes need strategic partners capable of marrying financial know-how with business savvy. These individuals hold positions up and down the corporate ladder, including auditors, tax managers, controllers and chief financial officers. Government - Management accountants play a key role in improving the efficiency federal, state and local governments and agencies. Their ability to evaluate performance, finances and compliance can help streamline the use and distribution of resources. Nonprofits - Not-for-profit organizations face special financial situations, including strict budgets, special tax designations and the need to fundraise. As a result, nonprofits can especially benefit from the knowledge, expertise and skills of an accounting professional with broader business or management competencies. Education - If you've considered a career or job in accounting education, a master's degree is generally the minimum requirement for teaching at the high school or college and university level. A graduate degree in accounting can also be your foot in the door for administrative roles in education. Once you have a job, the managerial theory and best practices you learned as part of your management accounting degree can help you achieve better results, allowing you to become an invaluable member of your organization. Make the Most of Growing Job Opportunities. Stricter laws and regulations (notably in the financial sector) are expected to increase the demand for accounting services as organizations work to comply with applicable governing rules. Whether you're a new or seasoned accounting professional, a master's in management accounting can help you make the most of the growing employment opportunities in the field. Most employers require candidates for accountant or auditor positions to have a bachelor's degree in accounting or a related field. However, job candidates with professional designations, such as Certified Public Accountant (CPA) or Certified Management Accountant (CMA), have the best career prospects, according to the U.S. Bureau of Labor Statistics (BLS), while those with a master's degree in accounting may also have an advantage. A master's in management accounting can equip you with the academic qualifications to become a CMA, a unique advantage among most online accounting programs. The CMA professional certification can give you a competitive edge by demonstrating your mastery of the critical accounting and financial management skills needed in today's global business landscape. These skills include financial planning, analysis and professional ethics. With the rising demand for accounting professionals, special credentials such as a master's in management accounting and CMA certification can help your resume stand out to supervisors and hiring managers. Enjoy the Financial Benefits. If studying or working in the accounting field appeals to you, then you probably know about the importance of a good return on investment. The Institute of Management Accountants (IMA) reports that CMA- or CPA-certified professionals earn 47% more than their non-certified peers. Having a graduate degree can translate into a salary bump or give you leverage in the salary negotiating process by demonstrating your expert knowledge. Ready to Pursue Your Master's in Management Accounting? Although financial accounting can be a springboard to management accounting, another way to advance your career in this field is through education. If you have some business acumen coupled with a head for numbers, a master's in management accounting is a great option for expanding your career potential. An advanced degree builds your expertise, strengthens and expands your leadership skills and lets you realize your personal and professional goals. With the right combination of credentials and experience, you'll be in a position to contribute positively to the strategic, tactical and operating decisions of your organization whether you work in the for-profit, nonprofit, or government sectors. In addition to mastering the latest accounting strategies, tactics and rules, graduates from a master's in accounting with a concentration in management accounting program develop and apply accounting practices based on broader business competencies in order to drive their organizations forward. An advanced degree in management accounting allows you to begin or accelerate your path to higher-level accounting roles within your industry. A master's in accounting with a concentration in management accounting prepares you to pursue advanced positions within many kinds of organizations. This is true whether you're working for a company, the government or a nonprofit, locally, nationally or internationally. Susan Bogle is a marketing and student recruitment specialist in higher education. Follow her on Twitter @Suze1776  or connect on LinkedIn. Explore more content like this article. How to Become a Forensic Accountant . January 07, 2022 Forensic accounting is a fascinating branch of the profession. Its primary focus is collecting and leveraging data for litigation: "forensic" literally means "suitable for use in a court of law." What Do the Best MBA Programs Teach? . January 07, 2022 If you’re hoping your MBA will help you advance your business career, you’ll want to search for a program that combines theory and practical experience, offering you the business acumen and know-how needed to stand out among your colleagues and other job candidates. What Can I Do with an Accounting Degree Besides Accounting? . January 05, 2022 Thinking about earning a degree in accounting? Your learning could prepare you for more jobs than you'd think. There are many alternative careers for accountants across the finance and business world.  
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 43
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 23
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 16
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 15
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 14
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 10
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => degree
                                            [tf] => 10
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 9
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => master
                                            [tf] => 9
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => professional
                                            [tf] => 8
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => work
                                            [tf] => 6
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => education
                                            [tf] => 6
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => government
                                            [tf] => 6
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => skill
                                            [tf] => 6
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => career
                                            [tf] => 6
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => job
                                            [tf] => 6
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => master management accounting
                                            [tf] => 5
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 5
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => degree accounting
                                            [tf] => 5
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => master management
                                            [tf] => 5
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => certified
                                            [tf] => 5
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => program
                                            [tf] => 5
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => field
                                            [tf] => 5
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 5
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => nonprofit
                                            [tf] => 5
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => cma
                                            [tf] => 5
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => prepare
                                            [tf] => 4
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => position
                                            [tf] => 4
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 3
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => government agency
                                            [tf] => 3
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => accounting financial
                                            [tf] => 3
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => accounting professional
                                            [tf] => 3
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => special
                                            [tf] => 3
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => graduate
                                            [tf] => 3
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => candidate
                                            [tf] => 3
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => advanced
                                            [tf] => 3
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => forensic
                                            [tf] => 3
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => january
                                            [tf] => 3
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => 2022
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 49
                            [rank] => 44727
                        )

                    [10] => stdClass Object
                        (
                            [position] => 11
                            [title] => Management Accounting | edX
                            [url] => https://www.edx.org/course/management-accounting
                            [destination] => https://www.edx.org › course › management-accounting
                            [description] => Learn management accounting techniques to support businesses to plan, control, monitor and enhance performance with this ACCA-X course
                            [isAmp] => 
                            [extra] => Oct 19, 2015 · Uploaded by edX
                            [sitelinks] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [title] => Learn Management Accounting with Online Courses ... - edX
                                            [url] => https://www.edx.org/learn/management-accounting
                                            [destination] => 
                                            [description] => Management accountants are responsible for the financial statements and cost accounting directly involved in higher-level decision making.
                                            [isAmp] => 
                                        )

                                )

                            [organic_position] => 10
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accounting | edX
                            [serp_description] => An understanding of Management Accounting is essential to build a picture of the importance it has for planning and control of an organisation. This course will ...
                            [hostname] => edx.org
                            [canonical] => https://www.edx.org/course/management-accounting
                            [h1] => Management Accounting
                            [h2] => Array
                                (
                                    [0] => Interested in this course for your business or team?
                                )

                            [h3] => Array
                                (
                                    [0] => There is one session available:
                                    [1] => At a glance
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Interested in this course for your business or team?
                                        )

                                )

                            [type] => website
                            [wordCount] => 488
                            [imgCount] => 4
                            [lang] => stdClass Object
                                (
                                    [langLinks] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [lang] => es
                                                    [url] => https://www.edx.org/es/course/management-accounting
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [lang] => en
                                                    [url] => https://www.edx.org/course/management-accounting
                                                )

                                        )

                                    [size] => 2
                                    [string] => es / en
                                )

                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 16
                                    [outboundSize] => 1
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => ACCA
                                                    [href] => http://www.accaglobal.com/gb/en.html
                                                    [hrefDomain] => accaglobal.com
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 3
                                            [name] => There is one session available:. 
                                            [tag] => h3
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 5
                                                            [name] => Management Accounting
                                                            [tag] => h5
                                                            [children] => Array
                                                                (
                                                                    [0] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => Enroll now. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => At a glance. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Interested in this course for your business or team?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://prod-discovery.edx-cdn.org/media/course/image/835abbce-5045-4237-8250-0a14c42b5b4f-791488a413b5.small.jpg
                                    [twitterImage] => https://prod-discovery.edx-cdn.org/media/course/image/835abbce-5045-4237-8250-0a14c42b5b4f-791488a413b5.small.jpg
                                )

                            [schema_type] => Array
                                (
                                    [0] => Organization
                                    [1] => Course
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management AccountingLearn management accounting techniques to support businesses to plan, control, monitor and enhance performance with this ACCA-X course.Watch the videoPlay Video for Management AccountingPlay Video for Management AccountingThere is one session available:. After a course session ends, it will be archivedOpens in a new tab.Starts Jan 12Ends Aug 26EnrollI would like to receive email from ACCA and learn about other offerings related to Management Accounting.Estimated 12 weeks5–8 hours per weekSelf-pacedProgress at your own speedCost to Enroll$89 USDManagement AccountingAboutEnroll now. Starts Jan 12About this courseSkip About this courseEver wondered how management use internal financial information to plan and inform decision making? Start learning about Management Accounting today and discover the wealth of techniques that are used by managers to inform their decisions. An understanding of Management Accounting is essential to build a picture of the importance it has for planning and control of an organisation. This course will enable you to learn about the various sources of management information as well as develop an understanding of making financing and investment decisions. This course is especially beneficial if you want to: Equip yourself with the knowledge to undertake a role working as a junior within a management accounting department Launch your own business and need an understanding of using internal financial information Prepare for the ACCA’s exam in Management Accounting (MA) There is no prior knowledge required. Start learning today and accelerate your business and finance acumen. This course does not offer an edX certificate. Those learners who would like to earn an award will have the opportunity to register with ACCA as a student, take computer based exams and gain the ACCA Diploma in Accounting and Business. You can find your nearest ACCA exam centre on the ACCA website.Show moreAt a glance. Institution: ACCASubject: Business & ManagementLevel: IntermediatePrerequisites: This course is suitable for you if you're just starting out in finance, or if you work in finance but do not yet have a professional qualification. If neither of these appy to you, try out our free courses first.Language: EnglishVideo Transcript: EnglishWhat you'll learnSkip What you'll learn The nature, source and purpose of management information Cost accounting techniques Budgets for planning and control Comparisons and analysis of variances Performance measurement and monitoring of business performance Show moreLearner testimonialsSkip Learner testimonials"The course was very interesting. I enjoyed learning from other students through their posts on the discussion board. And the game like approach to some topics made them easy to understand. Also the live presentations were helpful because it offered me interaction with the tutor. Overall it gave me the confidence and the skills to handle any work challenges." - Christopher from ZambiaShow moreAbout the instructorsInterested in this course for your business or team?Train your employees in the most in-demand topics, with edX for Business.Request informationPurchase now
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 12
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => acca
                                            [tf] => 9
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 7
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 7
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 5
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => exam
                                            [tf] => 4
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 4
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => technique
                                            [tf] => 3
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => control
                                            [tf] => 3
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => performance
                                            [tf] => 3
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => learn
                                            [tf] => 3
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => start
                                            [tf] => 3
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 3
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => learning
                                            [tf] => 3
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => understanding
                                            [tf] => 3
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => finance
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 61
                            [rank] => 878
                        )

                    [11] => stdClass Object
                        (
                            [position] => 12
                            [title] => Management Accounting | University of Pittsburgh Greensburg
                            [url] => https://www.greensburg.pitt.edu/academics/majors-minors/management-accounting
                            [destination] => https://www.greensburg.pitt.edu › majors-minors › man...
                            [description] => Management Accounting. Two Management Accounting majors studying. Preparation for Positions in Any Type of Business. The job placement ...
                            [isAmp] => 
                            [organic_position] => 11
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accounting | University of Pittsburgh Greensburg
                            [serp_description] => Management Accounting. Two Management Accounting majors studying. Preparation for Positions in Any Type of Business. The job placement ...
                        )

                    [12] => stdClass Object
                        (
                            [position] => 13
                            [title] => Management accounting news and resources - Journal of Accountancy
                            [url] => https://www.journalofaccountancy.com/topics/management-accounting.html
                            [destination] => https://www.journalofaccountancy.com › topics › mana...
                            [description] => The latest management accounting news and insights from the Journal of Accountancy, the ultimate resource for today’s CPA
                            [isAmp] => 
                            [organic_position] => 12
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management accounting news and resources - Journal
                            [serp_description] => The latest management accounting news and insights from the Journal of Accountancy, the ultimate resource for today's CPA.
                            [hostname] => journalofaccountancy.com
                            [canonical] => https://www.journalofaccountancy.com/topics/management-accounting.html
                            [h1] => Management accounting
                            [h2] => Array
                                (
                                    [0] => Where to find January’s flipbook issue
                                    [1] => Get your clients ready for tax season
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Where to find January’s flipbook issue
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Get your clients ready for tax season
                                        )

                                )

                            [type] => website
                            [wordCount] => 736
                            [imgCount] => 2
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 30
                                    [outboundSize] => 0
                                    [list] => Array
                                        (
                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Where to find January’s flipbook issue. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Get your clients ready for tax season. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.journalofaccountancy.com/content/dam/jofa/info/jofa-default-image.jpg
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management accounting The CPA profession’s ‘really interesting inflection point’ A recent Digital CPA keynote speaker discusses the profession’s “really interesting inflection point” and shares lessons from innovation leaders from around the world. Why a CFO needs to wear two hats A finance leader at Yelp explains “the two hats of the CFO” and some of the ways finance can be more of a value partner for business. How companies are responding to rising pressure on wages and benefits Leaders are employing a range of strategies to keep workers; some save costs elsewhere to invest in employee training and benefits. One-fourth of companies are offering signing bonuses. CPA leader takeaways: Listening, self-awareness, flipping the pyramid Four CPAs reflect on lessons learned from a recent summit and point out areas of focus relevant to the finance function of the future. Inflation and talent: 2 top headwinds facing business in 2022 Hear about a new top challenge facing businesses and one finance executive’s outlook for 2022 and beyond. Finance experts’ outlook softens amid supply chain, labor challenges The CPA Outlook Index dipped slightly but remained in positive territory. ESG offers growth opportunities for 2022 Focus on environmental, social, and governance issues is rising amid investor and regulator interest. Persevering through supply chain disturbances Lumber prices skyrocketed as a result of the pandemic. One homebuilder’s CFO explains how the company navigated those tough and unpredictable waters. SBA clarifies COVID-19 EIDL application deadlines The US SBA provided updated guidance Friday on various COVID-19 Economic Injury Disaster Loan program application deadlines. House passes Build Back Better Act with universal paid leave The US House of Representatives passed a nearly $2 trillion spending bill Friday that includes a number of provisions of note for CPAs. Rethinking real estate: The benefits of workforce segmentation Balancing business goals with employee experience can provide the best path forward as hybrid working becomes commonplace. Companies embrace unusual new strategies to survive a labor crunch With millions of jobs vacant, company leaders are being tested. Here are some ways smaller businesses are coping with multiple openings and trying to recruit new talent. Serving cannabis clients: Understand the risks Practicing due diligence and understanding state and local laws are keys to success for firms that choose to engage with this industry. “What’s our biggest risk?” Why the answer is changing Two CPA risk management experts explain how COVID-19 amplified the risks organizations were already facing and why concern about future business models remains high. Managing noise, change, and emerging risks Rethink your enterprise risk process and apply new tools to get better at managing emerging and disruptive risks. AI in manufacturing: Optimizing costs and enabling the workforce Manufacturing leaders can use artificial intelligence to improve efficiency and drive growth. But taking full advantage of the technology requires upskilling the workforce. 6 ways to make the entire organization care about anti-fraud efforts Recent conference speaker John Hall, CPA, discusses tangible steps to build a “defensive wall” against fraud and ethics breaches. How to use COSO to implement and scale AI projects The COSO enterprise risk management framework can help leaders manage risks associated with their AI strategies. How climate risks are reflected in current financial statements The Center for Audit Quality has published a resource that describes management and auditors’ responsibilities related to climate-related risk reporting. Tips for teaching ESG and sustainability accounting Having ESG knowledge can set graduates apart. Get students excited about this emerging area of accounting. Next PODCAST Most Read Features Where to find January’s flipbook issue. Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues. SPONSORED REPORT Get your clients ready for tax season. Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022. From The Tax Adviser Magazine
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => risk
                                            [tf] => 11
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => cpa
                                            [tf] => 8
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => leader
                                            [tf] => 7
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 6
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => finance
                                            [tf] => 5
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 5
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => cfo
                                            [tf] => 4
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => explain
                                            [tf] => 4
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => way
                                            [tf] => 4
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => outlook
                                            [tf] => 4
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => workforce
                                            [tf] => 4
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 4
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => 2022
                                            [tf] => 4
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => tax
                                            [tf] => 4
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => covid 19
                                            [tf] => 3
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 3
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => point
                                            [tf] => 3
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => recent
                                            [tf] => 3
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => digital
                                            [tf] => 3
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => benefit
                                            [tf] => 3
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => strategy
                                            [tf] => 3
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => facing
                                            [tf] => 3
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => esg
                                            [tf] => 3
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => issue
                                            [tf] => 3
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => covid
                                            [tf] => 3
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => 19
                                            [tf] => 3
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => emerging
                                            [tf] => 3
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => ai
                                            [tf] => 3
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => magazine
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 51
                            [rank] => 22117
                        )

                    [13] => stdClass Object
                        (
                            [position] => 14
                            [title] => Global Management Accounting Principles
                            [url] => https://www.cgma.org/resources/reports/globalmanagementaccountingprinciples.html
                            [destination] => https://www.cgma.org › resources › reports › globalma...
                            [description] => Learn how the Global Management Accounting Principles can support your organisation in benchmarking and improving your management accounting systems
                            [isAmp] => 
                            [organic_position] => 13
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Global Management Accounting Principles
                            [serp_description] => Learn how the Global Management Accounting Principles can support your organisation in benchmarking and improving your management accounting systems.
                            [hostname] => cgma.org
                            [canonical] => https://www.cgma.org/resources/reports/globalmanagementaccountingprinciples.html
                            [h1] => Global Management Accounting Principles
                            [h2] => Array
                                (
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                )

                            [published_time] => stdClass Object
                                (
                                    [lastUpdate] => 
                                    [dateFormatted] => 24o October 2014
                                    [dateISO] => 2014-10-24T01:00:00.000-04:00
                                )

                            [type] => article
                            [wordCount] => 422
                            [imgCount] => 5
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 27
                                    [outboundSize] => 8
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => AICPA
                                                    [href] => https://www.aicpa.org/
                                                    [hrefDomain] => aicpa.org
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => CIMA
                                                    [href] => https://www.cimaglobal.com/
                                                    [hrefDomain] => cimaglobal.com
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => CIMA
                                                    [href] => https://www.cimaglobal.com/
                                                    [hrefDomain] => cimaglobal.com
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => AICPA
                                                    [href] => https://www.aicpa.org/
                                                    [hrefDomain] => aicpa.org
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => AICPA | CIMA Competency and Learning
                                                    [href] => https://competency.aicpa.org/
                                                    [hrefDomain] => aicpa.org
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => CGMA© on Facebook
                                                    [href] => https://www.facebook.com/myCGMA/
                                                    [hrefDomain] => facebook.com
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => CGMA© on Twitter
                                                    [href] => https://twitter.com/cgma
                                                    [hrefDomain] => twitter.com
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => CGMA© on Linkedin
                                                    [href] => https://www.linkedin.com/showcase/cgma-designation/
                                                    [hrefDomain] => linkedin.com
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.cgma.org/content/dam/cgma/resources/reports/publishingimages/gmap-819x400.jpg
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Global Management Accounting Principles Global Management Accounting Principles Quality decision making has never been more important – or more difficult. Innovations and innovators daily disrupt the status quo. The volume and velocity of unstructured data is increasing complexity. The Global Management Accounting Principles© were created for this era of business. They reflect the perspective of CEOs, CFOs, academics, regulators, government bodies and other professionals in 20 countries across five continents. This included a 90-day public consultation in which more than 400 people participated. Public as well as private sector representation has been included so that the Principles have universal applicability. The purpose of the Principles The purpose of the Principles is to improve decision-making in organisations through the provision of high quality management information. They further support you in benchmarking your organisation against best practice. The four principles are:   Learn more about the Principles Read more about each principle: Influence Relevance Analyse Trust View the summary and the full Global Management Accounting Principles framework (available in different languages). Watch this video for a brief introduction and overview of the Global Management Accounting Principles.   Watch additional videos with expert Naomi Smith, FCMA, CGMA as she navigates you through the Global Management Accounting Principles and illustrates through case studies how to use them in practice.      TOPICS Performance management Related Articles Chartered Global Management Accountant CGMA is the most widely held management accounting designation in the world with more than 137,000 designees.  It was established in 2012 by the  AICPA and CIMA to recognise a unique group of management accountants who have reached the highest benchmark of quality and competence. The CGMA designation is built on extensive global research to maintain the highest relevance with employers and develop the competencies most in demand. CGMA designation holders qualify through rigorous education, exam and experience requirements.  About the CGMA Mission Employers Press Academic Partners Contact Us CGMA Affiliates CIMA AICPA AICPA | CIMA Competency and Learning © Association of International Certified Professional Accountants All rights reserved. This website has been developed by the AICPA and CIMA and is subject to license agreements between the AICPA, CIMA and the Association of International Certified Professional Accountants. Privacy Terms & Conditions Sitemap Connect CGMA© on Facebook CGMA© on Twitter CGMA© on Linkedin
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => principle
                                            [tf] => 12
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 11
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => cgma
                                            [tf] => 9
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => aicpa
                                            [tf] => 8
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => cima
                                            [tf] => 8
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => global
                                            [tf] => 8
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => global management
                                            [tf] => 7
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 7
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 7
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => global management accounting
                                            [tf] => 6
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => management accounting principle
                                            [tf] => 6
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => accounting principle
                                            [tf] => 6
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => aicpa cima
                                            [tf] => 4
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 4
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => quality
                                            [tf] => 3
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => professional
                                            [tf] => 3
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => designation
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 47
                            [rank] => 156388
                        )

                    [14] => stdClass Object
                        (
                            [position] => 15
                            [title] => Management Accountant Salary and Job Description | Certified Management Accounting Courses and Certification Requirements | CPA 2021 Requirements by State | CPA Exam and Accountant Education
                            [url] => https://www.accountingedu.org/management/
                            [destination] => https://www.accountingedu.org › management
                            [description] => Management accounting involves collecting, analyzing, and presenting financial information used to help company management make sound business decisions. This
                            [isAmp] => 
                            [date] => Nov 5, 2021
                            [organic_position] => 14
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accountant Salary and Job Description
                            [serp_description] => Management accounting involves collecting, analyzing, and presenting financial information used to help company management make sound ...
                            [hostname] => accountingedu.org
                            [canonical] => https://www.accountingedu.org/management/
                            [h1] => Management Accounting
                            [h2] => Array
                                (
                                    [0] => How Management Accounting Differs from Other Accounting Practices
                                    [1] => Cost Benefit Analysis
                                    [2] => Sound Judgment, Reasonable Assumptions, and Justifiable Data
                                    [3] => Management Accountant Job Functions
                                    [4] => Management Accounting Certification | Certified Management Accountant
                                    [5] => Educational Requirements
                                    [6] => What It Can Mean to You: Management Accounting Salaries
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => How Management Accounting Differs from Other Accounting Practices
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Cost Benefit Analysis
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Sound Judgment, Reasonable Assumptions, and Justifiable Data
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => Management Accountant Job Functions
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => Management Accounting Certification | Certified Management Accountant
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Educational Requirements
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => What It Can Mean to You: Management Accounting Salaries
                                        )

                                )

                            [type] => article
                            [wordCount] => 2677
                            [imgCount] => 10
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 93
                                    [outboundSize] => 58
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/wEasternOregonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Eastern Oregon University
                                                    [href] => https://aspireclicks.com/wEasternOregonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => Bachelors in Accounting - Forensic Accounting, Bachelor in Accounting, Bachelors in Accounting - Certified Managerial Accounting
                                                    [href] => https://aspireclicks.com/wEasternOregonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/wEasternOregonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/wMethodistAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => Methodist University
                                                    [href] => https://aspireclicks.com/wMethodistAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => Bachelor of Applied Science in Accounting, Bachelor of Science in Accounting
                                                    [href] => https://aspireclicks.com/wMethodistAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/wMethodistAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/PUGAccountingEdu
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [text] => Purdue University Global
                                                    [href] => https://aspireclicks.com/PUGAccountingEdu
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [10] => stdClass Object
                                                (
                                                    [text] => Online Bachelor of Science in Accounting
                                                    [href] => https://aspireclicks.com/PUGAccountingEdu
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [11] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/PUGAccountingEdu
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [12] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [13] => stdClass Object
                                                (
                                                    [text] => SNHU
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [14] => stdClass Object
                                                (
                                                    [text] => Online AS and BS in Accounting with focus of Finance or Forensic Accounting
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [15] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [16] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/ArizonaStateAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [17] => stdClass Object
                                                (
                                                    [text] => Arizona State University
                                                    [href] => https://aspireclicks.com/ArizonaStateAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [18] => stdClass Object
                                                (
                                                    [text] => BS in Accountancy
                                                    [href] => https://aspireclicks.com/ArizonaStateAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [19] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/ArizonaStateAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [20] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/wNorwichAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [21] => stdClass Object
                                                (
                                                    [text] => Norwich University
                                                    [href] => https://aspireclicks.com/wNorwichAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [22] => stdClass Object
                                                (
                                                    [text] => Master of Accounting-Forensic Accounting, Master of Accounting
                                                    [href] => https://aspireclicks.com/wNorwichAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [23] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/wNorwichAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [24] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/wScrantonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [25] => stdClass Object
                                                (
                                                    [text] => The University of Scranton
                                                    [href] => https://aspireclicks.com/wScrantonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [26] => stdClass Object
                                                (
                                                    [text] => Master of Accountancy - Forensic Accounting, Master of Accountancy - Accounting Analytics, MBA - Accounting
                                                    [href] => https://aspireclicks.com/wScrantonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [27] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/wScrantonAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [28] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [29] => stdClass Object
                                                (
                                                    [text] => SNHU
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [30] => stdClass Object
                                                (
                                                    [text] => Online MBA and MS in Accounting with numerous focus options
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [31] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/SNHUAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [32] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/OhioAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [33] => stdClass Object
                                                (
                                                    [text] => Ohio University
                                                    [href] => https://aspireclicks.com/OhioAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [34] => stdClass Object
                                                (
                                                    [text] => Online Master of Accountancy
                                                    [href] => https://aspireclicks.com/OhioAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [35] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/OhioAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [36] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://aspireclicks.com/NorthDakotaAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [37] => stdClass Object
                                                (
                                                    [text] => University of North Dakota
                                                    [href] => https://aspireclicks.com/NorthDakotaAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [38] => stdClass Object
                                                (
                                                    [text] => Master's in Accountancy
                                                    [href] => https://aspireclicks.com/NorthDakotaAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [39] => stdClass Object
                                                (
                                                    [text] => Request Info
                                                    [href] => https://aspireclicks.com/NorthDakotaAccountingEduFSB
                                                    [hrefDomain] => aspireclicks.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [40] => stdClass Object
                                                (
                                                    [text] => Chartered Institute of Management Accountants
                                                    [href] => http://www.cimaglobal.com/
                                                    [hrefDomain] => cimaglobal.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [41] => stdClass Object
                                                (
                                                    [text] => Institute of Management Accountants
                                                    [href] => https://www.imanet.org/?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [42] => stdClass Object
                                                (
                                                    [text] => IMA’s 2021 U.S. Salary Survey
                                                    [href] => https://www.imanet.org/-/media/b60f79f4b1a04f8b8b88ae1760e24231.ashx
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [43] => stdClass Object
                                                (
                                                    [text] => Association of Accounts and Financial Professional in Business 2021 U.S. Salary Survey
                                                    [href] => https://www.imanet.org/-/media/b60f79f4b1a04f8b8b88ae1760e24231.ashx
                                                    [hrefDomain] => imanet.org
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [44] => stdClass Object
                                                (
                                                    [text] => NASBA – National Association of State Boards of Accountancy
                                                    [href] => https://nasba.org
                                                    [hrefDomain] => nasba.org
                                                    [isOutbound] => 1
                                                )

                                            [45] => stdClass Object
                                                (
                                                    [text] => AICPA – American Institute of CPAs
                                                    [href] => https://www.aicpa.org/
                                                    [hrefDomain] => aicpa.org
                                                    [isOutbound] => 1
                                                )

                                            [46] => stdClass Object
                                                (
                                                    [text] => IMA – Association for Accountants and Financial Professionals in Business
                                                    [href] => https://www.imanet.org/
                                                    [hrefDomain] => imanet.org
                                                    [isOutbound] => 1
                                                )

                                            [47] => stdClass Object
                                                (
                                                    [text] => IIA – Institute of Internal Auditors
                                                    [href] => https://na.theiia.org/
                                                    [hrefDomain] => theiia.org
                                                    [isOutbound] => 1
                                                )

                                            [48] => stdClass Object
                                                (
                                                    [text] => AGA – Association of Government Accountants
                                                    [href] => https://www.agacgfm.org/
                                                    [hrefDomain] => agacgfm.org
                                                    [isOutbound] => 1
                                                )

                                            [49] => stdClass Object
                                                (
                                                    [text] => AAA – American Accounting Association
                                                    [href] => https://aaahq.org/about
                                                    [hrefDomain] => aaahq.org
                                                    [isOutbound] => 1
                                                )

                                            [50] => stdClass Object
                                                (
                                                    [text] => CGMA – Chartered Global Management Accountants
                                                    [href] => https://www.cgma.org/content/cgma-home
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [51] => stdClass Object
                                                (
                                                    [text] => CIMA – Chartered Institute of Management Accountants
                                                    [href] => https://www.cimaglobal.com/
                                                    [hrefDomain] => cimaglobal.com
                                                    [isOutbound] => 1
                                                )

                                            [52] => stdClass Object
                                                (
                                                    [text] => CPA – Chartered Professional Accountants of Canada
                                                    [href] => https://www.cpacanada.ca/
                                                    [hrefDomain] => cpacanada.ca
                                                    [isOutbound] => 1
                                                )

                                            [53] => stdClass Object
                                                (
                                                    [text] => FASB – Financial Accounting Standards Board
                                                    [href] => https://www.fasb.org/
                                                    [hrefDomain] => fasb.org
                                                    [isOutbound] => 1
                                                )

                                            [54] => stdClass Object
                                                (
                                                    [text] => GASB – Government Accounting Standards Board
                                                    [href] => https://www.gasb.org/home
                                                    [hrefDomain] => gasb.org
                                                    [isOutbound] => 1
                                                )

                                            [55] => stdClass Object
                                                (
                                                    [text] => IFAC – International Federation of Accountants
                                                    [href] => https://www.ifac.org/
                                                    [hrefDomain] => ifac.org
                                                    [isOutbound] => 1
                                                )

                                            [56] => stdClass Object
                                                (
                                                    [text] => IASB – International Accounting Standards Board
                                                    [href] => https://www.ifrs.org/about-us/our-structure/
                                                    [hrefDomain] => ifrs.org
                                                    [isOutbound] => 1
                                                )

                                            [57] => stdClass Object
                                                (
                                                    [text] => SPAC – Society of Professional Accountants of Canada
                                                    [href] => http://www.professionalaccountant.org/
                                                    [hrefDomain] => professionalaccountant.org
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => How Management Accounting Differs from Other Accounting Practices. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Cost Benefit Analysis. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Sound Judgment, Reasonable Assumptions, and Justifiable Data. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Management Accountant Job Functions. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Management Accounting Certification | Certified Management Accountant. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Educational Requirements. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What It Can Mean to You: Management Accounting Salaries. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [schema_type] => Array
                                (
                                    [0] => Article
                                    [1] => WebSite
                                    [2] => BreadcrumbList
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management Accounting Modified November 5, 2021 Management accounting involves collecting, analyzing, and presenting financial information used to help company management make sound business decisions. This would include everything from providing detailed financial statements for different divisions within a large company, to analyzing the financial impact of a potential expansion or business acquisition. Management accounting is at the center of almost every significant business decision made. Management accountants are called upon to assess whether a company’s current products and processes are still viable. By comparing data on the projected profits generated by a line of business against the cost of shutting it down, management accountants can determine if operations should be discontinued. In this scenario, a comprehensive analysis would involve consolidating human resource data to assess the costs of potential layoffs, and using data from engineering and marketing to decide whether a new product needs to be added to the production line. A complete analysis of this nature would also consider the potential profits that could come from using resources from a discontinued line of business elsewhere. Management accountants prepare detailed analyses of both business problems and opportunities. Their reports are ultimately used to assist a company’s senior management in making the major decisions that determine the company’s financial success. Featured Programs: Sponsored School(s) Featured Bachelor Programs SPONSORED SCHOOL(S) Eastern Oregon University Featured Program: Bachelors in Accounting - Forensic Accounting, Bachelor in Accounting, Bachelors in Accounting - Certified Managerial Accounting Request Info Methodist University Featured Program: Bachelor of Applied Science in Accounting, Bachelor of Science in Accounting Request Info Purdue University Global Featured Program: Online Bachelor of Science in Accounting Request Info SNHU Featured Program: Online AS and BS in Accounting with focus of Finance or Forensic Accounting Request Info Arizona State University Featured Program: BS in Accountancy Request Info Featured Masters ProgramsSPONSORED SCHOOL(S) Norwich University Featured Program: Master of Accounting-Forensic Accounting, Master of Accounting Request Info The University of Scranton Featured Program: Master of Accountancy - Forensic Accounting, Master of Accountancy - Accounting Analytics, MBA - Accounting Request Info SNHU Featured Program: Online MBA and MS in Accounting with numerous focus options Request Info Ohio University Featured Program: Online Master of Accountancy Request Info University of North Dakota Featured Program: Master's in Accountancy Request Info How Management Accounting Differs from Other Accounting Practices. The accounting methods used by management accountants differ from those used by traditional accountants, financial controllers, and internal auditors whose jobs are focused on providing reports to external users. External parties privy to a company’s financial data generally include investors, or bankers considering the issuance of a loan, or regulators concerned with regulatory compliance. The question of whether the data is intended for external or internal users is the important factor that differentiates management accounting from other forms of accounting. Generally accepted accounting principles (GAAP) must be followed for external reporting to ensure these reports are standardized, but GAAP serves only as a guide in management accounting. For internal decision-making, management accountants often forgo the use of GAAP in order to develop the most accurate and useful picture of the future. They apply best practices documented by leading management accountants in a similar industry along with statistical processes to provide the most complete analysis possible. Internal users are more focused on how a cost will benefit the company in the future, while financial accounting is dedicated to presenting a picture of the past that allows for an easy and standardized comparison to other companies. Financial accounting for external parties follows strictly defined rules, but may not always present management with the information required to make sound business decisions. As an example, GAAP rules allowed Internet based companies to appear profitable even when they weren’t, which helped fuel the .com bubble in 1999 and early 2000. At that time, GAAP rules allowed companies to recognize revenue based upon service sharing agreements rather than cash transactions. If two companies sold banner ads to one another under a barter agreement, it would lead to higher revenue for both companies under GAAP, even through the reported revenue couldn’t actually be used to pay the bills. As a result of this, GAAP rules now require cash sales to take place before any revenue is recognized. Management accountants would’ve disregarded these barter transactions because they didn’t actually add to the company’s cash flow. Learn more about financial accounting. Cost Benefit Analysis. Cost-benefit analysis is the most common goal of management accounting. As an example, a company could build up excess cash after a few profitable years. The business then must choose how best to use that money. Company officers may consider acquiring a competing business or may return the money to shareholders. Senior executives may also want to consider the possibility of investing in the current business to expand output, or increase productivity by buying new equipment. Management accountants would prepare a detailed analysis of each choice. This would involve reducing each of these options to a single number representing its net present value, which is an estimate of how much money the company will make from moving forward with each option. The decision to return cash to investors would be the preferred option only if the company can’t earn at least as large a return on the investment as individual investors would likely get investing the cash on their own. Generally, a company will consider whether it can use cash to boost shareholder wealth, and management accountants will consider this question carefully in their analysis. If the business is likely to see lower returns than a safe bond investment would yield, or if it will generate returns that are less than those of the average company, it is usually best to return the cash to shareholders. Sound Judgment, Reasonable Assumptions, and Justifiable Data. Every mutual fund warns that past performance is not an absolute assurance of future performance. However, investors realize that the past is the only clue they have to what future performance is likely to be. Businesses face the same dilemma. Management accounting attempts to take the past, as documented by financial accountants, and extend those trends into the future by adding the necessary assumptions to make an educated guess about what the future holds. This offers company executives a statistical picture based on justifiable data of what the outcome of a given strategy will likely be. FIND SCHOOLSSponsored Content Management accountants are skilled analysts that make reasonable assumptions based on their expertise, experience, and accumulated past data. This means management accountants must really understand the business. Based on this understanding, they make assumptions about the likelihood of success of each option, costs associated with implementing each alternative, and the likely profit stream each offers within the current economic climate. A great deal of judgment is required in management accounting. Future outcomes hold a great deal of uncertainty and the management accountants will need to make estimates of the various factors that could impact business decisions. Senior executives rely on management accountants to gather all the relevant information needed to make fully informed decisions so as to create some degree of certainty in the otherwise uncertain world of economics. Without management accountants, senior executives would be gambling on the future. Their decisions would be based on instinct rather than justifiable data. Management Accountant Job Functions. There are a wide variety of tasks performed by management accountants. In large companies, there will most likely be a team of professionals specializing in each area, while at a small company there is likely to be only a single person responsible for addressing the entire area of management accounting. Financial analysis: Companies often must decide whether to replace equipment, expand operations, or make an acquisition of another company. In the end, management will usually choose to proceed only if the potential benefits outweigh the costs. Management accountants prepare the cost-benefit analysis that incorporates all the available information. Costs include all long-term expenses and non-cash factors including tax benefits from depreciation allowances. Benefits are the profits the project will deliver over its entire life cycle. Management accounting also requires considering alternative uses for company assets to compare the projected profits from the project under analysis with other available options. It is even possible that a project may have more benefits than costs, but it still might not meet the company’s minimum requirement for profitability in which case the management accountant would still recommend passing on the project. Budget preparation: Management accountants identify all costs associated with a project or a division when they prepare a budget. Traditional budget analysts look at cash flows exclusively, while management accountants think about the full spectrum of costs associated with the project. As an example, fringe benefit costs are paid from different accounting categories than labor costs, but management accountants add these costs to the equation to assess the true expenses of production. Financial management: Deciding which expenses to cut involves more than just looking at dollars and cents. Management accountants are charged with looking at the impact that potential savings will have on the quality of the product, and sometimes the savings will not be justified when looking at the big picture. Homebuilders face this dilemma all the time since they have the option of substituting less expensive materials, but at the cost of lowering the quality of the home and decreasing the selling price. Management accountants can help strike the balance between what expenses can be reduced without lowering profits. Auditing: An audit is defined as a methodical and thorough review of the data shown in financial statements. Management accountants may go through financial statements prepared with GAAP rules to verify that they reflect the actual costs of a project, and they may also enhance those statements by including a non-GAAP analysis that helps management understand the complete financial impact of the project. Audits can follow GAAP standards, or management accountants may apply their expertise and specialized knowledge to deliver a report that goes beyond GAAP. In doing so, they follow best practices guidelines identified by other management accountants and apply statistical information and projections that help make their work more reliable. Management consultation: The Big Four accounting firms retain a staff of management accountants prepared to advise large companies on questions related to restructuring and potential tax savings. Sole practitioners can offer these services to small companies, generally serving as independent management consultants on a contract basis. There are also some professionals who conduct research into best practices for management accounting, while others teach courses to professional audiences or to college and university students. Management Accounting Certification | Certified Management Accountant. The Chartered Institute of Management Accountants offers a professional designation that requires passing ten tests. Candidates generally take a few tests a year, and complete the program in less than four years. The total cost associated with earning the designation is about $2,000. A bachelor’s degree and professional experience are also required to earn the CIMA designation. Forty hours of continuing education every two years is required to maintain certification in active status. Professionals can also earn the Certified Management Accountant (CMA) designation conferred by the Institute of Management Accountants, an association made up of more than 60,000 accountants and financial professionals. The designation requires a bachelor’s degree from an accredited university as a prerequisite for the testing program. CMAs pass two four-hour exams – one focused on Financial Planning and Performance Analysis and the second on Control and Financial Decision Making. An enrollment fee of $200 and exam fees of $350 for each exam are required. Two years of professional experience are also required before applicants can become CMAs. Thirty hours of continuing education are required annually, and needs to include a minimum of two hours in specialized ethics training. Educational Requirements. Some colleges offer an associate’s degree in management accounting to prepare graduates to enter the corporate world in entry-level positions. However, a bachelor’s degree will be required to obtain one of the professional certifications in management accounting. Accounting, finance and business management majors are also well prepared for management accounting positions. In addition to general business courses, undergraduates should also complete courses in statistics and economics. Operations management is also a helpful course, as it will generally involve issues related to manufacturing processes. An overview of business operations strategies, facilities design, production planning and scheduling, inventory management, and quality control will be valuable for the aspiring management accountant. Courses in business law, ethics, organizational structure, and information systems technology will also generally be a part of the management accounting curriculum. For those pursuing master’s and doctorate level degrees in management accounting, coursework builds on core accounting skills and also helps develop critical thinking, decision making, and analytical skills that are required to meet the challenges faced by business organizations. What It Can Mean to You: Management Accounting Salaries. Positions that involve some level of management accounting often serve as a stepping stone for those with an eye toward senior management positions. This kind of experience lends itself perfectly to higher level roles that involve strategic decision aimed at controlling costs and increasing profitability. In fact, many CFOs start in accounting, often moving up through the ranks as corporate controllers before being groomed for executive positions. The Institute of Management Accountants reports that professionals who have earned the CMA certification make nearly $28,100 more in total compensation each year than their non-certified peers according to IMA’s 2021 U.S. Salary Survey. Median base salaries for CMAs are shown here in the first column, with total compensation that includes everything from bonuses to stock options shown in the second: Mid-Atlantic Region $110,000 $127,000 Midwest Region $105,000 $119,800 Mountain Region $105,000 $115,000 Northeast Region $115,000 $120,000 Plains Region $100,000 $109,000 South Region $104,650 $110,000 West Coast Region $105,000 $123,500 As of 2020, CMAs with a master’s degree reported a median annual salary of $115,000 within the first few years of earning the designation. The survey revealed that those working in big ag earned the highest median base salary at $122,000. The IT sector wasn’t far behind with a median of $107,000 that year. Those working in the finance and insurance industry reported a median salary of $110,000, while CMAs in public accounting earned $86,000 in 2020. All salary data sourced from the Association of Accounts and Financial Professional in Business 2021 U.S. Salary Survey. Data represents national and regional information, not school-specific data. Conditions in your area may vary. Information accessed April 2021. FIND SCHOOLSSponsored Content Accounting Resources Accounting Programs Public Accounting Management Accounting Internal Auditing Government Accounting Salaries Career Resources How to Become an Accountant Accredited Accounting Schools Accounting Scholarships AccountingEDU Scholarship Best Accounting Bachelor Programs 2021 Best Accounting Master’s Programs 2021 Best 100% Online Accounting Master’s Programs 2021 Most Affordable Bachelor Degree Programs in Accounting Most Affordable Master’s Degree Programs in Accounting A Guide to Becoming a Licensed CPA Tips for CPAs Working Remotely Everything You Need to Know about Getting Your Master’s Degree 22 Best Tips and Tricks for Studying for the CPA Exam CPA Resources Uniform Accountancy Act Uniform CPA Exam Specialty CPA Certification How to Become a CPA Education Resources Associates Degree in Accounting Bachelors Degree in Accounting Masters Degree in Accounting Online Doctorate Degree in Accounting Accounting Certificates Online Other Resources NASBA – National Association of State Boards of Accountancy AICPA – American Institute of CPAs IMA – Association for Accountants and Financial Professionals in Business IIA – Institute of Internal Auditors AGA – Association of Government Accountants AAA – American Accounting Association CGMA – Chartered Global Management Accountants CIMA – Chartered Institute of Management Accountants CPA – Chartered Professional Accountants of Canada FASB – Financial Accounting Standards Board GASB – Government Accounting Standards Board IFAC – International Federation of Accountants IASB – International Accounting Standards Board SPAC – Society of Professional Accountants of Canada
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 71
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 68
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 45
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 36
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 34
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 23
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => program
                                            [tf] => 22
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 21
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => degree
                                            [tf] => 21
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 21
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => master
                                            [tf] => 20
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 19
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => bachelor
                                            [tf] => 16
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => professional
                                            [tf] => 14
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => data
                                            [tf] => 13
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => featured
                                            [tf] => 13
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => cash
                                            [tf] => 12
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => gaap
                                            [tf] => 12
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 12
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 12
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => featured program
                                            [tf] => 11
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => request info
                                            [tf] => 10
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => university
                                            [tf] => 10
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => request
                                            [tf] => 10
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => info
                                            [tf] => 10
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => year
                                            [tf] => 9
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => benefit
                                            [tf] => 9
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => required
                                            [tf] => 9
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => salary
                                            [tf] => 9
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => cpa
                                            [tf] => 9
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 8
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => option
                                            [tf] => 8
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => future
                                            [tf] => 8
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => project
                                            [tf] => 8
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => accounting master
                                            [tf] => 7
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => accounting request info
                                            [tf] => 6
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => accounting request
                                            [tf] => 6
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => university featured program
                                            [tf] => 5
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => program 2021
                                            [tf] => 5
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => university featured
                                            [tf] => 5
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => accounting bachelor
                                            [tf] => 5
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => featured program online
                                            [tf] => 4
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => institute management accountant
                                            [tf] => 4
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => business decision
                                            [tf] => 4
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => forensic accounting
                                            [tf] => 4
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => program online
                                            [tf] => 4
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => master accountancy
                                            [tf] => 4
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => accountant financial
                                            [tf] => 4
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => cost benefit
                                            [tf] => 4
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 4
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => gaap rule
                                            [tf] => 4
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => institute management
                                            [tf] => 4
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => degree accounting
                                            [tf] => 4
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => management accountant prepare
                                            [tf] => 3
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => accountancy request info
                                            [tf] => 3
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => featured program master
                                            [tf] => 3
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => cost benefit analysi
                                            [tf] => 3
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => bachelor degree
                                            [tf] => 3
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => master degree
                                            [tf] => 3
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => accounting standard board
                                            [tf] => 3
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => financial statement
                                            [tf] => 3
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => large company
                                            [tf] => 3
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => accountant prepare
                                            [tf] => 3
                                        )

                                    [63] => stdClass Object
                                        (
                                            [term] => bachelor accounting
                                            [tf] => 3
                                        )

                                    [64] => stdClass Object
                                        (
                                            [term] => science accounting
                                            [tf] => 3
                                        )

                                    [65] => stdClass Object
                                        (
                                            [term] => accountancy request
                                            [tf] => 3
                                        )

                                    [66] => stdClass Object
                                        (
                                            [term] => program master
                                            [tf] => 3
                                        )

                                    [67] => stdClass Object
                                        (
                                            [term] => decision making
                                            [tf] => 3
                                        )

                                    [68] => stdClass Object
                                        (
                                            [term] => benefit analysi
                                            [tf] => 3
                                        )

                                    [69] => stdClass Object
                                        (
                                            [term] => senior executif
                                            [tf] => 3
                                        )

                                    [70] => stdClass Object
                                        (
                                            [term] => justifiable data
                                            [tf] => 3
                                        )

                                    [71] => stdClass Object
                                        (
                                            [term] => cost project
                                            [tf] => 3
                                        )

                                    [72] => stdClass Object
                                        (
                                            [term] => financial professional
                                            [tf] => 3
                                        )

                                    [73] => stdClass Object
                                        (
                                            [term] => region 105000
                                            [tf] => 3
                                        )

                                    [74] => stdClass Object
                                        (
                                            [term] => accounting standard
                                            [tf] => 3
                                        )

                                    [75] => stdClass Object
                                        (
                                            [term] => standard board
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 40
                            [rank] => 1962428
                        )

                    [15] => stdClass Object
                        (
                            [position] => 16
                            [title] => What are the Differences Between Financial Accounting and Management Accounting?
                            [url] => https://www.bentley.edu/news/what-are-differences-between-financial-accounting-and-management-accounting
                            [destination] => https://www.bentley.edu › news › what-are-differences-...
                            [description] => Whether or not you plan on majoring in Accounting, every student who plans to work in business after graduation needs to have an understanding of how companies operate financially, especially if you plan to hold a position of leadership in the future. At Bentley University, both financial..
                            [isAmp] => 
                            [date] => Aug 20, 2021
                            [organic_position] => 15
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => What are the Differences Between Financial Accounting and
                            [serp_description] => Management accounting, also referred to as managerial accounting, is used by managers and directors to make decisions regarding the daily ...
                            [hostname] => bentley.edu
                            [canonical] => https://www.bentley.edu/news/what-are-differences-between-financial-accounting-and-management-accounting
                            [h1] => What are the Differences Between Financial Accounting and Management Accounting?
                            [h2] => Array
                                (
                                    [0] => Newsroom
                                    [1] => Newsroom
                                    [2] => Newsroom
                                    [3] => What is management accounting?
                                    [4] => What is financial accounting?
                                    [5] => What is the difference between the two?
                                    [6] => An integrated approach to learning
                                    [7] => Prepare for your degree with Bentley University
                                )

                            [h3] => Array
                                (
                                    [0] => Popular Searches
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Newsroom
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Newsroom
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Newsroom
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => What is management accounting?
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => What is financial accounting?
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => What is the difference between the two?
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => An integrated approach to learning
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Prepare for your degree with Bentley University
                                        )

                                )

                            [type] => article
                            [wordCount] => 1006
                            [imgCount] => 5
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 27
                                    [outboundSize] => 0
                                    [list] => Array
                                        (
                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 3
                                            [name] => Popular Searches. 
                                            [tag] => h3
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 
      

      Newsroom
  
  . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 6
                                                            [name] => Cryptocurrency? First, they scoffed. Now they call him ‘CryptoKimm’
                                                            [tag] => h6
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Newsroom. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 
      

      Newsroom
  
  . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What is management accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What is financial accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What is the difference between the two?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => An integrated approach to learning. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [8] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Prepare for your degree with Bentley University. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.bentley.edu/sites/default/files/2021-08/financial%20accounting.jpg
                                    [twitterImage] => https://www.bentley.edu/sites/default/files/2021-08/financial%20accounting.jpg
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => What are the Differences Between Financial Accounting and Management Accounting? August 20, 2021 Whether or not you plan to major in Accounting, every student who plans to work in business after graduation needs to have an understanding of how companies operate financially, especially if you plan to hold a position of leadership in the future.         Professor SandersonFor example, let’s say you’re in charge of running the marketing department for your company. While you may think marketing has nothing to do with accounting, if you’re in charge of the department, you’ll need to know how to structure your budget based on past spending history and future predictions, as well as have the ability to read financial statements. Understanding accounting will also help you analyze your profits and make informed strategic business plans. “Regardless of your chosen career, it is critical to have a firm understanding of introductory accounting to do well in any business,” says Kerri-Ann Sanderson, assistant professor of Accounting at Bentley University. “Especially in today’s environment, if you want to be a leader and differentiate yourself from the rest, you must master the business aspects of your organization.” The two introductory accounting courses found in most business programs are financial accounting and management accounting. While both topics make up the foundational pillars of accounting, there are key differences between the two that you should know. What is management accounting? Management accounting, also referred to as managerial accounting, is used by managers and directors to make decisions regarding the daily operations of a company. A distinguishing feature of managerial accounting is that it is not based on past performance, but on current and future trends. For example, determining how much your business should charge for a new product and analyzing how much revenue a future product line is capable of generating are both examples of business problems within the field of managerial accounting. So, too, is deciding when to replace the computers in your offices. Since business leaders constantly need to make operational decisions in a short amount of time, management accounting must rely on predicting markets and future trends. What is financial accounting? Financial accounting is used to present the financial health of a company to external stakeholders. This allows the board of directors, stockholders, potential investors, creditors and financial institutions to see how the company has performed during a specific period of time in the past. These reports are filed on an annual basis. If a business is considered a publicly-traded company on the stock market, the reports must be made part of the public record. In a financial accounting course, students learn how to prepare, read and analyze financial statements. What is the difference between the two? There are two primary differences between financial and management accounting. The first difference is that management accounting is presented to a company’s internal community, while financial accounting is prepared for an external audience. Even though financial accounting is of great importance to current and potential investors, management accounting is necessary for managers to make current and future financial decisions for their business. The second difference is that financial accounting is exact and must adhere to Generally Accepted Accounting Principles (GAAP), while management accounting can be based off a guess or estimate since most managers do not have time to get exact numbers by the time a decision needs to be made. An integrated approach to learning. As an undergraduate or graduate business student, you will likely be required to take one course in financial accounting and one course in management accounting before you complete your degree. At Bentley, the general business curriculum for undergraduate students takes a less traditional approach. Instead of completing two separate courses in financial and management accounting, students are required to take two courses that integrate both fields. “In business, finance and accounting are a very integrated set of concepts, so we present them to students in this way,” explains Sanderson. “At Bentley, we immerse students in the effective implementation of these concepts in business while leveraging the power of data analytics using real-world applications.” If you decide to declare your major in Accounting or Corporate Finance and Accounting at Bentley, you’ll then go on to take two intermediate courses that dig deeper into the topics of managerial and financial accounting. You’ll also be required to take a course in cost accounting, which provides the next level of detail in managerial accounting. This course will provide you with comprehensive coverage of the principles involved in determining the cost of product or service. Prepare for your degree with Bentley University. As a graduate of Bentley, you will benefit from the university’s long-standing reputation for excellence in accounting instruction at both the undergraduate and graduate level. In 2021, College Factual, an online portal designed to assist students in selecting a college, acknowledged the high caliber of Bentley’s undergraduate accounting program by ranking it #1 in the nation. Bentley’s Master of Science in Accounting program was ranked #35 by Eduniversal for accounting and auditing graduate programs in North America. Eduniversal bases its rankings on three main criteria: program reputation, the salary of first employment and student satisfaction.  As a result of Bentley’s reputation, the university is repeatedly sought out by the nation’s top accounting firms. “All of the big four accounting firms (Deloitte, PwC, EY and KPMG) have Bentley University on their list of key recruiting schools,” shares Sanderson. In addition, Bentley’s faculty, Pulsifer Career Development Center and alumni network have extensive connections within these organizations and other accounting firms across the country that you can take advantage of during your degree program. Learn more about Bentley's undergraduate and graduate Accounting programs. 
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 50
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 17
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => bentley
                                            [tf] => 16
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 15
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 11
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => student
                                            [tf] => 11
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 11
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 10
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 8
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => program
                                            [tf] => 7
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => university
                                            [tf] => 6
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => undergraduate
                                            [tf] => 6
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => difference
                                            [tf] => 6
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => future
                                            [tf] => 6
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 5
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 5
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => graduate
                                            [tf] => 5
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => accounting management accounting
                                            [tf] => 4
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => accounting student
                                            [tf] => 4
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => accounting management
                                            [tf] => 4
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => reputation
                                            [tf] => 4
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => plan
                                            [tf] => 4
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => firm
                                            [tf] => 4
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => cours
                                            [tf] => 4
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 4
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => time
                                            [tf] => 4
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => financial accounting management
                                            [tf] => 3
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => difference financial
                                            [tf] => 3
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => bentley university
                                            [tf] => 3
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => undergraduate graduate
                                            [tf] => 3
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => accounting program
                                            [tf] => 3
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => accounting firm
                                            [tf] => 3
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => example
                                            [tf] => 3
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => charge
                                            [tf] => 3
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => based
                                            [tf] => 3
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => past
                                            [tf] => 3
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => sanderson
                                            [tf] => 3
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => manager
                                            [tf] => 3
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => current
                                            [tf] => 3
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 3
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => required
                                            [tf] => 3
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => degree
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 50
                            [rank] => 27948
                        )

                    [16] => stdClass Object
                        (
                            [position] => 17
                            [title] => Managerial Accounting - Table of Contents
                            [url] => https://saylordotorg.github.io/text_managerial-accounting/
                            [destination] => https://saylordotorg.github.io › text_managerial-accoun...
                            [isAmp] => 
                            [organic_position] => 16
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Managerial Accounting - Table of Contents
                            [serp_description] => Chapter Introduction · Characteristics of Managerial Accounting · Planning and Control Functions Performed by Managers · Key Finance and Accounting Personnel ...
                            [hostname] => saylordotorg.github.io
                            [h1] => Managerial Accounting
                            [h2] => Array
                                (
                                    [0] => Table of Contents
                                )

                            [h3] => Array
                                (
                                    [0] => Licensing Information
                                    [1] => Preface
                                    [2] => Chapter 1: What Is Managerial Accounting?
                                    [3] => Chapter 2: How Is Job Costing Used to Track Production Costs?
                                    [4] => Chapter 3: How Does an Organization Use Activity-Based Costing to Allocate Overhead Costs?
                                    [5] => Chapter 4: How Is Process Costing Used to Track Production Costs?
                                    [6] => Chapter 5: How Do Organizations Identify Cost Behavior Patterns?
                                    [7] => Chapter 6: How Is Cost-Volume-Profit Analysis Used for Decision Making?
                                    [8] => Chapter 7: How Are Relevant Revenues and Costs Used to Make Decisions?
                                    [9] => Chapter 8: How Is Capital Budgeting Used to Make Decisions?
                                    [10] => Chapter 9: How Are Operating Budgets Created?
                                    [11] => Chapter 10: How Do Managers Evaluate Performance Using Cost Variance Analysis?
                                    [12] => Chapter 11: How Do Managers Evaluate Performance in Decentralized Organizations?
                                    [13] => Chapter 12: How Is the Statement of Cash Flows Prepared and Used?
                                    [14] => Chapter 13: How Do Managers Use Financial and Nonfinancial Performance Measures?
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Table of Contents
                                            [id] => toc-header
                                        )

                                )

                            [wordCount] => 673
                            [imgCount] => 0
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 113
                                    [outboundSize] => 0
                                    [list] => Array
                                        (
                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Table of Contents. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Licensing Information. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Preface. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 1: What Is Managerial Accounting?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 2: How Is Job Costing Used to Track Production Costs?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 3: How Does an Organization Use Activity-Based Costing to Allocate Overhead Costs?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 4: How Is Process Costing Used to Track Production Costs?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [6] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 5: How Do Organizations Identify Cost Behavior Patterns?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [7] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 6: How Is Cost-Volume-Profit Analysis Used for Decision Making?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [8] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 7: How Are Relevant Revenues and Costs Used to Make Decisions?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [9] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 8: How Is Capital Budgeting Used to Make Decisions?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [10] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 9: How Are Operating Budgets Created?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [11] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 10: How Do Managers Evaluate Performance Using Cost Variance Analysis?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [12] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 11: How Do Managers Evaluate Performance in Decentralized Organizations?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [13] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 12: How Is the Statement of Cash Flows Prepared and Used?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [14] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Chapter 13: How Do Managers Use Financial and Nonfinancial Performance Measures?
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Managerial Accounting v. 1.0 Table of Contents. Licensing Information. Preface. Chapter 1: What Is Managerial Accounting? Chapter Introduction Characteristics of Managerial Accounting Planning and Control Functions Performed by Managers Key Finance and Accounting Personnel Ethical Issues Facing the Accounting Industry Computerized Accounting Systems Cost Terminology How Product Costs Flow through Accounts Income Statements for Manufacturing Companies Chapter 2: How Is Job Costing Used to Track Production Costs? Chapter Introduction Differentiating Job Costing from Process Costing How a Job Costing System Works Assigning Manufacturing Overhead Costs to Jobs Job Costing in Service Organizations Chapter Wrap-Up: Summary of Cost Flows at Custom Furniture Company Chapter 3: How Does an Organization Use Activity-Based Costing to Allocate Overhead Costs? Chapter Introduction Why Allocate Overhead Costs? Approaches to Allocating Overhead Costs Using Activity-Based Costing to Allocate Overhead Costs Using Activity-Based Management to Improve Operations Using Activity-Based Costing (ABC) and Activity-Based Management (ABM) in Service Organizations Variations of Activity-Based Costing (ABC) Chapter 4: How Is Process Costing Used to Track Production Costs? Chapter Introduction Comparison of Job Costing with Process Costing Product Cost Flows in a Process Costing System Determining Equivalent Units The Weighted Average Method Preparing a Production Cost Report Chapter 5: How Do Organizations Identify Cost Behavior Patterns? Chapter Introduction Cost Behavior Patterns Cost Estimation Methods The Contribution Margin Income Statement The Relevant Range and Nonlinear Costs Appendix: Performing Regression Analysis with Excel Chapter 6: How Is Cost-Volume-Profit Analysis Used for Decision Making? Chapter Introduction Cost-Volume-Profit Analysis for Single-Product Companies Cost-Volume-Profit Analysis for Multiple-Product and Service Companies Using Cost-Volume-Profit Models for Sensitivity Analysis Impact of Cost Structure on Cost-Volume-Profit Analysis Using a Contribution Margin When Faced with Resource Constraints Income Taxes and Cost-Volume-Profit Analysis Using Variable Costing to Make Decisions Chapter 7: How Are Relevant Revenues and Costs Used to Make Decisions? Chapter Introduction Using Differential Analysis to Make Decisions Make-or-Buy Decisions Product Line Decisions Customer Decisions Review of Cost Terms Used in Differential Analysis Special Order Decisions Cost-Plus Pricing and Target Costing Identifying and Managing Bottlenecks Be Aware of Qualitative Factors Appendix: Making Decisions Involving Joint Costs Chapter 8: How Is Capital Budgeting Used to Make Decisions? Chapter Introduction Capital Budgeting and Decision Making Net Present Value The Internal Rate of Return Other Factors Affecting NPV and IRR Analysis The Payback Method Additional Complexities of Estimating Cash Flows The Effect of Income Taxes on Capital Budgeting Decisions Appendix: Present Value Tables Chapter 9: How Are Operating Budgets Created? Chapter Introduction Planning and Controlling Operations The Budgeting Process The Master Budget Budgeting in Nonmanufacturing Organizations Ethical Issues in Creating Operating Budgets Chapter 10: How Do Managers Evaluate Performance Using Cost Variance Analysis? Chapter Introduction Flexible Budgets Standard Costs Direct Materials Variance Analysis Direct Labor Variance Analysis Variable Manufacturing Overhead Variance Analysis Determining Which Cost Variances to Investigate Using Variance Analysis with Activity-Based Costing Fixed Manufacturing Overhead Variance Analysis Appendix: Recording Standard Costs and Variances Chapter 11: How Do Managers Evaluate Performance in Decentralized Organizations? Chapter Introduction Using Decentralized Organizations to Control Operations Maintaining Control over Decentralized Organizations Comparing Segmented Income for Investment Centers Using Return on Investment (ROI) to Evaluate Performance Using Residual Income (RI) to Evaluate Performance Using Economic Value Added (EVA) to Evaluate Performance Wrap-Up of Game Products, Inc. Appendix: Transfer Prices between Divisions Chapter 12: How Is the Statement of Cash Flows Prepared and Used? Chapter Introduction Purpose of the Statement of Cash Flows Three Types of Cash Flow Activities Four Key Steps to Preparing the Statement of Cash Flows Using the Indirect Method to Prepare the Statement of Cash Flows Analyzing Cash Flow Information Appendix: Using the Direct Method to Prepare the Statement of Cash Flows Chapter 13: How Do Managers Use Financial and Nonfinancial Performance Measures? Chapter Introduction Trend Analysis of Financial Statements Common-Size Analysis of Financial Statements Ratio Analysis of Financial Information Wrap-Up of Chapter Example Nonfinancial Performance Measures: The Balanced Scorecard
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => chapter
                                            [tf] => 37
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 32
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 19
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => costing
                                            [tf] => 16
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => chapter introduction
                                            [tf] => 13
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => introduction
                                            [tf] => 13
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 12
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => flow
                                            [tf] => 11
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 10
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => statement
                                            [tf] => 9
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => cash flow
                                            [tf] => 8
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => activity
                                            [tf] => 8
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => cash
                                            [tf] => 8
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => variance
                                            [tf] => 8
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => cost volume
                                            [tf] => 7
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => activity based
                                            [tf] => 7
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 7
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => job
                                            [tf] => 7
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => overhead
                                            [tf] => 7
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => based
                                            [tf] => 7
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => performance
                                            [tf] => 7
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => cost volume profit
                                            [tf] => 6
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => job costing
                                            [tf] => 6
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => volume profit
                                            [tf] => 6
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => variance analysi
                                            [tf] => 6
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => process
                                            [tf] => 6
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 6
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => income
                                            [tf] => 6
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => appendix
                                            [tf] => 6
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => volume
                                            [tf] => 6
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => profit
                                            [tf] => 6
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => activity based costing
                                            [tf] => 5
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => volume profit analysi
                                            [tf] => 5
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => statement cash flow
                                            [tf] => 5
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 5
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => cost chapter
                                            [tf] => 5
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => process costing
                                            [tf] => 5
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => overhead cost
                                            [tf] => 5
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => based costing
                                            [tf] => 5
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => profit analysi
                                            [tf] => 5
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => evaluate performance
                                            [tf] => 5
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => statement cash
                                            [tf] => 5
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => method
                                            [tf] => 5
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => budgeting
                                            [tf] => 5
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => evaluate
                                            [tf] => 5
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => decision chapter
                                            [tf] => 4
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => capital budgeting
                                            [tf] => 4
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => manufacturing
                                            [tf] => 4
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 4
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => budget
                                            [tf] => 4
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 4
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => cost chapter introduction
                                            [tf] => 3
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => allocate overhead cost
                                            [tf] => 3
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => capital budgeting decision
                                            [tf] => 3
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => cost flow
                                            [tf] => 3
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => production cost
                                            [tf] => 3
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => manufacturing overhead
                                            [tf] => 3
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => wrap up
                                            [tf] => 3
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => allocate overhead
                                            [tf] => 3
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => budgeting decision
                                            [tf] => 3
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => cost variance
                                            [tf] => 3
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => decentralized organization
                                            [tf] => 3
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => analysi financial
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 47
                            [rank] => 156561
                        )

                    [17] => stdClass Object
                        (
                            [position] => 18
                            [title] => Professional Management Accounting, Certificate | New Jersey City University
                            [url] => https://www.njcu.edu/academics/schools-colleges/school-business/departments/accounting/graduate-programs/professional-management-accounting-certificate
                            [destination] => https://www.njcu.edu › accounting › graduate-programs
                            [isAmp] => 
                            [organic_position] => 17
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Professional Management Accounting, Certificate - New ...
                            [serp_description] => The Graduate Certificate in Professional Management Accounting is designed ... critical thinking and business decision making skills of accounting managers.
                            [hostname] => njcu.edu
                            [canonical] => https://www.njcu.edu/academics/schools-colleges/school-business/departments/accounting/graduate-programs/professional-management-accounting-certificate
                            [h1] => Professional Management Accounting Certificate
                            [h2] => Array
                                (
                                    [0] => About This Degree
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => About This Degree
                                        )

                                )

                            [wordCount] => 201
                            [imgCount] => 1
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 10
                                    [outboundSize] => 2
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => Certified Management Accountant (CMA) examination
                                                    [href] => http://www.imanet.org/cma-certification/cma-certification-overview
                                                    [hrefDomain] => imanet.org
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Institute of Management Accountants
                                                    [href] => http://www.imanet.org/
                                                    [hrefDomain] => imanet.org
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => About This Degree. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Professional Management Accounting Certificate Certification Photo of business woman working sob About This Degree. The Graduate Certificate in Professional Management Accounting is designed to broaden the accounting knowledge and competencies of private accounting professionals and strengthen critical thinking and business decision making skills of accounting managers. The program prepares the student for the Certified Management Accountant (CMA) examination examination which is administered by the Institute of Management Accountants. See Full Curriculum APPLY NOW Gainful Employment Disclosure: Prof Management Accounting The accounting curriculum prepares students to sit for the Certified Public Accounting (CPA) examination. In New Jersey, students need 150 semester hours of college credits. The undergraduate accounting program combined with the Master of Science in Accounting is designed to meet this requirement. In addition the degree is an excellent base for students planning on pursuing an M.B.A. or an M.S. in accounting.
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 11
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 5
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => student
                                            [tf] => 4
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 3
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => professional
                                            [tf] => 3
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => examination
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 47
                            [rank] => 148268
                        )

                    [18] => stdClass Object
                        (
                            [position] => 19
                            [title] => Managerial Accounting Fundamentals | Coursera
                            [url] => https://www.coursera.org/learn/uva-darden-managerial-accounting
                            [destination] => https://www.coursera.org › Browse › Business › Finance
                            [description] => Offered by University of Virginia. This course, developed at the Darden School of Business at the University of Virginia and taught by ... Enroll for free
                            [isAmp] => 
                            [organic_position] => 18
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Managerial Accounting Fundamentals | Coursera
                            [serp_description] => During this first week, we'll distinguish managerial from financial accounting, including the financial and related information managers need to help them ...
                            [hostname] => coursera.org
                            [canonical] => https://www.coursera.org/learn/uva-darden-managerial-accounting
                            [h1] => Managerial Accounting Fundamentals
                            [h2] => Array
                                (
                                    [0] => Managerial Accounting Fundamentals
                                    [1] => About this Course
                                    [2] => Instructor
                                    [3] => Offered by
                                    [4] => Syllabus - What you will learn from this course
                                    [5] => Week 1
                                    [6] => MANAGERIAL ACCOUNTING AND COST BEHAVIOR
                                    [7] => Week 2
                                    [8] => COST-VOLUME-PROFIT ANALYSIS
                                    [9] => Week 3
                                    [10] => COST ALLOCATION
                                    [11] => Week 4
                                    [12] => RELEVANT COSTS AND BENEFITS
                                    [13] => Reviews
                                    [14] => Frequently Asked Questions
                                    [15] => Coursera Footer
                                )

                            [h3] => Array
                                (
                                    [0] => What you will learn
                                    [1] => Luann J. Lynch
                                    [2] => University of Virginia
                                    [3] => TOP REVIEWS FROM MANAGERIAL ACCOUNTING FUNDAMENTALS
                                    [4] => Start or advance your career
                                    [5] => Browse popular topics
                                    [6] => Popular courses and articles
                                    [7] => Earn a degree or certificate online
                                    [8] => Coursera
                                    [9] => Community
                                    [10] => More
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Managerial Accounting Fundamentals
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => About this Course
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Instructor
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => Offered by
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => Syllabus - What you will learn from this course
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Week 1
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => MANAGERIAL ACCOUNTING AND COST BEHAVIOR
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Week 2
                                        )

                                    [8] => stdClass Object
                                        (
                                            [text] => COST-VOLUME-PROFIT ANALYSIS
                                        )

                                    [9] => stdClass Object
                                        (
                                            [text] => Week 3
                                        )

                                    [10] => stdClass Object
                                        (
                                            [text] => COST ALLOCATION
                                        )

                                    [11] => stdClass Object
                                        (
                                            [text] => Week 4
                                        )

                                    [12] => stdClass Object
                                        (
                                            [text] => RELEVANT COSTS AND BENEFITS
                                        )

                                    [13] => stdClass Object
                                        (
                                            [text] => Reviews
                                        )

                                    [14] => stdClass Object
                                        (
                                            [text] => Frequently Asked Questions
                                        )

                                    [15] => stdClass Object
                                        (
                                            [text] => Coursera Footer
                                        )

                                )

                            [type] => website
                            [wordCount] => 1771
                            [imgCount] => 18
                            [lang] => stdClass Object
                                (
                                    [langLinks] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [lang] => en
                                                    [url] => https://www.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [lang] => de
                                                    [url] => https://de.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [lang] => es
                                                    [url] => https://es.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [lang] => fr
                                                    [url] => https://fr.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [lang] => id
                                                    [url] => https://id.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [lang] => ja
                                                    [url] => https://ja.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [lang] => ko
                                                    [url] => https://ko.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [lang] => pt
                                                    [url] => https://pt.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [lang] => ru
                                                    [url] => https://ru.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [lang] => zh
                                                    [url] => https://zh.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [10] => stdClass Object
                                                (
                                                    [lang] => zh-tw
                                                    [url] => https://zh-tw.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                            [11] => stdClass Object
                                                (
                                                    [lang] => x-default
                                                    [url] => https://www.coursera.org/learn/uva-darden-managerial-accounting
                                                )

                                        )

                                    [size] => 11
                                    [string] => en / de / es / fr / id / ja / ko / pt / ru / zh / zh-tw
                                )

                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 145
                                    [outboundSize] => 16
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => Learn more
                                                    [href] => https://learner.coursera.help/hc/articles/209819033
                                                    [hrefDomain] => coursera.help
                                                    [rel] => noopener nofollow
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Learner Help Center
                                                    [href] => https://learner.coursera.help/hc/
                                                    [hrefDomain] => coursera.help
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => Learners
                                                    [href] => https://www.coursera.community
                                                    [hrefDomain] => coursera.community
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => Beta Testers
                                                    [href] => https://www.coursera.community/#beta-tester
                                                    [hrefDomain] => coursera.community
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => Translators
                                                    [href] => https://www.coursera.community/#gtc
                                                    [hrefDomain] => coursera.community
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => Tech Blog
                                                    [href] => https://medium.com/coursera-engineering
                                                    [hrefDomain] => medium.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => Investors
                                                    [href] => https://investor.coursera.com
                                                    [hrefDomain] => coursera.com
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => Help
                                                    [href] => https://learner.coursera.help/hc
                                                    [hrefDomain] => coursera.help
                                                    [isOutbound] => 1
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [text] => Accessibility
                                                    [href] => https://learner.coursera.help/hc/articles/360050668591-Accessibility-Statement
                                                    [hrefDomain] => coursera.help
                                                    [isOutbound] => 1
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://itunes.apple.com/app/apple-store/id736535961?pt=2334150&ct=Coursera%20Web%20Promo%20Banner&mt=8
                                                    [hrefDomain] => apple.com
                                                    [isOutbound] => 1
                                                )

                                            [10] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => http://play.google.com/store/apps/details?id=org.coursera.android
                                                    [hrefDomain] => google.com
                                                    [isOutbound] => 1
                                                )

                                            [11] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.facebook.com/Coursera
                                                    [hrefDomain] => facebook.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [12] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.linkedin.com/company/coursera
                                                    [hrefDomain] => linkedin.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [13] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://twitter.com/coursera
                                                    [hrefDomain] => twitter.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [14] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.youtube.com/user/coursera
                                                    [hrefDomain] => youtube.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                            [15] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.instagram.com/coursera/
                                                    [hrefDomain] => instagram.com
                                                    [rel] => noopener noreferrer
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Managerial Accounting Fundamentals. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => About this Course. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => What you will learn. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Instructor. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Luann J. Lynch. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Offered by. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => University of Virginia. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Syllabus - What you will learn from this course. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Week  1. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => MANAGERIAL ACCOUNTING AND COST BEHAVIOR. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Week  2. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [8] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => COST-VOLUME-PROFIT ANALYSIS. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [9] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Week  3. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [10] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => COST ALLOCATION. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [11] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Week  4. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [12] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => RELEVANT COSTS AND BENEFITS. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [13] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Reviews. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => TOP REVIEWS FROM MANAGERIAL ACCOUNTING FUNDAMENTALS. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [14] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Frequently Asked Questions. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [15] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Coursera Footer. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Start or advance your career. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Browse popular topics. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Popular courses and articles. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Earn a degree or certificate online. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Coursera. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Community. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [6] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => More. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://s3.amazonaws.com/coursera_assets/meta_images/generated/XDP/XDP~COURSE!~uva-darden-managerial-accounting/XDP~COURSE!~uva-darden-managerial-accounting.jpeg
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Managerial Accounting FundamentalsFilled StarFilled StarFilled StarFilled StarFilled Star4.8stars541 ratingsLuann J. Lynch   Financial aid available37,099 already enrolledOffered ByManagerial Accounting Fundamentals. University of VirginiaAbout this Course. 46,416 recent viewsThis course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, will teach you the fundamentals of managerial accounting including how to navigate the financial and related information managers need to help them make decisions. You'll learn about cost behavior and cost allocation systems, how to conduct cost-volume-profit analysis, and how to determine if costs and benefits are relevant to your decisions. By the end of this course, you will be able to: - Describe different types of costs and how they are represented graphically - Conduct cost-volume-profit analyses to answer questions around breaking even and generating profit - Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems - Distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision - Determine a reasonable course of action, given the financial impact, for a given management decisionFlexible deadlinesFlexible deadlinesReset deadlines in accordance to your schedule.Shareable CertificateShareable CertificateEarn a Certificate upon completion100% online100% onlineStart instantly and learn at your own schedule.Beginner LevelBeginner LevelNo prior experience needed to participate in and benefit from this course.Hours to completeApprox. 13 hours to completeAvailable languagesEnglishSubtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, SpanishWhat you will learn. Different types of costs and how they are represented graphicallyCost-volume-profit analyses to answer questions around breaking even and generating profitHow to calculate and allocate overhead rates within both traditional and activity-based cost allocation systemsHow to distinguish costs and benefits that are relevant from those that are irrelevant for a given management decisionFlexible deadlinesFlexible deadlinesReset deadlines in accordance to your schedule.Shareable CertificateShareable CertificateEarn a Certificate upon completion100% online100% onlineStart instantly and learn at your own schedule.Beginner LevelBeginner LevelNo prior experience needed to participate in and benefit from this course.Hours to completeApprox. 13 hours to completeAvailable languagesEnglishSubtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, SpanishInstructor. Instructor rating 4.86/5 (146 Ratings)InfoLuann J. Lynch. Almand R. Coleman Professor of Business AdministrationDarden School of Business 141,181 Learners 2 CoursesOffered by. University of Virginia. A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.go to previous testimonialgo to next testimonial123Syllabus - What you will learn from this course. Content RatingThumbs Up97%(2,233 ratings)InfoWeek1Week 1. Hours to complete3 hours to completeMANAGERIAL ACCOUNTING AND COST BEHAVIOR. Welcome to the course -- we're glad you're here! During this first week, we'll distinguish managerial from financial accounting, including the financial and related information managers need to help them make decisions. We'll then move on to cost behavior including different types of costs, their classifications, and how these classifications help with decision-making. From there, we'll show how to use a scatterplot and the high-low method to estimate cost functions. Let's get started!Hours to complete3 hours to completeReading16 videos (Total 71 min), 2 readings, 3 quizzesSee AllVideo16 videosWelcome and Course Overview56sWhat Is Managerial Accounting?1mThree Sets of Books3mFinancial Versus Managerial Accounting2mDifferent Costs for Different Purposes2mDifferent Costs in More Detail7mCost Behavior3mUsing a Line to Represent Cost Behavior2mEstimating Cost Functions Using Scatter Plots5mYour Turn: Estimating Cost Functions Using Scatter Plots Problem 15mYour Turn: Estimating Cost Functions Using Scatter Plots Problem 24mEstimating Cost Functions Using the High-Low Method5mYour Turn: Estimating Cost Functions Using the High-Low Method Problem 17mYour Turn: Estimating Cost Functions Using the High Low Method Problem 25mImportant Caveats10mJW Sports Supplies Case Introduction1mReading2 readingsCourse Overview10mWelcome to Honors!10mQuiz3 practice exercisesWeek 1 Practice Quiz30mWeek 1 Graded Quiz30mWeek 1 Honors Graded Quiz30mWeek2Week 2. Hours to complete5 hours to completeCOST-VOLUME-PROFIT ANALYSIS. Now that we've learned the fundamentals of cost behavior, we're ready to move on to discussing the relationships between cost structure, volume, price, and profit. We'll then see why these relationships matter as we conduct cost-volume-profit analyses to answer questions around breaking even and generating profit.Hours to complete5 hours to completeReading15 videos (Total 50 min)See AllVideo15 videosWeek 2 Overview48sWhat Is CVP Analysis?2mFunctional Versus Contribution Margin Income Statements4mBreakeven Analysis4mYour Turn: Breakeven Analysis Company A2mYour Turn: Breakeven Analysis Company B1mYour Turn: Breakeven Analysis Company C2mYour Turn: Breakeven Analysis Company D3mInterested in Doing More than Breakeven?3mYour Turn: Doing More than Breakeven Company A3mYour Turn: Doing More than Breakeven Company B3mYour Turn: Doing More than Breakeven Company C2mYour Turn: Doing More than Breakeven Company D2mCVP Analysis with Multiple Products5mYour Turn: CVP Analysis with Multiple Products6mQuiz4 practice exercisesWeek 2 Practice Quiz30mWeek 2 Graded Quiz30mWeek 2 Honors Graded Quiz 130mWeek 2 Honors Graded Quiz 230mWeek3Week 3. Hours to complete3 hours to completeCOST ALLOCATION. After learning how to conduct cost-volume-profit analyses, we're ready to discuss cost allocation and the different types of systems we can use: traditional and activity-based. From there, we'll learn how to calculate overhead rates and allocate overhead within both types of systems.Hours to complete3 hours to completeReading14 videos (Total 75 min), 1 reading, 3 quizzesSee AllVideo14 videosWeek 3 Overview36sThe Flow of Costs4mThe Flow of Costs in More Detail4mCost Systems5mAllocating Overhead Costs5mDesigning Cost Allocation Systems2mYour Turn: Allocating Overhead Costs Problem 15mYour Turn: Allocating Overhead Costs Problem 24mTraditional Cost Allocation Systems4mActivity-Based Costing12mBeyond Manufacturing Costs6mYour Turn: Activity-Based Costing Problem 18mYour Turn: Activity-Based Costing Problem 28mTo Use Activity-Based Costing or Not?53sReading1 readingJW Sports Supplies Case (Part B)10mQuiz3 practice exercisesWeek 3 Practice Quiz30mWeek 3 Graded Quiz30mWeek 3 Honors Graded Quiz30mWeek4Week 4. Hours to complete2 hours to completeRELEVANT COSTS AND BENEFITS. In our final week, we'll discuss costs and benefits, and gain an understanding of those that are relevant for a given decision. We'll evaluate the financial impact of a given decision, then determine a reasonable course of action.Hours to complete2 hours to completeReading14 videos (Total 64 min)See AllVideo14 videosWeek 4 Overview1mRelevant Costs and Benefits3mImportant Terms2mRelevant Costs in an Example4mYour Turn: Relevant Costs and Benefits4mSpecial Order Decision7mYour Turn: Special Order Decision3mMake or Buy Decision5mYour Turn: Make or Buy Decision4mKeep or Drop a Product Line Decision5mYour Turn: Keep or Drop a Product Line Decision4mProduct Mix Decisions10mYour Turn: Product Mix Decisions4mCourse Conclusion1mQuiz2 practice exercisesWeek 4 Practice Quiz30mWeek 4 Graded Quiz30mReviews. 4.8Filled StarFilled StarFilled StarFilled StarFilled Star130 reviews5 stars84.95%4 stars13.21%3 stars0.55%2 stars0.36%1 star0.91%TOP REVIEWS FROM MANAGERIAL ACCOUNTING FUNDAMENTALS. Filled StarFilled StarFilled StarFilled StarFilled Starby SApr 7, 2020Hi! I loved the course. The prof is so nice and deliver all information so easily and understandable even for the person with absolutely another sphere.\n\nThank you! I recommend it 100%Filled StarFilled StarFilled StarFilled StarStarby KBMar 2, 2020There were a lot of good example problems that were very beneficial to understanding the concepts, however some of the exam questions were difficult to go back and completely understand.Filled StarFilled StarFilled StarFilled StarFilled Starby CAAug 12, 2020Excellent course, very useful and applicable. Excellent teacher. Some writing errors in the quizzes and exercises, but for everything else, it was excellent. I learned a lot.Filled StarFilled StarFilled StarFilled StarFilled Starby NJul 5, 2020this course very convenient for mangers . Mrs Luann J. Lynch is great instructor , i really love the way she taught us. thanks to her for making Managerial Accounting so easy .View all reviewsFrequently Asked Questions. When will I have access to the lectures and assignments?Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option: The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.What will I get if I purchase the Certificate?When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.Is financial aid available?Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You’ll be prompted to complete an application and will be notified if you are approved. Learn more.More questions? Visit the Learner Help Center. Coursera Footer. Start or advance your career. Google Data AnalystGoogle Project ManagementGoogle UX DesignGoogle IT SupportIBM Data ScienceIBM Data AnalystIBM Data Analytics with Excel and RIBM Cybersecurity AnalystIBM Data EngineeringIBM Full Stack Cloud DeveloperFacebook Social Media MarketingFacebook Marketing AnalyticsSalesforce Sales Development RepresentativeSalesforce Sales OperationsIntuit BookkeepingPreparing for Google Cloud Certification: Cloud ArchitectPreparing for Google Cloud Certification: Cloud Data EngineerLaunch your careerPrepare for a certificationAdvance your careerBrowse popular topics. Free CoursesLearn a LanguagePythonJavaWeb DesignSQLCursos GratisMicrosoft ExcelProject ManagementCybersecurityHuman ResourcesData Science Free CoursesSpeaking EnglishContent WritingFull Stack Web DevelopmentArtificial IntelligenceC ProgrammingCommunication SkillsBlockchainSee all coursesPopular courses and articles. Skills for Data Science TeamsData Driven Decision MakingSoftware Engineering SkillsSoft Skills for Engineering TeamsManagement SkillsMarketing SkillsSkills for Sales TeamsProduct Manager SkillsSkills for FinancePopular Data Science Courses in the UKBeliebte Technologiekurse in DeutschlandPopular Cybersecurity CertificationsPopular IT CertificationsPopular SQL CertificationsMarketing Manager Career GuideProject Manager Career GuidePython Programming SkillsWeb Developer Career GuideData Analyst SkillsSkills for UX DesignersEarn a degree or certificate online. MasterTrack® CertificatesProfessional CertificatesUniversity CertificatesMBA & Business DegreesData Science DegreesComputer Science DegreesData Analytics DegreesPublic Health DegreesSocial Sciences DegreesManagement DegreesDegrees from Top European UniversitiesMaster's DegreesBachelor's DegreesDegrees with a Performance PathwayBsc CoursesWhat is a Bachelor's Degree?How Long Does a Master's Degree Take?Is an Online MBA Worth It?7 Ways to Pay for Graduate SchoolSee all certificatesCoursera. AboutWhat We OfferLeadershipCareersCatalogCoursera PlusProfessional CertificatesMasterTrack® CertificatesDegreesFor EnterpriseFor GovernmentFor CampusBecome a PartnerCoronavirus ResponseCommunity. LearnersPartnersDevelopersBeta TestersTranslatorsBlogTech BlogTeaching CenterMore. PressInvestorsTermsPrivacyHelpAccessibilityContactArticlesDirectoryAffiliatesLearn Anywhere© 2022 Coursera Inc. All rights reserved.
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 39
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => starfilled
                                            [tf] => 23
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => turn
                                            [tf] => 22
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => hour
                                            [tf] => 18
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => starfilled starfilled
                                            [tf] => 17
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => quiz30mweek
                                            [tf] => 14
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => graded
                                            [tf] => 14
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => practice quiz30mweek
                                            [tf] => 12
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => practice
                                            [tf] => 12
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => starfilled starfilled starfilled
                                            [tf] => 11
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 10
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => certificate
                                            [tf] => 10
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => graded quiz30mweek
                                            [tf] => 9
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => problem
                                            [tf] => 9
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => practice exercisesweek
                                            [tf] => 8
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => honor graded
                                            [tf] => 8
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => turn breakeven
                                            [tf] => 8
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 8
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => profit
                                            [tf] => 8
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 8
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => breakeven
                                            [tf] => 8
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 8
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => data
                                            [tf] => 8
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => cost function
                                            [tf] => 7
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 7
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 7
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => learn
                                            [tf] => 7
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => allocation
                                            [tf] => 7
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => volume
                                            [tf] => 7
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => benefit
                                            [tf] => 7
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => overhead
                                            [tf] => 7
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => based
                                            [tf] => 7
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => function
                                            [tf] => 7
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => reading
                                            [tf] => 6
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => cost allocation
                                            [tf] => 6
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => volume profit
                                            [tf] => 6
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => activity based
                                            [tf] => 6
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => type
                                            [tf] => 6
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => question
                                            [tf] => 6
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => activity
                                            [tf] => 6
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => science
                                            [tf] => 6
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => cost benefit
                                            [tf] => 5
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => cloud
                                            [tf] => 5
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => conduct cost volume
                                            [tf] => 4
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => cost volume profit
                                            [tf] => 4
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => volume profit analysis
                                            [tf] => 4
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => turn estimating cost
                                            [tf] => 4
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => estimating cost function
                                            [tf] => 4
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => exercisesweek practice
                                            [tf] => 4
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => quiz30mweek graded
                                            [tf] => 4
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => turn breakeven analysi
                                            [tf] => 4
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => breakeven analysi company
                                            [tf] => 4
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => turn breakeven company
                                            [tf] => 4
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 4
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => financial aid
                                            [tf] => 4
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => cost behavior
                                            [tf] => 4
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => conduct cost
                                            [tf] => 4
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => cost volume
                                            [tf] => 4
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => profit analysis
                                            [tf] => 4
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => complete3 hour
                                            [tf] => 4
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => high low
                                            [tf] => 4
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => video total
                                            [tf] => 4
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => turn estimating
                                            [tf] => 4
                                        )

                                    [63] => stdClass Object
                                        (
                                            [term] => estimating cost
                                            [tf] => 4
                                        )

                                    [64] => stdClass Object
                                        (
                                            [term] => exercisesweek
                                            [tf] => 4
                                        )

                                    [65] => stdClass Object
                                        (
                                            [term] => honor
                                            [tf] => 4
                                        )

                                    [66] => stdClass Object
                                        (
                                            [term] => breakeven analysi
                                            [tf] => 4
                                        )

                                    [67] => stdClass Object
                                        (
                                            [term] => analysi company
                                            [tf] => 4
                                        )

                                    [68] => stdClass Object
                                        (
                                            [term] => breakeven company
                                            [tf] => 4
                                        )

                                    [69] => stdClass Object
                                        (
                                            [term] => cost benefit relevant
                                            [tf] => 3
                                        )

                                    [70] => stdClass Object
                                        (
                                            [term] => profit analysis answer
                                            [tf] => 3
                                        )

                                    [71] => stdClass Object
                                        (
                                            [term] => analysis answer question
                                            [tf] => 3
                                        )

                                    [72] => stdClass Object
                                        (
                                            [term] => answer question breaking
                                            [tf] => 3
                                        )

                                    [73] => stdClass Object
                                        (
                                            [term] => question breaking generating
                                            [tf] => 3
                                        )

                                    [74] => stdClass Object
                                        (
                                            [term] => traditional activity based
                                            [tf] => 3
                                        )

                                    [75] => stdClass Object
                                        (
                                            [term] => high low method
                                            [tf] => 3
                                        )

                                    [76] => stdClass Object
                                        (
                                            [term] => cost function scatter
                                            [tf] => 3
                                        )

                                    [77] => stdClass Object
                                        (
                                            [term] => cost function high
                                            [tf] => 3
                                        )

                                    [78] => stdClass Object
                                        (
                                            [term] => function high low
                                            [tf] => 3
                                        )

                                    [79] => stdClass Object
                                        (
                                            [term] => quiz30mweek honor
                                            [tf] => 3
                                        )

                                    [80] => stdClass Object
                                        (
                                            [term] => activity based costing
                                            [tf] => 3
                                        )

                                    [81] => stdClass Object
                                        (
                                            [term] => starfilled starfilled starby
                                            [tf] => 3
                                        )

                                    [82] => stdClass Object
                                        (
                                            [term] => lynch
                                            [tf] => 3
                                        )

                                    [83] => stdClass Object
                                        (
                                            [term] => university virginia
                                            [tf] => 3
                                        )

                                    [84] => stdClass Object
                                        (
                                            [term] => benefit relevant
                                            [tf] => 3
                                        )

                                    [85] => stdClass Object
                                        (
                                            [term] => type cost
                                            [tf] => 3
                                        )

                                    [86] => stdClass Object
                                        (
                                            [term] => analysis answer
                                            [tf] => 3
                                        )

                                    [87] => stdClass Object
                                        (
                                            [term] => answer question
                                            [tf] => 3
                                        )

                                    [88] => stdClass Object
                                        (
                                            [term] => question breaking
                                            [tf] => 3
                                        )

                                    [89] => stdClass Object
                                        (
                                            [term] => breaking generating
                                            [tf] => 3
                                        )

                                    [90] => stdClass Object
                                        (
                                            [term] => allocate overhead
                                            [tf] => 3
                                        )

                                    [91] => stdClass Object
                                        (
                                            [term] => overhead rate
                                            [tf] => 3
                                        )

                                    [92] => stdClass Object
                                        (
                                            [term] => traditional activity
                                            [tf] => 3
                                        )

                                    [93] => stdClass Object
                                        (
                                            [term] => low method
                                            [tf] => 3
                                        )

                                    [94] => stdClass Object
                                        (
                                            [term] => function scatter
                                            [tf] => 3
                                        )

                                    [95] => stdClass Object
                                        (
                                            [term] => function high
                                            [tf] => 3
                                        )

                                    [96] => stdClass Object
                                        (
                                            [term] => videosweek
                                            [tf] => 3
                                        )

                                    [97] => stdClass Object
                                        (
                                            [term] => based costing
                                            [tf] => 3
                                        )

                                    [98] => stdClass Object
                                        (
                                            [term] => starfilled starby
                                            [tf] => 3
                                        )

                                    [99] => stdClass Object
                                        (
                                            [term] => purchase certificate
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 64
                            [rank] => 464
                        )

                    [19] => stdClass Object
                        (
                            [position] => 20
                            [title] => What Is Management Accounting?
                            [url] => https://www.skynova.com/learn/accounting/management-accounting
                            [destination] => https://www.skynova.com › learn › management-accounti...
                            [isAmp] => 
                            [organic_position] => 19
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => What Is Management Accounting? - Skynova
                            [serp_description] => Management accounting is the identification, analysis, and communication of financial information for the purposes of giving business managers the ...
                            [hostname] => skynova.com
                            [h1] => What Is Management Accounting?
                            [h2] => Array
                                (
                                    [0] => What Are the Objectives of Management Accounting?
                                    [1] => What Is the Difference Between Management Accounting and Financial Accounting?
                                    [2] => What Are the Types of Managerial Accounting?
                                    [3] => What Does a Management Accountant Do?
                                    [4] => Let Skynova Help You Manage Your Small Business Bookkeeping
                                )

                            [h3] => Array
                                (
                                    [0] => Forecasting
                                    [1] => Estimating Cash Flow
                                    [2] => Business Decision-Making
                                    [3] => Variance Management
                                    [4] => Knowing the Rate of Return (ROR)
                                    [5] => Product Costing and Valuation
                                    [6] => Cash Flow Analysis
                                    [7] => Inventory Turnover Analysis
                                    [8] => Constraint Analysis
                                    [9] => Financial Leverage Metrics
                                    [10] => Accounts Receivable Management
                                    [11] => Budgeting, Trend Analysis, and Forecasting
                                    [12] => Notice to the Reader
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => What Are the Objectives of Management Accounting?
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => What Is the Difference Between Management Accounting and Financial Accounting?
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => What Are the Types of Managerial Accounting?
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => What Does a Management Accountant Do?
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => Let Skynova Help You Manage Your Small Business Bookkeeping
                                        )

                                )

                            [wordCount] => 1517
                            [imgCount] => 1
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 19
                                    [outboundSize] => 1
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => generally accepted accounting principles
                                                    [href] => https://www.investopedia.com/terms/g/gaap.asp
                                                    [hrefDomain] => investopedia.com
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Are the Objectives of Management Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Forecasting. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Estimating Cash Flow. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Business Decision-Making. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Variance Management. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Knowing the Rate of Return (ROR). 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Is the Difference Between Management Accounting and Financial Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Are the Types of Managerial Accounting?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Product Costing and Valuation. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Cash Flow Analysis. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Inventory Turnover Analysis. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Constraint Analysis. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Financial Leverage Metrics. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Accounts Receivable Management. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [6] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Budgeting, Trend Analysis, and Forecasting. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Does a Management Accountant Do?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Let Skynova Help You Manage Your Small Business Bookkeeping. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Notice to the Reader. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => What Is Management Accounting? HomeLearnAccounting What Is Management Accounting? Management accounting is the identification, analysis, and communication of financial information for the purposes of giving business managers the information they need to help their organizations reach their goals. Although this practice relies on a lot of the same data as financial accounting, it differentiates itself with its purpose. Management accounting is an internal process with the aim of helping company leadership make smart business choices. Financial accounting is used to create financial statements, which may also be shared externally.If you own a small business (or are thinking of starting one), it's important to understand the basic principles of management accounting. You can use the information this gives you to figure out how to best run your business and how to make short-term and long-term decisions (like whether you have the money needed to hire a new employee or whether a consistently late-paying client needs to be cut loose). The basis of informative and useful managerial accounting is accurate record-keeping when it comes to your company's invoices, expenses, and accounts. Skynova's accounting software can help you stay on top of this financial data, making for faster and easier management accounting. In this article, we provide greater detail about the basics of management accounting, explaining how it can contribute to your business success. What Are the Objectives of Management Accounting? You may also see management accounting referred to as cost accounting. Technically, cost accounting is a subcategory of management accounting. It focuses specifically on reporting a company's overall production costs. This involves assessing the variable and fixed costs needed at every production stage, allowing businesses to cut unnecessary expenses at the various stages (therefore increasing profitability). This is just one example of how management accounting can boost your bottom line and contribute to greater business success. Below, we outline some of the other objectives and uses of managerial accounting. Forecasting. A big part of business success lies in being able to see the future — and make smart management decisions accordingly. That doesn't mean you need a crystal ball. Management accounting helps give you a glimpse at your business's future based on foreseeable market trends and past financial data. Forecasting can then help you answer questions like whether you should diversify into other markets, invest in more equipment so you can scale up operations, or invest in another company. Estimating Cash Flow. Cash flow refers to the net amount of cash or cash-equivalent assets you have going in and out of your business. Cash flow statements allow you to prepare for ongoing and upcoming business expenses, ensuring you have the liquidity to support everyday operations. With cash flow forecasts, you can also decide how to allocate money and resources to generate revenue. Business Decision-Making. Management accounting also provides important information about production resources and costs. You can use these details to make purchasing decisions, both operational and strategic. Take the mention of cost accounting above, for example. If you determine that you are losing a lot of money in the production process to a specific supplier, you might try to find an alternative supplier to minimize costs. Variance Management. Ideally, your business will run like a well-oiled machine — consistently and without hiccups. You also want to see your business grow over time. In reality, most businesses see performance variation over time. Understanding the highs and lows — and what's behind them — can help inform overall business and specific operational decisions. You can figure out how to leverage positive variances and run risk mitigation on the negative variances. Knowing the Rate of Return (ROR). If you make an investment (for example, in property, equipment, or people) for your business, you want to know if it paid off — and thus if this is an investment worth continuing, expanding, or cutting back on. The rate of return (ROR) refers to the net gain or loss resulting from an investment over a defined time period. Knowing ROR can also be useful before making investments, providing valuable information before you start a project that might require a lot of investment. What Is the Difference Between Management Accounting and Financial Accounting? As mentioned, managerial and financial accounting practices use a lot of the same data but differ in how that data is used and for whom it's intended. Managerial accounting is exclusively for internal use. It gives managers valuable information needed to make smart business decisions that will help their organization reach its goals. Financial accounting has an external focus, creating financial documentation that can be presented to individuals outside of the organization, such as creditors or potential investors. Financial accounting in the United States must adhere to generally accepted accounting principles (GAAP). This is because financial accounting documentation may be shared externally — for example, with a company's shareholders, so they can see how other investments are doing, or with financial institutions, so they can determine whether to issue a company credit. Managerial accounting doesn't have to adhere to GAAP and can be modified to suit the company's needs. What Are the Types of Managerial Accounting? As you can see, managerial accounting can achieve various objectives. Different types of managerial accounting provide the information needed to meet those objectives. Below, we highlight the main types. Product Costing and Valuation. Product costing and valuation determine the funds needed to produce a good or service. Costs may be categorized by type, such as direct versus indirect or fixed versus variable. By identifying and measuring these costs, product costing and valuation can determine the overhead a business needs to create its goods or services. Cash Flow Analysis. As mentioned, cash flow records a business's cash inflow and outflow in a set period. A cash flow analysis is especially useful for businesses that use the accrual accounting system. With this method, revenue is recorded as soon as it's earned but not necessarily paid. So, if you invoice a client, you'd count that invoice as earned revenue (even if the client hasn't actually paid). Inventory Turnover Analysis. Inventory turnover analysis tells business managers how frequently a company has replaced or sold inventory in a set period. The "carrying cost of inventory" is a key measure. This refers to the cost a company bears for storing unsold inventory. Such data can inform decisions about how often to purchase new inventory, as well as decisions about pricing, manufacturing, and marketing. Constraint Analysis. Production or sales bottlenecks can impede business operations and negatively impact profits. Constraint analysis involves identifying such limitations. This information can be used to make changes supporting a more efficient production or sales process. Financial Leverage Metrics. Financial leverage is a term that describes a business's ability to utilize borrowed capital to obtain new assets, with the aim of increasing return on investment (ROI). Managerial accounting can determine how best to use financial leverage using data about a company's equity and debt. Accounts Receivable Management. Accounts receivable directly impact a company's bottom line. Accounts receivable invoices can be categorized according to how long they've been outstanding in order to identify clients who are possible credit risks. Routine late payments may call for risk management measures, like ending the business relationship. Budgeting, Trend Analysis, and Forecasting. Your business will likely use diverse budgets to guide its operations, such as budgets for staffing and material supplies. Managerial financial accountants can track budgets and identify performance issues that may result in a budget being over or under its target. This can inform cost-saving measures. What Does a Management Accountant Do? A managerial accounting professional will have the expertise to handle the various types of financial management accounting described above. Contact a professional with the needed competencies to crunch numbers and provide you with formal feedback on cash flow, inventory turnover, financial leverage, and the other points described above. All you need to do is give your accounting information (e.g., income statements, invoice records, and receipts detailing the cost of goods) to your managerial accountant so they can take care of the analysis. Accurately tracking your day-to-day finances will simplify this process, making it easier to give your certified management accountant (CMA) the information they need to get the job done. Skynova's accounting software makes it easy to record and track such information. Let Skynova Help You Manage Your Small Business Bookkeeping. Skynova is dedicated to demystifying small business accounting for business owners, giving them the knowledge and software they need to accurately track their finances. From accounting software to business templates, our products will help you get a handle on your business's finances. Find out how we can help today. Notice to the Reader. The content within this article is meant to serve as general information about management accounting and may not apply to your specific situation. Always consult a professional accountant to ensure you're meeting accounting standards.
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 44
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 27
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 22
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 19
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 16
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 13
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 12
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 12
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 11
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => cash
                                            [tf] => 11
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 9
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => analysi
                                            [tf] => 9
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => cash flow
                                            [tf] => 8
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 8
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => flow
                                            [tf] => 8
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 7
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => data
                                            [tf] => 7
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => investment
                                            [tf] => 7
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => inventory
                                            [tf] => 7
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => needed
                                            [tf] => 6
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => production
                                            [tf] => 6
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => invoice
                                            [tf] => 5
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => determine
                                            [tf] => 5
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => leverage
                                            [tf] => 5
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => type
                                            [tf] => 5
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 5
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => financial leverage
                                            [tf] => 4
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => software
                                            [tf] => 4
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => making
                                            [tf] => 4
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => objectif
                                            [tf] => 4
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => example
                                            [tf] => 4
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => businesss
                                            [tf] => 4
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => operation
                                            [tf] => 4
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 4
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => budget
                                            [tf] => 4
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => accounting management accounting
                                            [tf] => 3
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => product costing valuation
                                            [tf] => 3
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => accounting management
                                            [tf] => 3
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => small business
                                            [tf] => 3
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => accounting software
                                            [tf] => 3
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => business success
                                            [tf] => 3
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => cost accounting
                                            [tf] => 3
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => product costing
                                            [tf] => 3
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => costing valuation
                                            [tf] => 3
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => inventory turnover
                                            [tf] => 3
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => account receivable
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 42
                            [rank] => 1154705
                        )

                    [20] => stdClass Object
                        (
                            [position] => 21
                            [title] => Top Management Accounting Courses Online - Updated [January 2022] | Udemy
                            [url] => https://www.udemy.com/topic/management-accounting/
                            [destination] => https://www.udemy.com › topic › management-account...
                            [description] => Learn Management Accounting today: find your Management Accounting online course on Udemy
                            [isAmp] => 
                            [organic_position] => 20
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Top Management Accounting Courses Online - Udemy
                            [serp_description] => Learn Management Accounting today: find your Management Accounting online course on Udemy.
                            [hostname] => udemy.com
                            [canonical] => https://www.udemy.com/topic/management-accounting/
                            [h1] => Management Accounting Courses
                            [h2] => Array
                                (
                                    [0] => All Management Accounting courses
                                    [1] => Not sure? All courses have a 30-day money-back guarantee
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => All Management Accounting courses
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Not sure? All courses have a 30-day money-back guarantee
                                        )

                                )

                            [type] => video_lecture
                            [wordCount] => 24
                            [imgCount] => 1
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 1
                                    [outboundSize] => 0
                                    [list] => Array
                                        (
                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => All Management Accounting courses. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Not sure? All courses have a 30-day money-back guarantee. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://s.udemycdn.com/meta/default-meta-image-v2.png
                                    [twitterImage] => https://s.udemycdn.com/meta/default-meta-image-v2.png
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management Accounting Courses310,973 learnersAll Management Accounting courses. information alertNot sure? All courses have a 30-day money-back guarantee.
                            [kwBody] => Array
                                (
                                )

                            [page_rank_decimal] => 65
                            [rank] => 419
                        )

                    [21] => stdClass Object
                        (
                            [position] => 22
                            [title] => Management Accounting - Helping Accountants Grow the Beans
                            [url] => https://planful.com/blog/management-accounting-helping-accountants-grow-the-beans/
                            [destination] => https://planful.com › Blog
                            [description] => Contrary to beliefs that the only purpose of managerial accounting is to collect, validate, transform and report data, its primary purpose is first and foremost ...
                            [isAmp] => 
                            [organic_position] => 21
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accounting - Helping Accountants Grow the Beans
                            [serp_description] => Contrary to beliefs that the only purpose of managerial accounting is to collect, validate, transform and report data, its primary purpose is first and foremost ...
                        )

                    [22] => stdClass Object
                        (
                            [position] => 23
                            [title] => Management Accounting: Chapter 1
                            [url] => https://maaw.info/Chapter1.htm
                            [destination] => https://maaw.info › Chapter1
                            [description] => Chapter 1 of Management Accounting: Concepts, Techniques, and Controversial Issues
                            [isAmp] => 
                            [organic_position] => 22
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Chapter 1 - Management And Accounting Web
                            [serp_description] => Management Accounting: Concepts, Techniques & Controversial Issues Chapter 1. Introduction to Managerial Accounting, Cost Accounting and Cost Management Systems.
                            [hostname] => maaw.info
                            [h1] => Management Accounting: Concepts, Techniques & Controversial Issues Chapter 1Introduction to Managerial Accounting, Cost Accounting and Cost Management Systems
                            [h2] => Array
                                (
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                )

                            [wordCount] => 11825
                            [imgCount] => 8
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 136
                                    [outboundSize] => 27
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => Extra MC Questions
                                                    [href] => MAAWsExtraMCQuestions/Chapter1ExtraMCQuestions.htm
                                                    [hrefDomain] => chapter1extramcquestions.htm
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => Deming's New Economics
                                                    [href] => ArticleSummaries/ArtSumDeming93.htm
                                                    [hrefDomain] => artsumdeming93.htm
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => Hayes & Abernathy
                                                    [href] => ArticleSummaries/ArtSumHayesAbernathy80and07.htm
                                                    [hrefDomain] => artsumhayesabernathy80and07.htm
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => Imanet cma-certification?
                                                    [href] => https://www.imanet.org/cma-certification?ssopc=1
                                                    [hrefDomain] => imanet.org
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumJohnson83.htm
                                                    [hrefDomain] => artsumjohnson83.htm
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => JSTOR link
                                                    [href] => http://links.jstor.org/sici?sici=0001-4826%28194710%2922%3A4%3C385%3AHDOCA%3E2.0.CO%3B2-8
                                                    [hrefDomain] => jstor.org
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => JSTOR link
                                                    [href] => http://links.jstor.org/sici?sici=0001-4826%28196607%2941%3A3%3C443%3AAMOP%3E2.0.CO%3B2-7
                                                    [hrefDomain] => jstor.org
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => Definition
                                                    [href] => ArticleSummaries/ArtSumDefinitionOfManagementAcc.htm
                                                    [hrefDomain] => artsumdefinitionofmanagementacc.htm
                                                    [isOutbound] => 1
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [text] => JSTOR link
                                                    [href] => http://links.jstor.org/sici?sici=0001-4826%28196210%2937%3A4%3C769%3AWIA%3E2.0.CO%3B2-3
                                                    [hrefDomain] => jstor.org
                                                    [isOutbound] => 1
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumJohnson89.htm
                                                    [hrefDomain] => artsumjohnson89.htm
                                                    [isOutbound] => 1
                                                )

                                            [10] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumRelRegain92.htm
                                                    [hrefDomain] => artsumrelregain92.htm
                                                    [isOutbound] => 1
                                                )

                                            [11] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumDeming93.htm
                                                    [hrefDomain] => artsumdeming93.htm
                                                    [isOutbound] => 1
                                                )

                                            [12] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumJohnsonMaruyama1981.htm
                                                    [hrefDomain] => artsumjohnsonmaruyama1981.htm
                                                    [isOutbound] => 1
                                                )

                                            [13] => stdClass Object
                                                (
                                                    [text] => Cooper 2000
                                                    [href] => ArticleSummaries/ArtSumCooper2000.htm
                                                    [hrefDomain] => artsumcooper2000.htm
                                                    [isOutbound] => 1
                                                )

                                            [14] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumYoshida89.htm
                                                    [hrefDomain] => artsumyoshida89.htm
                                                    [isOutbound] => 1
                                                )

                                            [15] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumMcgregor57.htm
                                                    [hrefDomain] => artsummcgregor57.htm
                                                    [isOutbound] => 1
                                                )

                                            [16] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumTakeuchi81.htm
                                                    [hrefDomain] => artsumtakeuchi81.htm
                                                    [isOutbound] => 1
                                                )

                                            [17] => stdClass Object
                                                (
                                                    [text] => Hayes and Abernathy
                                                    [href] => ArticleSummaries/ArtSumHayesAbernathy80and07.htm
                                                    [hrefDomain] => artsumhayesabernathy80and07.htm
                                                    [isOutbound] => 1
                                                )

                                            [18] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumOser1963Chapters9-11.htm
                                                    [hrefDomain] => artsumoser1963chapters9-11.htm
                                                    [isOutbound] => 1
                                                )

                                            [19] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumOuchiJaeger78.htm
                                                    [hrefDomain] => artsumouchijaeger78.htm
                                                    [isOutbound] => 1
                                                )

                                            [20] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumBrauschWhitney2010.htm
                                                    [hrefDomain] => artsumbrauschwhitney2010.htm
                                                    [isOutbound] => 1
                                                )

                                            [21] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumVanZante2010.htm
                                                    [hrefDomain] => artsumvanzante2010.htm
                                                    [isOutbound] => 1
                                                )

                                            [22] => stdClass Object
                                                (
                                                    [text] => Note
                                                    [href] => ArticleSummaries/ArtSumKrippelMitchell2011.htm
                                                    [hrefDomain] => artsumkrippelmitchell2011.htm
                                                    [isOutbound] => 1
                                                )

                                            [23] => stdClass Object
                                                (
                                                    [text] => Summary
                                                    [href] => ArticleSummaries/ArtSumSalarySurvey2011.htm
                                                    [hrefDomain] => artsumsalarysurvey2011.htm
                                                    [isOutbound] => 1
                                                )

                                            [24] => stdClass Object
                                                (
                                                    [text] => Gordon & Loeb
                                                    [href] => ArticleSummaries/ArtSumGordonLoeb01.htm
                                                    [hrefDomain] => artsumgordonloeb01.htm
                                                    [isOutbound] => 1
                                                )

                                            [25] => stdClass Object
                                                (
                                                    [text] => Handy summary
                                                    [href] => ArticleSummaries/ArtSumHandy2002.htm
                                                    [hrefDomain] => artsumhandy2002.htm
                                                    [isOutbound] => 1
                                                )

                                            [26] => stdClass Object
                                                (
                                                    [text] => Extra MC Questions
                                                    [href] => MAAWsExtraMCQuestions/Chapter1ExtraMCQuestions.htm
                                                    [hrefDomain] => chapter1extramcquestions.htm
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management Accounting: Concepts, Techniques & Controversial Issues Chapter 1Introduction to Managerial Accounting, Cost Accounting and Cost Management Systems James R. Martin, Ph.D., CMA Professor Emeritus, University of South Florida MAAW's Textbook Table of Contents Chapter Contents Learning Objectives Introduction Conceptual versus Operational Definitions The Accounting Discipline Systems, Performance Measurement, Behavior & Variability The Matching Concept and Cost Accounting Cost Behavior and Prediction Framework: Two Global Variants of Capitalism Appendix 1-1: The Certified Management Accountant Footnotes Questions Problems Problem Solutions Extra MC Questions LEARNING OBJECTIVES After you have read and studied this chapter, you should be able to: 1. Explain the difference between conceptual definitions and operational definitions. 2. Provide conceptual definitions for public accounting, management accounting and governmental accounting. 3. Discuss the various components of management accounting and relate them to the focus of this textbook. 4. Explain the importance of recognizing the interactive relationships between systems, performance measurements, human behavior and variability. 5. Discuss the concept of control. 6. Discuss the relationship between the matching concept and cost accounting. 7. Provide conceptual definitions for some basic cost terms such as manufacturing costs, selling and administrative costs, variable costs, fixed costs and mixed costs. 8. Discuss two global variants of capitalism in terms of the major concepts and assumptions underlying the economic system. 9. Explain how the major business concepts, attitudes and practices differ for the two global variants of capitalism discussed in learning objective 8. 10. Discuss why the two global variants of capitalism provide an important underlying framework for the study of management accounting and related management concepts. INTRODUCTION Although bookkeeping can be traced back to the thirteenth century, accounting historians place the origin of management accounting around 1812. Around this time, textile mills began to perform many processes inside the organization that had previously been performed outside the company by independent craftsmen.1 This internalization of processes such as spinning, weaving and assembly created a need for determining the cost of performing these activities inside the company. From this modest beginning, management accounting has evolved into a dynamic and extremely important, although controversial part of business and economics. As a result, this discipline provides a great many opportunities for students who seek careers in accounting and other areas of management. The purpose of this book is to help you develop an understanding of the concepts, techniques and controversial issues associated with what most accountants refer to as cost and managerial accounting. Although your initial perception of this course may be somewhat different, this is a very broad discipline with rich conceptual linkages to economics, finance, statistics, production management, management science, marketing and engineering. If you pursue it diligently, this course of study will become an invaluable experience regardless of your particular career path. The purpose of this chapter is to introduce the concepts that provide a foundation for our excursion into the domain of cost and managerial accounting. More specifically, the objectives are to: 1) discuss the difference between conceptual definitions and operational definitions, 2) provide conceptual definitions for the three broad specialty areas of accounting including public accounting, management accounting and governmental accounting, 3) outline the components of management accounting to identify the focus and scope of this book, 4) discuss the interactive relationships between systems, variability, performance measurements and human behavior, 5) define and discuss the concept of control, 6) present some basic terminology, and 7) introduce an underlying framework for the study of management accounting concepts and techniques. CONCEPTUAL VERSUS OPERATIONAL DEFINITIONS Before proceeding to the various definitions presented below, it is useful to consider two types of definitions: 1) conceptual definitions and 2) operational definitions2. Conceptual definitions are those typically found in a dictionary and usually represent generalizations. On the other hand, operational definitions are very specific. Operational definitions contain sufficient clarity so that they cannot be misinterpreted. Therefore, conceptual definitions and operational definitions are on opposite ends of a continuum. For example, a conceptual definition of clean is "free from dirt." We might say, the carpet is clean after vacuuming and a visual inspection. But suppose we are talking about cleaning the instruments needed for brain surgery. Then we will need an operational definition. Another more relevant example in the area of accounting is the term "net income". Conceptually, net income is defined as the difference between revenues and expenses, but this is just a generalization. Net income has no operational meaning until we know precisely how revenues and expenses are measured3. In fact, one accounting researcher calculated that there were over thirty million ways to calculate net income based on the number of combinations of generally acceptable accounting alternatives (Chambers, 19664). This distinction between conceptual definitions and operational definitions will help us avoid some confusion while we are building an understanding of the discipline. The definitions presented in this chapter are conceptual definitions. However, as we move through this textbook, we will use these concepts to define and integrate the components of accounting more specifically. In other words, the conceptual definitions in this chapter provide a foundation for building operational definitions in later chapters. THE ACCOUNTING DISCIPLINE Accounting is made up of several specialty areas that might be defined in a variety of ways. Generally, there are three broad areas of accounting that include public accounting, governmental accounting and management accounting. These specialty areas are illustrated in Exhibit 1-1 and discussed individually below. PUBLIC ACCOUNTING Public accounting, although the most familiar area of accounting to the general public, is a relatively narrow part of accounting that places major emphasis on auditing general purpose financial statements, i.e., income statements, balance sheets, and cash statements. Certified public accountants (CPA's) also provide tax and other types of advisory services to their clients, but this is still rather narrow when compared to the whole range of activities performed in the accounting discipline. Although important, public accounting is outside the scope of this textbook. GOVERNMENTAL ACCOUNTING Governmental accounting is non-accrual accounting5 used to account for governmental agencies, and nonprofit seeking organizations such as state universities. It is completely different from the material studied in financial and managerial accounting courses and is also outside the scope of this textbook. MANAGEMENT ACCOUNTING Management accounting is the broadest area of accounting and includes tax accounting, financial accounting, managerial accounting and internal auditing.6 Each of these areas is discussed below and illustrated in Exhibit 1-1. Management accounting is expanded in Exhibit 1-2 to include cost accounting, cost management, activity management and investment management. The concept definitions and relationships between these branches of management accounting are also discussed below. The CMA designation that appears in the exhibits represents "certified management accountant". The requirements for obtaining this professional credential are outlined in an appendix to this chapter. Tax and Financial Accounting Tax accounting and financial accounting both involve generating financial reports for external users, although the two reports may be very different. Tax returns are required for reporting to the Internal Revenue Service (IRS) and must conform to a specific set of rules. Financial accounting, on the other hand, involves preparing general purpose financial statements for stockholders and creditors. In addition, a family of K-statements (e.g., 8K, 10K) are prepared for the Securities and Exchange Commission (SEC). Financial accounting statements must conform to generally accepted accounting principles (GAAP). This requirement causes external financial statements to be of limited usefulness for internal purposes. The previous statement is not meant to be a criticism of external financial statements, but merely to recognize that different audiences (e.g., stockholders, creditors, plant managers) need different types of information. Internal statement users tend to need more timely, less aggregated information than external statement users. The specific requirements of GAAP and the SEC are outside the scope of this textbook. Internal Auditing Internal auditing is an area of accounting that is mainly concerned with the organization's internal control system. Internal auditors may examine, or audit, all of the organization's accounting and management systems. Although internal auditing is an important area in accounting, it is also beyond the scope of this text. Managerial Accounting Managerial accounting and the connecting branches highlighted in Exhibit 1-2 provide the focus of this textbook. As indicated in the exhibit, managerial accounting is linked to cost accounting, cost management, activity management and investment management. Managerial accounting involves generating information for internal users including all levels of management and others within the organization. Some of the same information is reported that appears in the external financial statements, but frequently the information provided to internal users is in more detail, provided more often, and in many different forms depending on how the information is to be used. A key difference between financial accounting and managerial accounting is that managerial accounting reports are not directly constrained by GAAP. Cost Accounting Cost accounting is linked to tax accounting, financial accounting and managerial accounting in Exhibit 1-2 because it is an important component of each discipline. Why? Because cost accounting involves determining the cost of something, such as a product, a service, an activity, a project, or some other cost object. These costs are needed for several purposes. For example, the costs of products and services produced and sold are needed for both tax and external financial statements. In other words, tax and financial accounting depend on cost accounting to provide cost information. Information about costs is also needed for a variety of management decisions. For example, cost estimates are needed to determine whether or not a product or service can be produced and sold at a profit. Unit costs of a product (or service) are also needed for product pricing and product discontinuance decisions. In addition, accurate cost information is required to determine whether or not a company should make (produce) or buy the raw materials, parts and subassemblies that become part of its major products and services. From this perspective, cost accounting is perhaps underrated as a discipline since none of the other disciplines including tax accounting, financial accounting or managerial accounting could exist without cost accounting. Cost Accounting’s Changing Emphasis Prior to 1950, cost accounting courses emphasized generating cost information for tax and financial accounting purposes. These courses had a fairly narrow orientation towards inventory valuation for external reporting. However, in 1950 a textbook by William Vatter placed more emphasis on the internal user of accounting information, rather than the external user.7 After 1960, most cost accounting textbooks had a distinctive managerial decision orientation. Vatter’s work was definitely a turning point. Two other very influential books, although they are not textbooks, were published in 1987 and 1988. These works include Relevance Lost: The Rise and Fall of Management Accounting by H. Thomas Johnson and Robert S. Kaplan and Cost Management for Today’s Advanced Manufacturing edited by Callie Berliner and James A. Brimson.8 These two books represent another turning point for management accounting. Both publications sharply criticize traditional accounting and propose substantial changes in internal accounting systems. These important publications introduced the concepts of cost management, activity management and investment management that have become important components of management accounting. Cost Management Cost management is a term that has been popularized by CAM-I (Consortium of Advanced Management - International).9 Cost management is said to be a more comprehensive concept than cost accounting in that the emphasis is on managing and reducing costs rather than reporting costs.10 In other words, it is a long run proactive approach rather than a short run reactive approach. For example, a great deal of attention is given to reducing costs at the design stage of a product's life cycle rather than simply attempting to measure and control cost during the production stage. James Brimson, who originally served as CAM-I's Cost Management Systems (CMS) project director, defines cost management as, "the management and control of activities to determine an accurate product cost, improve business processes, eliminate waste, identify cost drivers, plan operations, and set business strategies.11 Based on Brimson's definition, the concept of activity management is part of the cost management discipline originally defined by CAM-I, although the term cost management might be interpreted differently as indicated below. Activity Management Activity management, or activity based management, places emphasis on continuously improving the activities and tasks, or work that people perform in an organization. The main idea is to find and eliminate waste. Conceptually, activity management is somewhat different from cost management in that it focuses on the waste itself, not the cost of waste.12 It is a process oriented approach rather than an accounting results oriented approach. Activity management also has a long run, rather than a short run emphasis. Although activity management is part of the cost management system (CMS) advocated by CAM-I, it is important to make a distinction between managing costs (accounting results) and managing activities (processes or work). This distinction is important because placing too much emphasis on costs (or any other short run results oriented measurement) may cause managers to make decisions that reduce costs, but are not in the best interest of the organization's long run performance and competitiveness. A few examples include a manager's decision to reduce research and development, employee training, and preventive maintenance just to improve short term accounting results. This conceptual distinction provides the reason cost management and activity management are presented as separate concepts in Exhibit 1-2. Investment Management Investment management involves the planning and decision process for the acquisition and utilization of an organization's resources, including human resources as well as technology, equipment and facilities. The concept of investment management includes the capital budgeting discounted cash flow methods traditionally studied in accounting and finance courses, but is more comprehensive in that the organization's portfolio of interrelated investments is considered as well as the projected effects of not investing. Investment management is more of a holistic concept than capital budgeting in that it considers the effects of an investment decision on the entire organization rather than simply the local areas such as individual departments or individual divisions where the investments are made. SYSTEMS, PERFORMANCE MEASUREMENT, BEHAVIOR AND VARIABILITY A system has been defined as "a group of interacting, interrelated, or interdependent elements forming or regarded as forming a collective entity".13 A performance measurement system is part of an overall system, (i.e., it is a subsystem) because it not only measures performance within the system, but simultaneously affects performance within the system. Performance measurements are interacting, interrelated or interdependent elements within the system. THE DUAL PURPOSE OF ACCOUNTING MEASUREMENTS The realization that accounting is part of the system helps one understand why accounting measurements must have a dual purpose that includes influencing behavior14, or performance, as well as measuring performance. Management accounting is a powerful method of influencing behavior because, in many organizations, much of the information that is used to evaluate performance is generated by the management accounting systems briefly described in the preceding sections. The manner in which segments of a company (departments, plants, divisions, product lines, managers, and workers) are evaluated has a very strong influence on behavior. Thus, it is important for those who develop and use performance measurement systems (or subsystems) to understand the overall system and the interactive nature of the company’s performance measurements. It is also important that developers and users of performance measurement systems understand the concept of variability and the tools of measuring variation within a system. THE CONCEPT OF VARIABILITY Walter A. Shewhart, and more recently W. Edwards Deming, explain that there are two types of variation within a system.15 These include variation that results from common causes and variation that results from special causes. Variation that results from common causes is attributed to the faults or randomness of the system, while variation caused by special causes might be attributed to a particular worker, group of workers, a specific machine, or some local condition. Deming estimated that ninety-four percent of the variation within a system is attributable to common causes, i.e., problems caused by the system itself, although most of the blame is placed on the people working in the system. THE CONCEPT OF CONTROL Control relates to the concept of variability briefly discussed in the section above. An understanding of the concept of control requires the realization that there will always be variation in any cost or process measurement. Generally, control refers to influence over an outcome and involves an evaluation to determine if the object to be controlled, such as a cost, or process measurement, is inside or outside an acceptable range, i.e., whether it is considered to be "in control", or "out of control". A cost (or process measurement such as a quantity of input) that is outside the acceptable range, is viewed as potentially out of control. This condition may require an investigation to determine the cause of the problem. Then, if the cause can be determined, some action may be taken to correct the situation. The control procedure is the basis for management by exception which is a key concept in the business world. Control Charts The acceptable range referred to above may be established intuitively, (not recommended) or by using a tool referred to as a statistical control chart. Although intuition is not a reliable way to establish control limits, the statistical control chart is based on the work of Shewhart and the concepts of common (or random) causes and special (or assignable) causes. Observations that are plotted within the statistical control limits on the chart are attributed to common causes, i.e., variation caused by the system, while observations that are plotted outside the control limits are attributed to special causes that may need to be investigated. Further discussion of the control concept is provided in subsequent chapters. THE MATCHING CONCEPT AND COST ACCOUNTING The costs associated with a manufacturing firm are separated into two broad categories. These include manufacturing costs and selling and administrative costs. This functional separation is important because each category of cost is treated differently in the accounting records. The different treatments are required to obtain proper matching. Manufacturing Costs There are three types of manufacturing costs. These include: 1) direct material or raw material, 2) direct labor, and 3) indirect manufacturing costs, or factory overhead. Direct material becomes the product, or becomes a part of the product. Direct labor converts the direct material into a finished product. Factory overhead represents all the other factory costs that cannot be directly identified with a particular product. This indirect category includes a variety of costs that are discussed in more detail in subsequent chapters. These three types of costs are also referred to as product costs, or inventoriable costs, because they are capitalized in (or charged to) the inventory, i.e., they become assets. Matching Accountants capitalize manufacturing costs to obtain proper matching. The matching concept is pervasive in accrual accounting and requires that costs and benefits are matched or brought together on the income statement. In a production setting, the idea is to match the costs of producing a product (or service) against the benefits, i.e., revenue derived from the sale. When the inventory is sold, these costs are charged to an expense account referred to as cost of goods sold. At the end of the accounting period, cost of goods sold is closed to the income summary where, theoretically, matching takes place. Remember that unexpired costs represent assets. Expired costs represent expenses. When the inventory is sold, we say these costs have expired, i.e., the benefits to be obtained (from the effort that generated the costs) have been recognized. Thus, manufacturing costs become expenses when they reach cost of goods sold, but represent assets until the sale takes place. Selling and Administrative Costs In traditional accounting systems16, selling and administrative costs are expensed in the period in which they are incurred. Theoretically, if there are future benefits associated with a cost, the cost should be capitalized as an asset rather than expensed. Certainly there are some future benefits associated with costs such as research and development, training, market promotion and advertising. However, these costs are expensed as incurred because it is difficult if not impossible to relate them to the future benefits. As a result, these costs are referred to as period costs. COST BEHAVIOR AND PREDICTION In addition to separating costs into categories such as direct and indirect and manufacturing and non-manufacturing, costs are also frequently identified by their behavior in relation to changes in an activity level. This separation is helpful for planning and budgeting purposes. The major types of costs, in terms of cost behavior, are: 1) variable costs, and 2) fixed costs, 3) semi-variable costs and 4) semi-fixed costs. These concepts are illustrated graphically in Exhibit 1-3 and discussed individually below. Variable Costs Variable costs are those costs that vary with changes in the level of activity. Variable costs tend to increase at various rates that generate linear (straight line) or a variety of non-linear cost functions when the costs are plotted on a graph. Some examples are illustrated in the top left panel of Exhibit 1-3.17 The major activity that affects manufacturing costs is production volume, i.e., producing output. Production volume is frequently measured in terms of units produced, direct labor hours used, machine hours used, materials costs or some other production volume related measure. However, other activities that are not related to production volume might also be important in analyzing cost behavior. The recognition that non-production volume related activities also cause, or drive costs is a fundamental idea associated with activity based costing (ABC). ABC is introduced in the next chapter in connection with the various components of a cost accounting system and discussed in more detail in Chapter 7. Fixed Costs Fixed costs are defined as those costs that do not vary with changes in the activity level. Some horizontal cost functions are presented in the top right panel of Exhibit 1-3 to illustrate the idea. However, this does not mean that fixed costs remain constant. If a production volume based measure is used as the activity, a cost that changes for some reason other than a change in production activity is considered fixed. This simply means that the cost is driven by a non-production volume related phenomenon. For example, property taxes are considered fixed in traditional cost accounting systems that are typically based on production volume related activities. However, property taxes change when the taxing authority changes the tax rate or reassesses the property. The idea to grasp is that the designation of a particular cost as fixed or variable can change when it is analyzed in relation to a different activity. It is also important to understand that the notion of fixed and variable costs is a short run concept. All costs tend to be variable in the long run. Semi-Variable and Semi-Fixed Costs Semi-variable costs are part fixed and part variable. There is a minimum cost (the fixed portion) and a variable portion that increases as activity increases. Some examples of these mixed costs appear in the lower left panel of Exhibit 1-3.The point where the cost function intersects the vertical axis represents the fixed portion of the cost. There are also semi-fixed costs that do not change continuously as the level of activity changes, but do increase in steps as activity increases beyond various levels. These costs are sometimes referred to as step cost and step functions. For example, a single production supervisor (who's salary normally represents a fixed cost) might be adequate until production reaches a certain level, then a second supervisor would need to be hired. Supervisory costs might be driven by the number of production shifts. Step functions can take on many forms as illustrated in the lower right panel of Exhibit 1-3. Cost Behavior Techniques There are a variety of techniques for analyzing cost behavior. Some of the methods for estimating linear cost functions are discussed and illustrated in Chapter 3. More descriptive discussions of the various types of cost behavior are provided in Chapter 11. FRAMEWORK: TWO GLOBAL VARIANTS OF CAPITALISM Before we proceed any further into the domain of management accounting, it is important to consider the global environment in which firms now compete. In two fairly recent books, George Lodge and Lester Thurow provide a structure for understanding the global economy.18 According to these authors, there are two very different variants of capitalism. One familiar variant is the system traditionally practiced in the United States. This is referred to as individualistic capitalism. The other variant is the system practiced in Japan and in the unified European community. This system is referred to as communitarian capitalism. These two variants of capitalism are important because most of the assumptions and practices underlying the individualistic system are incompatible with the assumptions and practices underlying the communitarian system. The particular variant of capitalism embraced by society, determines to a large extent how individuals interact with each other, how businesses interact with other businesses and government, how companies are managed and more specifically for the purposes of this text, how internal accounting systems are designed and used to measure and evaluate performance. As a result, the dichotomy of capitalism provides a broad framework for the study of management and management accounting. This framework is discussed below and referred to frequently in subsequent chapters. UNDERLYING CONCEPTS, CHARACTERISTICS AND ASSUMPTIONS According to George Lodge, most countries display a mix of individualism and communitarianism. However, the United States has tended to be the most individualistic and Japan has tended to be the most communitarian. Other nations are somewhere between the two extremes.19 A brief sketch of the key economic concepts, characteristics and assumptions underlying the two conflicting competitive models is provided in Exhibit 1-4. These include: 1) how to optimize the performance of a system, 2) the key driving force in the economy, 3) the motivation for work, 4) the responsibility for training prior to employment, 5) the relationship between government and business, and 6) the purpose of government policy. How to Optimize the Performance of a System Perhaps the most important philosophical difference between the two variants of capitalism is the assumption concerning how to optimize the performance of a system. In the communitarian model, a system can be optimized only when cooperation exists at all levels within the system. There must be cooperation between individuals, departments and functional areas within a company, union and company, companies, industry groups and business and government. The source of this philosophy is not entirely clear, but it was promoted by W. Edwards Deming for at least forty years before his death in 1993 and practiced in Japan since 1950.20 The assumption underlying the individualistic model is that competition at all levels will lead to optimizing the performance of a system. The source of this philosophy is easily traced to the classical school of economics founded by Adam Smith. Smith wrote that an "invisible hand" leads individuals to unintentionally promote the good of society while seeking their own self interest.21 Although the classical economists were concerned mainly with the macroeconomic system, their views spilled over into microeconomic theory and business practices. For example, the neoclassical micro economists, who followed Smith, supported individualism and a "laissez faire", or free enterprise market. To both classical and neoclassical economists, a free market was self regulating and produced the maximum social benefits. Similar ideas can be found at the practice level in the works of Frederick W. Taylor and the scientific management movement where individual specialization and performance were emphasized to the extreme. To summarize the key concepts, success in a communitarian system is believed to come from the collective efforts, or teamwork of all members of the system, while success in an individualistic system is believed to come from the efforts of individuals seeking their own self interest. In an individualistic system, optimizing the parts is assumed to optimize the whole. However, the assumption in a communitarian system is that optimizing the parts will automatically produce sub-optimization of the whole because of the interdependences among individuals and groups within the system.22 The Key Driving Force in the Economy The driving force in the economy, according to the communitarian viewpoint, is the desire for long term growth and improvement of the system. On the other hand, the driving force in an individualistic system is the individual's desire for consumption and leisure in the present. These driving forces influence the goals and behavior of organizations and governmental units as well as individuals within the system. For example, during the five year period from 1985 to 1989, Japanese investment, as a percentage of its gross national product (GNP) was over twice that of the United States, i.e., 35.6% compared with 17%.23 The Motivation for Work or Work Ethic The communitarian model includes the assumption that work itself provides intrinsic motivation and that being part of a winning team provides considerable rewards and satisfaction. People mainly live to contribute, to accomplish, to create and to gain respect from others for their efforts. Consumption and leisure are less important considerations for the individual.24 However, the individualistic system is based on the assumption that people are motivated to work mainly to increase consumption and leisure and to avoid unemployment. This hedonistic attitude can also be traced back to the neoclassical economists (or marginalist) who assumed that workers would attempt to maximize pleasure and minimize pain. This idea translates into maximizing the utility obtained from consumption and minimizing the disutility associated with work. Although the lack of work ethic associated with American workers has been challenged by behavioral scientist for a number of years, the structure of most American organizations (discussed below) has reflected this "lazy man" view until recently.25 The Responsibility for Training Prior to Employment In a communitarian system, skills and training prior to employment are primarily viewed as the responsibility of society. For example, strong high schools with very low drop out rates of six or seven percent are typical in Japan and West Germany.26 Government and business supported apprenticeship programs are used to insure that the less capable high school students (academically) become functional members of society. In contrast, public schools are relatively weak in an individualistic system. For example, in the U.S., the high-school drop out rate is around twenty-nine percent and apprenticeship programs are much less common27. Although colleges are relatively strong in the American individualistic system, many non-college bound students (the "neglected majority") do not receive a marketable education.28 Although a discussion of the reasons for these differences is not within the scope of this textbook, the skill levels of individuals entering the workforce is an important determinant of competitiveness for the organizations who rely upon their skills. It is also important for any organization contemplating a change from an individualistic to a team oriented system. Relationship between Government and Business In the communitarian system, government works to support business and to promote cooperation between businesses and industry groups within the system. Government is responsible for a strong infrastructure including education, communication and transportation systems. Government in an individualistic system also recognizes the need for a strong infrastructure, but the classical view of government is still present in individualistic systems. To the classical economists, the best government was the government that governed least.29 Purpose of Government Policy In a communitarian system such as Japan, government policy is designed to increase investment and savings (through tight credit controls) to generate long term growth in supply. However, in an individualistic system such as the United States, government policy is designed to promote as much competition as possible. Cooperation is viewed as detrimental to the economy because it leads to monopoly power. Thus, cooperation between companies and industry groups is to a large extent illegal in the American individualistic system. U.S. government policy is also used to promote growth in demand through easy credit, as opposed to promoting substantive growth and improvement in the infrastructure.30 MAJOR BUSINESS CONCEPTS, ATTITUDES AND PRACTICES Exhibit 1-5 provides a summary comparison of twelve major business concepts, attitudes and practices underlying the two competitive models. These include: 1) the organization’s dominant objective and focus, 2) organizational structure, 3) how profits are used, 4) the hierarchy of the organization’s constituencies, 5) employment and job security, 6) responsibility for training after employment, 7) the route to management, 8) management’s attitude towards teamwork, 9) management’s behavior in an economic recession, 10) management’s view of leadership, 11) management’s attitude towards problems and 12) the tools of management. Dominant Objective and Focus The primary business objective in a communitarian system is the long term growth and improvement of the organization. Thurow refers to this idea as "strategic conquest". Profitability is secondary and viewed mainly as a requirement for future growth. Individualistic organizations, on the other hand, tend to emphasize short run profitability as the dominant objective. In a survey of U.S. and Japanese companies, (227 U.S. and 291 Japanese) U.S. executives ranked a measure of profitability first, stock price second and market share third, while the Japanese executives ranked market share first, profitability second and new products third.31 Although this survey was conducted during 1980, American executives still appeared to be emphasizing short term objectives ten years later. In a 1990 world competitiveness report, U.S. firms were ranked next to last out of twenty-three industrial countries in terms of future orientation. The Japanese were ranked number one.32 Organizational Structure Communitarian organizations tend to emphasize a concept referred to as employee empowerment where self regulated teams make consensus decisions at the work level. These so-called bottom-up organizations tend to be horizontal, flat or lean in that there are relatively few layers of management. In contrast, individualistic organizations tend to be structured vertically in a top down manner with a hierarchy of management layers. Specialized jobs involving a few simple repetitive tasks are designed at the work level using the concepts of scientific management. Even so, the individualistic system includes a relatively large number of supervisory positions to compensate for the "lazy man" work ethic mentioned above. For example, a study comparing the cost of producing Ford Escorts in different countries indicated that forty percent of the Japanese cost advantage resulted from lower white-collar costs in the Japanese organizations.33 How Profits Are Used In an organization structured around the communitarian philosophy, profits are used mainly to build for the future. This follows naturally from the "strategic conquest" objective mentioned above. However, the individualistic enterprise mainly uses profits to enhance the consumption of stockholders. These ideas are supported by a comparison of dividend payout ratios. In 1990, dividends accounted for only thirty percent of after tax profits for Japanese companies while U.S. companies distributed eighty-two percent.34 Hierarchy of Organization’s Constituencies From the communitarian viewpoint, employees are the most important key to global competitiveness, customers are second, shareholders are third and suppliers are fourth. The idea is that if the company’s employees are not satisfied, this dissatisfaction will affect the quality of their work and their relationships with customers. Employees, customers, and suppliers work together as a family to achieve a common goal. All constituencies along the value chain are important as well as the company’s stockholders. In individualistic organizations, on the other hand, the organization’s top three constituencies are reversed. Stockholders are viewed as the most important group, customers are second and employees are a distant third. Employees are treated more as a factor of production like buildings and equipment to be acquired and disposed of as needed. Suppliers likewise are expendable and must compete with each other for the company’s business. The four constituencies are definitely not part of the same family.35 Employment and Job Security The position of employees in the hierarchy discussed above is clearly reflected by an organization’s employment policies. Communitarian firms tend to provide lifetime employment, promote from within the organization and emphasize job enrichment. Companies in an individualistic system do not provide a comparable level of job security. Labor turnover rates in the U.S. and Japan provide considerable support for this statement. The Japanese labor turnover rate is around 3.5% per year. In contrast, the U.S. labor turnover rate is around 4% per month.36 The Japanese, according to one observer, view the employee-employer relationship as a marriage, while Americans tend to view the relationship as a casual date.37 Responsibility For Training After Employment In communitarian companies, cross training and job rotation are essential to support self regulating teams and to promote bonding with the organization. It is reasonable to assume that relatively large training expenditures will pay off due to the very low labor turnover rates in these environments. Individualistic companies logically spend less on training because of high labor turnover coupled with the influence of scientific management. If jobs are limited to a few simple repetitive tasks, employees can be laid-off, or fired and easily replaced when needed. These ideas are supported by the world competitiveness report mentioned earlier. In the category of quantity and quality of on-the-job training, Japanese companies were ranked number 1, German companies number 2 and U.S. companies number 11 out of twenty-three industrial countries.38 Route To Management The route or career path to a management position is also very different in the two economic variants of capitalism. In a communitarian company, broadly educated college graduates develop a cumulative multi-function knowledge of the organization before they become managers. In other words, they become company generalist through a long internship program, rather than functional specialist. Since communitarian managers develop company specific knowledge, they are not particularly mobile or marketable outside the organization. However, this company specific orientation and the policy of promoting from within the organization increases the manager’s internal mobility. The combination of internal mobility and life time employment establishes a bond between the manager and the organization. From the company perspective, the resulting low labor turnover rates support the relatively heavy expenditures on management training. The individualistic system is quite different. College graduates who have specialized in a particular area of study such as industrial engineering, accounting or marketing are hired by organizations to work in that particular functional area. After acquiring experience in their particular specialty, they become managers. Their orientation to a specific business function enhances their mobility in the external labor market, but they are frequently locked into their chosen specialty area. Of course some managers do break out of their narrow specialty areas to move up the management hierarchy. External mobility is clearly an advantage to the individual in an environment where employees are treated as factors of production or commodities. Disloyalty to the company is not an insoluble problem for the organization in an individualistic system however, because a functional specialist can be fairly easily replaced with another functional specialist. Company specific knowledge is less important in a system organized around specialists rather than generalists. Management’s Attitude Towards Teamwork In communitarian organizations, teamwork and cooperation are viewed as the only way to optimize the performance of the system. Competition among individuals, departments or segments within an organization and management control techniques that emphasize individualistic performance, are viewed as detrimental to the system. If the performances of the subsystems are optimized, the system will not be optimized. On the other hand, individualistic organizations tend to view teamwork, or any organized group of workers with suspicion. For example, American companies have had a long adversarial relationship with labor unions. American national unions tend to require a large number of job classifications, prohibit cross-training and use the strike as a weapon to obtain higher wages and benefits for union members. In comparison, Japanese unions are company sponsored and promote teamwork by supporting a small number of job classifications, considerable cross-training and a no-strike policy.39 Management’s Behavior In Economic Downturn During a recession or economic downturn, a communitarian organization tends to reduce dividends first, then management compensation. Employees’ wages and jobs are reduced only as a last resort. Workers are viewed as part of the family, so they are retrained and relocated within the company. In an individualistic organization, workers tend to be viewed as replaceable parts. Therefore, in recessionary periods, worker’s pay and jobs are cut first, then management compensation. Dividends are reduced only as a last resort. Management’s View Of Leadership The communitarian view of leadership is probably articulated best in the works of W. Edwards Deming. To Deming, leadership requires knowledge of processes and an understanding of the variability within the system. From Deming’s perspective, leaders know that most of the problems within a system are created by the variability within the system itself, not by the people working in the system. However, individualistic managers tend to view leadership from a top down control perspective. The leader specifies the desired results and then rewards or punishes workers on the basis of these specifications. The communitarian leader views workers as colleagues in an adult-adult relationship, while the individualistic leader views the relationship more in terms an adult-child orientation. In a communitarian company, employees work with management. In an individualistic company, employees work for (and sometimes against) management. Notice that a manager’s view of leadership follows logically from the company’s overall structure and policies towards employees. (See Deming's New Economics summary and the Hayes & Abernathy summary for more on the problems associated with the individualistic form of leadership). Management’s Attitude Toward Problems A communitarian leader tends to blame the system first, not the people working in the system. The communitarian approach emphasizes continuously seeking to improve the system. In an individualistic environment, according to Deming, managers blame people for problems because they do not understand the system. Another way to state this idea is to say that the communitarian management style is process oriented, while the individualistic management style is results oriented. Communitarian managers tend to manage the processes and work that people do, while individualistic managers tend to manage by results, frequently financial results.40 Tools Of Management Managers in a communitarian company manage by promoting a bottom up approach referred to as employee empowerment. Self directed teams monitor their own performance with techniques such as statistical control charts. The manager facilitates, counsels and teaches to promote continuous improvement, job enhancement and teamwork. The system depends on trust, not fear. According to Deming, a leader does not judge or rank employees.41 The traditional individualistic approaches include management by objectives, merit ratings, incentive pay, quotas, standards and piecework systems. Deming argues that these tools, common in the individualistic organization, are fear oriented and destroy cooperation and teamwork. Of course, cooperation and teamwork provides the foundation of a communitarian organization. PLACEMENT WITHIN THE LARGER ECONOMIC SYSTEM Although the individualistic and communitarian capitalist models may appear to be radically different, they are very similar when placed within the whole array of possible economic systems. Consider the variety of alternatives that appear in the economic system models illustration presented in Exhibit 1-6. The models at the top of the illustration represent maximum government ownership of capital and land, while the models at the bottom represent the absence of government. The models on the left-hand side exclude the profit motive, while the models on the right-hand side include the profit motive.42 On the lower right-hand side, free enterprise capitalism represents the maximum individual freedom within a capitalist system, while state capitalism represents the minimum individual freedom. On the left-hand side, communism represents the maximum individual freedom for a socialist system, while state socialism represents the least individual freedom. Notice that both communitarian capitalism and individualistic capitalism fall into the same category. Both systems include a mixture of state (i.e., government) regulation and private enterprise. In terms of the whole scheme of possible economic systems, the two models are very close together. These two models mainly differ in terms of the amount of emphasis placed on individual freedom. It is important to understand that while individual freedom represents the greatest strength of capitalism, it also represents the greatest potential weakness. Finding the optimum mix of individual freedom and cooperation within a larger community is the goal of both systems. Mixed Versus Pure Organizations Today there are few, if any pure systems. Although some have argued that by the year 2000 all workers would be part of a team43, it is likely that there will always be a mixture of cooperation and competition within any system. Until recently most American companies have emphasized individual skills and performance. However, since 1980 many American organizations have redesigned their systems to emphasize cooperation and teamwork and to de-emphasize competition between individuals and segments within an organization.44 Currently the World Economic Forum ranks countries on the basis of 12 pillars of competitiveness. The 11th pillar is business sophistication defined as follows: "Business sophistication concerns two elements that are intricately linked: the quality of a country’s overall business networks and the quality of individual firms’ operations and strategies."45 Relevance Of Framework To Accounting Many of the ideas and concepts associated with communitarian capitalism are linked to attempts to develop new and better approaches to accounting and management such as activity management, activity costing, activity based product costing (ABC), just-in-time (JIT), investment management, the expanded use of statistical control charts and total quality management (TQM).46 As we proceed through this textbook we will return to these ideas frequently to emphasize that accounting is not a generic set of rules that fits all firms under all circumstances. To be useful to management, internal accounting systems must be designed, and redesigned when necessary, to fit the organization’s structure, strategy and competitive orientation. Accounting systems that were designed to support an organization competing under the assumptions of individualistic capitalism are not likely to be as useful to organizations that are restructuring around the communitarian concepts. Many companies are evolving in this way, from a system based on individualistic values to a system based on cooperation and teamwork47. Accounting scholars agree that accounting systems must continue to evolve to complement these changes. However, questions concerning what to change and how to change it have created a considerable number of controversial issues. We will consider many of these issues in subsequent chapters. (See a graphic view of the Evolution of Management Accounting). APPENDIX 1-1: THE CERTIFIED MANAGEMENT ACCOUNTANT Obtaining the CMA designation can enhance your marketability48. It should be of special interest to those who do well in accounting courses, but who do not want to become public accountants. Consider the following. In 1972, the National Association of Accountants (NAA) established the Institute of Management Accounting to administer the CMA program. The original IMA became the Institute of Certified Management Accountants and NAA changed its name to the Institute of Management Accountants. The CMA program was developed to provide recognition and credibility to Management Accounting as a professional discipline. The New CMA Exam Structure for 2010 In May 2010 the CMA exam changed to a two part format emphasizing the critical skills related to financial planning, analysis, control, and decision support. There are two four-hour exams each consisting of 100 multiple choice questions and two 30-minute essay questions. Part 1: Financial Planning, Performance and Control Planning, budgeting, and forecasting Performance management Cost management Internal controls Part 2: Financial Decision Making Financial statement analysis Corporate finance Decision analysis and risk management Investment decisions Professional ethics All topics in both sections will be tested up to level "C", i.e., a candidate's ability to synthesize information, evaluate a situation, and make recommendations. Levels "A" (knowledge and comprehension), and "B" (application and analysis) are also tested. The increased emphasis on "C" level knowledge is a change from the previous four part exam.49 The New CMA Exam Structure for 2020 The new 2020 structure places more emphasis on technology, ethics, strategy, and decision analysis. Part I: Financial Planning, Performance, and Analytics Cost Management Internal Controls Technology and Analytics External Financial Reporting Decisions Planning, Budgeting, and Forecasting Performance Management Part 2: Strategic Financial Management Risk ManagementInvestment ManagementProfessional EthicsFinancial Statement AnalysisCorporate FinanceDecision Analysis The following link provides more specific information about the current CMA exam. Imanet cma-certification? There are many different certifications for accountants that support a variety of specialty areas. For a list and links see Accounting Certifications. FOOTNOTES 1See H. T. Johnson and R. S. Kaplan, 1987, Relevance Lost: The Rise and Fall of Management Accounting (Harvard Business School Press): Chapter 2. (MAAW's Relevance Lost section); Johnson, H. T. 1983. The search for gain in markets and firms: A review of the historical emergence of management accounting systems. Accounting, Organizations and Society 8(2-3): 139-146. (Summary); Garner, S. P. 1947. Historical development of cost accounting. The Accounting Review (October): 385-389. (JSTOR link); and Garner, S. P. 1954. Evolution of Cost Accounting to 1925. Tuscaloosa, AL. University of Alabama Press. 2 For a thought provoking discussion of operational definitions, see W. Edwards Deming, 1986, Out of the Crisis, (Massachusetts Institute of Technology Center for Advanced Engineering Study): Chapter 9. (See MAAW's section on Deming). 3 See Bedford, N. 1971. The Income Concept Complex: Expansion or Decline.Asset Valuation, ed. Robert Sterling. Lawrence, Kansas: Scholars Book Company: 142. 4 See Chambers, R. J. 1966. A matter of principle. The Accounting Review (July): 455. (JSTOR link). 5 Accrual accounting is a system of recording financial transactions where revenues are recorded when earned (generally at the time of sale) and expenses are recorded when the benefits from those expenses have been obtained. The foundation for accrual accounting is the matching concept discussed later in this chapter. 6 See National Association of Accountants. 1981. MAP committee promulgates definition of management accounting. Management Accounting (January): 58-59. (Definition) and National Association of Accountants. 1982. Accounting, Statement No. 1B; and Keller, I. W. 1976. All accounting is management accounting. Management Accounting (November): 13-15. See also Raun, D. L. 1962. What is accounting? The Accounting Review (October): 769-773. (JSTOR link). 7 William J. Vatter. 1950. Managerial Accounting. Prentice Hall. 8 For a reference to Relevance Lost, see footnote 1. For the second book, see Callie Berliner and James A. Brimson, editors. 1988. Cost Management for Today's Advanced Manufacturing: The CAMI Conceptual Design, (Harvard Business School Press). (More information). 9 CAM-I is a research and development consortium formed in 1986 to define the role of cost management in what many refer to as the new competitive environment. (More information). 10 See Berliner and Brimson, editors., Cost Management for Today's Advanced Manufacturing: The CAMI Conceptual Design: 3. 11 See Brimson, James A. 1991. Activity Accounting: An Activity-Based Costing Approach, (John Wiley & Sons, Inc.). 12 See Johnson, H. T. 1989. Professors, Customers and Value: Bringing A Global Perspective To Management Accounting Education. Proceedings of the Third Annual Management Accounting Symposium (American Accounting Association): 11. (Summary). Also see Johnson, H. T. 1992. Relevance Regained: From Top-Down Control to Bottom-up Empowerment. New York: The Free Press. (Summary). 13 From Reader's Digest Illustrated Encyclopedic Dictionary, 1987, Houghton Mifflin Company. 14 See "Report of Committee on Behavioral Science Content of the Accounting Curriculum", The Accounting Review Supplement, 1971: 247. Although objectivity and neutrality are important concepts for external reporting, internal accounting systems cannot and should not be neutral. 15 See Walter A. Shewhart, 1931, Economic Control of Quality of Manufacturing Product, (Van Nostrand); reprinted by Ceepress, The George Washington University, 1986) and W. Edwards Deming,1986, Out Of The Crisis, (Massachusetts Institute of Technology). (More information). 16 All of the accounting systems described in this textbook are considered traditional systems except those that include activity based costing, back flush costing and throughput costing. The various types of cost accounting systems are described in Chapter 2. 17 An explanation of why variable costs might increase at constant, increasing and decreasing rates appears in Chapter 11. 18 See George C. Lodge. 1990. Perestroika for America: Restructuring U.S. Business-Government Relations for Competitiveness in the World Economy. Harvard Business School Press; Lester Thurow. 1992. Head to Head: The Coming Economic Battle Among Japan, Europe and America. William Morrow and Company, Inc.; and 1992. Who Owns the Twenty-First Century? Sloan Management Review (Spring). 19 George C. Lodge, Perestroika for America: 15-17. 20 See W. Edwards Deming, Out of the Crisis, 1986, (Massachusetts Institute of Technology) and The New Economics for Industry For Industry, Government & Education, 1993, (Massachusetts Institute of Technology). (Summary). A fairly large number of research studies related to the effectiveness of cooperation and competition have been published in various social science journals. For example, see Johnson, D. W., G. Maruyama, R. Johnson, D. Nelson and L. Skon. 1981. Effects of cooperative, competitive, and individualistic goal structures on achievement: A meta-analysis. Psychological Bulletin (89): 47-62 (Summary). 21 See Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations,1937, edited by Edwin Cannan, (New York: Random House, Modern Library edition), Book I, Chapter 2. Smith’s work was originally published in 1776. Also see the Cooper 2000 summary). 22 In addition to the references to Deming and Thurow, see Kosaku Yoshida, 1989, "Deming Management Philosophy: Does it Work in the US as well as in Japan?", Columbia Journal of World Business, (Fall ): 10-17. (Summary). 23 See Fortune, July 30, 1990: 109. 24 This concept appears to fit the Japanese fairly well, perhaps because of the influence of Buddhism. According to the Zen Buddhist text, "The master in the art of living makes little distinction between his work and his play, his labor and his leisure, his mind and his body, his education and his recreation, his love and his religion. He hardly knows which is which. He simply pursues his vision of excellence in whatever he does, leaving others to decide whether he is working or playing. To him he is always doing both." Quoted from Lester Thurow, Head To Head: 113. 25 In The Human Side of Enterprise, 1960, (McGraw Hill), Douglas M. McGregor discusses two theories concerning human behavior he referred to as Theory X and Theory Y. Theory X views workers as lazy and not very bright, thus the system must be designed to supervise them carefully. Theory Y views workers as potentially industrious if the system is designed properly to promote their self esteem, status and self fulfillment. (Summary). 26 Lester Thurow, Head To Head: 276. 27 Education, Fortune, Special Issue 1990: 54-55. In this report, high school drop out rates for 1988 ranged from 42% in Florida to 9.1% in Minnesota. The mean for the fifty states and Washington D.C. was 28.9%. In a more recent report by the ASCE, 75% of the nations school buildings were inadequate to meet the needs of school children. For a note on recent reports see ASCE Summary. 28 "The U.S. Army rejects 60,000 potential enlistees a year. They are not smart enough to serve." Quoted from Fortune, Special Issue 1990: 55. 29 "Because of the inherently anti-government character of the American Creed, government that is strong is illegitimate, government that is legitimate is weak." Samuel P. Huntington, 1981, American Politics: The Promise of Disharmony, (Harvard University Press): 39. According to recent ASCE reports, our infrastructure is seriously deficient. Recent ASCE reports gave the overall infrastructure (including roads, bridges, transit, aviation, schools, drinking water, wastewater, dams, solid waste, hazardous waste, navigable waterways and energy) a "D". (ASCE Summary). 30 Lester Thurow, Head To Head: 125-129. 31 George Lodge, Perestroika For America: 43. 32 Lester Thurow discusses these and other results in Head To Head, p. 162. The World Competitiveness Report has been published annually by the Swiss based World Economic Forum since 1980. For a Summary ofthe WEF's 2011 and 2012 Global Competitiveness Index see World Competitiveness Reports. 33 Mentioned by Thurow in Head To Head from "The Japanese Advantage in Autos," The New York Times, April 1, 1983. 34 Mentioned by Thurow in Head To Head: 126. The original sources are "A Survey of International Finance," The Economist, April 27, 1991: 39 and Council of Economic Advisors, Economic Report of the President, 1991: 387. 35 See Thurow, Head To Head: 137 and 195. 36 Reported by Lester Thurow in Head To Head: 139. From the U.S. Department of Labor, Handbook of Labor Statistics, Bulletin 2175, not dated, p. 180 and "Economic Cost of the Human Factor," Financial Times, February 20, 1991: 8. 37 A similar comment appears in Joseph J. Fucini and Suzy Fucini, 1990, Working For The Japanese, The Free Press: 57. The comment is in reference to Mazda’s American automobile plant in Flat Rock, Michigan. 38 Lester Thurow, Head To Head: 162. Also see the earlier reference to the world competitiveness report. 39 A number of authors have described the Japanese management-union relationship. For example, see Hirotaka Takeuchi, 1981, "Productivity: Learning from the Japanese," California Management Review, Summer: 13. (Summary). 40 Some authors have referred to this as "management by the numbers" or "managerial remote control". For example, see the Hayes and Abernathy and Johnson and Kaplan summaries. 41 To Deming, ranking employees is one of the deadly diseases that afflict most companies in the Western world. See Out Of The Crisis: Chapter 3.42 Why does the profit motive separate capitalism from noncapitalist economies? The main institutions of capitalism include: 1. the idea that individuals act as "economic men", i.e., attempt to balance cost (human energy) with satisfaction. 2. Private property, i.e., the right to acquire, keep, use exclusively, and dispose of valuable things. 3. Inheritance, i.e., the owner's right to designate the recipient of title to property (the right of bequest), and the right of an individual to claim title (the right of inheritance). 4. Freedom of individual initiative, i.e., the freedom of individuals to exercise their own initiative in economic matters. 5. Competition, i.e., economic rivalry. 6. The profit motive, i.e., the monetary difference between receipts and expenditures. Although all of the other institutions of capitalism (1-5) can exist in noncapitalist economies, the profit motive is not compatible with socialism or communism. On the other hand, capitalism cannot exist without the profit motive. It is the controlling mechanism and the key institution of capitalism. For more on how capitalism differs from noncapitalist economies, see Loucks, W. N. 1965. Chapter 2. Comparative Economic Systems, 7th edition. Harper & Row. Also see Chapter 9 of Oser, J. 1963. The Evolution of Economic Thought.  Harcourt, Brace & World, Inc. (Summary). 43 See Joseph H. Boyett and Henry P. Conn, 1991, Workplace 2000: The Revolution Reshaping American Business (Penguin Books USA Inc.): 39. 44 For an early paper predicting similar changes, see William G. Ouchi and Alfred M. Jaeger, 1978, "Type Z Organization: Stability in the Midst of Mobility," Academy of Management Review (April): 305-314. In this paper the authors discuss three types of organizations: Type A - American, Type J - Japanese and Type Z - modified American. (Summary). 45 For a summary of the Global Competitiveness Index see Martin, J. R. Not dated. World Competitiveness Reports. Management And Accounting Web.  WorldCompetitivenessReports 46 For example, in 1986 a group of CAM-I representatives traveled to Japan to study Japanese management practices. What they learned had considerable influence on the development of the CAM-I conceptual design. See Berliner and Brimson, 1988, Cost Management for Today’s Advanced Manufacturing, particularly Chapter 9. 47 Most of the concepts mentioned depend on cooperation and teamwork as we will see in subsequent chapters. Clearly more companies are emphasizing teamwork as indicated by several studies. For example, in a 1995 study by Hewitt Associates, 65% of the companies surveyed used teams. In a 1999 study by the IMA, 73% of the respondents indicated that management accountants worked on cross-functional teams. See Hewitt Associates, LLC. 1995. Salary Increase Report. Hewitt Associates LLC; and Institute of Management Accountants. 1999. Counting More, Counting Less, Transformations in the Management Accounting Profession, The 1999 Practice Analysis. IMA. For more on teams and teamwork see MAAW's Teamwork topic. 48 See Management Accounting (April 1992). This entire issue is dedicated to the CMA exams. (More information). 49 Brausch, J. M. and D. Whitney. 2009. CMA: The quest for increasing value. Strategic Finance (December): 9-10, 12. (Summary). For a history of the CMA exam including information related to the new 2010 exam see VanZante, N. R. 2010. IMA's professional certification program has changed. Management Accounting Quarterly (Summer): 48-51. (Summary). For some articles related to the value of the CMA, see: Krippel, G. L. and S. Mitchell. 2011. What's your CMA worth? We show you how to estimate the lifetime value of the certification. Strategic Finance (November): 41-47. (Note). Schiffel, L., K. A. Smith and D. L. Schroeder. 2011. IMA 2010 salary survey: How's that recovery workin' for you? Strategic Finance (June): 26-46. (Summary). QUESTIONS 1. Why is the distinction between concept definitions and operational definitions important? (See section on definitions). 2. In Exhibit 1-1, financial accounting is defined as part of management accounting. Discuss the logic underlying this concept definition. 3. Conceptually, how do public accounting, governmental accounting and management accounting differ? (See Exhibit 1-1 and subsequent discussion). 4. Explain how cost accounting is linked to tax accounting, financial accounting and managerial accounting. (See Exhibit 1-2 and subsequent discussion). 5. Explain how and why the emphasis of cost accounting education changed around 1950? (See cost accounting changing emphasis). 6. Explain how cost accounting education began to change again in 1987. (See cost accounting changing emphasis). 7. How does cost accounting differ from cost management? 8. What is the conceptual difference between cost management and activity management? 9. How is investment management more comprehensive than capital budgeting? 10. In your opinion, should performance measurement systems be designed to influence behavior, or should they be neutral? Explain your reasoning. (See Dual Purpose of accounting measurements). 11. Discuss how performance measurements affect performance? (See Dual Purpose of accounting measurements). 12. Explain the concept of variation or variability. 13. Consider the concept of variability in connection with your performance in the following areas: academic, athletic and employment if applicable. How much control do you think you have over your performance ranking, stated as a percentage? Why? 14. Based on your experience, what percentage of the variation in grades in school is caused by the system (broadly defined as economic, social and educational) as opposed to the individual efforts of students? Do you think faculty and administrators would agree with your percentages? Why? 15. What does control mean statistically? (See concept of control). 16. Distinguish between common causes and special causes of variation. How are these concepts used to develop a control chart? (See concept of control and subsequent discussion). 17. Conceptually, what is the difference between direct and indirect costs? (See the management accounting terminology section and the Gordon & Loeb summary). 18. In traditional cost accounting systems, what is the difference between product cost and inventoriable cost? 19. What is the matching concept? (See Matching Concept). 20. How do the terms expired and unexpired relate to the matching concept? (See Matching Concept). 21. What is the difference between an asset and an expense? (See Matching Concept). 22. Why is cost behavior analysis a short run concept? (See cost behavior). 23. Provide concept definitions for: variable costs, fixed costs, semi-variable costs and semi-fixed costs. (See cost behavior). (Go to a similar set of Framework Questions with links related to the answers for questions 24-50). 24. What is a system? 25. Describe the main assumptions underlying the two variants of capitalism. 26. When is teamwork or cooperation needed to optimize a system, i.e., what system characteristics cause a need for teamwork? 27. Where did the emphasis on competition originate? 28. What is the most cooperative form of life? a. Humans,  b. Wolves  c. Army ants  d. Killer bees  e. Some other species 29. Compare McGregor’s concepts of Theory X and Theory Y to the two variants of capitalism. 30. What is the driving force underlying the two types of economic systems? 31. What does the term infrastructure mean? 32. Why is infrastructure important? 33. Who should pay for education? 34. Should the federal government promote supply or demand? 35. Which type of capitalist system is oriented more towards short term profits? Why? 36. What is a flat organization? 37. Which system promotes a flat organizational structure? 38. What is needed to support a flat organization? 39. Are the concepts of individualistic organization and flat organization compatible? 40. What advantage does a flat organization have over a vertical organization? 41. Who should be first in the hierarchy of an organization’s constituencies, employees, customers, or stockholders? 42. Discuss the advantages and disadvantages of the individualistic system of capitalism, first from the employee’s point of view and then from the employer’s point of view. Some areas for consideration include employee acquisition, internal and external mobility, training costs and cost of supervision. (See the table in the Framework questions). 43. Discuss the advantages and disadvantages of the communitarian system of capitalism from the employee’s view point and then from the employer’s view point in the same areas mentioned above. (See the table in the Framework questions). 44. How does the concept of leadership differ in the two systems? 45. Which type of leader blames the system for problems first? Why? 46. Which type of leader would rank employees? Why? 47. Do you think Americans tend to be reluctant to accept the idea of teamwork? Do you think this tendency is controlled more by the system, or the individual? 48. Which type of leader believes that employees are mainly motivated by money? 49. What is the key difference between socialism and capitalism? (See the Economic system graphic) 50. Why are the global variants of capitalism relevant to the study of cost and managerial accounting? (See Relevance of Framework to Accounting, the Quality or Else summary and Handy summary). PROBLEMS Problem 1-1 Circle the letter of your choice for each of the multiple choice questions below. 1. Which of the following represents part of Management Accounting?     a. Financial Accounting.     b. Tax Accounting.     c. Cost Accounting.     d. Managerial Accounting.     e. All of the above. 2. The broad conceptual definition of management accounting presented in the text excludes     a. public accounting.     b. financial accounting.     c. governmental accounting.     d. a and c.     e. all of the above. 3. Conceptually, the difference between cost management and activity management is that     a. cost management is proactive and activity management is reactive.     b. cost management places emphasis on costs while activity management places emphasis on the work that causes the costs.     c. cost management is designed for external users while activity management is designed for internal use.     d. a and b.     e. all of these. 4. Managers in which type of economic system tend to place greater emphasis on long term growth?     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems.     d. Neither system. 5. In cost accounting, costs are classified as variable costs if they     a. change during the accounting period.     b. change as the activity level changes.     c. are indirect costs.     d. are not related to the activity measurement.     e. none of these. 6. In cost accounting, fixed costs are those costs that     a. are constant.     b. are closely related to the activity measurement.     c. are not affected by the level of activity during the accounting period.     d. include all the indirect costs.     e. c and d 7. Conceptually, the main difference between financial accounting and managerial accounting is that     a. public accountants are engaged in financial accounting and private accountants are engaged in managerial accounting.     b. financial accounting information is mainly designed for external users while managerial accounting information is designed for internal users.     c. cost accounting is required for managerial accounting, but not for financial accounting.     d. GAAP can be used for financial accounting, but not for managerial accounting.     e. none of these. 8. In accounting, the matching concept refers to     a. assigning costs to the type of production process in which the company is engaged.     b. assigning costs to the products that cause the costs.     c. assigning costs to expense in the time periods when the benefits associated with the costs are recognized.     d. separating variable costs and fixed costs so that variable costs can be matched with products and fixed cost can be matched with time periods.     e. none of these. 9. Theoretically, short term profit maximization is the main objective in     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b.)     d. neither system. 10. An underlying assumption of the system is that work mainly provides disutility, thus workers will tend to avoid work if possible.     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b).     d. neither system. 11. The hierarchy of an organization's constituencies is: employees first, customers second, and stockholders third. This is consistent with     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b).     d. neither system. 12. Promoting competition between individuals is viewed as a way to improve efficiency in     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b).     d. neither system. 13. Managers tend to blame the system for most of the variation in performance in     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b).     d. neither system. 14. The desire for consumption and leisure is viewed as the main driving force in the economy in     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b).     d. neither system. 15. Where managers tend to manage processes by facilitating and counseling workers, rather than ranking workers based on numerical results.     a. Communitarian capitalism.     b. Individualistic capitalism.     c. Both systems (a and b).     d. neither system. 16. Which of these statements is true?     a. The matching concept requires that we distinguish between expired and unexpired costs.     b. To say that a cost has expired means that the benefits associated with the expenditure have been recognized.     c. Most costs that represent future benefits are classified as assets.     d. Matching is required for external reporting.     e. All of the above. Problem 1-2 Problem Solutions Extra MC Questions
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 228
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 221
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => system
                                            [tf] => 193
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 171
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 69
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => capitalism
                                            [tf] => 66
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => concept
                                            [tf] => 65
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => individualistic
                                            [tf] => 59
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 51
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => activity
                                            [tf] => 46
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 43
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => definition
                                            [tf] => 43
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 43
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => communitarian
                                            [tf] => 43
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => cost accounting
                                            [tf] => 41
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => control
                                            [tf] => 39
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => chapter
                                            [tf] => 38
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => performance
                                            [tf] => 37
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => exhibit
                                            [tf] => 34
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => work
                                            [tf] => 34
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => include
                                            [tf] => 32
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => cost management
                                            [tf] => 31
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 31
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => important
                                            [tf] => 31
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => economic
                                            [tf] => 31
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => individual
                                            [tf] => 30
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => part
                                            [tf] => 29
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => summary
                                            [tf] => 28
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => individualistic capitalism
                                            [tf] => 27
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => employee
                                            [tf] => 27
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 26
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => behavior
                                            [tf] => 26
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => internal
                                            [tf] => 26
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 25
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 25
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => government
                                            [tf] => 25
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => product
                                            [tf] => 23
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => communitarian capitalism
                                            [tf] => 19
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => variable cost
                                            [tf] => 17
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => fixed cost
                                            [tf] => 17
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => activity management
                                            [tf] => 17
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => individualistic system
                                            [tf] => 17
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => johnson
                                            [tf] => 16
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => operational definition
                                            [tf] => 15
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => conceptual definition
                                            [tf] => 15
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => variant capitalism
                                            [tf] => 14
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => accounting system
                                            [tf] => 14
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => governmental accounting
                                            [tf] => 12
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => theory
                                            [tf] => 12
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => cost behavior
                                            [tf] => 12
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => performance measurement
                                            [tf] => 12
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => matching concept
                                            [tf] => 12
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => investment management
                                            [tf] => 11
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => accounting cost
                                            [tf] => 11
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => head head
                                            [tf] => 11
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => edward deming
                                            [tf] => 10
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => production volume
                                            [tf] => 10
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => manufacturing cost
                                            [tf] => 10
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => economic system
                                            [tf] => 10
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => accounting managerial
                                            [tf] => 10
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => accounting management
                                            [tf] => 10
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => management activity
                                            [tf] => 10
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => accounting managerial accounting
                                            [tf] => 9
                                        )

                                    [63] => stdClass Object
                                        (
                                            [term] => accounting financial
                                            [tf] => 9
                                        )

                                    [64] => stdClass Object
                                        (
                                            [term] => public accounting
                                            [tf] => 9
                                        )

                                    [65] => stdClass Object
                                        (
                                            [term] => cost accounting cost
                                            [tf] => 8
                                        )

                                    [66] => stdClass Object
                                        (
                                            [term] => accounting management accounting
                                            [tf] => 8
                                        )

                                    [67] => stdClass Object
                                        (
                                            [term] => management activity management
                                            [tf] => 8
                                        )

                                    [68] => stdClass Object
                                        (
                                            [term] => thurow head head
                                            [tf] => 8
                                        )

                                    [69] => stdClass Object
                                        (
                                            [term] => capitalism individualistic
                                            [tf] => 8
                                        )

                                    [70] => stdClass Object
                                        (
                                            [term] => capitalism system
                                            [tf] => 8
                                        )

                                    [71] => stdClass Object
                                        (
                                            [term] => hierarchy organization
                                            [tf] => 8
                                        )

                                    [72] => stdClass Object
                                        (
                                            [term] => smith
                                            [tf] => 8
                                        )

                                    [73] => stdClass Object
                                        (
                                            [term] => problem
                                            [tf] => 8
                                        )

                                    [74] => stdClass Object
                                        (
                                            [term] => view leadership
                                            [tf] => 8
                                        )

                                    [75] => stdClass Object
                                        (
                                            [term] => concept control
                                            [tf] => 8
                                        )

                                    [76] => stdClass Object
                                        (
                                            [term] => tax accounting
                                            [tf] => 8
                                        )

                                    [77] => stdClass Object
                                        (
                                            [term] => cost cost
                                            [tf] => 8
                                        )

                                    [78] => stdClass Object
                                        (
                                            [term] => cam
                                            [tf] => 8
                                        )

                                    [79] => stdClass Object
                                        (
                                            [term] => performance system
                                            [tf] => 8
                                        )

                                    [80] => stdClass Object
                                        (
                                            [term] => lester thurow
                                            [tf] => 8
                                        )

                                    [81] => stdClass Object
                                        (
                                            [term] => communitarian system
                                            [tf] => 8
                                        )

                                    [82] => stdClass Object
                                        (
                                            [term] => thurow head
                                            [tf] => 8
                                        )

                                    [83] => stdClass Object
                                        (
                                            [term] => accounting financial accounting
                                            [tf] => 7
                                        )

                                    [84] => stdClass Object
                                        (
                                            [term] => financial accounting managerial
                                            [tf] => 7
                                        )

                                    [85] => stdClass Object
                                        (
                                            [term] => cost fixed
                                            [tf] => 7
                                        )

                                    [86] => stdClass Object
                                        (
                                            [term] => concept cost
                                            [tf] => 7
                                        )

                                    [87] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 7
                                        )

                                    [88] => stdClass Object
                                        (
                                            [term] => area accounting
                                            [tf] => 7
                                        )

                                    [89] => stdClass Object
                                        (
                                            [term] => financial statement
                                            [tf] => 7
                                        )

                                    [90] => stdClass Object
                                        (
                                            [term] => driving force
                                            [tf] => 7
                                        )

                                    [91] => stdClass Object
                                        (
                                            [term] => view
                                            [tf] => 7
                                        )

                                    [92] => stdClass Object
                                        (
                                            [term] => individualistic organization
                                            [tf] => 7
                                        )

                                    [93] => stdClass Object
                                        (
                                            [term] => individual freedom
                                            [tf] => 7
                                        )

                                    [94] => stdClass Object
                                        (
                                            [term] => global variant capitalism
                                            [tf] => 6
                                        )

                                    [95] => stdClass Object
                                        (
                                            [term] => cost management activity
                                            [tf] => 6
                                        )

                                    [96] => stdClass Object
                                        (
                                            [term] => world competitiveness report
                                            [tf] => 6
                                        )

                                    [97] => stdClass Object
                                        (
                                            [term] => responsibility training
                                            [tf] => 6
                                        )

                                    [98] => stdClass Object
                                        (
                                            [term] => hand side
                                            [tf] => 6
                                        )

                                    [99] => stdClass Object
                                        (
                                            [term] => definition operational
                                            [tf] => 6
                                        )

                                    [100] => stdClass Object
                                        (
                                            [term] => accounting governmental
                                            [tf] => 6
                                        )

                                    [101] => stdClass Object
                                        (
                                            [term] => management investment
                                            [tf] => 6
                                        )

                                    [102] => stdClass Object
                                        (
                                            [term] => turnover rate
                                            [tf] => 6
                                        )

                                    [103] => stdClass Object
                                        (
                                            [term] => profit motive
                                            [tf] => 6
                                        )

                                    [104] => stdClass Object
                                        (
                                            [term] => global variant
                                            [tf] => 6
                                        )

                                    [105] => stdClass Object
                                        (
                                            [term] => explain
                                            [tf] => 6
                                        )

                                    [106] => stdClass Object
                                        (
                                            [term] => discuss
                                            [tf] => 6
                                        )

                                    [107] => stdClass Object
                                        (
                                            [term] => specialty area
                                            [tf] => 6
                                        )

                                    [108] => stdClass Object
                                        (
                                            [term] => product service
                                            [tf] => 6
                                        )

                                    [109] => stdClass Object
                                        (
                                            [term] => short run
                                            [tf] => 6
                                        )

                                    [110] => stdClass Object
                                        (
                                            [term] => edward
                                            [tf] => 6
                                        )

                                    [111] => stdClass Object
                                        (
                                            [term] => control chart
                                            [tf] => 6
                                        )

                                    [112] => stdClass Object
                                        (
                                            [term] => system designed
                                            [tf] => 6
                                        )

                                    [113] => stdClass Object
                                        (
                                            [term] => world competitiveness
                                            [tf] => 6
                                        )

                                    [114] => stdClass Object
                                        (
                                            [term] => competitiveness report
                                            [tf] => 6
                                        )

                                    [115] => stdClass Object
                                        (
                                            [term] => labor turnover
                                            [tf] => 6
                                        )

                                    [116] => stdClass Object
                                        (
                                            [term] => cma exam
                                            [tf] => 6
                                        )

                                    [117] => stdClass Object
                                        (
                                            [term] => definition operational definition
                                            [tf] => 5
                                        )

                                    [118] => stdClass Object
                                        (
                                            [term] => accounting governmental accounting
                                            [tf] => 5
                                        )

                                    [119] => stdClass Object
                                        (
                                            [term] => tax accounting financial
                                            [tf] => 5
                                        )

                                    [120] => stdClass Object
                                        (
                                            [term] => labor turnover rate
                                            [tf] => 5
                                        )

                                    [121] => stdClass Object
                                        (
                                            [term] => lester thurow head
                                            [tf] => 5
                                        )

                                    [122] => stdClass Object
                                        (
                                            [term] => force economy
                                            [tf] => 5
                                        )

                                    [123] => stdClass Object
                                        (
                                            [term] => constituency
                                            [tf] => 5
                                        )

                                    [124] => stdClass Object
                                        (
                                            [term] => organization tend
                                            [tf] => 5
                                        )

                                    [125] => stdClass Object
                                        (
                                            [term] => system performance
                                            [tf] => 5
                                        )

                                    [126] => stdClass Object
                                        (
                                            [term] => external financial
                                            [tf] => 5
                                        )

                                    [127] => stdClass Object
                                        (
                                            [term] => activity based
                                            [tf] => 5
                                        )

                                    [128] => stdClass Object
                                        (
                                            [term] => statistical control
                                            [tf] => 5
                                        )

                                    [129] => stdClass Object
                                        (
                                            [term] => subsequent chapter
                                            [tf] => 5
                                        )

                                    [130] => stdClass Object
                                        (
                                            [term] => government policy
                                            [tf] => 5
                                        )

                                    [131] => stdClass Object
                                        (
                                            [term] => manager tend
                                            [tf] => 5
                                        )

                                    [132] => stdClass Object
                                        (
                                            [term] => accounting cost management
                                            [tf] => 4
                                        )

                                    [133] => stdClass Object
                                        (
                                            [term] => system performance measurement
                                            [tf] => 4
                                        )

                                    [134] => stdClass Object
                                        (
                                            [term] => concept cost accounting
                                            [tf] => 4
                                        )

                                    [135] => stdClass Object
                                        (
                                            [term] => certified management accountant
                                            [tf] => 4
                                        )

                                    [136] => stdClass Object
                                        (
                                            [term] => conceptual definition operational
                                            [tf] => 4
                                        )

                                    [137] => stdClass Object
                                        (
                                            [term] => selling administrative cost
                                            [tf] => 4
                                        )

                                    [138] => stdClass Object
                                        (
                                            [term] => cost fixed cost
                                            [tf] => 4
                                        )

                                    [139] => stdClass Object
                                        (
                                            [term] => management investment management
                                            [tf] => 4
                                        )

                                    [140] => stdClass Object
                                        (
                                            [term] => external financial statement
                                            [tf] => 4
                                        )

                                    [141] => stdClass Object
                                        (
                                            [term] => cost management today
                                            [tf] => 4
                                        )

                                    [142] => stdClass Object
                                        (
                                            [term] => internal accounting system
                                            [tf] => 4
                                        )

                                    [143] => stdClass Object
                                        (
                                            [term] => management cost management
                                            [tf] => 4
                                        )

                                    [144] => stdClass Object
                                        (
                                            [term] => performance measurement system
                                            [tf] => 4
                                        )

                                    [145] => stdClass Object
                                        (
                                            [term] => statistical control chart
                                            [tf] => 4
                                        )

                                    [146] => stdClass Object
                                        (
                                            [term] => semi fixed cost
                                            [tf] => 4
                                        )

                                    [147] => stdClass Object
                                        (
                                            [term] => panel exhibit
                                            [tf] => 4
                                        )

                                    [148] => stdClass Object
                                        (
                                            [term] => production volume related
                                            [tf] => 4
                                        )

                                    [149] => stdClass Object
                                        (
                                            [term] => cost accounting system
                                            [tf] => 4
                                        )

                                    [150] => stdClass Object
                                        (
                                            [term] => optimize performance system
                                            [tf] => 4
                                        )

                                    [151] => stdClass Object
                                        (
                                            [term] => driving force economy
                                            [tf] => 4
                                        )

                                    [152] => stdClass Object
                                        (
                                            [term] => long term growth
                                            [tf] => 4
                                        )

                                    [153] => stdClass Object
                                        (
                                            [term] => management attitude
                                            [tf] => 4
                                        )

                                    [154] => stdClass Object
                                        (
                                            [term] => massachusett institute technology
                                            [tf] => 4
                                        )

                                    [155] => stdClass Object
                                        (
                                            [term] => subsequent discussion
                                            [tf] => 4
                                        )

                                    [156] => stdClass Object
                                        (
                                            [term] => employment
                                            [tf] => 4
                                        )

                                    [157] => stdClass Object
                                        (
                                            [term] => long term
                                            [tf] => 4
                                        )

                                    [158] => stdClass Object
                                        (
                                            [term] => term growth
                                            [tf] => 4
                                        )

                                    [159] => stdClass Object
                                        (
                                            [term] => consumption leisure
                                            [tf] => 4
                                        )

                                    [160] => stdClass Object
                                        (
                                            [term] => high school
                                            [tf] => 4
                                        )

                                    [161] => stdClass Object
                                        (
                                            [term] => system government
                                            [tf] => 4
                                        )

                                    [162] => stdClass Object
                                        (
                                            [term] => attitude
                                            [tf] => 4
                                        )

                                    [163] => stdClass Object
                                        (
                                            [term] => communitarian organization
                                            [tf] => 4
                                        )

                                    [164] => stdClass Object
                                        (
                                            [term] => level
                                            [tf] => 4
                                        )

                                    [165] => stdClass Object
                                        (
                                            [term] => communitarian company
                                            [tf] => 4
                                        )

                                    [166] => stdClass Object
                                        (
                                            [term] => cooperation teamwork
                                            [tf] => 4
                                        )

                                    [167] => stdClass Object
                                        (
                                            [term] => accounting review
                                            [tf] => 4
                                        )

                                    [168] => stdClass Object
                                        (
                                            [term] => massachusett institute
                                            [tf] => 4
                                        )

                                    [169] => stdClass Object
                                        (
                                            [term] => institute technology
                                            [tf] => 4
                                        )

                                    [170] => stdClass Object
                                        (
                                            [term] => flat organization
                                            [tf] => 4
                                        )

                                    [171] => stdClass Object
                                        (
                                            [term] => accounting cost accounting
                                            [tf] => 3
                                        )

                                    [172] => stdClass Object
                                        (
                                            [term] => cost management system
                                            [tf] => 3
                                        )

                                    [173] => stdClass Object
                                        (
                                            [term] => matching concept cost
                                            [tf] => 3
                                        )

                                    [174] => stdClass Object
                                        (
                                            [term] => provide conceptual
                                            [tf] => 3
                                        )

                                    [175] => stdClass Object
                                        (
                                            [term] => provide conceptual definition
                                            [tf] => 3
                                        )

                                    [176] => stdClass Object
                                        (
                                            [term] => component management accounting
                                            [tf] => 3
                                        )

                                    [177] => stdClass Object
                                        (
                                            [term] => cost variable cost
                                            [tf] => 3
                                        )

                                    [178] => stdClass Object
                                        (
                                            [term] => variable cost fixed
                                            [tf] => 3
                                        )

                                    [179] => stdClass Object
                                        (
                                            [term] => major business concept
                                            [tf] => 3
                                        )

                                    [180] => stdClass Object
                                        (
                                            [term] => business concept attitude
                                            [tf] => 3
                                        )

                                    [181] => stdClass Object
                                        (
                                            [term] => concept attitude practice
                                            [tf] => 3
                                        )

                                    [182] => stdClass Object
                                        (
                                            [term] => framework study management
                                            [tf] => 3
                                        )

                                    [183] => stdClass Object
                                        (
                                            [term] => cost managerial accounting
                                            [tf] => 3
                                        )

                                    [184] => stdClass Object
                                        (
                                            [term] => management accounting management
                                            [tf] => 3
                                        )

                                    [185] => stdClass Object
                                        (
                                            [term] => activity management investment
                                            [tf] => 3
                                        )

                                    [186] => stdClass Object
                                        (
                                            [term] => tax financial accounting
                                            [tf] => 3
                                        )

                                    [187] => stdClass Object
                                        (
                                            [term] => cost product service
                                            [tf] => 3
                                        )

                                    [188] => stdClass Object
                                        (
                                            [term] => changing emphasi
                                            [tf] => 3
                                        )

                                    [189] => stdClass Object
                                        (
                                            [term] => activity management activity
                                            [tf] => 3
                                        )

                                    [190] => stdClass Object
                                        (
                                            [term] => management place emphasi
                                            [tf] => 3
                                        )

                                    [191] => stdClass Object
                                        (
                                            [term] => dual purpose accounting
                                            [tf] => 3
                                        )

                                    [192] => stdClass Object
                                        (
                                            [term] => purpose accounting measurement
                                            [tf] => 3
                                        )

                                    [193] => stdClass Object
                                        (
                                            [term] => person working system
                                            [tf] => 3
                                        )

                                    [194] => stdClass Object
                                        (
                                            [term] => cost process measurement
                                            [tf] => 3
                                        )

                                    [195] => stdClass Object
                                        (
                                            [term] => cost good sold
                                            [tf] => 3
                                        )

                                    [196] => stdClass Object
                                        (
                                            [term] => semi variable cost
                                            [tf] => 3
                                        )

                                    [197] => stdClass Object
                                        (
                                            [term] => activity based costing
                                            [tf] => 3
                                        )

                                    [198] => stdClass Object
                                        (
                                            [term] => accounting system designed
                                            [tf] => 3
                                        )

                                    [199] => stdClass Object
                                        (
                                            [term] => training prior employment
                                            [tf] => 3
                                        )

                                    [200] => stdClass Object
                                        (
                                            [term] => organization constituency
                                            [tf] => 3
                                        )

                                    [201] => stdClass Object
                                        (
                                            [term] => attitude teamwork
                                            [tf] => 3
                                        )

                                    [202] => stdClass Object
                                        (
                                            [term] => manager tend manage
                                            [tf] => 3
                                        )

                                    [203] => stdClass Object
                                        (
                                            [term] => national association accountant
                                            [tf] => 3
                                        )

                                    [204] => stdClass Object
                                        (
                                            [term] => harvard business school
                                            [tf] => 3
                                        )

                                    [205] => stdClass Object
                                        (
                                            [term] => business school press
                                            [tf] => 3
                                        )

                                    [206] => stdClass Object
                                        (
                                            [term] => theory theory
                                            [tf] => 3
                                        )

                                    [207] => stdClass Object
                                        (
                                            [term] => indirect cost
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 49
                            [rank] => 54063
                        )

                    [23] => stdClass Object
                        (
                            [position] => 24
                            [title] => Management Accounting Highlights
                            [url] => https://www.aicpa-cima.com/about-us/management-accounting-highlights.html
                            [destination] => https://www.aicpa-cima.com › about-us › management-...
                            [description] => Combining the strengths of the American Institute of CPAs and the Chartered Institute of Management Accountants, we empower the world’s most highly-skilled accountants – CPAs and CGMAs – with the knowledge, insight and foresight to meet today’s demands and tomorrow’s challenges
                            [isAmp] => 
                            [organic_position] => 23
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accounting Highlights
                            [serp_description] => Management accountants lead from the heart of business, working within organizations to identify opportunities, reveal insights and make the big strategic ...
                            [hostname] => aicpa-cima.com
                            [canonical] => https://www.aicpa-cima.com/about-us/management-accounting-highlights.html
                            [h1] => 
                            [h2] => Array
                                (
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                )

                            [type] => website
                            [wordCount] => 322
                            [imgCount] => 1
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 14
                                    [outboundSize] => 10
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => Global Management Accounting Principles
                                                    [href] => https://www.cgma.org/resources/reports/globalmanagementaccountingprinciples.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => CGMA Competency Framework
                                                    [href] => https://www.cgma.org/resources/tools/cgma-competency-framework.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => CGMA designation
                                                    [href] => https://www.cgma.org/aboutcgma.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => qualify
                                                    [href] => https://www.cgma.org/becomeacgma.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => Essential Tools for Management Accountants
                                                    [href] => https://www.cgma.org/resources/tools/essential-tools/list.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => Risk Management Toolkit
                                                    [href] => https://www.cgma.org/resources/tools/risk-management-toolkit.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => Research and Insight
                                                    [href] => https://www.cgma.org/resources/joining-the-dots-decision-making-for-a-new-era.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => Cost Transformation Model
                                                    [href] => https://www.cgma.org/resources/tools/cost-transformation-model.html
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [8] => stdClass Object
                                                (
                                                    [text] => CGMA Thought Leadership
                                                    [href] => https://www.cgma.org/resources.html#?tab-1=1
                                                    [hrefDomain] => cgma.org
                                                    [isOutbound] => 1
                                                )

                                            [9] => stdClass Object
                                                (
                                                    [text] => Tools, resources and support
                                                    [href] => https://www.cimaglobal.com/professionalism/ethics/
                                                    [hrefDomain] => cimaglobal.com
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://www.aicpa-cima.com/content/dam/aicpanas/logos/logo-association-international-certified-professional-accountants_og.png
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management accountants lead from the heart of business, working within organizations to identify opportunities, reveal insights and make the big strategic decisions that shape a business’ future. We recognize the critical role management accountants play in driving economic profitability and are committed to delivering cutting-edge and relevant research, tools, and market insights to help finance professionals fine-tune and develop their skills to meet the demands of the new global marketplace. Leading Management Accounting Global Management Accounting Principles are based on input from employers around the world and establish a blueprint for management accounting best practices. CGMA Competency Framework is grounded in research with employers and academics globally to identify and assess the technical, business, people and leadership skills required of finance professionals. CGMA designation develops and recognizes finance professionals with the strategic thinking and real-life business skills employers are seeking. Candidates qualify for the CGMA by meeting rigorous education, exam and experience requirements. Essential Tools for Management Accountants is a comprehensive collection of key tools to help define and manage organizational strategy, resources, customers and costs. Risk Management Risk Management Toolkit provides practical tools and resources to help accountants and organizations establish robust risk processes. Decision Making Research and Insight from global CEOs provide best practices to achieve agile decision making. Cost Transformation Cost Transformation Model includes case studies and a framework for transforming and managing a business’ cost-competitiveness.  Global Insights CGMA Thought Leadership provides the latest business intelligence to help you stay ahead of emerging issues and trends. Ethics Tools, resources and support to guide management accountants in ethical decision making.
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 9
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 6
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 6
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 5
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => insight
                                            [tf] => 5
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => global
                                            [tf] => 5
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => cgma
                                            [tf] => 5
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => tool
                                            [tf] => 5
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 4
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 4
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => finance professional
                                            [tf] => 3
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 3
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => decision making
                                            [tf] => 3
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => research
                                            [tf] => 3
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => finance
                                            [tf] => 3
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => professional
                                            [tf] => 3
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => skill
                                            [tf] => 3
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 3
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => employer
                                            [tf] => 3
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => resource
                                            [tf] => 3
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => risk
                                            [tf] => 3
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => making
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 46
                            [rank] => 321517
                        )

                    [24] => stdClass Object
                        (
                            [position] => 25
                            [title] => MPS in Management - Accounting Specialization | Cornell Johnson
                            [url] => https://www.johnson.cornell.edu/programs/mps-in-management-accounting-specialization/
                            [destination] => https://www.johnson.cornell.edu › Programs
                            [description] => Become a successful leader in the accounting field by taking the one-year STEM-designated MPS in Management – Accounting Specialization program at Cornell
                            [isAmp] => 
                            [organic_position] => 24
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => MPS in Management - Accounting Specialization
                            [serp_description] => Become a successful leader in the accounting field by taking the one-year STEM-designated MPS in Management – Accounting Specialization program at Cornell.
                            [hostname] => johnson.cornell.edu
                            [canonical] => https://www.johnson.cornell.edu/programs/mps-in-management-accounting-specialization/
                            [h1] => MPS in Management – Accounting Specialization
                            [h2] => Array
                                (
                                    [0] => Invest one year of your time in this STEM-designated program to become an expert and leader in accounting
                                    [1] => What makes the MPS in Management – Accounting Specialization program unique?
                                    [2] => Beyond Accounting
                                    [3] => MPS in Management-Accounting Specialization Events
                                    [4] => MPS in Management - Accounting Specialization BusinessFeed
                                    [5] => Lessons learned: Recruitment tips from MPS in Management – Accounting alumni
                                    [6] => Johnson recognizes 2019 award winners across nine academic programs
                                    [7] => Interdisciplinary work is the new frontier, and Cornell is leading the way
                                    [8] => Student Profiles
                                    [9] => Are you a good fit for the MPS in Management - Accounting Specialization program?
                                    [10] => Ready to take your career to the next level?
                                )

                            [h3] => Array
                                (
                                    [0] => A new kind of accounting curriculum
                                    [1] => World-renowned faculty and a hands-on approach
                                    [2] => Intimate, personalized classes and the Johnson community
                                    [3] => Admissions quick links:
                                    [4] => Application deadlines for the MPS in Management – Accounting Specialization program:
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Invest one year of your time in this STEM-designated program to become an expert and leader in accounting
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => What makes the MPS in Management – Accounting Specialization program unique?
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Beyond Accounting
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => MPS in Management-Accounting Specialization Events
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => MPS in Management - Accounting Specialization BusinessFeed
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Lessons learned: Recruitment tips from MPS in Management – Accounting alumni
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => Johnson recognizes 2019 award winners across nine academic programs
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Interdisciplinary work is the new frontier, and Cornell is leading the way
                                        )

                                    [8] => stdClass Object
                                        (
                                            [text] => Student Profiles
                                        )

                                    [9] => stdClass Object
                                        (
                                            [text] => Are you a good fit for the MPS in Management - Accounting Specialization program?
                                        )

                                    [10] => stdClass Object
                                        (
                                            [text] => Ready to take your career to the next level?
                                        )

                                )

                            [modified_time] => stdClass Object
                                (
                                    [lastUpdate] => 
                                    [dateFormatted] => 2o December 2021
                                    [dateISO] => 2021-12-02T16:15:56+00:00
                                )

                            [type] => article
                            [wordCount] => 1036
                            [imgCount] => 8
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 17
                                    [outboundSize] => 1
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => Play video about "Beyond Accounting"
                                                    [href] => https://www.youtube.com/watch?v=KUGBlVoDbKI
                                                    [hrefDomain] => youtube.com
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Invest one year of your time in this STEM-designated program to become an expert and leader in accounting. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What makes the MPS in Management – Accounting Specialization program unique?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 

	
	Beyond Accounting

	
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => A new kind of accounting curriculum. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => World-renowned faculty and a hands-on approach. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Intimate, personalized classes and the Johnson community. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => MPS in Management-Accounting Specialization Events. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => MPS in Management - Accounting Specialization BusinessFeed. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 

	
	Lessons learned: Recruitment tips from MPS in Management – Accounting alumni

	
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 

	
	Johnson recognizes 2019 award winners across nine academic programs

	
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 

	
	Interdisciplinary work is the new frontier, and Cornell is leading the way

	
. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [8] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Student Profiles. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [9] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Are you a good fit for the MPS in Management - Accounting Specialization program?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [10] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Ready to take your career to the next level?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Admissions quick links:. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Application deadlines for the MPS in Management – Accounting Specialization program:. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                )

                            [schema_type] => Array
                                (
                                    [0] => EducationalOrganization
                                    [1] => BreadcrumbList
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => MPS in Management – Accounting Specialization Invest one year of your time in this STEM-designated program to become an expert and leader in accounting. The STEM-designated MPS in Management – Accounting Specialization program prepares students to take the CPA exam and to become successful leaders and managers in the field of accounting. What makes the MPS in Management – Accounting Specialization program unique? An accelerated accounting curriculum that will provide you with the accounting and business expertise necessary to stand out and lead. Johnson’s STEM-designated MPS in Management – Accounting Specialization program is differentiated by its flexibility, both in the entry requirements and the type of accounting and management electives available through the Cornell SC Johnson College of Business, allowing our students to customize their experience based on their areas and industries of interest. Play video about "Beyond Accounting" Beyond Accounting . Recent alumni tell how the MPS in Management – Accounting Specialization prepared them for a career beyond just accounting. A new kind of accounting curriculum. The MPS Management – Accounting Specialization STEM-designated degree program provides the ideal curriculum combination of core and electives by allowing students to complement a complete and rigorous technical accounting core with the depth and range of graduate electives of one of the world’s top MBA programs. This innovative program allows students to immerse themselves in industries like public accounting, financial services, real estate, or consulting and develop the professional skills necessary for success. The MPS in Management – Accounting Specialization program not only prepares students for their first job, but also for the career progression necessary to achieve their goals. World-renowned faculty and a hands-on approach. Students in the MPS in Management – Accounting Specialization program learn from premier research and practitioner-focused faculty from Johnson, Dyson School, and Nolan School at the picturesque Cornell University campus, located in Ithaca, New York. Our faculty not only teach, but engage with their students and present real business problems that need solving. In addition to focusing on the fundamentals of accounting, our programming provides students with a broader quantitative and qualitative skill set, which enables students to analyze and communicate results with a greater understanding of the various strategic implications of their work. This approach allows our graduates to provide clients with an unparalleled, “value-added” service that sets them apart from their competitors. Intimate, personalized classes and the Johnson community. Our faculty and resources set the MPS in Management – Accounting Specialization apart from other accounting programs. Each student in the program will receive a customized, faculty-advisor-approved academic plan that outlines their career objectives and assures that those objectives can be met with the courses selected in the program. Here, faculty truly care about their students and mentor and support them in meeting their career objectives. In addition, all students benefits from the extensive resources that comes with being a part of the Cornell SC Johnson College of Business. This means that students can take classes from any of the three schools that make up the college, as well as partake in a number of clubs, events, and activities. Upon graduation, MPS in Management – Accounting Specialization students will join our comprehensive and powerful alumni network. MPS in Management-Accounting Specialization Events. There are no events to display. MPS in Management - Accounting Specialization BusinessFeed. September 27, 2019 Lessons learned: Recruitment tips from MPS in Management – Accounting alumni . Now with careers in the accounting field, MPS in Management – Accounting alumni share tips for current students during recruitment season. May 24, 2019 Johnson recognizes 2019 award winners across nine academic programs . Several students across Johnson’s seven MBA programs and two MPS programs were recognized for their achievements, contributions, and academic performance. May 14, 2019 Interdisciplinary work is the new frontier, and Cornell is leading the way . As part of the practicum he participated in, Angus J. McKenzie, MPS ’19, provided services to low-income taxpayers from diverse communities. Student Profiles. “Until you experience Cornell, it is hard to understand the opportunities that come from it. The Cornell network is so vast and international, you always have Cornellians who have your back.” — Maria A. Lopez “I was able to expand my horizons not only in accounting, but also in finance and management, and really build my network. I’m looking forward to being a young professional with the skills I obtained from Cornell’s MPS program.” — Charles Mauser The MPS in Management – Accounting Specialization’s class composition includes students with a wide variety of experiences, academic backgrounds, and career goals. Read what makes this program unique directly from our students. Explore student profiles Are you a good fit for the MPS in Management - Accounting Specialization program? The MPS in Management – Accounting Specialization curriculum is best suited for those looking to master accounting or those early in their careers and looking to transition into accounting from another business field, with some accounting experience. Students accepted into the program must meet the following prerequisites: For Cornell students: Completion of Bachelor’s Degree from Dyson or Nolan School and Intermediate Accounting I -or- The Cornell Undergraduate Business Minor and Intermediate Accounting I GMAT (preferred) / GRE (accepted)* For students outside of Cornell: Completion of Bachelor’s Degree Coursework will be evaluated to determine equivalency to the Cornell Business Minor (must include Financial Accounting, Finance, Economics, Marketing, Management, Statistics, and Intermediate Accounting I) GMAT (preferred) / GRE (accepted) *For Cornelians who graduated with a business minor in the last 2 years, application fee and testing will be waived with achievement of a minimum undergraduate cumulative GPA. Ready to take your career to the next level? Admissions quick links:. Applications guide Tuition and funding Learn more about the program Application deadlines for the MPS in Management – Accounting Specialization program:. Applicants must submit all application components by the application deadline listed for each round in order to be considered in that round. Incomplete applications will not be reviewed. For Fall Intake Round One: December 1 Round Two: January 15 Round Three: March 1 Round Four: April 15 For Spring Intake October 15* *After round deadlines, applications will be received and reviewed on a case-by-case basis.
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 42
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => student
                                            [tf] => 23
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => mp
                                            [tf] => 22
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 21
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => program
                                            [tf] => 21
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => mp management accounting
                                            [tf] => 18
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => mp management
                                            [tf] => 18
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 18
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => accounting specialization
                                            [tf] => 17
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => specialization
                                            [tf] => 17
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => management accounting specialization
                                            [tf] => 16
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => cornell
                                            [tf] => 13
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => johnson
                                            [tf] => 10
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => round
                                            [tf] => 9
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 9
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => career
                                            [tf] => 8
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => accounting specialization program
                                            [tf] => 7
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => specialization program
                                            [tf] => 7
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => faculty
                                            [tf] => 7
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => application
                                            [tf] => 7
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => minor
                                            [tf] => 6
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => school
                                            [tf] => 6
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => intermediate accounting
                                            [tf] => 5
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => business minor
                                            [tf] => 5
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => stem designated
                                            [tf] => 5
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => stem
                                            [tf] => 5
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => class
                                            [tf] => 4
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => intermediate
                                            [tf] => 4
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => designated
                                            [tf] => 4
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => curriculum
                                            [tf] => 4
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => experience
                                            [tf] => 4
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => alumnus
                                            [tf] => 4
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => academic
                                            [tf] => 4
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => 2019
                                            [tf] => 4
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => program student
                                            [tf] => 3
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => objectif
                                            [tf] => 3
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => event
                                            [tf] => 3
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => network
                                            [tf] => 3
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => accepted
                                            [tf] => 3
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => deadline
                                            [tf] => 3
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => 15
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 48
                            [rank] => 59869
                        )

                    [25] => stdClass Object
                        (
                            [position] => 26
                            [title] => Bachelor of Business Administration Management Accounting
                            [url] => https://www.amberton.edu/programs-and-courses/bachelors-degree-programs/management-accounting/index.html
                            [destination] => https://www.amberton.edu › bachelors-degree-programs
                            [description] => Overview for the BBA/Management Accounting at Amberton University
                            [isAmp] => 
                            [organic_position] => 25
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Bachelor of Business Administration Management Accounting
                            [serp_description] => Overview for the BBA/Management Accounting at Amberton University.
                            [hostname] => amberton.edu
                            [canonical] => https://www.amberton.edu/programs-and-courses/bachelors-degree-programs/management-accounting/index.html
                            [h1] => Programs: Bachelor of Business Administration / Management Accounting
                            [h2] => Array
                                (
                                    [0] => Program Overview
                                    [1] => Degree Plan Overview
                                    [2] => Get Your Bachelor of Business Administration in Management Accounting at Amberton University
                                    [3] => What Is a Bachelor’s in Business Administration?
                                    [4] => What Are the Requirements?
                                    [5] => Who Are the Ideal Candidates?
                                    [6] => In Which Industries Can This Degree Be Applied?
                                    [7] => Specific Amberton Degree Offerings
                                    [8] => 972-279-6511 972-279-6511
                                )

                            [h3] => Array
                                (
                                    [0] => Main Menu
                                    [1] => Popular Topics
                                    [2] => Search
                                    [3] => Get More Information
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Program Overview
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Degree Plan Overview
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Get Your Bachelor of Business Administration in Management Accounting at Amberton University
                                        )

                                    [3] => stdClass Object
                                        (
                                            [text] => What Is a Bachelor’s in Business Administration?
                                        )

                                    [4] => stdClass Object
                                        (
                                            [text] => What Are the Requirements?
                                        )

                                    [5] => stdClass Object
                                        (
                                            [text] => Who Are the Ideal Candidates?
                                        )

                                    [6] => stdClass Object
                                        (
                                            [text] => In Which Industries Can This Degree Be Applied?
                                        )

                                    [7] => stdClass Object
                                        (
                                            [text] => Specific Amberton Degree Offerings
                                        )

                                    [8] => stdClass Object
                                        (
                                            [text] => 972-279-6511 972-279-6511
                                        )

                                )

                            [type] => website
                            [wordCount] => 1374
                            [imgCount] => 5
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 38
                                    [outboundSize] => 0
                                    [list] => Array
                                        (
                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 3
                                            [name] => 
                                    Main Menu
                                . 
                                            [tag] => h3
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Popular Topics. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Search. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Get More Information. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Program Overview. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 4
                                                            [name] => Program Details. 
                                                            [tag] => h4
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Degree Plan Overview. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [3] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Get Your Bachelor of Business Administration in Management Accounting at Amberton University. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [4] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Is a Bachelor’s in Business Administration?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [5] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => What Are the Requirements?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [6] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Who Are the Ideal Candidates?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [7] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => In Which Industries Can This Degree Be Applied?
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [8] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Specific Amberton Degree Offerings. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 4
                                                            [name] => 
        
            Great!
            Wait!
        Let's Get You the Info You're Looking For.
                                                            [tag] => h4
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                )

                                        )

                                    [9] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 
                972-279-6511
                972-279-6511
            . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => http://www.amberton.edu/media/amberton-opengraph.jpg
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Programs: Bachelor of Business Administration / Management Accounting Get More Information. Program Overview. Students emerge from the BBA in Management Accounting program prepared for entry-level positions in business administration and management accounting that command a blend of management-level skills necessary to add value, drive performance, and build quality financial practices within organizations. Graduates are prepared for career specialty areas in financial analysis, budget preparation, financial management, management accounting, government, finance, and consulting. This program can be completed with a combination of in-class and online courses or 100% online. Program Details. Get the full details and requirements for Bachelor of Business Administration / Management Accounting. Full Program Details Apply Now Degree Plan Overview. Requirements Hours General Education Requirements 45 Hours General Electives 15 Hours Major Requirements 60 Hours 120 Total Hours Full Degree Plan Requirements Get Your Bachelor of Business Administration in Management Accounting at Amberton University. Are you an undergraduate student (or soon-to-be undergraduate student) looking to give yourself the foundation you need for a career in business? If so, our Bachelor of Business Administration (BBA) in Management Accounting might be the right path for you. The undergraduate degree path combines business administration acumen with valuable management accounting courses, giving students numerous professional career options to consider upon graduation. What Is a Bachelor’s in Business Administration? A BBA degree is an undergraduate credential intended to give students the foundation they need to embark upon careers in business. BBA degrees, which are available in numerous variations, teach skills that are easily applicable to real-world business environments. For instance, students who enroll in Amberton’s BBA accounting management program will gain valuable skills in both business administration and management accounting. Such skills can be applied to a range of financial functions within a business environment, including financial analysis, financial management, and budget preparation. Management accounting professionals with business administration skills are extremely valuable to organizations, as they can help implement financial practices that not only ensure stability and regulatory compliance but also drive performance and growth. What Are the Requirements? Amberton’s Bachelor of Business Administration in Management Accounting is a 120-credit-hour program that can be completed by taking a combination of in-person and online courses. Some Amberton programs are available 100% online, but this one requires students to attend some courses in-person at one of our two campuses in Texas (in Garland and Frisco). As this program is a full undergraduate degree, it has the same basic structure of other degree programs: 50 percent major requirements, 50 percent electives and general education requirements. There are no prerequisite requirements to this degree, though all students must meet our undergraduate admissions standards. The types of courses required for this Bachelor of Business Administration Management Accounting degree include a mix of business courses and management accounting courses. On the business side, students will study economics, business law, marketing, business ethics, and business policy. On the accounting side, students will take courses in finance, auditing, and statistical analysis, along with courses for beginner, intermediate, and advanced accounting work. General Education requirements, meanwhile, are the same for all undergraduate students studying at Amberton. Students must fulfill requirements in nine Gen-Ed fields, including Behavioral Science, Communications, Computer Concepts, English, History and/or Government, Humanities, Mathematics, Natural Science, and Religion. In each field, students will have a varied selection of different subjects and courses from which to choose. As for electives, students are free to select courses that align with their interests. All told, the degree program breaks down to 60 major requirements, 45 General Education requirements, and 15 elective requirements. You can learn more about the specific requirements on our BBA in Management Accounting Degree Plan Details page. Who Are the Ideal Candidates? To answer this question, let’s look at two different types of bachelor’s accounting degrees: the BBA in management accounting and the Bachelor of Science (BS) in accounting. If you are interested in a career in accounting, you might be weighing the pros and cons of a BBA vs a BS in accounting. Knowing the differences between these two degree programs will help give you a better sense of which one is right for you. A BBA in management accounting, as we have already discussed, is an undergraduate accounting degree that combines technical accounting courses with general business courses. Students who take this route will gain a deep understanding of the roles that accounting, budgeting, and financial strategy play in a larger business context. Their knowledge will prepare them to work in accounting or financially-minded roles for businesses of many sizes, spanning many industries. A BS in accounting is more squarely focused on the technical and mathematical aspects of accounting. A graduate of this type of program would be likely to become a Certified Public Accountant (CPA) or some other type of professional accountant. While these individuals certainly could go into corporate finance if they wanted to do so, they would be more likely to work for an accounting firm or financial institution. Students who are interested in finance and mathematics but are also drawn to the business world are good candidates for the BBA in management accounting. Management accountants work internally with businesses to audit the books, identify issues, and recommend improved financial strategies. They can play a crucial role in shaping policies and growth initiatives at firms, which will appeal to students whose passions rest somewhere between the technical mathematics of accounting and the more open-ended pursuits of business administration. Accounting students who are interested in potentially going on to attain their Master’s in Business Administration (MBA) are also well-suited to the management accounting BBA path. In Which Industries Can This Degree Be Applied? The job description of a management accountant is to: Familiarize oneself with a business’s internal financial policies and procedures Monitor spending, sales, and revenues Establish and monitor budgets Audit company finances Track financial trends in the organization Use knowledge to advise company leaders on decisions that impact finances These responsibilities and the benefits they can provide when done well are not unique to one sector or industry. As a result, qualified management accounting professionals are highly in-demand across businesses and organizations of all types and settings. Large public corporations, small private companies, nonprofit organizations, and government departments are all in need of the services and insights that a management accountant can provide. A graduate with a degree from a reputed accounting management institution will have no shortage of job opportunities, even at the entry-level. Specific Amberton Degree Offerings. In addition to our BBA in management accounting, Amberton also offers a range of other degree programs that may be of interest to you. For instance, we offer several other BBA programs through our institution, including: BBA in Accounting BBA/MBA in Accounting (Dual program) BBA in General Business BBA in Management BBA in Project Management If you aren’t sure which BBA program is right for you, we would be happy to chat with you in greater detail about the opportunities we offer. Contact us today to learn more.   Apply Now Get Info Now 972-279-6511 Great! Wait! Let's Get You the Info You're Looking For. Advisors can help provide you answers. 972-279-6511 972-279-6511 . Flexible In-Person Options Designed for Working Adults OR Conveniently Online
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 40
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 33
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 30
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 20
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => student
                                            [tf] => 20
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => bba
                                            [tf] => 19
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => program
                                            [tf] => 18
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => degree
                                            [tf] => 18
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => business administration
                                            [tf] => 15
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => requirement
                                            [tf] => 15
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => cours
                                            [tf] => 14
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => administration
                                            [tf] => 13
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => bachelor
                                            [tf] => 12
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 12
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => undergraduate
                                            [tf] => 10
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => amberton
                                            [tf] => 9
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => bachelor business
                                            [tf] => 8
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => bba management
                                            [tf] => 8
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => business administration management
                                            [tf] => 7
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => administration management accounting
                                            [tf] => 7
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => bba management accounting
                                            [tf] => 7
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => administration management
                                            [tf] => 7
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => general
                                            [tf] => 7
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => bachelor business administration
                                            [tf] => 6
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => finance
                                            [tf] => 6
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => hour
                                            [tf] => 6
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => undergraduate student
                                            [tf] => 5
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => accounting degree
                                            [tf] => 5
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => skill
                                            [tf] => 5
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 5
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => career
                                            [tf] => 5
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => online
                                            [tf] => 5
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => detail
                                            [tf] => 5
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => type
                                            [tf] => 5
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => accountant
                                            [tf] => 5
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => general education requirement
                                            [tf] => 4
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => general education
                                            [tf] => 4
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => education requirement
                                            [tf] => 4
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => degree program
                                            [tf] => 4
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => full
                                            [tf] => 4
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => education
                                            [tf] => 4
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => professional
                                            [tf] => 4
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => work
                                            [tf] => 4
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => 972 279 6511
                                            [tf] => 3
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => degree plan
                                            [tf] => 3
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => major requirement
                                            [tf] => 3
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => accounting cours
                                            [tf] => 3
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => accounting management
                                            [tf] => 3
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => b accounting
                                            [tf] => 3
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 3
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => 972 279
                                            [tf] => 3
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => 279 6511
                                            [tf] => 3
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => 279
                                            [tf] => 3
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => 6511
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 40
                            [rank] => 2310247
                        )

                    [26] => stdClass Object
                        (
                            [position] => 27
                            [title] => Management Accounting: Expanding Relevance - Strategic Finance
                            [url] => https://sfmagazine.com/post-entry/june-2019-management-accounting-expanding-relevance/
                            [destination] => https://sfmagazine.com › post-entry › june-2019-manag...
                            [isAmp] => 
                            [date] => Jun 1, 2019
                            [organic_position] => 26
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Management Accounting: Expanding Relevance - Strategic ...
                            [serp_description] => They've gone from cost accounting to management accounting via concepts such as the matching principle, standard costing, budgeting, Lean ...
                            [hostname] => sfmagazine.com
                            [canonical] => https://sfmagazine.com/post-entry/june-2019-management-accounting-expanding-relevance/
                            [h1] => Management Accounting: Expanding Relevance
                            [h2] => Array
                                (
                                    [0] => IMA |
                                )

                            [h3] => Array
                                (
                                    [0] => THE EARLY YEARS: 1919-1969
                                    [1] => THE NEXT 50 YEARS: 1969-2019
                                    [2] => THE NEXT PHASE
                                    [3] => Kenneth A. Merchant
                                    [4] => Marc J. Epstein
                                    [5] => Robert S. Kaplan
                                    [6] => Further Reading
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => IMA |
                                            [id] => category-name
                                        )

                                )

                            [type] => article
                            [wordCount] => 2972
                            [imgCount] => 18
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 53
                                    [outboundSize] => 8
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => https://mck.co/2VSQHb7
                                                    [href] => https://mck.co/2VSQHb7
                                                    [hrefDomain] => mck.co
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => “The Contribution of the Harvard Business School to Management Control, 1908–1980”
                                                    [href] => http://bit.ly/2HJKMLp
                                                    [hrefDomain] => bit.ly
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => “Robert N. Anthony: A Pioneering Thinker in Management Accounting”
                                                    [href] => http://bit.ly/2Enk8qW
                                                    [hrefDomain] => bit.ly
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => “Time-Driven Activity-Based Costing”
                                                    [href] => http://bit.ly/2X5P4mE
                                                    [hrefDomain] => bit.ly
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => Subscribe To SF Magazine
                                                    [href] => https://www.imaonlinestore.com/PersonifyEbusiness/Product-Details/productid/107
                                                    [hrefDomain] => imaonlinestore.com
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.facebook.com/StrategicFinanceMag
                                                    [hrefDomain] => facebook.com
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://twitter.com/SFMagazineIMA
                                                    [hrefDomain] => twitter.com
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.linkedin.com/company/strategic-finance-magazine?trk=biz-companies-cym
                                                    [hrefDomain] => linkedin.com
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => 
                                IMA                                 | 
                            . 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                    [0] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => THE EARLY YEARS: 1919-1969. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [1] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => THE NEXT 50 YEARS: 1969-2019. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [2] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => THE NEXT PHASE. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [3] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Kenneth A. Merchant. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [4] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Marc J. Epstein. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [5] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Robert S. Kaplan. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                )

                                                        )

                                                    [6] => stdClass Object
                                                        (
                                                            [level] => 3
                                                            [name] => Further Reading. 
                                                            [tag] => h3
                                                            [children] => Array
                                                                (
                                                                    [0] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => Notice of Terminations. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [1] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => Workplace D&I Adapts in a Time of Protests. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [2] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => IMA Volunteerism: Drawn to Service. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [3] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => LINK UP WITH IMA. 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [4] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 
            Leadership & Careers            . 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [5] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 
            Measurement            . 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [6] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 
            Management            . 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [7] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 
            Technology            . 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                    [8] => stdClass Object
                                                                        (
                                                                            [level] => 4
                                                                            [name] => 
            Leadership & Careers            . 
                                                                            [tag] => h4
                                                                            [children] => Array
                                                                                (
                                                                                )

                                                                        )

                                                                )

                                                        )

                                                )

                                        )

                                )

                            [og] => stdClass Object
                                (
                                    [ogImage] => https://sfmagazine.com/wp-content/uploads/6IMA100frigo-100.jpg
                                )

                            [schema_type] => Array
                                (
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Management Accounting: Expanding Relevance By Mark L. Frigo, CMA, CPA, and Kathy Williams June 1, 2019 During the last 100 years, IMA and management accounting have evolved significantly. They’ve gone from cost accounting to management accounting via concepts such as the matching principle, standard costing, budgeting, Lean accounting, total quality management, the Theory of Constraints, Just-in-Time, activity-based costing (ABC), the balanced scorecard, and now data analytics, AI, machine learning, blockchain, robotic process automation, and more.   A few of the leaders in the major developments of the profession are Major J. Lee Nicholson, Robert N. Anthony, Ross G. Walker, Charles T. Horngren, Robert S. Kaplan, Eliyahu M. Goldratt, James O. McKinsey, Marc J. Epstein, and Kenneth A. Merchant. They and others have taken the management accounting profession to where it is today.   THE EARLY YEARS: 1919-1969.   In October 1919, when Major J. Lee Nicholson founded the National Association of Cost Accountants (NACA), now IMA, cost accounting was starting to gain prominence. Known as the “father of cost accounting,” Nicholson led this effort to determine and account for product and other costs (see “IMA Pioneers: Four Who Made a Difference”) The focus on cost accounting lasted until the early 1950s when it shifted to management accounting, which emphasized providing accounting information to use for management planning and control. Since then, management accounting has expanded to include strategy, strategy execution, and much more.   Management accountants also led the way in the invention of management consulting. In 1926, James O. McKinsey, a University of Chicago professor and expert on management accounting, established his consulting firm, McKinsey & Company. He set an enduring tone of independence and established a commitment to rigorous research and training. He also is credited with writing the first textbook on business budgeting, Budgetary Control, published in 1922, and the first textbook on management accounting, Managerial Accounting, Vol. 1, published in 1924.   Marvin Bower, managing director of the firm from 1950 to 1967, also was a major force in shaping the firm and its core values and was considered the father of modern management consulting. He stressed integrity and established standards for the firm so its work would always be respected. For more, visit https://mck.co/2VSQHb7.   Universities played a part in the evolution, too. Some of those events are outlined in “The Contribution of the Harvard Business School to Management Control, 1908–1980” by Stephen A. Zeff in the Journal of Management Accounting Research, Special Issue 2008.   This article documents and discusses the evolution of management control, which includes management and financial accounting, in the Harvard Business School from 1908 to 1980. It emphasizes the roles of the key movers, Ross G. Walker and Robert N. Anthony. Simultaneous developments at Massachusetts Institute of Technology and the University of Chicago also are covered in the article.   THE NEXT 50 YEARS: 1969-2019.   In the second 50 years, innovations in management accounting have been prolific and have continued to enhance how management accountants think and work. ABC, performance measurement, the balanced scorecard, Lean accounting, management control systems, and strategy maps are just a few. (See the timeline below for some of the major milestones, the following sections about Kenneth Merchant, Marc Epstein, and Robert Kaplan for an in-depth analysis, and “Further Reading” at the end of the article.)   THE NEXT PHASE.   What’s ahead for management accountants? It’s about becoming expert in and using the latest digital technology such as blockchain, AI, augmented reality, data analytics, and more to make decisions that improve businesses and society. Management accounting also will continue to develop as a strategic discipline focused on helping companies create long-term sustainable value. That’s only the beginning.     Kenneth A. Merchant.     Kenneth A. Merchant, Deloitte & Touche LLP Chair in Accountancy at the University of Southern California, discusses the top innovations in management accounting during the last 50 years and the current state of management accounting in academia in the United States, Europe, and Asia.   SF: Based on your experience, what would you consider the top three innovations in management accounting during the last 50 years?   Merchant: They are activity-based costing, balanced scorecards, and management control systems frameworks. ABC refreshed our thinking about the purposes of product costing and cost accounting (to make better decisions) and showed us better methods of assigning indirect costs to cost objects (far better than “peanut butter spreading-like” allocations). The balanced scorecard framework described how to develop an integrated information system while maintaining a clear focus on both organizational goals and strategies. Importantly, the integration included both financial and nonfinancial measures and goals and responsibilities up and down the management hierarchy.   Many management control systems frameworks have been developed and described in the last 50 years. Some focus on the elements of these complex systems, which can involve, for example, performance measures and incentives, required policies and procedures, direct supervision, internal audits, and/or a strong corporate culture, and show how those elements can be substitutes or complements. Some show how certain design features are related to specific outcomes, both positive and negative. Some show how the outcomes depend more on the styles in which the systems are used than the specifics of the system design. Perhaps most importantly, these frameworks put accounting-type controls in perspective: They demonstrate clearly that the use of performance-dependent incentive systems often isn’t the preferred control option.   SF: As a long-term academic in management accounting, how would you describe the current state of management accounting in academia in the U.S., in Europe, and in Asia?   Merchant: Management accounting is as relevant in practice as it has ever been. The methods and tools of management accounting are in common use and have become even more important in the fast-moving world we live in. In U.S. academia, though, there are some worrisome trends. As business schools place more curricular emphasis on “newer” subjects like ethics, business communications, entrepreneurship, and corporate social responsibility, the teaching of management accounting is being cut back. In many schools, it has been removed from MBA curricula entirely.   To allow the introduction of the new courses, each academic department has to bear its “fair share” of the cuts. Since financial accountants dominate most accounting departments, they win every departmental vote (and most department decisions do come down to a vote). The management accounting courses are sacrificed, even in executive MBA programs where it can be easily argued that management accounting is far more relevant to most of the students’ careers than is financial accounting.   This cutback has a ripple effect. With fewer courses to teach, fewer management accounting professors are needed, and, as a consequence, management accounting Ph.D. programs are being reduced in size. These cutbacks will result in less management accounting research output, and academic development of the field will suffer. It is a significant downward trend in the U.S.   The potential saving grace, however, is that management accounting academia in Europe and Asia is stronger than it has ever been, and its size and importance continue to grow. The field of management accounting will continue to develop. But an easy prediction is that leadership in the field will increasingly come from academics in Europe and Asia and, of course, forward-looking practitioners. Marc J. Epstein.     Marc J. Epstein was, until 2014, Distinguished Research Professor of Management at Jones Graduate School of Management at Rice University in Houston, Texas. Prior to joining Rice, he was a professor at Stanford Business School, Harvard Business School, and INSEAD (European Institute of Business Administration). In both academic research and managerial practice, he is considered one of the global leaders in the areas of innovation, sustainability, social impact, and accountability in corporations and not-for-profit organizations. He is the author of more than 20 books and 200 articles.   SF: Please describe what you believe are the major themes of your work in management accounting.   Epstein: Management accounting is critical to provide information for management decision making. As society and for-profit and nonprofit organizational needs change, management accounting must change also. Much of my work has focused on the application of performance measurement and management control to improve organizations and society.   From my extensive work on corporate social responsibility in the U.S. beginning in the 1970s with IMA and continuing with work in business approaches to improving health and education in sub-Saharan Africa, Asia, and South America, a common theme was how performance measurement and management control systems could improve both organizations and society, including improving the environment, alleviating global poverty, and improving the lives of customers, employees, suppliers, and other stakeholders. My research, writing, and speaking over the past decades focused on using management accounting concepts and tools to improve the performance and the social impact of organizations.   I have written two books on innovation, applying management accounting and control concepts to improve the ability of organizations to achieve more of both incremental and breakthrough innovation.   Another major theme of my work has been the importance of organizational and individual accountability, including personal and organizational ethics and culture. This accountability includes both transparency and governance. It involves further clarifying the roles and responsibilities of boards of directors in for-profit and nonprofit organizations and then developing tools for measuring the performance of both boards and board members for accountability and to improve board and organizational performance.   SF: What is the current focus of your latest work?   Epstein: I remain active in sustainability and social impact, innovation, and governance. I have just completed a book titled The Brilliant Jerk Conundrum: Thriving with and Governing a Dominant Visionary. This book is at the nexus of my work on innovation and governance. It focuses on how boards can know the difference between inspired visionaries like Steve Jobs, a firebrand entrepreneur like Elon Musk, and a potentially hazardous leader like Elizabeth Holmes and if, when, and how to intervene.   I am also working on a book on business ethics that examines why after decades of CEO pronouncements of the importance of business ethics, chief ethics and compliance officers in corporations, and mandatory corporate ethics training programs, corporate ethical violations and frauds continue unabated. Is it because of bad apples, or is it the organization that doesn’t have adequate management control and governance or has misaligned incentives—or some combination of these? The book provides some answers to these questions and innovative solutions for organizations.   SF: What are some of the major forces of change in the way companies are doing business that you think will impact management accounting?   Epstein: Throughout the world, there is a growing recognition that management accounting has an increasingly broader and more critical role and responsibility for the success of enterprises. The trend includes the increased importance of financial executives not only related to managing the finance and accounting functions but taking a seat at the table in all management decisions. Thus, management accounting now includes the use of new digital technologies such as blockchain, AI, and augmented reality to improve organizational operations and decisions.   It also now includes the integration and measurements related to improving performance related to areas such as innovation, sustainability, and corporate governance. As the collection, processing, and management of information becomes more routine, management accountants will be able to devote more time and skills to the critical decisions related to the organizational structures, systems, and decisions that improve businesses, not-for-profit organizations, governments, and society. These important contributions to society become core to what management accountants do on a daily basis. Robert S. Kaplan.     Robert S. Kaplan is Senior Fellow and Marvin Bower Professor of Leadership Development, Emeritus at the Harvard Business School. A true force and innovator in management accounting, he has authored or coauthored more than 175 journal articles and 14 books, and he has collaborated with H. Thomas Johnson, David P. Norton, Robin Cooper, Michael Porter, and others on some of the most significant advances in management accounting.   In 1987, he and Johnson wrote the book Relevance Lost: The Rise and Fall of Management Accounting, which is an overview of the evolution of management accounting in U.S. businesses from the 1880s textile mills to businesses in the 1980s and how changes needed to be made to management accounting systems so managers could do better long-term planning.   Based on the call for changes in Relevance Lost, Kaplan and Cooper developed the concepts and principles of activity-based costing (ABC), wrote teaching cases about ABC initiatives, used them in their MBA classes, and later helped companies implement ABC. In describing the origins of ABC, Kaplan says, “After we had taught the new cases several times to diverse audiences and given speeches about the phenomena at public conferences, we began to work directly with companies, helping them to implement the new costing approach. We also exposed the ideas to wider audiences by publishing papers in practitioner journals, including Management Accounting, Journal of Cost Management, and Harvard Business Review.   “Our explicit goal in writing these articles was to generate some excitement, enthusiasm, and debate about the new ideas among a broad management audience. At this point, each concept had evolved far enough that it could be named and illustrated with experiences from the initial innovating companies. The experiences from teaching and speaking about the emerging concept enabled us to communicate the essential ideas in ways that were accessible and understandable by a group of practitioners who had no direct experience with the concept, as captured in the initial set of teaching cases.   This communication step was vital. It positioned us as advocates for a new management approach. We could then receive comments and feedback from managers and academics around the world. Even more important, if done well, managers from an entirely new set of organizations will invite the scholars to implement the concept in their organizations. Such new implementations are the most innovative, critical, and controversial aspect of an innovation action research cycle. Without this step, however, the cycle of innovation will be broken and the advancement of new knowledge will cease, or at least, be considerably delayed.”   Kaplan’s next work was developing the balanced scorecard with Norton. They introduced the balanced scorecard in a January-February 1992 Harvard Business Review article titled “The Balanced Scorecard: Measures that Drive Performance” and a 1996 book, The Balanced Scorecard: Translating Strategy into Action. The balanced scorecard was originally introduced to improve corporate performance measurement by balancing lagging metrics of financial performance with nonfinancial metrics that drive future performance.   Their fifth book together, The Execution Premium: Linking Strategy to Operations for Competitive Advantage (2008), captured the accumulated lessons from the previous 15 years by describing how the balanced scorecard has become the No. 1 management system for strategy execution. They also wrote The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment, Strategy Maps: Converting Intangible Assets into Tangible Outcomes, and Alignment: Using the Balanced Scorecard to Create Corporate Synergies.   Kaplan currently works with Porter on introducing time-driven activity-based costing (TDABC) in the healthcare field to deliver superior patient outcomes at significantly lower costs. They described this work in a 2011 Harvard Business Review article, “How to Solve the Cost Crisis in Health Care,” and in the January 2017 Strategic Finance article, “Managing Healthcare Costs and Value.” Further Reading.   Cost Accounting—A Managerial Emphasis by Charles Horngren, Srikant M. Datar, and Madhav V. Rajan Management Control Systems by Robert Anthony and Vijay Govindarajan “Robert N. Anthony: A Pioneering Thinker in Management Accounting” by Jacob G. Birnberg, Accounting Horizons, September 2011 Relevance Lost: The Rise and Fall of Management Accounting by H. Thomas Johnson and Robert S. Kaplan Measuring Corporate Environmental Performance: Best Practices for Costing and Managing an Effective Environmental Strategy by Marc J. Epstein Strategy Maps: Converting Intangible Assets into Tangible Outcomes by Robert S. Kaplan and David P. Norton The Goal: A Process of Ongoing Improvement by Eliyahu M. Goldratt and Jeff Cox and Theory of Constraints by Eliyahu M. Goldratt “The Balanced Scorecard: 20 Years and Counting” by Mark L. Frigo with Robert S. Kaplan and David P. Norton, Strategic Finance, October 2012 “Time-Driven Activity-Based Costing” by Robert S. Kaplan and Steven R. Anderson, Harvard Business Review, 2004, and “Managing Healthcare Costs and Value” by Robert S. Kaplan, Michael E. Porter, and Mark L. Frigo, Strategic Finance, January 2017   Mark L. Frigo, CMA, CPA, Ph.D., is director of the Center for Strategy, Execution and Valuation and the Strategic Risk Management Lab in the Kellstadt Graduate School of Business and Ezerski Endowed Chair of Strategy and Leadership in the School of Accountancy - Driehaus College of Business at DePaul University in Chicago, Ill. He is the author of seven books and more than 125 articles in leading business journals, including Harvard Business Review. He is an advisor to executive teams and boards in the areas of long-term value-creating strategy and strategic risk management. You can reach Mark at [email protected] Kathy Williams is editor-in-chief emeritus of Strategic Finance. You can reach her at [email protected] 0 No Comments You may also like Notice of Terminations. Workplace D&I Adapts in a Time of Protests. IMA Volunteerism: Drawn to Service. LINK UP WITH IMA. January 2022 Subscribe To SF Magazine MORE ON Leadership & Careers . From Controller to CFO Measurement . The Critical First Step To Data Security Management . Strategic Risk in the New Normal Technology . Advancing Digital Transformation Leadership & Careers . Facing the Fourth Industrial Revolution
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 75
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 60
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 43
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 28
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => robert
                                            [tf] => 24
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => kaplan
                                            [tf] => 23
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => cost
                                            [tf] => 15
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => balanced scorecard
                                            [tf] => 14
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => scorecard
                                            [tf] => 14
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => work
                                            [tf] => 14
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => control
                                            [tf] => 14
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => strategy
                                            [tf] => 14
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => performance
                                            [tf] => 14
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => balanced
                                            [tf] => 13
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => system
                                            [tf] => 13
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => epstein
                                            [tf] => 12
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 12
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => innovation
                                            [tf] => 11
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => book
                                            [tf] => 11
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => major
                                            [tf] => 10
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => school
                                            [tf] => 10
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => article
                                            [tf] => 10
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => robert kaplan
                                            [tf] => 9
                                        )

                                    [23] => stdClass Object
                                        (
                                            [term] => harvard business
                                            [tf] => 9
                                        )

                                    [24] => stdClass Object
                                        (
                                            [term] => management control
                                            [tf] => 9
                                        )

                                    [25] => stdClass Object
                                        (
                                            [term] => year
                                            [tf] => 9
                                        )

                                    [26] => stdClass Object
                                        (
                                            [term] => costing
                                            [tf] => 9
                                        )

                                    [27] => stdClass Object
                                        (
                                            [term] => harvard
                                            [tf] => 9
                                        )

                                    [28] => stdClass Object
                                        (
                                            [term] => improve
                                            [tf] => 9
                                        )

                                    [29] => stdClass Object
                                        (
                                            [term] => corporate
                                            [tf] => 9
                                        )

                                    [30] => stdClass Object
                                        (
                                            [term] => concept
                                            [tf] => 8
                                        )

                                    [31] => stdClass Object
                                        (
                                            [term] => decision
                                            [tf] => 8
                                        )

                                    [32] => stdClass Object
                                        (
                                            [term] => strategic
                                            [tf] => 8
                                        )

                                    [33] => stdClass Object
                                        (
                                            [term] => cost accounting
                                            [tf] => 7
                                        )

                                    [34] => stdClass Object
                                        (
                                            [term] => research
                                            [tf] => 7
                                        )

                                    [35] => stdClass Object
                                        (
                                            [term] => organizational
                                            [tf] => 7
                                        )

                                    [36] => stdClass Object
                                        (
                                            [term] => profit
                                            [tf] => 6
                                        )

                                    [37] => stdClass Object
                                        (
                                            [term] => business school
                                            [tf] => 6
                                        )

                                    [38] => stdClass Object
                                        (
                                            [term] => activity based costing
                                            [tf] => 5
                                        )

                                    [39] => stdClass Object
                                        (
                                            [term] => management control system
                                            [tf] => 5
                                        )

                                    [40] => stdClass Object
                                        (
                                            [term] => harvard business review
                                            [tf] => 5
                                        )

                                    [41] => stdClass Object
                                        (
                                            [term] => long term
                                            [tf] => 5
                                        )

                                    [42] => stdClass Object
                                        (
                                            [term] => activity based
                                            [tf] => 5
                                        )

                                    [43] => stdClass Object
                                        (
                                            [term] => based costing
                                            [tf] => 5
                                        )

                                    [44] => stdClass Object
                                        (
                                            [term] => management accountant
                                            [tf] => 5
                                        )

                                    [45] => stdClass Object
                                        (
                                            [term] => 50 year
                                            [tf] => 5
                                        )

                                    [46] => stdClass Object
                                        (
                                            [term] => control system
                                            [tf] => 5
                                        )

                                    [47] => stdClass Object
                                        (
                                            [term] => business review
                                            [tf] => 5
                                        )

                                    [48] => stdClass Object
                                        (
                                            [term] => mark frigo
                                            [tf] => 4
                                        )

                                    [49] => stdClass Object
                                        (
                                            [term] => marc epstein
                                            [tf] => 4
                                        )

                                    [50] => stdClass Object
                                        (
                                            [term] => harvard business school
                                            [tf] => 4
                                        )

                                    [51] => stdClass Object
                                        (
                                            [term] => kaplan david
                                            [tf] => 4
                                        )

                                    [52] => stdClass Object
                                        (
                                            [term] => mark
                                            [tf] => 4
                                        )

                                    [53] => stdClass Object
                                        (
                                            [term] => frigo
                                            [tf] => 4
                                        )

                                    [54] => stdClass Object
                                        (
                                            [term] => marc
                                            [tf] => 4
                                        )

                                    [55] => stdClass Object
                                        (
                                            [term] => kenneth merchant
                                            [tf] => 4
                                        )

                                    [56] => stdClass Object
                                        (
                                            [term] => performance measurement
                                            [tf] => 4
                                        )

                                    [57] => stdClass Object
                                        (
                                            [term] => europe asia
                                            [tf] => 4
                                        )

                                    [58] => stdClass Object
                                        (
                                            [term] => strategic finance
                                            [tf] => 4
                                        )

                                    [59] => stdClass Object
                                        (
                                            [term] => robert anthony
                                            [tf] => 3
                                        )

                                    [60] => stdClass Object
                                        (
                                            [term] => eliyahu goldratt
                                            [tf] => 3
                                        )

                                    [61] => stdClass Object
                                        (
                                            [term] => innovation management accounting
                                            [tf] => 3
                                        )

                                    [62] => stdClass Object
                                        (
                                            [term] => management accounting academia
                                            [tf] => 3
                                        )

                                    [63] => stdClass Object
                                        (
                                            [term] => david norton
                                            [tf] => 3
                                        )

                                    [64] => stdClass Object
                                        (
                                            [term] => anthony
                                            [tf] => 3
                                        )

                                    [65] => stdClass Object
                                        (
                                            [term] => eliyahu
                                            [tf] => 3
                                        )

                                    [66] => stdClass Object
                                        (
                                            [term] => goldratt
                                            [tf] => 3
                                        )

                                    [67] => stdClass Object
                                        (
                                            [term] => strategy execution
                                            [tf] => 3
                                        )

                                    [68] => stdClass Object
                                        (
                                            [term] => university chicago
                                            [tf] => 3
                                        )

                                    [69] => stdClass Object
                                        (
                                            [term] => innovation management
                                            [tf] => 3
                                        )

                                    [70] => stdClass Object
                                        (
                                            [term] => strategy map
                                            [tf] => 3
                                        )

                                    [71] => stdClass Object
                                        (
                                            [term] => accounting academia
                                            [tf] => 3
                                        )

                                    [72] => stdClass Object
                                        (
                                            [term] => social impact
                                            [tf] => 3
                                        )

                                    [73] => stdClass Object
                                        (
                                            [term] => david
                                            [tf] => 3
                                        )

                                    [74] => stdClass Object
                                        (
                                            [term] => norton
                                            [tf] => 3
                                        )

                                    [75] => stdClass Object
                                        (
                                            [term] => relevance lost
                                            [tf] => 3
                                        )

                                    [76] => stdClass Object
                                        (
                                            [term] => strategic risk
                                            [tf] => 3
                                        )

                                )

                            [page_rank_decimal] => 47
                            [rank] => 170806
                        )

                    [27] => stdClass Object
                        (
                            [position] => 28
                            [title] => Financial Accounting vs Management Accounting - Difference and Comparison | Diffen
                            [url] => https://www.diffen.com/difference/Financial_Accounting_vs_Management_Accounting
                            [destination] => https://www.diffen.com › Business › Accounting
                            [description] => What's the difference between Financial Accounting and Management Accounting? Management accounting is a field of accounting that analyzes and provides cost information to the internal management for the purposes of planning, controlling and decision making. Management accounting refers to accounting information developed for manage..
                            [isAmp] => 
                            [organic_position] => 27
                            [serp_type] => page
                            [isOrganicPage] => 1
                            [isOrganic] => 1
                            [serp_title] => Financial Accounting vs Management Accounting - Difference
                            [serp_description] => Management accounting refers to accounting information developed for managers within an organization. CIMA (Chartered Institute of Management Accountants) ...
                            [hostname] => diffen.com
                            [canonical] => https://www.diffen.com/difference/Financial_Accounting_vs_Management_Accounting
                            [h1] => Financial Accounting vs. Management Accounting
                            [h2] => Array
                                (
                                    [0] => Comparison chart
                                    [1] => Video Explaining the Differences
                                    [2] => Related Comparisons
                                )

                            [h3] => Array
                                (
                                )

                            [h2WithAnchors] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [text] => Comparison chart
                                        )

                                    [1] => stdClass Object
                                        (
                                            [text] => Video Explaining the Differences
                                        )

                                    [2] => stdClass Object
                                        (
                                            [text] => Related Comparisons
                                            [id] => Related_Comparisons
                                        )

                                )

                            [type] => article
                            [wordCount] => 632
                            [imgCount] => 16
                            [lang] => 
                            [faq_on_page] => Array
                                (
                                )

                            [anchors] => stdClass Object
                                (
                                    [size] => 58
                                    [outboundSize] => 8
                                    [list] => Array
                                        (
                                            [0] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://mail.google.com/mail/?view=cm&fs=1&su=Financial+Accounting+vs+Management+Accounting&body=%0A%0Ahttps%3A%2F%2Fwww.diffen.com%2Fdifference%2FFinancial_Accounting_vs_Management_Accounting%0A
                                                    [hrefDomain] => google.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [1] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.reddit.com/submit?url=https%3A%2F%2Fwww.diffen.com%2Fdifference%2FFinancial_Accounting_vs_Management_Accounting&title=Financial+Accounting+vs+Management+Accounting
                                                    [hrefDomain] => reddit.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [2] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://twitter.com/diffen
                                                    [hrefDomain] => twitter.com
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [3] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.facebook.com/diffen
                                                    [hrefDomain] => facebook.com
                                                    [rel] => noopener
                                                    [isOutbound] => 1
                                                )

                                            [4] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.facebook.com/diffen
                                                    [hrefDomain] => facebook.com
                                                    [isOutbound] => 1
                                                )

                                            [5] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://twitter.com/diffen
                                                    [hrefDomain] => twitter.com
                                                    [isOutbound] => 1
                                                )

                                            [6] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://mail.google.com/mail/?view=cm&fs=1&su=Financial+Accounting+vs+Management+Accounting&body=%0A%0Ahttps%3A%2F%2Fwww.diffen.com%2Fdifference%2FFinancial_Accounting_vs_Management_Accounting%0A
                                                    [hrefDomain] => google.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                            [7] => stdClass Object
                                                (
                                                    [text] => 
                                                    [href] => https://www.reddit.com/submit?url=https%3A%2F%2Fwww.diffen.com%2Fdifference%2FFinancial_Accounting_vs_Management_Accounting&title=Financial+Accounting+vs+Management+Accounting
                                                    [hrefDomain] => reddit.com
                                                    [rel] => nofollow noopener
                                                    [isOutbound] => 1
                                                )

                                        )

                                )

                            [toc] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Comparison chart. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [1] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Video Explaining the Differences. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                    [2] => stdClass Object
                                        (
                                            [level] => 2
                                            [name] => Related Comparisons. 
                                            [tag] => h2
                                            [children] => Array
                                                (
                                                )

                                        )

                                )

                            [schema_type] => Array
                                (
                                    [0] => BreadcrumbList
                                )

                            [comment_questions] => Array
                                (
                                )

                            [body] => Financial Accounting vs. Management Accounting Diffen › Business › Accounting Management accounting is a field of accounting that analyzes and provides cost information to the internal management for the purposes of planning, controlling and decision making. Management accounting refers to accounting information developed for managers within an organization. CIMA (Chartered Institute of Management Accountants) defines Management accounting as “Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of information that used by management to plan, evaluate, and control within an entity and to assure appropriate use of an accountability for its resources”. This is the phase of accounting concerned with providing information to managers for use in planning and controlling operations and in decision making. Managerial accounting is concerned with providing information to managers i.e. people inside an organization who direct and control its operations. In contrast, financial accounting is concerned with providing information to stockholders, creditors, and others who are outside an organization. Managerial accounting provides the essential data with which organizations are actually run. Financial accounting provides the scorecard by which a company’s past performance is judged. Because it is manager oriented, any study of managerial accounting must be preceded by some understanding of what managers do, the information managers need, and the general business environment. Comparison chart. Financial Accounting versus Management Accounting comparison chart Financial AccountingManagement AccountingObjectives The main objectives of financial accounting are to disclose the end results of the business, and the financial condition of the business on a particular date. The main objective of managerial accounting is to help management by providing information that is used to plan, set goals and evaluate these goals. Audience Financial accounting produces information that is used by external parties, such as shareholders and lenders. Managerial accounting produces information that is used within an organization, by managers and employees. Optional? It is legally required to prepare financial accounting reports and share them with investors. Managerial accounting reports are not legally required. Segment reporting Pertains to the entire organization. Certain figures may be broken out for materially significant business units. Pertains to individual departments in addition to the entire organization. Focus Financial accounting focuses on history; reports on the prior quarter or year. Managerial accounting focuses on the present and forecasts for the future. Format Financial accounts are reported in a specific format, so that different organizations can be easily compared. Format is informal and is on a per department/company basis as needed. Rules Rules in financial accounting are prescribed by standards such as GAAP or IFRS. There are legal requirements for companies to follow financial accounting standards. Managerial accounting reports are only used internally within the organization; so they are not subject to the legal requirements that financial accounts are. Reporting frequency and duration Defined - annually, semi-annually, quarterly, yearly. As needed - daily, weekly, monthly. Information Monetary, verifiable information. Monetary and company goal driven information. Video Explaining the Differences. Related Comparisons. Finance vs Economics Income vs Revenue Depreciation vs Amortization Accounts Payable vs Accounts Receivable Capital Expenditure vs Operating Expenditure FIFO vs LIFO Follow Share Cite Authors Share this comparison: If you read this far, you should follow us: "Financial Accounting vs Management Accounting." Diffen.com. Diffen LLC, n.d. Web. 31 Dec 2021. < > Related Comparisons Finance vs EconomicsIncome vs RevenueDepreciation vs AmortizationAccounts Payable vs Accounts ReceivableCapital Expenditure vs Operating ExpenditureFIFO vs LIFOAR vs PO Financing Contribute to Diffen Edit or create new comparisons in your area of expertise. Log in » Finance vs Economics Income vs Revenue Depreciation vs Amortization Accounts Payable vs Accounts Receivable Capital Expenditure vs Operating Expenditure FIFO vs LIFO About Diffen How to Cite Log in / Register Request a Comparison Submit Feedback Stay connected © All rights reserved. Terms of use | Privacy policy share
                            [kwBody] => Array
                                (
                                    [0] => stdClass Object
                                        (
                                            [term] => accounting
                                            [tf] => 30
                                        )

                                    [1] => stdClass Object
                                        (
                                            [term] => financial
                                            [tf] => 15
                                        )

                                    [2] => stdClass Object
                                        (
                                            [term] => information
                                            [tf] => 13
                                        )

                                    [3] => stdClass Object
                                        (
                                            [term] => financial accounting
                                            [tf] => 11
                                        )

                                    [4] => stdClass Object
                                        (
                                            [term] => management
                                            [tf] => 11
                                        )

                                    [5] => stdClass Object
                                        (
                                            [term] => organization
                                            [tf] => 9
                                        )

                                    [6] => stdClass Object
                                        (
                                            [term] => managerial accounting
                                            [tf] => 8
                                        )

                                    [7] => stdClass Object
                                        (
                                            [term] => managerial
                                            [tf] => 8
                                        )

                                    [8] => stdClass Object
                                        (
                                            [term] => management accounting
                                            [tf] => 7
                                        )

                                    [9] => stdClass Object
                                        (
                                            [term] => manager
                                            [tf] => 7
                                        )

                                    [10] => stdClass Object
                                        (
                                            [term] => comparison
                                            [tf] => 7
                                        )

                                    [11] => stdClass Object
                                        (
                                            [term] => account
                                            [tf] => 7
                                        )

                                    [12] => stdClass Object
                                        (
                                            [term] => accounting management
                                            [tf] => 5
                                        )

                                    [13] => stdClass Object
                                        (
                                            [term] => business
                                            [tf] => 5
                                        )

                                    [14] => stdClass Object
                                        (
                                            [term] => expenditure
                                            [tf] => 5
                                        )

                                    [15] => stdClass Object
                                        (
                                            [term] => accounting management accounting
                                            [tf] => 4
                                        )

                                    [16] => stdClass Object
                                        (
                                            [term] => providing information
                                            [tf] => 4
                                        )

                                    [17] => stdClass Object
                                        (
                                            [term] => company
                                            [tf] => 4
                                        )

                                    [18] => stdClass Object
                                        (
                                            [term] => diffen
                                            [tf] => 4
                                        )

                                    [19] => stdClass Object
                                        (
                                            [term] => providing
                                            [tf] => 4
                                        )

                                    [20] => stdClass Object
                                        (
                                            [term] => report
                                            [tf] => 4
                                        )

                                    [21] => stdClass Object
                                        (
                                            [term] => share
                                            [tf] => 4
                                        )

                                    [22] => stdClass Object
                                        (
                                            [term] => accounting concerned providing
                                            [tf] => 3
                                        )

                                    [23] => stdClass Object