CIMA BA2 Syllabus A. THE CONTEXT OF MANAGEMENT ACCOUNTING - CIMA's definition of a Management Accountant's Role - Notes ^{3 / 6}

Role of the Management Accountant - CIMA

What should a Management Accountant do?

• For a Commercial Organisation 

  Help establish strategies and convert them into PROFIT. 

  For a Not for Profit Organisation 

  Help establish strategies and convert them into VALUE FOR MONEY

How can Management Accountants do this?

By getting involved in Multi-Skilled teams that:

1. Set Objectives

2. Make Strategic plans

3. Make Operational plans

4. Obtain finance

5. Design Financial and Information systems

6. Provide analysis of information

7. Monitor the outcomes vs plans and act accordingly

8. Create Performance Measures (financial and non financial)

9. Constantly Improve the systems via internal audits and risk management