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Managerial Accounting: Organizations and Expectations
The profession and practice of accounting has become increasingly prominent and increasingly scrutinized over the past decade or so, in the wake of major scandals and upsets in the business world that can be traced in part to nebulous and unethical accounting practices or outright frauds. Because of this increased prominence, accountants today need to be more concerned than ever with not only the standards to which they hold themselves and their work, but also the appearance of these high standards and performance capabilities. This is one of the major benefits, along with many others, of belonging to a professional organization. The authority and austerity that the right professional organization carries provides these abstract as well as concrete benefits to member accountants, from increasing confidence...
Membership is in and of itself a sign of commitment to the profession and the high standards of the group, increasing client confidence and accountant prestige, and the Institute also produces and disseminates many publications and other support services that help keep accountants up-to-date and well-informed regarding issues relevant to managerial accounting (IMA, 2012). In addition, the Institute provides a certification program that offers a unique credential that could lead to eve more substantial gains in knowledge in confidence (on the parts of both…
Reference
IMA. (2012). Institute of Management Accountants. Accessed 10 January 2011.
http://www.imanet.org/
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However, they have also changed the face of the accounting profession in a way that will affect the education and conduct of accountants in the future. In the future, the accountant will have to do more than to balance the books. In order to understand the potential educational requirements for accountants in the future, we will examine how they have changed historically and then apply the changes that have
Managerial Accounting Accounting Managerial accounting is different from financial accounting because it is used primarily by companies and organization to generate weekly, daily and monthly reports to help them forecast future financial events (Birnberg, 1992). The profession of managerial accounting looks at the many ways managers can help facilitate increased revenues over defined times, and the future in general. It is not concerned with investments as much as it is concerned with
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