| Topic : Global Outlook for Indian Accounting Profession |
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Finance & Accounts
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Activity:
295 views;
last activity : 07 06 2010 20:18:09 +0000
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account should be frount work not back work
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Management Accountant as a statergic patner.
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accounts is the back bone of any company,as like back bone in human body
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Management Accountant is a just like BLOOD if he goes write and also Accounts should be in frount it means if accounts we tacke secondry work then our company will not be leading company . i think balance sheet should be ready daily basic
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Every entry should be done at balance sheet stage, you will get always your balance sheet .
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Earlier management accountants main role was simply to identify problems, now he or she is called on to provide solutions. Because of that accountants are stepping forward with good analyses and ideas on how to solve issues. Management accountants now spend more time dealing with strategic issues than ever before. Less time is been spend on performing traditional accounting functions and more time on strategic planning, internal consulting and computer-based operations. |
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Management acounting played a great role in decision making nw a days. Like marginal costing, standard costing, budgeting etc. Marginal costing is helpful for taking new decisions like launch new product whether it is beneficial to invest in it or nt. By using techniques of marginal costing, its easier to compare additional cost with additional revenue if the company vl invest in sm project.
Same way standard costing, is for calculating variance n deviation frm standard n make solutions to improve it.
Budgeting for forecasting about figures to do analysis.
Other techniques r also available.
So we can say dat management accounting is also important like financial accounting. Management accounting has start drawing its importance in modern stage.
Some new modern techinques r also available for better decision making n cost cutting.
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accounts is the back bone of any company.
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