The managerial accountant of XYZ Company told a friend that the company will announce a major recall in the coming weeks. A friend soon sells all of his shares in XYZ. The auditor has violated this Ima requirement: The auditor has violated the Integrity and Confidentiality Statement of the Standards of Ethical and Professional Practice.
Management Accounting, or managerial accountant, is where managers use accounting information to make decisions and support management and the performance of its control functions.
Management Accountant Job Description: Prepares financial and transactional data for use within the organization. Assessing and managing financial risk. Analyze the cost of products or services and categorize this information into various cost and/or revenue centers. Cash flow modeling and forecasting.
Finally, managerial accountant information often takes the form of non-financial measures. For example, a Sportswear Company can measure the percentage of defective products produced and the percentage of on-time delivery to customers. This kind of non-financial information comes from the management accounting function.
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