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Management Accounting – driving your way to success

Management Accounting is at its simplest the provision of information required by management for the planning, organising and control of the organisation.

A management accounting system by itself is not sufficient to guarantee success. However, we can be sure that an ineffective or non-existent system will help to undermine an organisations ability to succeed.

 

Get the lights in your favour

The current economic environment demands that we get the best from our management accounting system. An organisations management accounting system must provide timely and accurate information to facilitate efforts to control costs, measure and improve productivity and to devise and improve processes. Information should be communicated in such a way as to motivate managers and staff.

 

 


 

So what are the determinants to having a good “fit for purpose” management accounting system:

·         An efficient transactional system with timely, accurate and focused reporting

·         Collation of financial and non financial data that measure key performance

·         Capability to establish trends

·         An easy to understand means of communication

·         Data that helps support ongoing decision making

Do you have a management accounting system but question its value and contribution or lack one altogether? We are experts in this field and can help advise, devise or implement a system for you.