Is There A Difference Between What An Accounting Student Perceives The Role Of A Management Accountant Is Compared To Reality? If There Are Differences What Are They?

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[Date of submission]Is There A Difference Between What An Accounting Student Perceives The Role Of A Management Accountant Is Compared To Reality? If There Are Differences What Are They?

Introduction

For analyzing the different between the accounting student and management accountant, the first requirement is to know about their roles. Accounting student is simply the student related to the field of the account means student who study accounting. In the field of accounting, students get good understanding of accounting skills as well as management skills. In academic life, accounting students learn and get opportunities to learn, which they can implement in their professional life (Calvert, V, et.al, 2009). Management accountant practically perform all their learning's in professional life.

Management accounting is an in-house business activity which includes the reporting and recording of all financial dealings of the company. Management of different business processes is supported by the accounting department by supporting in different investments and choices, and also by providing analysis (Vitez, O, 2012). It is completely related to the use of accounting information and requirements to the manager of the organizations. It also provides managers to make worth full business decisions that set control functions and management (CIMA, 2012).

Discussion

Role of the management accountant

The management accountants perform various roles which include (Allbusinessschools, 2012):

Provides financial management services

Appraising and reviewing systems

Development and continuous change of financial reporting

Reporting to the manager finance

Management of monthly accounts and budgets

Delivery of results all over the organization

Communicate and work with in team

Analyze, interpret and reporting of financial data

Provide results in challenging environment

Perform various tasks for the financial security of the organization

Make overall business strategies and management

Handle taxes

Manage taxes to decide benefit and compensation benefits

Strategic planning

Also incorporate non financial data

Collaborate with senior management

Fulfils stakeholders needs

Business planning

Involves in cost reduction and cost analysis projects (CIMA, 2012)

Content analysis of the conducted survey

For the research of the topic, survey has been conducted through the interview. Interview has been conducted from the financial controller. The purpose of the interview was to know about the role of the financial controller. The respondent was working in the manufacturing of the concrete products. Respondent was also the member of the Institute of Chartered Accountants of England and Wales. It was a successful interview survey. The interview was very effective and very helpful in finding the role of an individual as a management accountant, financial controller or any other leading position related to finance. The respondent of this survey was a financial controller at a job description of senior management accountant.

Actual interview come in the flow of purpose, when the respondent was asked about his job, his role as a financial controller and his current and past services. Respondent accurately answer the question. According to the respondent, his position role was to make accurate results within time frame. His main responsibility was to make financial accounts and to manage accounts as ...