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Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
Many accountants in the United States are not certified, particularly those who work in corporate America. They may be referred to as bookkeepers, accountants, junior accountants, staff accountants, senior accountants, or accounting supervisors, depending on their level in the management duties and their position in the corporate hierarchy.
The Chartered Global Management Accountant (CGMA) is the most widely held management accounting designation in the world with more than 137,000 holders. [2] It recognizes professionals who have advanced proficiency in finance, operations, strategy and management and is underpinned by global research to maintain relevance with employers, and develop competencies most in demand.
The management accounting practice was originally discussed in a series of articles published in The Engineering Magazine. As was typical of early management accounting practice after the industrial revolution, it was a topic of interest to engineers.
Accountant at work. In the Commonwealth of Nations, which include the United Kingdom, Canada, Australia, New Zealand, Hong Kong pre-1997, and several other states, commonly recognised accounting qualifications are Chartered Certified Accountant (), Chartered Accountant (CA or ACA), Certified Management Accountant (Institute of Certified Management Accountants) (CMA), Chartered Management ...
Certified Management Accountant (CMA) is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning , analysis, control, decision support, and professional ethics.
A Cost and Management Accountant (CMA) in India plays a pivotal role in the financial and operational management of organizations. CMAs are experts in cost accounting, financial planning, and strategic management, providing critical insights that help businesses optimize their resources, enhance profitability, and ensure sustainable growth. [2]
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]