Functions of Management Accountant

Functions of Management Accountant

Easy to remember   PRE TEA

Planning & Control

Reporting

Evaluation

Tax administration

External effects

Asset Protection

1. Planning & Control

·         Establishes, co ordinates & Maintain an Integrated Plan for control of operations

·         Integrated plan would provides

A.      Cost standards

B.      Expense Budget

C.      Sales forecasts

D.      Capital Investment programme

E.       Profit planning

F.       System to effectuate the plan

2. Reporting

·         Measures performance against given plans & standards

·         Interpret the results of operations

·         Includes installation of accounting & costing system

·         Report the above things to Management

3. Evaluating

·         Evaluate the various policies and programmes

·         Effectiveness of planning & procedure is depend upon the calibre of Management Accountant.

4. Tax Administration

·         To report Govt agencies under various tax laws

·         Supervise all matters relating taxes

5. External effects

·         Assess of effects of various economic & fiscal policies of Government

·          And its impact on the company/organisation.

6. Asset Protection

·         Through maintenance of internal control

·         Ensure Insurance coverage

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