Railway Accounts Department Examinations

Monday, July 27, 2020

Functions of Management Accountant

Functions of Management Accountant

Easy to remember   PRE TEA

Planning & Control
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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