Management Accounting Master Essay Example | Topics and Well Written Essays - 2500 words

Management history Master - Essay ExampleDue to the changes fetching place in the accounting field today, it is requirement to bring appropriate measures for improving the managerial accounting techniques and procedures. Obtaining adequate in formations required for the organization is the briny driving force for change. For meeting the organizational goals, it is necessary to implement the relevant managerial accounting policies in force(p)ly. change magnitude competition requires adequate changes in the management techniques. Earlier period, management accounting was concentrated for the determination of cost, nurse of finance, and also to admit concentration for minimizing the wastage of resources. In addition to this, the management accountant is also responsible for the training of accounting statements in an effective manner. But recently, the role of management accountant is enhanced due to the changing scenario of the world of accounting. As far as an organization is taken in to consideration, management accountant is responsible for taking the adequate managerial decisions for the future running of the entity. Management accountant is one who should possess total knowledge about the relevant aspects of the enterprise as a whole. The concept of accounting point of hatful of both management and financial accounting is not at all similar. The MIS (Management Information System) is very authoritative in recent days. MIS (management development systems) is a general term for the computer systems in an enterprise that provide information about its business operations. Its also used to refer to the people who manage these systems. (Moore 2007). For the purpose of mitigating the exist difficulties associated with the concept of managerial accounting and its principles and policies, it is necessary to compress effective implementation strategy and also to undertake the reinvention of management accountants. The organizational customs and its en vironmental factors atomic number 18 also effecting this reinvention to certain extend. Management accounting principles and its applications are fundamental for the preparation of financial statements and report to the entity for taking appropriate future decisions. Management accounting is super concentrating for taking the most relevant decision required within the organization, and it is necessary to obtain the proper information about the entity for taking decisions, and such information should be more accurate in nature. MIS is a world-shaking concept, because it is possible to undertake the business operations more effectively through this system. So, major factors responsible for changes in the management information system are-Changes take place in the economy.Awareness about global competition. offspring of recent innovative measures and technology.Therefore, it is crucial to consider the changes in the organization in an effective manner for taking the prominent decisi on which may affect the performance of the entity in future. Implementation of strategic management accounting tools are also effective for this. So, the effective installation of the MIS is important for the adequate functioning of an entity. It is very inseparable to maintain and develop a proper accounting theory for the proper implementation of accounting procedures and the effective reporting of