Management accountant

By:
Updated: Aug 20, 2021

The term usually employed to distinguish the accountant in industry who is primarily concerned with presenting information on which cost-conscious management decisions will be made from the purely financial accountant, concerned with the overall financing of a business. Management accountants must decide, through analysis of the cost variances concerned, the precise amount of funding necessary for a given project. They are also concerned with budgetary control (it is upon the figures which they supply that budgets are ultimately agreed) and standard costing. Management accountancy has evolved as a profession from cost accountancy; the latter’s governing and examining body has dropped the title of Institute of Cost and Works Accountants in favour of Institute of Cost and Management Accountants.

Reference: The Penguin Business Dictionary , 3rd edt.



Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.