Mgmt Acc may involve:
- Understanding the business and its key drivers, and providing sound advice to business areas on future directions
-utilise your expertise at analysing the numbers and providing senior management with the information and tools to make sound decisions
-ensure the business is able to continue by maintaining sufficient cash-flow at all times.
-ensure the business is managed in a financially responsible manner
-Reduce any inefficiencies within the finance function (i.e. do you need someone on 30k entering invoices… can management report making be done automatically… etc)
-Keep the finances sound, with prudent management while also negotiating with bank(s) to maintain credit lines.
-times of economic trouble are when people in finance should be proving their worth by leading the way in ensuring the business does not wast money on inefficient practices or ill-conceived decision making.
-Use the intimate knowledge of the finance team to provide valuable insight to senior management.
How you add value:
-only you can answer that…
See journal articles/books by Gary Hamel and Prahalad (?) and Kaplan and Norton for some academic thoughts on what a management accountant’s role should be within a modern organisation.
hope that helps, Ucayman.