A Management Accountant adds a significant amount of expertise to your business, and requires a special set of skills and formal educational requirements, including a minimum of a Bachelor’s Degree and Professional Designations (eg: CPA Australia, CAANZ, Certified Management Accountant, or Chartered Global Management Accountants)
What do Management Accountants do?
Management accountants are a specialization of Accountants, just like a Cardiac Physician, is a specialization of Medical Doctor. Management Accountants are sometimes also referred to as a “Cost Accountants” and one of their primary roles in any business is that of risk management. They create budgets, business plans, manage company investments, strategize and ultimately provide the information to help the company owner, manager, or board of directors to make meaningful and rational decisions.
Management Accountants are Senior Accounting Specialists
Often a Management Accountant will supervise, support and train junior accountants who handle the process work, such as recording and reconciling bank transactions (revenue and expenses), tracking tax liabilities (PAYGW, PAYGI, GST and Income Tax). In smaller firms the Management Accountant may manage this entire process start to finish arriving at a complete set of financial statements (Profit and Loss, Cash Flow Statements, Balance Sheet, and many more).
Can you Outsource a Management Accountant?
Absolutely, and it is a very effective way for smaller businesses to gain access to this skill-set that historically has been only available to larger private and public companies.
By hiring an outsourced Management Accountant, you don’t need to employ a full time resource, instead simply pay for the level of service and support you require.
Ascend Solutions is your outsourced Management Accounting Specialist.
We provide CPAA and CAANZ trained Management Accountants to assist you with gaining insights beyond that of basic bookkeeping.
For many of our bookkeeping packages we include some component of Management Accountant support and analysis of your key business metrics.
Our Management Accountants assess and report on internal controls, governance, key business performance metrics, benchmarking against industry, as well as supporting the selection and implementation of best systems and processes for the industry in which the business operates.
Want to know how a Management Accountant can help in your business? Why not get in touch today for a complimentary fact find call with our in-house Management Accounting specialists.
Join one of the many clients we serve clients across QLD, NSW, ACT, and Northeast Victoria by calling your local office or dropping an email to info@ascendsolutions.com.au
QLD: (07) 3067 2425
NSW (Metro): (02) 9451 4424
NSW Regional and NE Victoria: (02) 6046 9702
ACT: (02) 6189 2248