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Controller. In a corporate environment, a controller supervises all other accounting staff and usually reports to a chief financial officer or director of finance. Accounting Manager. A mid to upper-level manager and accounting professional who oversees staff accountants and/or accounting supervisors or junior accountants. They may or may not ...
Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them with ...
A comptroller (pronounced either the same as controller or as / kəmpˈtroʊlər /) is a management -level position responsible for supervising the quality of accounting and financial reporting of an organization. A financial comptroller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial ...
The two management accounting principles are: Principle of Causality (i.e., the need for cause and effect insights) and, Principle of Analogy (i.e., the application of causal insights by management in their activities). These two principles serve the management accounting community and its customers – the management of businesses.
A capital improvement plan (CIP), or capital improvement program, is a short-range plan, usually four to ten years, that identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan. External links. Capital Project Management, British Columbia Ministry of Education
United Kingdom. The Chartered Institute of Management Accountants ( CIMA) is the global professional management accounting body based in the UK. CIMA offers training and qualification in management accountancy and related subjects. It is focused on accountants working in industry and provides ongoing support and training for members.
Total cost of ownership ( TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or service. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs . For manufacturing, as TCO is typically compared ...