From the course: Accounting for Managers

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The role of the management accountant

The role of the management accountant

From the course: Accounting for Managers

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The role of the management accountant

- In today's ever-changing world, managers must possess strong financial acumen. Now, not for one minute does this mean they should know how to design and build complex costing models or dashboards. But as managers, you kind of are responsible for fostering relationships with your internal stakeholders, and this includes the finance team. Management accountants are one of your most important allies. Now you might be wondering, why is this the case, when there are so many other stakeholders to liaise with on a day-to-day basis? Well, simply put, numbers are at the epicenter of round table discussions, no matter how big or small an initiative is. What's the latest budget estimate? Why on earth has the number changed? You catch my drift? It's also the case that numbers, well, when they aren't favorable of course, bring about the undoing of programs, and indeed, accountable individuals. How often have you read a headline…

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