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International Accounting
 

Management accounting as a profession

Vol. 20, Iss. 3, FEBRUARY 2017

PDF  Article PDF Version

Received: 1 November 2016

Received in revised form: 21 November 2016

Accepted: 30 November 2016

Available online: 17 February 2017

Subject Heading: Managerial accounting

JEL Classification: M40, M41

Pages: 124-134

https://doi.org/10.24891/ia.20.3.124

Ivashkevich V.B. Kazan (Volga Region) Federal University, Kazan, Republic of Tatarstan, Russian Federation
kafedra_ma@bk.ru

Subject This article discusses controversial issues of the development of management accounting as a profession.
Objectives The paper aims to examine the specifics of organization and content of operation of management accounting professionals in the structure of accounting professions, analyze the experience of foreign companies in this area, develop and provide rationales for the proposals on the implementation of a new approach to management accounting in accordance with the international standards of the Institute of Management Accountants (IMA).
Methods The Statements on Management Accounting of Definition of Management Accounting adopted by the Institute of Management Accountants and works of Russian specialists in this field are the methodological basis of the article. For the study, I used the following methods: analysis, synthesis, comparison, and analogy.
Results The results obtained support the need to consider management accounting as a separate kind of accounting profession, requiring a substantial extension of its knowledge and competence. The article concludes about the need to shift from the formation of accounting information as a primary task of accounting to the development of a conceptual design of managerial accounting system, obliging the Chief Accountant (Controller) participate in the formulation of a strategy and management decisions at the top level of business management.
Conclusions and Relevance The management accounting system should be a strategic business partner, participating in corporate management of commercial organizations, internal control and risk management, financial reporting analysis, expertise on methods of cost management, enabling enterprises to become more successful and competitive. An essential component of management accounting is the participation in formulation and execution of the strategy for operation and development of a commercial organization. Each managerial accountant, being anywhere in the value chain of accounting information should contribute to the success of the organization through participation in the execution of the strategy. The results of this research can be used in the development of theoretical issues of management accounting and its implementation at the enterprises of material production sphere, budgetary, and commercial organizations.

Keywords: management accounting, controlling, accounting profession

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