Role And Expectations For Professional Accountant: Job Positions And Responsibilities

Discuss about the Role and Expectations For Professional Accountant.

This report reflects the description of 10 job positions for the cost and management account. In this report, job and responsibilities of each job designations is given. It also includes all the accounting and management skills for the particular job.

In the data collection method and analysis of the above given table reflects the two job profile of cost and accountant. In private companies, accountant job is classified as cost and management accountant. The person appointed as accountant needs to have several skills such as budget and reporting details, forecasting, data analysis and finding the reasons for inaccuracies and variance, management of the financial and non-financial accounts, inventory management, identifying the project escalation and supporting the financial management in decision making system (Small, 2015).
If a person selected as accountant and cost manager in business then he should have interpersonal skills, strong communication, high experience with the ERP systems and great knowledge of Excel. In addition to this, He also needs to have degree of CA, CPA and equivalent to the same. An accounting degree and membership of CA and CPA is required. He also needs experience of Big 4 consultancy and government firms is necessary and requires strong reporting and financial modelling skills.

1. The most important skills of the cost and management accountant is that they should have degree of CPA, CIMA and other equivalent courses. They also need to have essential degree of knowledge and skills to analysis the details of the cost and management accountant.
2. There is several degrees of diploma courses in accountants. It requires good understanding on the costing and accountant details.  Management also requires high level specialisation to implement effective strategic cost management degree.
3. There are several challenges and issues faced by Managers to implement the strategic programs. :

• The globalised working factors have affected the cost management process and requires accountant to learn domestic and international intents.
• Changing the strategy program and implementing strategies on the basis of internal and external factors.
•  Identification and learning of the new working methods and cost management structure, learning the new accounting standards.

1. In the given course ACCT 6004, shows the nature of accounting and details descriptions such as behaviour and estimation and hypothetical data analysis by the cost accountant.
2. The project planning, CPV analysis, cost and management accounting and implemented strategic programs will also be the base requirements for development of the proper accounting and strategic planning procedure.
3. Understanding of the accounting responsibility and work accountant functions.
4. There are several other key intents learning and implemented program such as cash management accounting, cash book, cash matching concept and operating and financial learning expertise.
5. The knowledge and information about these topics is the key for learning the data given course ACCT6004.
6. Implementation of the strategic program and work functions to make the costing and accounting work effective.
7. Job design and responsibilities of each job designations is determined on the basis of structured program. It also includes all the accounting and management skills for the particular job (Mishra, 2011).
8. Accountant and cost management must have intents of Improving the integrity of standard costing system, analysis of production variances, project cost overview and P&L meetings with senior managers, monitor KPIs and prepare budgets , ad hoc projects consist of financial modelling. These are the basic characteristics which should be followed by each and every accountant to implement the accounting and costing work.
9. Cost and management accountant will also focus on analysing the company cost, reporting to CFO related to all the financial and non-financial data, tracking OPEX and CRAPEXa and Preparation of Budget.
10. Accountants also need to have basis learning intents which are given as below.

• Cost public Accountant
• CPA having experience of 3 to 5 years’
• High communication and interpersonal skills.
• Experience from manufacturing of units
• Knowledge of Computer skills

After evaluating all the details given in this report, it could be inferred that particular skills and job details are the key for getting hired in company. All the information given above reflects the key requirement and strategic information to implement the strategic planning to prepare the effective financial information. It could be inferred that the effectiveness of the financial statement prepared is based on the skills of accountant and work effective program undertaken. The correctness of the prepared budget and estimation of the expenses is also based on the statistical skills of the accountant (Mishra, 2011).

Conclusion

Each and every job designation has its own work process. These job Position perfectly align with the learning outcomes to ACCT 6004 which reflects the roles and responsibilities of accountant.

References

Mishra, D. (2011). Management Accountant: Role & future challenges.

Palanivelu, V. R. (2007). Accounting for management. Firewall Media.

Pathak, M. V., Wankhede, M. S., & Chandwani, K. S. (2018). Office automation system.

Small, R. (2015). The changing role and expectations for the professional accountant (SA): changing roles-business & economy. Professional Accountant, 2015(25), 8-9.