Those of you who are either studying financial accounting or are pursuing a career in it must be quite familiar with Generally Accepted Accounting Principles (GAAP). Here is another accounting mess: One day I noticed a 1cent expense on my financial statement. I could go on about my personal nightmares or a close friend’s fellowship account being depleted two month earlier than expected because accounting made wrong payments and now he is being asked to go 2 months without pay or find some other source of funding because the fellowship money is not being paid back. Every semester (including summer) we have to fill out a form stating where our salary comes from (grant, TAship, etc).
One semester the secretary who is supposed to communicate between accounting and graduate students forgot to send out the forms. Selective in Nature:- It is also a potent characteristic of this accounting system. Here selective means, in management accounting a management accountant is only collect those data and information from a variety of alternatives which may create more benefits and easiness to the management in decision making. Assist in Achieving Objectives:- Management Accounting is always assist organization in achieving its predetermined goals. Related to Future:- Management Accounting is an accounting system which is directly related to future course of events.
Use of Special Techniques:- Management Accounting uses special tools or techniques (like standard costing, budgetary control, control accounting, marginal costing etc) for composing the accounting information and data more accurate and relevant. Teachers of Accounting at Two Year Colleges (TACTYC) is pleased to announce seven scholarships in the amount of $1,000 each for use by the winners during the 2015-2016 academic year. Starting salary ranges for in-demand accounting professionals will also be on the rise, with an average increase of 4.7 percent.
Five scholarships will be awarded to students who will be graduating from a two-year college during Spring 2016, and will begin pursuing a Bachelor’s Degree in Accounting at a four-year institution during Fall 2016. The IMA can help you open the door to a dynamic career in management accounting. IMA is the leading organization for management accounting and finance professionals worldwide.
AFWA, formerly known as American Society of Women Accountants (ASWA) is the home for all women accounting and finance professionals whether new to the field, experienced or considering a career transition. The mission of AFWA is to enable women in all accounting and related fields to achieve their full personal, professional and economic potential and to contribute to the future development of their profession. The Milwaukee Chapter has members of very diverse backgrounds: students, retired, CPAs, non-CPAs, accountants and bookkeepers in industry, public accounting firms, non-profits and business owners.