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Advanced Cost Management. Session II: The Organizational Role of Management Accountants (ORMA). Mgt. Acctg.--Strategic Implications. M/A’s must use KTT in their business decisions to meet “customer” needs. M/A’s must be cost efficient and cost effective.

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advanced cost management

Advanced Cost Management

Session II:

The Organizational Role of Management Accountants (ORMA)

FORENSIC ACCOUNTING – BA 124 - Spring 2004

mgt acctg strategic implications
Mgt. Acctg.--Strategic Implications
  • M/A’s must use KTT in their business decisions to meet “customer” needs.
  • M/A’s must be cost efficient and cost effective.
  • M/A’s must promote the economics of time and excel at their own time mgt.

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-2

ima s m a roles
IMA’s M/A Roles
  • Business and strategic partner
  • Provider of strategic business understanding
  • Participant in problem solving
  • Team member
  • Provider of information
  • Process facilitator

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-3

from scorekeeper to player
From Scorekeeper to Player
  • Role change driven by:
    • Information technology
    • Global competition
  • Two models for M/A’s
    • Corporate cop--evaluator
    • Business advocate--enabler
  • Dual accountability & org. structure
    • Solid vs dotted-line relationship

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-4

mgt acctg attribute implications
Mgt. Acctg.--Attribute Implications
  • M/A’s must possess broad business oriented technical skills.
  • M/A’s must possess the behavioral attributes of a team member, be tolerant with ambiguity and be comfortable with “soft” future-oriented numbers.

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-5

mgt acctg attribute implications1
Mgt. Acctg.--Attribute Implications
  • M/A’s must be culturally ethical and develop the mindset of a participant.

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-6

ethics
Ethics
  • Lack of ethics--everyone loses
  • South Florida Bermuda Triangle of Ethics
    • Tyco
    • W.R. Grace
    • Bausch and Lomb
    • Sunbeam
  • Enron, World-com, Health-South, Adelphia

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-7

ethics and you
Ethics and You
  • You will face an ethical challenge
  • It could impact
    • Your job
    • Your family
    • Your relationships
    • Your financial stability
    • Your physical well-being
  • You have only ONE reputation...

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-8

accounting business skills the what
Accounting Business Skills“The What”
  • Business Perspective
  • Organizational Focus
  • Bias for Action
  • Communication Excellence
  • People Proficiency

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-9

financial management guidelines the how
Financial Management Guidelines“The How”
  • Cc: Communication vs. control
  • KTT: Know the territory
  • MBWA: Manage by walking around
  • R ƒ R3: Respect is a function of…
    • responsiveness
    • reliability
    • relevance

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-10

just say no to
Just Say “No” to...

A

Things we do to ourselves!!!

B

C

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-11

scarlet letter of accounting
Scarlet Letter of Accounting
  • Lacks Reality
  • Distraction
  • Lacks Cost Mgt.

STRATEGIC COST MANAGEMENT - BA122B - Spring 2006 Slide 2-12