A review of the Management Accountant’s Role in the effective utilization of organization’s resources: Implication for developing countries.

ALAO, Esther Monisola (2014) A review of the Management Accountant’s Role in the effective utilization of organization’s resources: Implication for developing countries. Journal of Economics and Finance, 5 (5). pp. 16-22. ISSN 2321-5925

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Abstract

Good management accounting involves a responsibility to manage mind-provoking information and issues that influence decision making in the organization. The competitive world of business requires proactive management accountants whose roles conform to the current shifts in the field. Where this function is wholeheartedly executed to secure and utilise resources, the organization’s interest is duly protected such that the business life is prolonged. The study is descriptive using secondary data to reveal the important role of the management accountant as germane to effective utilization of firm’s resources in order to enhance the businesslife of the organization. Findings of the study revealed the lumping of the job description of the management accountant with that of the financial accountant, a contrast to current shift in management accounting functions. The study recommends that management accountants should be current with new approaches to executing the salient function that is now premised on resourceful management which enhances decision making, value creation and overall attainment of organization goal. Consideration should be given to specifying the job-schedule and requirements for the management accounting profession different from current practice wherein financial accountant and management accountants’ duties are lumped. In the light of this, developing countries require a proactive and result-oriented management of the meagre resources by the firms’ management accountants. Key Words: Management Accounting, Decision Making, Resourceful-result-oriented management, Value Creator.

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