For years you maintained the financial records of your small construction business on your own. You collected payments from your customers, cut checks to employees and suppliers, and used a simple accounting software product to periodically determine your profitability. However, as your business has grown into a major real estate development firm, the amount of time spent fulfilling the finance and accounting needs of your business has interfered with your ability to solicit new business and close deals. That is your greatest skill. You decide to hire a financial manager to assume responsibility for the accounting portion of the business.

Before interviewing potential candidates, you consider whether you need someone skilled in managerial accounting, financial accounting, or both. After considering the matter for several days, you decide your greatest need is for a managerial accountant.

Select the activities you will look for on candidates’ resumes to demonstrate their expertise as a managerial accountant.

a. Provided financial statements needed to secure business loans.

b. Tracked and reported operating costs for each division of company.

c. Prepared financial statements for potential investors.

d. Calculated profit per project and product line.

e. Developed and analyzed reports that compare budgeted costs to actual costs.

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