Management accounting combines accounting, finance and management with the leading edge techniques needed to drive successful businesses.
Chartered management accountants:
● Advise managers about the financial implications of projects.
● Explain the financial consequences of business decisions.
● Formulate business strategy.
● Monitor spending and financial control.
● Conduct internal business audits.
● Explain the impact of the competitive landscape.
● Bring a high level of professionalism and integrity to business. Management accounting skillset Our members are qualified to work across an organization, not just in finance. In addition to strong accounting fundamentals, CIMA teaches strategic business and management skills:
● Analysis – they analyse information and using it to make business decisions.
● Strategy – they formulate business strategy to create wealth and shareholder value.
● Risk – they identify and manage risk.
● Planning – they apply accounting techniques to plan and budget.
● Communication – they determine what information management needs and explain the numbers to non-financial managers.

Question:
Provide more detailed illustrations for each of the first four items in the first category of the above list of how the management accountant can be of assistance in an organization with which you are familiar.