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FORENSIC ACCOUNTING – BA 124 – Spring 2008 Advanced Cost Management Session II: The Organizational Role of Management Accountants (ORMA)
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-2 Mgt. Acctg.--Strategic Implications n M/A’s must use KTT in their business decisions to meet “customer” needs. n M/A’s must be cost efficient and cost effective. n M/A’s must promote the economics of time and excel at their own time mgt.
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-3 IMA’s M/A Roles n Business and strategic partner n Provider of strategic business understanding n Participant in problem solving n Team member n Provider of information n Process facilitator
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-4 From Scorekeeper to Player n Role change driven by: n Information technology n Global competition n Two models for M/A’s n Corporate cop--evaluator n Business advocate--enabler n Dual accountability & org. structure n Solid vs dotted-line relationship
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-5 Mgt. Acctg.--Attribute Implications n M/A’s must possess broad business oriented technical skills. n M/A’s must possess the behavioral attributes of a team member, be tolerant with ambiguity and be comfortable with “soft” future- oriented numbers.
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-6 Mgt. Acctg.--Attribute Implications n M/A’s must be culturally ethical and develop the mindset of a participant.
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-7 Ethics n Lack of ethics--everyone loses n South Florida Bermuda Triangle of Ethics n Tyco n W.R. Grace n Bausch and Lomb n Sunbeam n Enron, World-com, Health-South, Adelphia
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-8 Ethics and You n You will face an ethical challenge n It could impact n Your job n Your family n Your relationships n Your financial stability n Your physical well-being n You have only ONE reputation...
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-9 Accounting Business Skills “The What” n Business Perspective n Organizational Focus n Bias for Action n Communication Excellence n People Proficiency
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-10 Financial Management Guidelines “The How” n Cc: Communication vs. control n KTT: Know the territory n MBWA: Manage by walking around n R ƒ R 3 : Respect is a function of… n responsiveness n reliability n relevance
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-11 Just Say “No” to... A B C Things we do to ourselves!!!
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STRATEGIC COST MANAGEMENT - BA122B – Spring 2008Slide 2-12 Scarlet Letter of Accounting Lacks Reality Distraction Lacks Cost Mgt.
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