Marmon Group :: essays research papers

Accountants at the Marmon Group, Inc. act as internal consultants for the company in many contrasting capacities. Jim Smith, Marmons prior director of cost management says that the role of the management accountant is changing dramatically in most of our companies. Managerial accountants atomic number 18 non seen any longer as simply clerks working on monthly reports but as valuable assets to senior management. Management accountants at Marmon work virtually with managers by helping to analyze cost and operating discipline. They help in decision making by helping managers relate the operations of the company to the foot line and company costs. According to Horngren, Sundem & Stratton (2005) management accountants are becoming an advisor for managers about what information would be useful, what information is available, and how to get the needed information (pg. 17). These accountants pay back become a key part of formulating the financial and logical argument strategies of t he company and are an essential part of working toward the overall profitability of the organization. Effective managerial accountants need a wide range of knowledge from both the accounting and the financial aspects of the business as well as overall general business administrative knowledge. A background in the use of general accounting practices as well as information for planning and control, performance evaluations, decision-making, and the statement of immediate payment flows, along with financial statement analysis are key areas managerial accountants should have confidence in. To be an effective internal consultant it is vital that a strong understanding of the general functions of the company and how they interrelate to the ultimate profitability of the organization is a large portion of the consultants background. Accountants gather information to be used in different kinds of ways both internally within the organization and externally for the general public and outside a gencies. Information is produced for stockholders who may review a prospectus or an annual financial report when determining whether or not to invest in the company. Organizations such as banks and suppliers are given information in determining credit eligibility and purchase arrangements for the company.