Management Accounting and Bookkeeping
Management Accounting deals primarily with internal reporting and would typically deal with monthly management reports, analysis of internal costs and revenue streams and costing of products or processes. The reports prepared by the Management Accountant are to the largest extent used by management within a firm to take appropriate actions and make correct decisions. Generally, management accountants are tasked with reporting financial data to persons inside the business entity.
The Management Accountant will likely also be engaged in scenario planning, building cost models based on different variables and “What-If” solutions, cashflow forecasts and the preparation of budgets and comparing actual results to such budget. Management Accountants are primarily found in the commercial / industrial sector of business, normally working for one company only. He needs to fully understand the actual production process and other internal functionalities, and must have a firm knowledge of bookkeeping procedures and a good working knowledge of Value-Added Tax legislation.
FCS offers incumbents the possibility to get engaged in the processing of data and to fully master the skills of becoming a bookkeeper and to start compiling management reports for a variety of clients, creating the opportunity to learn the intricacies of different businesses at the same time. We support staff that wish to further their academic studies in this field, enrolling for a B.Com (Management Accounting) or similar degree at UNISA.