Whats the difference bewteen a chartered accountant+a management accountant?
I'd like to pursue a career in accountancy but am unsure of the difference. I'm an accounts clerk at the moment.
Careers & Employment - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Management Accountant is a job, or job description, in some organisations, not necessarily a qualified accountant. Chartered Accountant is a recognised qualification. I think you need to take some careers advise on this.
Answer 2 :
Chartered accountants will follow the route of ACCA or ACA but you should go on to the relevant websites for more detail. I am training as a management accountant and therefore am studying CIMA. I wasnt sure which qualification i wanted to pursue when i was starting out but i found the CIMA qualification to be more flexible in that there was an element of business as well as finance in there.
Answer 3 :
A managemetn Accountant produces information mainly for Internal use and is mainly inward looking. A financial accountant produces information for both Internal and External stakeholders. Eg Statutory Financial Account for publication. Management accounts are not normally published. financial Accounts is more restrictive in that there are set ways of doing things where as Man A\cs can be more Ad hoc. Follow ACCA it is a more versatile qualification and more internationally recognised
Answer 4 :
for strters... they r for sure nt the same. actually many pple do mess up due to the term..'Accountancy' associated with them. but there is a vast sea of differences between these 2 terms. A Chartered Accntant z all abt allocations of financial resorces one hd pooled in.. & needs to distbte it evenly in bux fr tax'tion & othr legal aspcts... there is no sch requiremnt fr a management accountant.. his wrk is befre all this. so to speak he is assignd with allocation of sch finances to sme extent. he hs to determine wht may b needed by the firm fr its smooth sailing. in a rathr simpler way to put it acrss... a Mgt-Acctnt determines hw much z needed... gts it pooled in with help of finance mgrs.... and then the C.A shws the distribution of all these funds to justify those who had invested into the firm. mreovr its mandatory fr a CA to reveal his bux in public @ AGMs to the stakehldrs... no sch legal requiremnts fr a Mgt Acctnt. think this wud b enuff to resolve yor confusion.
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