The CFO of a company is responsible for the day-to-day running of the company. 2) The tre
The CFO of a company is responsible for the day-to-day running of the company.
2) The treasurer and the controller report directly to the CFO.
3) The internal audit department reports directly to the subcommittee of the board of directors called the audit committee.
4) In most companies, managerial accountants no longer perform routine mechanical accounting tasks.
5) Managerial accountants are now considered to be similar to advisors and business analysts.
6) Oral and written communications skills are considered among the most valuable skills a management accountant can possess.
7) Technology has been a driving factor in the changing roles of management accountants.
8) Management accountants spend more time planning, analyzing and interpreting accounting data and less time recording routine accounting transactions than they have in the past.
9) The only skill required of managerial accountants is that they have a solid knowledge of both financial and managerial accounting.
10) Managerial accountants only need a solid understanding of managerial accounting, and not financial accounting.