Tel: 01492 530555
|A management accountant
works within businesses to provide the systems and management information
which is required to control that business. Typical tasks carried out by
an independent management accountant are:
- implementing a new computer system.
- setting up the management information system and training staff to
produce the information.
- sorting out the accounts after a fraud.
- determining the true costs and margins of a specific product range
- one-off analyses, eg reconciling stock discrepancies, or producing
figures for a claim.
Typical assignments include:
- Part-time management accountant for small and medium organisations. I
work with small and medium companies who require a part time, director
level financial controller, typically for 1 day per month. Clients
include a building contractor (t/o £3m), a manufacturer (t/o £2m) and
a firm of solicitors. I ensure that all accounting functions are correct
and that the directors / partners receive pertinent management
- Activity Based Costing. Activity based costing is used when the
company really needs to know the true costs and margins for specific
product / service groups sold to specific customer sectors. This
information is then used to decide where the most profit can be made and
where to concentrate the marketing and production resources. I review
the business with you to determine the appropriate products / services /
customers etc for the analysis. I then set up the system to get the
information as easily as possible.
- Implementing accounts, management information, and costing systems. Examples
are building contractors, from completely manual systems (typical
turnover £2 million), an adhesives plant, a clothing manufacturer,
a stockist, a plant hire company, a freight forwarder, a charity, a firm
of solicitors, a wholesale and mail-order company (turnover £10
- Reconciling stock discrepancies at a major cash and carry
warehouse, whose 3 stock systems showed significant differences month on
month. I identified the cause of the differences, and wrote procedures to
enable accurate consistent records to be kept. This enabled the accounts
department to produce information that management could rely on.
Elaine Harrison MA FCMA has been an independent management accountant
for over 20 years. After obtaining her degree from Cambridge University,
she worked in electronic engineering before moving into management
accountancy with 3M. She then spent three years in cost control for
construction projects, and three years in management consultancy with
Ernst & Young. She founded Quality Information in 1987.