Editing Management accounting (section)

==Scope, practice, and application==
{{See also|Management accounting principles|Decision theory}}

The Association of International Certified Professional Accountants (AICPA) states management accounting as a practice that extends to the following three areas:
* [[Strategic management]] — advancing the role of the management accountant as a strategic partner in the organization
* [[Performance management]] — developing the practice of business decision-making and managing the performance of the organization
* [[Risk management]] — contributing to frameworks and practices for identifying, measuring, managing and reporting risks to the achievement of the objectives of the organization

The [[Institute of Certified Management Accountants]] (CMA) states, "A management accountant applies his or her professional knowledge and skill in the preparation and presentation of financial and other decision oriented information in such a way as to assist management in the formulation of policies and in the planning and control of the operation undertaking".

Management accountants are seen as the "value-creators" amongst the accountants. They are more concerned with forward-looking and taking decisions that will affect the future of the organization; than in the historical recording and compliance (score keeping) aspects of the profession. Management accounting knowledge and experience can be obtained from varied fields and functions within an organization, such as information management, treasury, efficiency auditing, marketing, valuation, pricing, and logistics. In 2014 CIMA created the Global Management Accounting Principles (GMAPs).<ref>{{cite web |url=http://www.cgma.org/Resources/Reports/Pages/GlobalManagementAccountingPrinciples.aspx |title=Global Management Accounting Principles |date=24 October 2014 |access-date=2015-04-16 |url-status=live |archive-url=https://web.archive.org/web/20150423144019/http://www.cgma.org/Resources/Reports/Pages/GlobalManagementAccountingPrinciples.aspx |archive-date=2015-04-23 }}</ref> The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline.<ref name=FT>{{cite web|last=King|first=I.|title=New set of accounting principles can help drive sustainable success|url=http://www.ft.com/cms/s/0/0b595a98-59fa-11e4-8771-00144feab7de.html?siteedition=uk#axzz3Q8Lp1OP9|publisher=ft.com|access-date=28 January 2015}}</ref>