Managerial Finance and Accounting Essay

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Managerial Accounting: Organizations and Expectations

The profession and practice of accounting has become increasingly prominent and increasingly scrutinized over the past decade or so, in the wake of major scandals and upsets in the business world that can be traced in part to nebulous and unethical accounting practices or outright frauds. Because of this increased prominence, accountants today need to be more concerned than ever with not only the standards to which they hold themselves and their work, but also the appearance of these high standards and performance capabilities. This is one of the major benefits, along with many others, of belonging to a professional organization. The authority and austerity that the right professional organization carries provides these abstract as well as concrete benefits to member accountants, from increasing confidence and camaraderie to detailing the actual expectations and requirements of the task of accounting.

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The Institute of Management Accountants is one of the largest and most prestigious professional organizations for accounting managers, and provides many intrinsic and extrinsic benefits. Membership is in and of itself a sign of commitment to the profession and the high standards of the group, increasing client confidence and accountant prestige, and the Institute also produces and disseminates many publications and other support services that help keep accountants up-to-date and well-informed regarding issues relevant to managerial accounting (IMA, 2012). In addition, the Institute provides a certification program that offers a unique credential that could lead to eve more substantial gains in knowledge in confidence (on the parts….....

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