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Table of Contents Introduction Role of the Management Accountant in international outsourcing Conclusion Cited Works Introduction The use of international outsourcing is primarily intended to forward knowledge processing assignments to international partners/agencies, in order to attain sustainable cost and efficiency advantages. Besides the marketing advantages, such outsourcing entails, it is also possible to effect cost savings and reduction in workload of the outsourcing due to use of the international outsourcing techniques. The competitive advantages of international outsourcing could be seen in terms of quicker and speedier responding to market changes, resource planning and allocations, budgetary controls and more efficient and resourceful utilization of human assets. Thinking strategically, “Irrespective of the size of a company, the ability to be able to manage the internal flow or trend of expenses and revenue is key to success.” ( Eseyin Kehinde: MAC in SAP Business One : http://blogs.ittoolbox.com/sap/kehinde/archives/management-accounting-in-sap-business-one-9851 The need for international outsourcing may also occur due to shortage of skilled and specialized professionals in the host country, thereby leading to the need for meeting these shortages, by the use of specialists’ knowledge and talents from other countries. (Mierau, Alexander: 2007: Strategic importance of Knowledge Process Outsourcing : http://www.outsourcingtoday.com/pdf/white-papers/Strategic-Implications-of-KPO.pdf. Besides budgetary constraints and need for efficient outsourcing, this also results in competitive advantages in terms of better output and skill utilization in the countries in which such international outsourcing is conducted. Role of the Management Accountant in international outsourcing The Institute of Chartered Accountants of England and Wales has defined management accounting as any form of accounting which enables a business to be conducted more efficiently can be regarded as management accounting. Any service rendered by the accounting department of a business which increases the efficiency can be regarded as Management Accounting. Thus any service rendered by the accouting department of a business which goes on to increase the income generating capacity of a business enterprise, is known as operational efficiency of management accouting. “The battle for financial statement integrity and reliability depends on balancing the pressures of multiple stakeholders, including management, regulators, investors and the public interest. We present the guidance and tools to make audit committee best practices actionable.” The American Institute of Certified Public Accountants (2006) http://www.aicpa.org/Professional Resources/Business Industry and Government/Audit Committee Effectiveness Center Get your 100% original paper on any topic done in as little as 3 hours Learn More In the year 1987, the International Federation of Accountants has issued a very detailed and illustrative definition of Management Accountant. According to the IFA, Management Accountancy, Management Accounting is the process of: Identification and Measurement: The recognition and valuation of business transactions or other economic events that have occurred or may occur in the future : Accumulation: the disciplined and consistent approval to recording and classifying appropriate business transactions and the economic events. Analysis: the determination of the reasons for and the relationships of the reported activities with other economic events and situations. Preparation and interpretations: the meaningful co-ordination of accounting and or the planning of data to satisfy the need for use of the information prescribed in a logical format and if appropriate, the inclusion of the conclusions, drawn from the data. Therefore, it could be reasonably said, that the rules of the management accounting principles and precepts, in the business building role of management accounting, and in the context of international outsourcing, could envisage the following aspects: (Advancing the profession 1997): Institute of Management Accountants : http://www.imanet.org/ Providing Accounting information: This is based on the accounting information provided by the outsourcer to the various outsourced companies in specified destinations of the world. The generation of the management accounting data to be used for outsourcing is basically derived from the accouting department. These raw data needs to be processed and refined before being used for outsourcing purposes. The cause and effect theories also come into play in the case of international outsourcing of accouting information. Companies make losses or profits, depending upon many factors, like costs, incomes, use of assets, control of costs, etc. It is necessary for the management accountant to not only record profits or losses, but also, analyze how and why, such profits or losses have been established. Through this method, it is possible to maximize the incidence of profits, and also, minimize the occurrence of losses. The use of accounting tools that are known as financial planning tools, standard costing and marginal costing tools, budgetary controls and formulation of budgets and application of standard costing methods and techniques for maximum results, and “the core management competencies include accounting knowledge, business analysis, solution development, planning and communication.” (Management Training

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