Managerial Accountant
With regards to my request for a Managerial Accountant, I would like to explain why I sincerely believe that there is a need to hire another one, who will focus on the internal accounting aspects of our company. First of all, allow me to enlighten you on the objectives and characteristics of an internal accounting system. “The main objective of an internal managerial accounting system is to provide information to managers so they can make sound decisions”. The internal managerial accounting system plays a significant role in the planning and budgeting functions because there is a factual basis for major corporate decisions. Moreover, an internal accounting system makes it possible to create work flows and processes that are more efficient and effective.
A lot of information and relevant data can be more organized and easily accessible with a well-designed internal accounting system. These information are useful to most, if not all employees and officers of the company. These information may include a list of all clients and their other pertinent data, the number of hours spent in completing a certain stage in the manufacturing process, the amount of materials used in producing a particular product, evaluation of an employee performance and the actual versus budgeted sales and expense figures. All these data can be very useful to the board of directors, corporate officers in various departments, business unit and plant managers and supervisors. If these information are not on hand, it would be very difficult to make a reasonable decision. Unlike the external accounting reports, the internal accounting are less structured and customized according to the organization of the business, its needs and the decisions that have to be made.
The managerial accountant will be responsible for supplying information used in business planning, specifically for budgeting and forecasting. He will also be in-charge of generating reports that will analyze the relationship between cost, volume and profit. The managerial accountant will handle the design of investment appraisal techniques that will help the company decide on the viability of possible business opportunities. Measuring and monitoring the effectiveness of internal business controls is another area which the managerial accountant will focus on.
The managerial accountant plays a vital role in upholding the code of ethics of a business. It is the role of the managerial accountant to ensure that all the information are stated in full, truthful and without any biases, regardless of whether it is encouraging or discouraging for the company. In this regard, it is necessary that a managerial accountant should be trustworthy and must abide by the company’s code of ethics, since the data he handles is confidential and sensitive. Managerial accountants are guided by a code of ethics which emphasizes competence, confidentiality, personal integrity and credibility. The role of the managerial accountant is crucial in maintaining public trust. They are in a position to reflect and reinforce the ethical aspirations of a company.
In view of the above, may I kindly ask your good office to consider hiring another managerial accountant? I believe that it is to the best interest of our company to employ a qualified and trustworthy managerial accountant.
Thank you and I am hoping for your kind consideration.
References
Kelsey, M. (. (2013, May 8). A code of ethics: Management in accounting. Retrieved from hubpages.com: http://hubpages.com/business/A-Code-of-Ethics-Management-in-Accounting
Lohrey, J. (n.d.). Summarizing the role of ethics in managerial accounting. Retrieved from azcentral.com: http://yourbusiness.azcentral.com/summarizing-role-ethics-managerial-accounting-27684.html
Shanker, S. (2016). Objectives of internal managerial accounting systems. Retrieved from Hearst Newspapers, LLC: http://smallbusiness.chron.com/objectives-internal-managerial-accounting-systems-20945.html
