Management Accounting

Management accounting is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.

Management accounting information is usually confidential and used by management, instead of publicly reported; forward-looking, instead of historical; pragmatically computed, instead of complying with accounting standards.

Value Added Solutions

Lochan & Co is consistent with different roles in today's corporate environment. Lochan & Co’s management accountants have a dual reporting relationship. As a strategic partner and provider of decision based financial information, management accountants are responsible to the business management team while at the same time also have reporting relationships and responsibilities to the corporation's finance organization.

Benefits

  • The activities Lochan & Co’s management accountants provide inclusive of forecasting and planning, performing variance analysis, reviewing and monitoring costs inherent in the business are ones that have dual accountability to both finance and the business team.
  • Lochan & Co experts prepare financial reports; reconciliations of the financial data to source systems, risk and regulatory reporting that are more useful to the management accounting.
  • Lochan & Co widely holds view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting.
  • Consistent with the notion of value creation, management accountants of Lochan & Co help drive the success of the business while strict financial accounting is more of a compliance and historical endeavor.