& Decision Support
This Is the essence of Management Accounting.
A Certified Public Accountant (CPA) specializes in providing information about a company's operations to parties external to the company such as the IRS, bankers or shareholders. A primary focus is on standardized reporting and achieving compliance with applicable regulations.
A Certified Management Accountant (CMA), on the other hand, specializes in providing information about a company's operations to its internal managers. The focus is on developing relevant and timely information to help internal managers resolve the problems and make the decisions that arise on a day-to-day basis.
Providing management information and analysis means answering questions. Accounting Insights specializes in reducing complex financial circumstances into simple models that we can then manipulate to examine different alternatives and answer your questions.
Budget Planning & Reporting at RPU
The firm was engaged to help Rochester Public Utilities (RPU) design and implement a budget planning and reporting process. Budget planning wasn't new to RPU, but in years gone by the budget for RPU had been developed solely for the organization as a whole, and Accounting had done the planning. RPU’s General Manager wanted that to change. He wanted budgets developed at a cost center level and he wanted his cost center managers actively engaged in the budget planning and reporting processes. The budget reporting metrics have subsequently become an integral component of RPU’s enterprise measurements