Management Advisory Services

Management Advisory Services is quite an exciting subject, but on the other side, also a sleep-destructing area of knowledge. In the first part of the discussions in module 1, the topics are a little bit easy to understand. In the definition of the terms “management” and “accounting”, I initially judged for some considerations that MAS is somewhat focused on accounting for the management, and as the discussions go on, it is by definition that MAS is really internal in nature. I also learned on the role of management accountants and their function in the management is of great value. The knowledge and skills that management accountants possess is deemed essential and healthy for an organization. In another area of discussion, financial accounting was distinguished from management accounting. This comparison gave me the idea that management accounting does not adhere to Generally Accepted Accounting Principles and therefore, management accounting is a matter of professional judgment and comsmon sense.