MAS 2 Reviewer

MAS REVIEWER – PRELIMS I. What is a consultant? Consultant – someone who has expertise in a specifc areas and oers unbiased opinion and advice or a ee II. Reasons for becoming a consultant 1. Share knowledge to help client 2. Build business network 3. aving no boss! being independent ". #o ear o being laid o  $. aving %exible source o income &. ' means o giving back to the communit( b( providing expertise III. III. Attrib Attribut utes es essen essentia tiall to succe success ssful ful consultant ood ph(sical and mental health ood )udgement Responsibilit(! esponsibilit(! vigor! initiative Independence Intellectual *xpertise Proessional *ti+uette and ,ourtes( Stabilit( o Behavior Sel-,onfdence Strong anal(tical abilit( IV. IV. !uture Pros"ects 1. anagement ,onsulting will become even more speciali/ed 2. 0he 0he cons consul ulta tant nts s orie orient ntat atio ion n will will be towards being an insight provider 3. anagement ,onsulting will tend either to remain small o become +uite large ". 0he( 0he( will will deve develo lop p mor more soph sophis isti tica cate ted d means o marketing their services V. #he Consulting In$ustr% normation 0echnolog( ,onsulting and S(stems ntegration ,orporate Strateg( perations anagement uman 4esource anagement utsourcing VI. Main #%"es of Consulting !irms 1. I 0  0 5irms 5irms 2. Accounting 5irms oering consultanc( 3. Ma)or ,onsulting onl( frms ". Independents

VII. VII. Care Career er Stru Struct ctur ure e in Cons Consul ulti ting ng !irms &. Anal%s Anal%sts ts 6 resp respons onsibl ible e or gather gathering ing ino inorrmati matio on and pro process essing ing it or or the the consulting team -most graduates would start here '. Cons Consul ulta tant nts s – are are anal(s anal(sts ts who have have been promoted -und -under erta tak ke the the eval evalua uati tion on o the the clie client nt business and make recommendations on its behal  (. Seni Senior or Cons Consul ulta tant nts s or Manag anager ers s 6 more experienced consultants have responsibilit( or leading a consulting teams undertaking a pro)ect p ro)ect -more involved with members o the client team ). *usi *usine ness ss +e,e +e,elo lo"m "men entt Mana Manage gers rs 6 resp respons onsib ible le or develo developin ping g frms frms produ products cts and building relationship with client -have $-17 (ears o consulting experience -. +irectors or Partners 6 most experienced consultants who take resp respons onsib ibili ilit( t( or the develo developme pment nt o the organi/ation as a whole -have 178 (ears o experience experience in the feld VIII VIII.. atu ature re of MAS MAS b% In$e In$e"e "en$ n$en entt Accounting !irms &. Manag nagement ment A$,is ,isor% or% Ser,ic r,ice es 6 unction unction o providi providing ng proess proessiona ionall advisor( advisor( services -the -the prim primar ar( ( purp purpos ose e is to impr improv ove e the the clients use o its capabilities '. Management Consulting – independent and ob)ective advisor( services in order to help the client identi( and anal(/e management problems and opportunities opportunities -involves ,onsultation and *ngagement Consultation 6 providing advice inormation during a short time rame

and

Engag Engageme ement nt – an anal(tical approach and process is applied in a stud( o a pro)ect Engagement t%"icall% in,ol,es/ 1. 's 'sce cert rtai aini ning ng the the pert pertin inen entt act acts s and and circumstances 2. Seeking and identi(ing identi(ing ob)ectives 3. 9efnin 9efning g the probl problem em or oppor opportun tunit( it( or improvement

". *val *valua uati ting ng and and dete deterrmini mining ng poss possib ible le solutions $. :resenting fndings and recommendations &. mplementing the solutions! i possible

In$e" In$e"en$ en$en entt Accoun Accountin ting g !irm !irm ma%be ma%be in,ol,e$ in/ -planning and scheduling actions to achieve the desired results -advising and providing technical assistance in implementing In comb combin inat atio ion n 0ith 0ith 1no0 1no0le le$g $ge e an$ an$ e2"erience in areas in/ 1. ;ce ;ce orga organi ni/a /ati tion on and and mana manage geme ment nt methods 2. ;ce and management unctions 3. S(stems and procedures ". 9ata processing methods $. 3I. CPA4s ob5ecti,e in Engaging in MAS -=to utili/e the essential +ualifcations it has availa available ble to provi provide de advice advice and techni technical cal assistance which will enable client mana manage geme ment nt to cond conduc uctt its its aai aairs rs mor more eectivel(> These These essentia essentiall qualifca qualifcation tions s are based based in  part on attributes acquired on conducting other aspects o practice and include: 1. 0echnical ,ompetence 2. 5amilia amiliarit rit( ( with with the client clients s fnance fnance and control s(stem 3. 'n 'nal al(t (tic ical al abil abilit it( ( and and expe experi rien ence ce in problem solving ". :roessional independence! independence! ob)ectivit( and integrit(