Managing Accountant Position

MEMORANDUM

Do It Wright the First Time, LLC

Parting Blvd. Suite 1280

Mansing, Texas 48226

January 8, 2012

To: Darryl Wright, CEO

From: Demetria Mitchell, Accounting Mgr.

Subject: Managing Accountant Position

This is in reference to considering opening a managing accountant position at out prestigious company. Management accountant is more than just about producing financial statements; but it's about interpreting accounting information for management use (AIU, 2012). The objectives of an internal accounting system are as follows: to help companies achieve their stated goals and missions by motivating managers to achieve organizational goals, evaluate and reward decision-making performance; and the overall objectives creates a reward system that' slinked to performance measured by the accounting system (AIU, 2012). The characteristics of an internal accounting system are users and decision-makers; purpose of information to assist in making planning and controlling decisions; flexibility (no GAAP constraints); timeliness of information without the need to wait for an audit; time dimension-projections and estimates, historical information; focus of information organization's projects, processes, and subdivisions; and nature of information whether monetary/nonmonetary (Wild & Shaw, 2012). Internal accounting information is important to the company to direct, monitor, and measure the effectiveness of the accounting operations (Ehow, n.d.). In conclusion, ethics is based on right and wrong behavior (Wild & Shaw, 2012). The managerial accountant's role in upholding the code of ethics is clearly required by their professional association for management accountants. They are required to be competent, maintain confidentiality, and act with integrity and communication information in a fair and credible manner (Wild & Shaw, 2012).