MANAGEMENT ACCOUNTING

EXPERIENTIAL PROJECT
INTERVIEW OF – CA Rahul Jhuria
CA Lipi Mayee Dash
 INTRODUCTION
CA Rahul Jhuria
(Practicing CA since 2015)

Academics:
BCom(h) in accounting
Diploma in Information Audit from ICAI

Career:
• Started Article ship with Hari bhakti & Co. (Mumbai).
• He did Internal Audit of RBI and Midday Newspaper in Mumbai
• He also worked in firms, corporates, financial institutions, banks like Canada
Bank, SBI and Public sector undertakings like Assam state electricity board and
production and distribution divisions.
• Currently he’s working in his father’s firm- Jhuria & Co.
 INTERVIEW QUESTIONS
Q1. What role is played by management accountants in the corporate world?

Ans- They provide key insights that helps in company management in decision making. They prepare financial and
statistical data that is prepared with the help of accounting software which is used to keep a check on the finance of
the company. They also help them to take decision regarding day to day activities related to company's business.

Q2. How Management Accounting is used by the corporate world?

Ans- The Management Accountants work with the public sector as well as private sector and government agencies.
Their duties include recording of and dealing with numbers that help them to manage the company’s investment,
budgeting, planning strategies and decision making.

Q3. What we should know as a student of Finance/Accounting about Management Accounting?

Ans- The person should have interest in numbers, basic accounting knowledge and interest in production process. The
person should know aptitude and skills about management accounting and also should have leadership skills about
auditing and accounting practices.
Q4. How do Cash Budgets prepared by the company help?

Ans- They help management to take an estimate regarding cash

position of the company well in advance related to different
financial periods. It indicates requirement of cash or capital
investment etc.

Q5. What all are the specific skills required to be a good

accountant of a company?

Ans- To be a good accountant of a company the person should

have numerical skills, eye for details like if any small mistakes are
there he should see the things very particularly. Should have time
management skills, organisational skills, computer skills,
communication skills and leadership skills. The person should
have business awareness about what is going on the business
scenario.
 INTRODUCTION
CA Lipi Mayee Dash
(Practicing CA since 2018)

Academics
BCom
Diploma in System Audit(ICAI)

Career
• Core area – Taxation Compliance
• Has worked with various firms and corporates
• Currently working at Goutam & Co. since September 2018.
INTERVIEW QUESTIONS
Q1.How is Management Accounting used in corporate world?

Ans- It provides financial information that helps in the managerial decision making of the company. It
focuses more on forecasting and long term business decision. Along with short term decision it is also
beneficial for long term survival of the business so it determines many things like pricing, market factors
and profitability. Basically, it helps in decision making process with corporating financial information.

Q2.Describe a time when you met a particularly tight deadline and explain how did you manage it.

Ans- Around the year there are deadlines like GST and Income Tax, ROC compliance. So, we plan
beforehand because it is certain that there would be deadline to meet and so we plan accordingly and
prepare the data and do proper data and time management.

Q3. What types of accounting soft wares have you used?

Ans- The two basic soft wares which we use are-

For accounting purpose we use software like TallyPrime.
For Taxation Compliance we use ClearTax software.
Q4. What all accounts are you required to prepare in a company?

Ans- There is only one financial statement that is given by the company to its stakeholders, i.e. the
balance sheet and profit & loss statement. So in order to prepare balance sheet and P/L statement,
there has to be consolidation of data, consolidation of sale and purchase. So once we have
consolidated this data(sale, purchase, expenses, loan fund, interest payments, etc then only we can
prepare the P/L statement according to the Indian Accounting Standard.

Q5. What are the main tools and techniques used by a management accountant?

Ans- Tools depend on the type of business the accountant is working with, it can be based on many
things like in finance accounting information ratio analysis, graph and diagrams are important, return
on capital employment are the various tools used.
If we talk about cost accounting information then marginal cost techniques, incremental cost
techniques, budgeting, business forecast are the various techniques that are used.
 ANALYSIS OF THEIR VIEWPOINTS

CA RAHUL JHURIA CA LIPI MAYEE DASH

Role played by management accountants in the corporate world

• They help in decision making in a company • Basically, it helps in decision making

by providing financial and statistical data. process by corporating financial
information. They also help in long term
survival of the business by determining
many factors like pricing, market factors
and profitability.
Specific skills required to be a good accountant of a company

• Numerical skills • Basic knowledge of accountancy

• Eye for details • Knowledge of the industry
• Time management skills • Problem solving skills
• Organisational skills • Time management skills
• Computer skills • Communication skills
• Communication skills
• Leadership skills.
 KEY LEARNINGS
1. We learnt that to be a good accountant (Cost, Financial, Management or Chartered Accountant)
there are certain skills and qualities that are common and mandatory like basic knowledge of
accounting and the particular industry, proper time management, basic accounting practices,
interest in numbers and leadership skills.

2. We also learnt that Management Accounting helps in planning financial strategies and decision
making.

3. We also came to know about various accounting soft wares used by different accountants in
different companies.

4. We learnt that various tools and techniques which includes graphs, diagrams, cost calculations,
budgeting and forecasting is used by a management accountant to help in framing the financial
strategies and helps in better decision making for optimum utilization of resources.

5. We learnt that proper time management and planning help us to be more effective and efficient
in our work.
 THANK YOU
MEMBERS
Shivangi Anand – 21021021257
Shreya Thareja – 21021021260
Sidhi Goel – 21021021272
Swati Das – 21021021281
Unnati Tiwari - 21021021300