For BSA 5 A Students of EVSU only.
A. Establishment of capital budgeting procedures
B. Study of the cost of capital and cost of debt
C. Establishment of operating and cash budgets
D. Variance analysis
A. Involve decision for the future
B. Broader in scope and varied in nature
C. Utilize more junior staff than senior member of the firm
D. Relate to specific problems expert help is required.
Cost analysis of major investment decisions
Design, installation or review of budgetary system
Valuation of capital stock of companies for purposes of mergers or sales
Adequate training and experience in both the analytical approach and process in the particular undertaking are requisites for the CPA to be involved in a management service engagement.
A CPA with MBA and Ph.D. degrees is automatically qualified to render management services.
Competence as a standard n the rendition of management services by a CPA may be equated to having excellent scholarly preparation to include the usual baccalaureate degree, an MBA and other post graduate studies
A certified public accountant by virtue of having the necessary academic preparation and by hurdling the licensure examinations required to have a CPA license can readily render management services to the public.
Professional and technical competence.
Analytical experience in problem solving.
Auditor of the client.
Professional independence, objectivity and integrity
CPAs are highly educated
Only CPAs may render MAS
The CPA is already familiar with the client and his business, ad enjoys his client’s confidence.
A CPA is a person with recognized standing
With prior experience in the client’s industry
With a combination of skills and experience in various business functional areas as well as in different industries.
Who are likely to employ different approaches to problem solving such as highly imaginative thinking, or unusual skill in the interpretation and use of financial and statistical data.
With the appropriate skills and experience and types of thinking to deal with the client’s problems.
Diligence and appropriate attention in carrying out the assignment
Systematic critical review of the work done and judgment exercised
All of the above.
Performing management functions and making decisions
Introducing new ideas, concepts and methods to management
Improving existing policies, methods and procedures
Performing special studies, preparing recommendations, and formulating plans and programs.
The consultant should present the value of his services as forcefully as he can because the potential client will benefit from the use of these services
The consultant should call to the prospective client, listen to an explanation of the problem, and then agree to do as the prospective client wishes provided the work lies within the field of the consultant’s competence.
The consultant should diagnose the existing problem by personal investigation, help the prospective client define it clearly, consider various methods of solutions, recommend the approach which will best meet the requirement of the situation and make sure that the prospective client understands what the consultant purposes to do, how long it will take, how much it will cost and what probable benefits will result.
The consultant should recommend the technique or procedure which will solve the prospective client’s problem and should refer him to other clients who have used the same technique or procedure successfully in the past.
Here's an interesting quiz for you.