There’s no shortage of tools available to help management accountants define and manage their organisation's strategy, resources, customers and costs. How can CGMA designation holders decide which tools will truly help them drive performance and growth?
In this collection, we bring together the essential tools used by management accountants and outline how they can benefit the majority of organisations, regardless of size or sector. For each tool we’ve provided an analysis and review of its effectiveness as well as implementation tips and links to extra resources to further your knowledge.
But it doesn’t end there. Essential Tools for Management Accountants is by nature a collection that will change as methods and best practices evolve. Please bookmark this page and check back from time to time for additional content.
Governance and risk management
- CIMA Strategic Scorecard®
- Enterprise Risk Management (ERM)
- CGMA Ethical Management Reflection Checklist
- Risk Heat Maps
Strategic planning and execution
- Strategic Planning Tools (including mission/vision statements, goals and objectives, SWOT, PEST)
- Balanced Scorecard, including operational dashboards
- Strategy Mapping
- Porter’s Five Forces of Competitive Position Analysis
Performance management and measurement
Planning and forecasting
- Rolling Plans and Forecasts
- Activity-Based Budgeting (ABB)
- Scenario and Contingency Planning
- Cash Flow Modelling
Product and service delivery
- Activity based costing (ABC)
- Quality Management Tools - Including TQM, Six Sigma, Cost of Quality and EFQM