|Society of Management Accountants of Canada|
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Definition of Society of Management Accountants of Canada
Society of Management Accountants of Canada
the professional body representing an influential and diverse
The use of various forms of gimmickry to distort a company's true financial performance in order to achieve a desired result.
A characterization used by the Securities and Exchange
a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
Also called surplus management, the task of managing funds of a financial
A management style that de-emphasizes the significance of economic
A plan that provides retirement and long term disability income benefits to residents of Canadian provinces (excluding Quebec).
A bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value.
Very short maturity bills that the Treasury occasionally sells because its cash
a professional designation in the area of management accounting that
The application of financial principals within a corporation to create and
a set of formal methods
Fiscal or monetary policy designed to influence aggregate demand for goods and services.
The active manipulation of earnings toward a predetermined target.
an organization composed of individuals interested in the field of management accounting; it coordinates the Certified management
management refers to the individuals in an entity that have the authority and the responsibility to manage the entity. The positions of these individuals, and their titles, vary from one entity to another and, to some extent, from one country to another depending on the local laws and customs. Thus, when the context requires it, the term includes the board of directors or committees of the board which are designated to oversee certain matters (e.g., audit committee).
The production of financial and non-financial information used in planning for the future; making decisions about products, services, prices and what costs to incur; and ensuring that plans are implemented and achieved.
a discipline that includes almost
Management Accounting Guidelines (MAGs)
pronouncements of the society of management accountants of
Management buyout (MBO)
Leveraged buyout whereby the acquiring group is led by the firm's management.
management buyout (MBO)
Acquisition of the firm by its own management in a leveraged buyout.
Management/closely held shares
Percentage of shares held by persons closely related to a company, as
This is difficult to define in a few words—indeed, an
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management expense ratio (MER)
The total expenses expressed as an annualized percentage of daily average net assets. MER does not include brokerage fees and commissions, which are also payable by the Fund.
An investment advisory fee charged by the financial advisor to a fund based on the fund's
The fee paid to the fund’s manager for supervising the administration of the fund.
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
the preference of a manager in how he/she interacts with other stakeholders in the organization;
Related: Investment management.
a philosophy about increasing a firm’s performance by involving all workers and by ensuring
Operational Earnings Management
management actions taken in the effort to create stable
Passive investment management
Buying a well-diversified portfolio to represent a broad-based market
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
Related: Investment management
qualified investments (Canada)
Qualified investments is the term used for investments that can be held in an RSP. These investments generally include:
Real Actions (Earnings) Management
Involves operational steps and not simply acceleration
Registered Retirement Income Fund (Canada)
Commonly referred to as a RRIF, this is one of the options available to RRSP holders to convert their tax sheltered savings into taxable income.
Registered Retirement Savings Plan (Canada)
Commonly referred to as an RRSP, this is a tax sheltered and tax deferred savings plan recognized by the Federal and Provincial tax authorities, whereby deposits are fully tax deductable in the year of deposit and fully taxable in the year of receipt. The ability to defer taxes on RRSP earnings allows one to save much faster than is ordinarily possible. The new rules which apply to RRSP's are that the holder of such a plan must convert it into income by the end of the year in which the holder turns age 69. The choices for conversion are to simply cash it in an pay full tax in the year of receipt, convert it to a RRIF and take a varying stream of income, paying tax on the amount received annually until the income is exhausted, or converting it into an annuity with guaranteed payments for a chosen number of years, again paying tax each year on moneys received.
The process of identifying and evaluating risks and selecting and managing techniques to
RRSP (Registered Retirement Savings Plan) (Canada)
A savings plan registered with Revenue canada, which allows you to set aside a portion of your earned income now for use in the future. When you contribute to your RRSP, you are eligible to claim a tax deduction. However, cashing RRSPs at a later date will result in the payment of tax.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
spousal RRSP (Canada)
The RRSP rules allow you to contribute to an RRSP for your spouse and claim the deduction yourself. Your total contribution (to your own and your spouse's plan) is still subject to your normal contribution limits, minus any personal pension adjustment and any past service pension adjustment, plus any unused contribution room from prior years and any pension adjustment reversal. Generally, the advantage is that your spouse will ultimately be the one who reports the income for tax purposes when the funds are withdrawn on retirement or otherwise (certain restrictions apply). If your spouse will have a lower income than you when the funds are withdrawn, significantly lower taxes may be payable on the withdrawn amount.
Statement on Management Accounting (SMA)
a pronouncement developed and issued by the management
Strategic management accounting
The provision and analysis of management accounting data about a business and its competitors, which is of use in the development and monitoring of strategy (Simmonds).
strategic resource management
organizational planning for the deployment of resources to create value for customers and shareholders; key varibles in the process include the management of information and the management of change in response to threats and opportunities
the cooperative strategic planning,
Related: asset management
the use of all techniques that help an organization achieve its goals
Top-down equity management style
A management style that begins with an assessment of the overall
total quality management (TQM)
a structural system for creating organization-wide participation in planning and implementing a continuous improvement process that exceeds
A variety of approaches that emphasize increasing shareholder value as the primary goal of every business.
Working capital management
The management of current assets and current liabilities to maximize shortterm liquidity.
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