Management Advisory Services - Area of accounting work concerned with providing advice and technical assistance to help clients

improve the use of their resources to achieve their goals

Management consultant - A person who is qualified by education, experience, technical ability, and temperament to advise or assist
businessmen on a professional basis in identifying, defining, and solving specific management problems involving the organization,
planning, direction, control and operation of the firm.

Consulting process - The analytical approach and process applied in a consulting service

Activities involved in a consulting process

(1) determination of client objectives
(2) fact-finding
(3) def. Of the problem or opportunities
(4) evaluation of alternatives
(5) formulation of proposed action
(6) communication of results
(7) implementation
(8) follow-up

Consulting services - Professional services that employ the practitioner's technical skills, education, observations, experience, and
knowledge of the consulting process

Examples of consulting services

Consultations
Advisory services
Implementation services
Transaction services
Staff and other support services
Product services

Consultations (Ex. Suggesting computer software for further client investigation) - Counsel based mostly on existing personal knowledge
about the client, technical matters, circumstances, client representations, mutual intent of the parties

Advisory services (ex. Defining requirements for an information system) - To develop findings, conclusions, and recommendations for
client's consideration

Implementation services (ex. Executing steps to improve productivity) - To put an action plan into effect

Transaction services (ex. Insolvency services and analysis of a potential merger or acquisition) - To provide services related to a specific
client transaction, generally with a third party

Staff and other support services (ex. Data processing facilities management and controllership activities) - To provide appropriate staff
and other support to perform tasks specified by the client

Product services (ex. Sale and delivery of packaged training programs and sale and installation of systems development methodologies)
- To provide the client with a product and related professional services in support of the installation, use, or maintenance of the product.

Factors for the emergence and growth of MAS consultancy

1. Growth in size and complexity of business firms
2. Complexities in managing and conducting a business
3. Lack of competent staff
4. Trend towards industrialization
5. Need for adequate and timely information in management decision-making
6. Development of techniques for the solution of management problems, and businessmen's awareness of their usefulness

Reasons for hiring management consultants

a. Help define specific problems and develop solutions
b. Provide specialized skills and experience