Changing Role of Mgmt Accountant

Changing Role of Mgmt Accountant

  • Submitted By: ankitrahul
  • Date Submitted: 01/13/2011 2:43 AM
  • Category: English
  • Words: 7173
  • Page: 29
  • Views: 2

INTRODUCTION
Management Accounting is one of the areas in the field and profession of accountancy that responds to the needs of business and follows developments in commercial activity. In the new environment created by the power of computing and the displacement of traditional accounting tasks, companies are looking to their financial experts to act as business partners with operations managers by providing information to support decision-making.  (2006) claimed that accountants are increasingly involved in strategic management through the development and implementation of new accounting models integrating financial and non-financial information. With the increased automation of many accounting tasks, the Chartered Management Accountants will be asked to take a more proactive role in strategicbusiness decision-making at an earlier stage in their careers. In addition, employers are beginning to demand that newly Qualified Chartered Management Accountants become more actively involved in the areas of strategic management and systems design (1998).
The job of the management accountant in any contemporary business firm is made more challenging by the ambiguous and ever-changing nature of global business. Since much of the management accountant’s job is to provide relevant information to management, staying up to date requires reading books, and journals in a variety of business areas, including information systems, marketing, management, politics and economics. In addition, the management accountant must be familiar with the financial accounting rules of the country or countries in which the business firm operates. This trend toward globalisation has a major impact on how a management accountant fits into an organisation. A rising manager within the domestic operations of a Hong Kong-based company, for example, will eventually reach a level where he or she is responsible for an operation where distance makes it impossible for him or her to manage through daily...

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