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Strategic Management Accounting - Essay Example
Finance & Accounting
Pages 7 (1757 words)
STRATEGIC MANAGEMENT ACCOUNTING Name Strategic Management Accounting Strategic Management Accounting is concerned with the field of management accounting and its main emphasis is upon data and information that is exogenous to an organisation, information that is non-financial and to some information that can be generated from within the organisation…
Historically the role of management accounting conferred to operational level budgeting, target setting and control with little or no influence towards strategy development. With the passage of time, this trend has been changed because of Strategic Management Accounting as nowadays this trend and focus has been driven towards strategy formulation and development (Kader et al, 2006). This strategy formulation and development makes management accountants to participate in formulating strategies within the organisation and this practise has been highly encouraged because these management accountants have a better operational level knowledge hence it helps in better goal congruence as well as proper implementation at the lower level of an organisation (Puolamaki, 2006). The most popular techniques that are used within Strategic Management Accounting are the Balanced Scorecard approach and the Activity Based Costing system. ...
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