Management Accountant Essay

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Businesses operate for the wealth of shareholders. Whether it provides goods or services, the aim is to make a profit by adding value. Nowadays these processes are closely monitored and controlled by the management accountants to ensure the highest return possible. Nevertheless, traditional budgeting and costing techniques are sufficient, but as the business environment changes, the demand for management accountant’s role become contentious. Under those circumstances, contemporary management accountants are suggested to become advisors, or business partners, that “solve business problems and help to instil more commercial astuteness” (Burns, Quinn, Warren, & Oliveira, 2013b, p. 5). Therefore, the purpose of this essay is to examine the changing role of management accountants with the evidences and critically appraise any controversies. For this reason, this essay aims to provide insight into the changing role of management accountants by first examine the current role in accordance to contemporary agreement. Then the discussion will analyse the factors that initiated the changes. These will build upon the arguments of the changing process, where …show more content…

The implementation of this information system into the business provided managers a greater freedom in acquiring management information and management accountants ceased to be the sole provider of it (Baldvinsdottir, Burns, Norreklit, & Scapens, 2013, p. 49). The survey from Yazdifar & Tsamenyi (2005, pp. 190-191) indicated that around 70% of the management accountants indentified such information technology as the most important change driver. The reason behind that may possibly be due to the streamlining, standardising and automation of business processes increased the efficiency of finance operations, forcing a transformation of the management accountants from merely bean counters to a business partner that supports decision making (CIMA,

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