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 various aspects of the role will be assessed. Finally, the last section will take a brief look into the future through analysing projections of how the change may guide management accountants.
To begin with, Weetman (2006, p. 432) identified three functions of management accounting: directing attention, keeping the score and solving problems. He relates these roles to the stages of planning and control to illustrate the relevance. For example, measuring the quarterly performance is linked to the objective of keeping the score and it leads to the examination of the future environment. Likew...
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...but a call to “be a logicial analyser of management decisions and a providre of relavant information” (Baldinvsdottir et al., 2010, p. 4).
Indeed, there is still value in the older techniques, which recogised by the IFAC in their phases of development by demonstrating that each phase is the broadening of the previous (Burns et al., 2013a, p. 477). In that manner the bean counter and business partner can co-exist and be simply a rebalancing of the traditional role and changing responsibilities (Baldinvsdottir et al., 2013, p. 48;).
As a conclusion, the change in management accountant’s role is on going. External factors will continue to drive the development. Whatever holds in the future for managers and their partner, it is essential to remember that “management accountants need to be adaptable, but they must also remain decisive” (Baldinvsdottir et al., 2010, p. 7).
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