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Mgt. Acctg.--Strategic Implications

Explore the strategic implications of management accounting in today's business world, focusing on the importance of cost efficiency, time management economics, and strategic decision-making. Learn about the evolving roles of management accountants, from scorekeepers to strategic partners, and the essential business skills and financial management guidelines they must possess. Discover how management accountants must blend technical skills with behavioral attributes to excel in their roles.

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Mgt. Acctg.--Strategic Implications

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  1. Mgt. Acctg.--Strategic Implications • M/A’s must use KTT in their business decisions to meet “customer” needs. • M/A’s must be cost efficient and cost effective. • M/A’s must promote the economics of time and excel at their own time mgt.

  2. IMA’s M/A Roles • Business and strategic partner • Provider of strategic business understanding • Participant in problem solving • Team member • Provider of information • Process facilitator

  3. From Scorekeeper to Player • Role change driven by: • Information technology • Global competition • Two models for M/A’s • Corporate cop--evaluator • Business advocate--enabler • Dual accountability & org. structure • Solid vs dotted-line relationship

  4. Accounting Business Skills“The What” • Business Perspective • Organizational Focus • Bias for Action • Communication Excellence • People Proficiency

  5. Financial Management Guidelines“The How” • Cc • KTT • MBWA • R ƒ R3 • responsiveness • reliability • relevance

  6. Mgt. Acctg.--Attribute Implications • M/A’s must possess broad business oriented technical skills. • M/A’s must possess the behavioral attributes of a team member, be tolerant with ambiguity and be comfortable with “soft” future-oriented numbers.

  7. Mgt. Acctg.--Attribute Implications • M/A’s must be culturally ethical and develop the mindset of a participant.

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