Role of Strategic Management Accounting

Strategic management accounting is the full range of management accounting practices used to provide a guide to the strategic direction of an organization.

Roles:

(1) Provides information:
** on the financial aspects of strategic plans and
** on planning financial aspects of their implementation.

(2) Support managers in the task of managing the organization in the interests of all its stakeholders

(3) Places an emphasis on using information from a wide variety of internal and external sources in order to evaluate performance, appraise proposed projects and make decision.

(4) Focuses on the external environment as much as on the organization itself.

(5) Monitors performance in line with the strategic objectives in both financial and non-financial terms.

(source: BPP :Learning Media)




*********************