ART B (Answer all questions) QUESTION 1 Conventional management accounting focused on a static environment that had caused many aditional management accounting techniques to lose their relevance in the modern business environment (Kaplan and Johnson, 1987). Since the 1990s, a number of innovative management accounting techniques have been developed and have been widely publicized o support modern technologies and management processes, as well as companies' pursuit f competitive advantage. Ithough Malaysian-owned businesses continue to use traditional methods such as standard costing and budgetary control, larger corporations use newer management accounting echniques to drive their organizational performance such as just in time (JIT) system, total quality management (TQM), balanced scorecard, activity based-costing and activity-based management to gain a competitive advantage. Besides, the emergence of accountability and thical issues has created pressure on the organization to remain competitive. Thus, the changes in the business environment led the organization to adopt newer management ccounting techniques (Omar et al., 2003). Required: Discuss how modern management accounting techniques become more relevant to meet the changes in the business environment. Discuss THREE (3) points with relevant examples. (10 marks)