Discuss the implications of these seven trends in managerial accounting and how they will be applicable nowadays. Explain the connections and applications of these management concepts or practices in today's business environment. 250-300 words per trend.

Trend #1 Expansion from product to channel and customer profitability analysis

Trend #2 Management accountings expanding role with enterprise performance management (EPM)

Trend #3 The shift to predictive accounting

Trend #4 Business analytics imbedded in EPM methods

Trend #5 Co-existing and improved management accounting methods

Trend #6 Managing Information Technology and Shared Services as a Business

Trend #7 The need for better skills and competency with behavioral cost management