Management accounting practice has traditionally focused on techniques to assist organizational decision-making and cost control. In concentrating on the internal environment, the management accounting function has been criticized for not addressing the needs of senior management to enable effective strategic planning. In particular, the criticism has focused on inadequate provision of information which analyses the organization's exposure to environmental change and its progress towards the achievement of corporate objectives.

Required:

Evaluate and explain how strategic management accounting can provide information which meets the requirements of senior managers in seeking to realize corporate objectives.