Management accounting practices (MAPs) are critical to a company's success in this age of digital transformation. As a result, digital transformation is an unavoidable trend for high-quality business development. Companies will be able to increase their profitability by utilizing digital tools such as big data technology and artificial intelligence. According to previous research, the challenge for management accounting as the primary provider of information was to ensure that appropriate information was available to support management at all levels. Thus, it is expected that with digitalization, companies will be able to facilitate the implementation of MAPs in planning, decision-making, control, and evaluate performance, and creating new opportunities to increase the companys value and to ensure business survival such as small and medium-sized enterprises.

Required: You are required to choose any industry sector, such as manufacturing, services, and retailing. Discuss the factors and impacts of digitalization on management accounting practices and company performance. [Hints: Refer to journal articles to support your discussion. The discussion must be relevant to the industry you choose.]

Introduction

What are the factors influencing the adoption of digitalization

How digitalization impacts management accounting practices

How digitalization impacts company performance

Conclusion