Management Accounting Question

GROUP ASSIGNMENT (the Chosen company is Fisher & Paykel Healthcare Corporation Limited).

With rapid and unpredictable changes in the business environment, many NZ companies often face intense competition. The need for these companies to rely on strategic management accounting (SMA) to make informed business decisions, maximise financial performance and create stakeholder value has become apparent. Required:

Working in groups of 4-5 students, select one large NZ company that operates in a highly competitive environment. Assume you are the senior management accountant of this company. Prepare a report to the CEO that addresses the following questions:

1. What are the key changes in the business environment and what impact are these changes having on your chosen company.

2. Critically evaluate the strategies of your chosen company and briefly explain how SMA could contribute to the achievement of the companys goals and objectives.

3. What specific management accounting tools and techniques may support the strategic management functions of your chosen company? In your answer, clearly explain the following:

a. What are the specific SMA information needs of your chosen company?

b. How SMA tools and techniques will apply to produce this information and help manage costs, improve financial performance, and create stakeholder value.

In an appendix to the report, each group member must include a reflective statement that summarises his or her contribution, key challenges faced in preparing the report, and the key learning experiences gained from this assignment. (Word limit 250).