Question
The Board of Directors have expressed that they feel that the organisation is not keeping pace with the changes in the business environments that the
The Board of Directors have expressed that they feel that the organisation is not keeping pace with the changes in the business environments that the divisions operate in, and financial performance measurement of the divisions reveal that there has been little growth in the last three years. Your manager has discussed with you the feeling that the management accounting function could be better equipped to aid in the strategy of the organisation and has asked you to undertake further investigation.
Required: In your portfolio to your manager you must address the following issues in a section. Produce a briefing note (introduction, main findings and conclusion with academic literature to support) which addresses the following:
a) Why traditional management accounting may be considered less relevant to the modern business.
b) What is Strategic Management Accounting.
c) Outline how the Balanced Scorecard which is considered a strategic tool may benefit the organisation.
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