You have applied for a position of a Junior Management Accountant. As part of the selection process, you need to write a report addressing the following issues:

1. How will you define Management Accounting? Discuss the contemporary roles of a Management Accountant and distinguish it from the traditional roles.

2. Give an analysis on the contemporary management accounting tools highlighting how these tools help business in taking strategic decisions particularly in the changing environment. In answering this question, critically evaluate at least five (5) contemporary Management Accounting tools.