Strategic management accounting merges accounting with strategic management of business objectives. This is a forward looking business model that assists management in making decisions, keeping in consideration their current financial standing. The focus mainly is on internal accounting metrics in tandem with the external information related to market share, economic trends, costs and prices ad inflation and deflation. It is also about using the internal accounting information in formulating and implementing business strategies and decisions.
Strategic management - accounting plays a crucial role in effective execution of strategic decisions, ensuring viability and growth of business, managing the performance of an organization and identification, measurement, management and reporting of risks. It helps in carrying adaptive operations, cross-based planning and forecasting, which are further used while making decisions that will affect the future of the organization.
Strategic management accountants perform numerous related tasks, as a part of their ob profile. However, the degree of complexity differs, depending upon the experience and abilities and designation of an individual.Strategic Management AccountingStrategic Management
↧