DOES FUTURE OF MANAGEMENT ACCOUNTING LIE IN STRATEGIC MANAGEMENT Essay

DOES FUTURE OF MANAGEMENT ACCOUNTING LIE IN STRATEGIC MANAGEMENT ACCOUNTING - Essay Example In the early days when people started conducting trade they learned to arrange financial information in a systematic manner. As time progressed further the concept of accounting gained popularity and people introduced several changes to make it more effective and useful for maintaining financial records. Management accounting is a branch of the traditional accounting system that is used by the managers to obtain the valuable information about the business. Management accounting plays a vital role in the decision making process. Managers use management accounting to derive information while making business decisions. With time the international business environment has undergone several changes. Due to the effect of globalisation, businesses have lost their geographical boundaries; therefore there has been a requirement of an accounting system that assists in understanding global business environments. The governments of the different nations are also more concerned in making the business activities more transparent by making the accounting standards stringent. Therefore, the management has to maintain an effective accounting system so that information regarding the external environment can be used to make the business policies proactive. Requirement of an effective and advanced accounting system has resulted in the development of a strategic accounting system. In the given project a thorough comparison will be made between management accounting system and strategic accounting system. The main aim is to analyse how far strategic accounting system is effective in overcoming the drawbacks of management accounting system and to assist managers in developing a sustainable business environment. Management accounting provides the information required by the managers for planning, controlling and decision making (Jiambalvo, 2007, p.2). In the process of decision making related to resources allocation, making

Intercultural Experience Personal Statement Example | Topics and Well Written Essays - 500 words

Intercultural Experience - Personal Statement Example Today she was cooking pulled pork that was slow cooked in oil. Maria served this on freshly cooked corn tortillas with a variety of toppings. It was obvious in the household that the family was from Mexico and had a rich religious tradition. There were religious icons on the end tables as well as a bible in a conspicuous place on the table. There were also pictures on the wall that depicted religious scenes. I asked Maria about there religious background and she told me they were Catholics. The father, Juan, said that the Catholic religion was a dominant religion in Mexico and both he and Maria had become Catholics at birth and had been baptized into the religion as young children in Mexico. There was no doubt that Juan was the head of the household. He sat in the chair that dominated the living area. When the meal was served, Juan sat at the head of the table and was served first. The family seemed to attend to his needs and offered him a great amount of respect. I asked Maria if her children were always as well behaved as they were today, or if they were just on their best behavior for my benefit. She said that they were always well behaved during dinner. Meals were a special occasion and the children and family regarded mealtime as a time to talk and communicate with one another.