This case study describes the role of the management accountant. Read it now, but only attempt the discussion points after you have finished studying the chapter.
The day of the ‘bean counter’ has gone forever.
Line managers responsible for the day-to-day profitability of their business operations use sophisticated software to analyse the financial consequences of their decisions. Financial record-keeping and analysis are automated.
And financial accountability has become a key part of every executive’s job description.
Meanwhile, to maintain the growth rates that capital markets demand, business leaders are compelled to make increasingly risky decisions.
They look to their finance people to support and participate in these decisions to help them understand the risks and likely consequences and to help manage the rapid change that their organisations must then undergo.
This means that management accountancy skills influence every area of a business, are internationally recognised and are valued in every business and industry sector.

Discussion points
1. What does the phrase ‘bean counter’ mean?
2. How do line managers and business leaders use management accountants to help them in their management activities?