At a recent Certified Management Accounting (CMA) conference in Sydney, the keynote speaker said, 'Management accountants are

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Question:

At a recent Certified Management Accounting (CMA) conference in Sydney, the keynote speaker said, 'Management accountants are the doctors of business.' You have been approached by several non-accountant friends at the conference to explain what the statement really means.

Required:

Using academic sources and your own knowledge of this unit, explain the meaning of the given statement. Analyse this statement in relation to strategic planning, short-term operations, and sustainable business practices. Provide specific examples to illustrate your points.

Additional Information

You must source at least two (2) peer-reviewed journal articles from the academic literature. Journal articles must be published from year 2005 to current. For peer-reviewed journal articles, you can search online using Google Scholar (not Google) or access relevant Management Accounting and Accounting Journals via the ProQuest Database.