Management accounting literature is abundant with discussions and commentaries on the changing roles of management accountants....

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Management accounting literature is abundant with discussions and commentaries on the changing roles of management accountants. The advent of Johnson and Kaplan's, 'Relevance Lost,' has certainly turned the attention of many practitioners and academic towards, 'more advanced management accounting systems,' and has sparked the debate on the roles of management accountants within the organisation. It has been argued by many researchers that the management accountant is moving from their traditional role in the organisation as the, 'controller,' and, 'scorekeeper,' into a more strategic, internal consultancy role (Burns and Vaivio, 2003; Scapens and Jazayeri, 2003; Pierce, 2001). (Excerpt from Accounting Research Blog) REQUIRED: With reference to the above: (a) Discuss the potential contribution of the managerial accounting function to the long term strategy of a company (b) To what extent do you believe that Internal Reporting functions such as Management Accounting should be subject to standards Management accounting literature is abundant with discussions and commentaries on the changing roles of management accountants. The advent of Johnson and Kaplan's, 'Relevance Lost,' has certainly turned the attention of many practitioners and academic towards, 'more advanced management accounting systems,' and has sparked the debate on the roles of management accountants within the organisation. It has been argued by many researchers that the management accountant is moving from their traditional role in the organisation as the, 'controller,' and, 'scorekeeper,' into a more strategic, internal consultancy role (Burns and Vaivio, 2003; Scapens and Jazayeri, 2003; Pierce, 2001). (Excerpt from Accounting Research Blog) REQUIRED: With reference to the above: (a) Discuss the potential contribution of the managerial accounting function to the long term strategy of a company (b) To what extent do you believe that Internal Reporting functions such as Management Accounting should be subject to standards

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a The managerial accounting function plays a crucial role in the longterm strategy of a company by providing valuable financial and nonfinancial information to support decisionmaking planning and cont... View the full answer