PART A - DISCUSSION QUESTION (30 MARKS) Below are some common themes and challenges in management accounting include: 1. Technology Integration: The rapid advancement of technology, including automation, artificial intelligence, and data analysis, poses challenges and opportunities for management accountants in terms of adapting to new tools and leveraging them efficiently. 2. Data Security and Privacy: With the increasing reliance on data for decision-making, management accountants need to address concerns related to data security and privacy. Ensuring the confidentiality and integrity of financial information is crucial. 3. Globalizaon and Regulatory Changes: Global business operations and changes in regulatory environments across different regions can impact management accounting practices. Staying compliant with evolving regulations and managing diverse financial systems can be challenging. 4. Sustainability Reporting: There is a growing emphasis on sustainability and environmental, social, and governance (ESG) considerations. Management accountants are increasingly involved in tracking and reporting on sustainability metrics, which adds complexity to their responsibilities. As a management accountant, you should be aware that these challenges might have multiple eects on the design and structure of the corporate management accounting system. Please select ONE challenge and discuss what are the possible inuences it may have on the management accounting system. Using example to illustrate your arguments. (Hint: You should use journal articles, news, and discussion opinions from dierent sources of information to support your idea. Write an essay to discuss this topic.) You can consider the inuence in the following areas: The input of data in the system The processing of data of management accounting systems The timing and content of the report How it supports the decision making, planning and budgeting How it supports other areas of management activities.