Accountant Role In Business Essay

1742 Words7 Pages
11/11/2017
Marta Silva
“Are Management Accountants Important Strategic Partners in Corporate
America’s Management teams? Despite the great stride in efforts made by the financial industry in the last twenty years, many still view management accountants as they were in the 1980s; the ‘scorekeeper’, the ‘corporate cop’, sitting in their cubicles running numbers from dusk to dawn. However, in the modern era accountants have started taking on new roles in corporations, becoming strategic planners and, in many cases, business partners. This is greatly due to the continuingly changing environment of the business world and how accountants are being asked to take on further responsibilities to handle the new challenges and competition
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The first big factor of this change is globalization. Defined as the convergence of many markets around the world from different points to allow for further trade and the development of an organization’s international influence and operations on an international scale. “In a narrower sense, it refers to the economic exchange of goods and services internationally and international financial flows.” It’s had a massive effect on the amount of regulations and standards that accountants and businesses now must apply by. Globalization has also had an effect on the very concept of accounting. Globalization has brought about an increase in competition and timeliness that warrants for faster information gathering. This means that management accountants no longer just play the role of information provider but also the role of resource manager through costing analysis and using that information in the decision-making process. “As a strategist, the management accountant is critically involved intaking and negotiating appropriate strategic moves and helping managers determine their most important customers, substitute products in the market, critical capability, adequacy of cash to fund to a strategy” (Horngren et al, 2009). In a bid to strengthen their strategic role management accountants
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