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ROLE OF MANAGERIAL ACCOUNTANTS IN STRATEGIC MANAGEMENT & BUDGETING Student Name: BAOL 731: Advanced Managerial Accounting Professor Dr. Thomas Seiler Date: INTRODUCTION AND PURPOSE • Managerial accountants are professionals employed by a company to record financial information about a company. The collected information is used by the company managerial team during decision making. • The two major reasons that are causing managerial accountants duties to change are; hypercompetition and business globalization. • Future duties of managerial accountants include: managing and controlling cost, combining financial and non-financial data to find new leads while still maximizing profit and minimizing waste. PROBLEM STATEMENT • The problem statement gives a short description of the challenges as per now with relation to how the project/ research seeks to solve these challenges. • Businesses are growing in size and complexity and every day, the challenges faced are different from the ones faced a decade or two ago. • The change in business complexity and operations, has resulted in several change in roles for managerial accountants. RESEARCH QUESTIONS This study is focused to find the role of managerial accountants in strategic planning and budgeting. The three questions below are our major focus 1. What is strategic planning and budgeting? 2. What is the role of the managerial accountant in the strategic planning and budgeting process? 3. Can the role of mana ...
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