Section outline

    • Topic One: Introduction to Strategic management accounting Lesson

      a)     Definition and scope of strategic management accounting (SMA)

      b)     Differences between traditional and strategic management accounting

      c)     The strategic management accounting processes   

      d)     The role of management accountants in strategic management   

      e)     The key challenges facing management accountants   

      Challenges  

      Causes of change in the business environment 

      f)       f) Tools for creating and managing value

      ·        Target costing and Kaizen costing

      ·        Life-cycle costing

      ·        Throughput accounting

      ·        Activity-Based Costing (ABC)

      ·        Environmental Management

      Accounting (EMA)

      g)     Value Analysis

      • Shareholder value

      • Customer Value

      • Stakeholder value

      • Which viewpoint should be taken when determining ‘value’?

      a)     Analytical techniques available to management accountants

      • Value analysis

      • Strengths, weaknesses, opportunities and threats

      • Internal analysis

      • External analysis

      • Porter’s five forces model