Part A (15 marks) (1500 words) Management Accountants are seen as the "value-creators" amongst the...
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Accounting
Part A (15 marks) (1500 words)
Management Accountants are seen as the "value-creators" amongst the accountants. They are much more interested in forward looking and taking decisions that will affect the future of the organization, than in the historical recording and compliance (scorekeeping) aspects of the profession (Institute of Certified Management Accountants, 2017).
a) Discuss the pros and cons of the above statement. (4 marks)
b) Explain the relevance of the value chain concept to management accountants today. (3 marks)
c) Assume you are the management accountant of BHP Group, a leading mining company in Australia. Provide examples of how you can create value for the company to support the managers make:
i) strategic decisions (2 examples); and
ii) operational decisions (2 examples). (8 marks)
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