Tham khảo tài liệu 'pearson education management accounting for decision makers_10', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 318 CHAPTER 9 STRATEGIC MANAGEMENT ACCOUNTING LEARNING OUTCOMES When you have completed this chapter you should be able to Discuss the nature and role of strategic management accounting. Explain how management accounting information can help a business gain a better understanding of its competitors and customers. Describe the techniques available for gaining competitive advantage through cost leadership. Explain how the balanced scorecard can help monitor and measure progress towards the achievement of strategic objectives. Discuss the role of shareholder value analysis and economic value added in strategic decision making. What is strategic management accounting Strategic management accounting is concerned with providing information that will support the strategic plans and decisions made within a business. We saw in Chapter 1 that strategic planning involves five steps 1 Establishing the mission and objectives of a business. 2 Undertaking a position analysis such as a SWOT strengths weaknesses opportunities and threats analysis to establish how the business is placed in relation to its environment. 3 Identifying and assessing the possible strategic options that will lead the business from its present position identified in Step 2 to the achievement of its objectives identified in Step 1 . 4 Selecting the most appropriate strategic options from those identified in Step 3 and formulating long- and short-term plans to pursue them. 5 Reviewing business performance and exercising control by assessing actual performance against planned performance identified in Step 4 . To some extent conventional management accounting already supports this strategic process. We have seen in Chapter 7 for example how budgets can be used to compare actual performance with earlier planned performance. We have also seen in Chapter 8 the role of investment appraisal techniques in evaluating long-term plans. Nevertheless there is scope for further development. It can be argued that if .
