Role of Management accounting has been changing since its inception. It has been evolved in its current roles through a long journey proving its worth in the managerial decisions. It is no more confined only with its traditional budgetary role. It is now providing much more important decision inputs in setting business strategies particularly in the consistently changing business environments. Required: You are required to explain the following in your report:
1. Given an analysis on the traditional and contemporary roles of the Managerial Accounting.
2. Explain the roles of management accountants in an organization.
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3. Examine the use of contemporary management accounting tools to help business in taking strategic decisions particularly in the changing environment.