The changing role of Management Accountants at Tesco plc Essay

The changing role of Management Accountants at Tesco plc - Essay Example In conclusion, the report will highlight on challenges that are likely to undermine successful implementation of the business-partnering model in Tesco According to a report by (CIMA, 2009), leading companies are increasingly transforming the traditional roles of financial accountants to match current global trends in the market. There are emergent debates and concerns over the traditional roles of finance professionals and their significance in the current dynamic market. Leading companies are slowly integrating decision-making elements and management efficiency within the domains of finance accounting roles (Gabriels, 2002). This present report is aimed at examining the changing roles of the management accountant in the 21st century and further evaluating how management accounting business partners could better support decision making within the firm. Therefore, the report will highlight on the changing roles of management accountants in the 21st century. Similarly, the discussions will comprehensively evaluate how better decision making could be achieved by management accountants. Finally, the report will conclude with the exami nation of the challenges of implementing the business partnering model in Tesco. (Burns and Baldvinsdottir, 2007) defines management accountant roles as entailing analysis of the information relating to costs and operations of an organization in order to advise managers on how to make profits and achieve savings goals. Therefore, unlike other accountants, management accountants are expected to seamless integrate management, accounting and financial skills in order to provide advice to the top managers of an organization effectively. (Accenture, 2011) hence noted that management accountants performed the following tasks, study the business environment and hence advice on the financial implications of key projects. Also to advice and explain financial consequences of managerial decisions, develop business