Reference no: EM132955665

Strategic Management Accounting is a new form of management accounting that focus on information relating to external business situations, non-financial information or other internal information relating to various business decisions. With new challenges in business environment such as the global competition and vital needs for customer focus, managers are now looking for new approach in business that is Strategic Management Accounting.

The new Strategic Management Accounting is concerned with providing "management accounting in the context of business strategies being planned and implemented by an organisation". With new challenges in business environment such as the global competition and vital needs for customer focus, managers are looking for new technique that is Strategic Management Accounting, in order to gain competitive advantages in business.

Required:

Problem 1: Explain about the definition and the three areas of Strategic Management Accounting that makes it different from conventional management accounting.