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Like manyotherfields,Management Accountingis being disrupted by a whole host of new technologies, including big data, predictive analytics, artificial intelligence (AI), blockchain, cognitive computing, machine learning, and robotics process automation (RPA). A recent Institute of Management Accountants (IMA) survey1of 161 management accounting professionals findsthat 42 percent are worried that technology will eliminate their jobs, with the greatest concern coming from those overseeing general accounting functions such asbilling and budgeting. While these will result in the elimination of many management accounting positions, they also have the potential to create new ones. The key to the later will be the continued evolution of the management accountant’s rolefrom its traditional focus on reporting and stewardship to becoming a more complete business partner who enables an organization to enhance performance. To exploit the digital transformation and successful transition tovalue creator’s role, management accountants will need to enhance their data analytics skills, develop their strategic management skills, and focus on innovation.Required:Working in groups of 4-5 students, select one large global companythat operates in a highly competitive and changing business environment. Assume you are the senior management accountant of this company. Prepare a report to the CEO that addresses the following questions:a.Discuss challenges the new disruptive technologies have posed in the areas of strategic management accounting and the role of management accountants.b.Explores ways to manage, analyze and extract values from the changing environments. In your answer, explain clearly how your suggestions (e.g., tools and techniques) can help managing costs and improving the performance of acompany. (1300 words: 40marks)1Source: c.In an appendix to the report , provide a group reflective statement that summarizesindividual group member’s contribution, key challenges faced by individuals and the group in preparing the report, and the key learning experiencesof individuals
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