Managerial Accounting In Today's Business Environment

As today’s business environment becomes increasingly competitive, business organizations are becoming more hostile and dynamic in identifying competitive strategies that will ensure profitable existence. Competition may be well-known to business innovations, development in technology and the changing demand of customers and now a day there is advanced business environment. Globalization is playing an important role in the advancement of the firms Managerial accounting now plays bigger roles in organizations. In today's business environment managerial accounting is not only take part as informational provider but also helps in decision making because they provide useful and very essential internal information to the top management, so, managerial

• Motivating managers and other employees to complete the company’ goal.

• Checking the performance of managers and all the employees

The roles of strategic managerial accounting vary from one organization to the next, their roles is depends on the size and of organization. Cultures, industry and type of organization is also different depends on the circumstances nowadays.

Management accountant also plays a role of Evaluator. Company assets are evaluated by him. He checks the company’s financial positions by making the comparison using company’s own past year data or the other company’s data.

Likewise Fraud avoidance and internal control systems within their organizations can also be controlled by managerial accounting, the managerial accountants report to the vice president of various operations, their reports cover extent patterns and reasons of fraud, an summary of risk management, fraud prevention, identifying fraud and responding to fraud can be all measured.

Good managerial accounting practices have a practical advantage: They keep your company in compliance with the law. Without good accounting you could disobey of laws, such as not paying the right amount of

Ethics is necessary part of managerial accounting, it is also an important part of today’s modern business world and companies may develop a code of ethics or conduct to set the expected ethical behavior for accountants. Managerial ethics ensures all financial information is reported to business owners, directors or managers. Accountants who not succeed to report negative information or use a company’s internal financial information for personal gain can create severe legal situations for businesses. The owner's of the modern business required reach and every information regarding the business operation for the decision making. Ethical behavior act as a lubricant that keeps the economy running and the ethics are not present within the organization the organization works ineffectively. If we cannot trust others to act ethically in their business dealing with us, we will be inclined to invest less and generally waste time and money in protecting ourselves from