MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT 'The role of Management Essay

MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT 'The role of Management Accountants at Tesco Plc' - Essay Example Accordingly, the study findings revealed that management accountants are imperative as decision makers to modern organizations and play a crucial role to ensure adequate organizational sustainability in the long run. In the present state, management accountants form an important facet of any organization. When concerning at the business environment currently persistent in the global platform, management accountants play an important role of providing useful information to the decision makers of the organisation, and thereby, facilitate alignment in the financial planning and its overall business goals (Accenture, 2011). Globalization has also been a major reason for the changing role of management accountants in the present organizational context. Nowadays, management accountants have also been bestowed with the responsibilities for analysing, preparing, interpreting the financial data as well as delivering information about the current strategic position of the organization. Every business planning and decision taken within an organisation is today related with financial matters, wherein financial stability is perceived as a key requirement towards ensuring long-run sustainability of the entity (CIMA, 2009). Evidently enough, the role played by management accountants has become more complex as compared to their initial functions within the organisational management domain. This particular factor can be better understood with the help of practical illustrations, taking example of an organisation. With this particular motif, the study has considered Tesco Plc as the organisation, and hence, reference will be drawn to identify the role of management accountants in the current phenomenon. Management accountants are often considered as the oxygen of financial department and the overall organisation. It is in this context that with the changes observed in the organizational working patterns, the role