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I am really sorry if this questions sounds to basic but i have just posted to clear my understandings about the mentioned title. i.e is strategic management accounting helps business plan and develop strategies for the achievement of its goals by building suitable performance measures that have a forward looking, external outlook, includes non quantifiable data that may be internally generated. or am i missing something in my particular representation.
That’s fine. Every time you see the word ‘strategy’ think ‘long term’. SMA therefore concentrates on long term goals and measures that will help those to be achieved.. Think if the approach taken by the balanced score card.
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Is it in order to suggest that p5 requires strategic thinking.
F5 tended to deal with short term effects: variances etc and how to calculate them. Rather like ‘doing things right’, but sticking to the plan
At P5 you are at a higher management level and are thinking more long term about the future of the business. Rather like ‘doing the right things’, so that you might want to change the plan.
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