The changing role of Management Accountants at Tesco plc Essay

The changing role of Management Accountants at Tesco plc - Essay Example In conclusion, the report will highlight on challenges that are likely to undermine successful implementation of the business-partnering model in Tesco According to a report by (CIMA, 2009), leading companies are increasingly transforming the traditional roles of financial accountants to match current global trends in the market. There are emergent debates and concerns over the traditional roles of finance professionals and their significance in the current dynamic market. Leading companies are slowly integrating decision-making elements and management efficiency within the domains of finance accounting roles (Gabriels, 2002). This present report is aimed at examining the changing roles of the management accountant in the 21st century and further evaluating how management accounting business partners could better support decision making within the firm. Therefore, the report will highlight on the changing roles of management accountants in the 21st century. Similarly, the discussions will comprehensively evaluate how better decision making could be achieved by management accountants. Finally, the report will conclude with the exami nation of the challenges of implementing the business partnering model in Tesco. (Burns and Baldvinsdottir, 2007) defines management accountant roles as entailing analysis of the information relating to costs and operations of an organization in order to advise managers on how to make profits and achieve savings goals. Therefore, unlike other accountants, management accountants are expected to seamless integrate management, accounting and financial skills in order to provide advice to the top managers of an organization effectively. (Accenture, 2011) hence noted that management accountants performed the following tasks, study the business environment and hence advice on the financial implications of key projects. Also to advice and explain financial consequences of managerial decisions, develop business

Assignment 5 Example | Topics and Well Written Essays - 500 words

5 - Assignment Example stomers with purchasing convenience and seamless access to the company’s portfolio is the main evidence of customer intimacy and support that FedEx offers to its customers. In addition, each of the FedEx\u2019s business segments has independent operations and strategies that enhance anticipation and customer support. In addition, FedEx has a supportive website (fedex.com) that demonstrates its product leadership. 2. What are FedEx’s four main business segments? Provide two examples of traceable fixed costs for each of FedEx’s four business segments. Provide two examples of common costs that are not traceable to the four business segments. FedEx Express, FedEx Ground, FedEx Freight and FedEx Kinko\u2019s are the main business segments of the company (FedEx Form 10-K 2005, p. 3). On the other hand, the cost of maintaining the Memphis international airport facility and purchase of 557 airliners are examples of traceable cost for FedEx Express. Traceable costs for FedEx Ground includes cost of maintaining information and data centers located in Pittsburgh (FedEx Form 10-K 2005, p. 25) in addition the business segment caters for Daniel Sullivan’s (CEO) salary. Finally, traceable costs for FedEx Freight’s include cost of owning and maintaining 39,500 vehicles and trailers and their customs-critical headquarters at Ohio. A common example of not traceable to the four business segments would be PGA golf tournaments sponsored by the company. 6. Assume that the senior managers of FedEx Express and FedEx Ground each have an investment opportunity that would require $20 million of additional operating assets and that would increase operating income by $4 million. If FedEx evaluates all of its senior managers using ROI, would the managers of both segments pursue the investment opportunity? If FedEx evaluates all of its senior managers using residual income, would the managers of both segments pursue the investment opportunity? 4,000,000) = 1. From the previous