How will globalisation shape management accounting?
Shaping and reacting to globalisation, and the subsequent growth of business and technology, are major opportunities. At the same time exposure to more detailed statutory reporting requirements, and an explosion of information around businesses and their environments, can make it difficult to see the wood for the trees. Look at retail. Many retailers now know everything there is to know about you – your spending habits, what you like to buy in your weekly shop, and how they can continue to pull you back through their doors or websites. Thorough analysis of data like this is necessary in all businesses, and management accountants are well qualified to handle this data. However, the sheer volume of it will continue to grow and it will be a real and vital challenge to take that data and make it useful, presenting it in a way that informs the board’s decisions. The bigger the company, the more multinational it is, the more challenging it is to manage. Local activities can be conducted far
