"Traditionally the role of management accountants has predominantly been viewed as ‘bean counters' by providing numerical information to decision-makers. However, over the past two decades, commentators and practitioners alike have reported that management accountants are now becoming active players in the business decision-making process."
Do you agree with the statement? Discuss the changing role of management accountants with reference to how it impacts on the current business environment.
Why is cost classification necessary? Explain your answer with reference to business decision making purposes and provide relevant examples.