Analysis of Trends in Management Accounting: Data Analytics

This report analyzes current trends in management accounting, focusing on the application of data analytics and big data. The author reviews a video discussing the use of these tools in modern accounting practices, emphasizing their role in analyzing business costs, generating reports, and aiding managerial decision-making. The report highlights the importance of data analytics skills for management accountants and uses the example of Dell to illustrate how companies leverage business analytics to gather insights on customer satisfaction, competitive environments, and corporate social activities. This data-driven approach significantly impacts business performance and decision-making processes, as demonstrated by Dell's practices and the references to external resources.

Running head: TRENDS IN MANAGEMENT ACCOUNTING
Trends in Management Accounting
Name of the Student
Name of the University
Author’s Note

1TRENDS IN MANAGEMENT ACCOUNTING
Discussion
Hello Class,
I have reviewed the video of Mr Gary Cokins and he has discussed about some present trends
that can be seen in the management accounting practices at present (Cokins, 2016). In have
selected the last trend that is the use of data analytics and big data into management
accounting.
In this video, Mr Gary Cokins has mentioned the trend of using data analytics and bog data
into management accounting. Management accounting is considered as the process to analyze
business costs and operations for developing reports and records that help the managers in the
decision making process. Data analytics in management accounting assists the managers in
acquiring valuable insight within the accounting operations that helps in better decision
making process. The use of big data analysts helps the management accountants to analyze
large amount of accounting and financial data of the companies so that valuable insight can
be obtained on the overall organizational performance. However, the management
accountants need to be aware of different aspects of data analytics so that they can explain as
well as interpret them for their needs. Therefore, knowledge of business analytics needs to be
considered as major skill for the management accountants.
My real world example is based “Dell” as the company is involved in using the tools of
business analytics for gaining required data on the aspects like customer satisfaction and
loyalty, competitive environment, corporate social activity related activities and others. Dell
also uses business analytics for capturing big data from surveys. As per the leadership team
of the company, analysis of these intangible data through business analytics create a strong
impact in the business performance and decision-making process of the company (cgma.org,
2020).

2TRENDS IN MANAGEMENT ACCOUNTING

3TRENDS IN MANAGEMENT ACCOUNTING
References
Cgma.org. (2020). BUSINESS ANALYTICS AND DECISION MAKING. Retrieved 13
February 2020, from
https://www.cgma.org/Resources/DownloadableDocuments/business-analytics-
briefing.pdf
Cokins, G. (2016). The top seven trends in management accounting. Edpacs, 53(4), 1-7.