Assignment 2Requirements:“In a globally competitive organisation, everyone understands that long-term profitability is achieved by improving customer satisfaction, not by trying to sell the largest possible quantities of what the accounting system says are the highest margin products. They understand both the quality imperatives of TQM and the operational imperatives of JIT. Information about customer satisfaction and about variation in processes can move companies continuously closer to achieving the imperatives of competitive excellence. Defining that information and those imperatives is the task that awaits us.How far has management accounting changed to face these challenges?”(Johnson, 1992:xi as cited in Wickramasinghe & Alawattage, 2007:239)(100%)

Address the question posed in the quotation above. You should provide a comprehensive critical analysis of how academics perceive the function of management accounting to have adapted to address the challenges faced by our changing global business environment.In undertaking a ‘comprehensive critical analysis’, you are required to present the following:• a balanced discussion – giving opposing and contrasting academic opinions• specific identification and analysis of the different approaches to management accounting that have recently been utilised in order to address the remit defined above• careful consideration of how effective these approaches have or have not been, supported by appropriate sourcesIt is expected that your response to this part of the assignment brief will be undertaken as follows:• as an individual piece of work, solely prepared by yourself• adoption of a report style submission, clearly identifying headings and subheadings, thereby leading the reader through the flow of your answerYour answer will include considerable evidence of wider reading and research. I would expect you to have read some 20-30 sources – this is purely an indication. You should integrate many academic citations within your report to support the themes of your discussions. In order to do this, you must utilise the Harvard style of referencing, you are likely to use both quotations and in text citations, but please take care to ensure that you correctly and clearly identify when you are integrating a quotation – using both speech / quotation marks (“...“) and also appropriate citations, citing the author surname(s), publication year and where appropriate the page number.The style of your answer to this task should adhere to the following:• a report style, incorporating headings and sub headings• section numbering• page numbers• use of the Harvard style of referencing• a maximum of 2,000 words (there is no scope to go beyond this word limit)