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Investigating the impact of technological advancements on the job of a management accountant : identifying capabilities required for the future

Schut, L.G. (2023) Investigating the impact of technological advancements on the job of a management accountant : identifying capabilities required for the future.

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Abstract:Introduction: The role of management accountants (MA) is expected to undergo significant transformations due to the rapid advancement of technology. This study delves into understanding how technological advancements influence the roles, tasks, and competencies of MAs. The research sheds light on this crucial aspect in the field of control, contributing to the knowledge base that guides professionals and educators in adapting to the changing landscape. Goal: “Examine the future profile of a Management Accountant towards 2030, considering the influence of upcoming technological changes, and provide insights into the evolving role, underlying tasks, and required competencies for MAs within this context.” Methods: To comprehensively explore the changing role of MAs, this study employed a two-fold approach. Firstly, a Systematic Literature Review (SLR) was conducted, systematically analysing a wide range of academic articles, reports, and relevant literature to identify the current role of the MA and the changing technological environment. Secondly, focus group discussions were organized involving experienced MAs and stakeholders of MAs from diverse industries. These discussions aimed to gather qualitative insights, opinions, and real-world experiences to complement the findings of the SLR. Afterwards, two validation interviews were processed with professionals from the field. Results: The research suggests that MAs should develop a conceptual understanding of technology and organizational dynamics, collaborate with IT departments, and transition into more holistic leadership roles. The study highlights the importance of MAs understanding data models and systems, as well as collaborating with IT specialists to bridge the gap between business and technology. It also stresses the role of controllers in driving organizational change and proposes a framework that outlines the evolving MA profile, which includes the role of accountant, financial professional, business partner, changer, and leader, while the role of information technologist has disappeared. Conclusions: The research suggests implications for education and training, emphasizing the need for incorporating technology components and developing soft skills for managing change. Collaboration between MAs and IT professionals is crucial, with recommendations tailored to different types of companies. For large financial institutions, MAs should transition into holistic leadership roles, SMEs should focus on resource optimization and training, and FinTech startups should leverage MAs for shaping strategies. Consultancy firms should position MAs as strategic advisors in finance and tech. For RMFC, embracing tech-savvy MAs and promoting collaboration with IT is essential for success in the evolving financial landscape.
Item Type:Essay (Master)
Robert Muntel Financial Consultancy, Enschede, Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
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