Managerial accounting has changed in recent years because of:
A)a growing service economy in the United States.
B)the growing popularity of cross-functional teams.
C)an increase in global competition.
D)time-based competition.
E)All of these factors.

Question

Quizplus · Accepted Answer

All of these factors have contributed to the change in managerial accounting. The growing service economy has led to a shift in focus from the production of tangible goods to the provision of intangible services, requiring new accounting methods. Cross-functional teams involve people from different departments or functions working together on a project, affecting how accounting information is shared and used. Global competition has forced companies to identify and manage costs more effectively. Time-based competition emphasizes the importance of speed and efficiency, which requires real-time information and performance measurements.

Managerial Accounting Has Changed in Recent Years Because Of