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Strategic Managerial Accounting – A Primer for the IT Professional by Gopal Saxena

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CHAPTER 1

Introduction to Strategic Managerial Accounting

Accountants are in the past, managers are in the present, and leaders are in the future.

—Paul Orfalea1

Case Study

This was the second quarter in a row that Smart Pro Inc. (SPI) was forced to issue a profit warning, this time indicating that its Q3 operating profit could fall 24 percent y/y (year on year). Within a week of the announcement, the market shaved off 6 percent from the stock value. The stock has been down 15 percent over the past six months. At the emergency board meeting convened just prior to the announcement, the board had taken the chief financial officer (CFO) to task for failing to stem the profitability decline. The CFO on the other hand reported that both the revenue ...

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