Study guide: Version 16a

Strategic management accounting is a key component of the overall skills base of today’s professional accountant

This subject examines the strategic management accountant's role in dynamic organisations operating in the global business environment. In this role, the professional accountant engages with the organisation's management team and contributes to strategy development and implementation with the aim of creating customer and shareholder value, and a strong competitive position for the organisation. The subject highlights the management accounting tools and techniques of value chain analysis and project management which have become increasingly important in contemporary operational environments.

The subject includes discussions on the professional accountant's responsibilities and judgement as introduced in the Ethics and Governance subject. Also discussed are investment evaluation and strategic business analysis in the context of assessing and responding to risk, as covered in the Financial Risk Management and Advanced Audit and Assurance subjects. You are introduced to strategic management concepts which are expanded on in the Global Strategy and Leadership subject.

Exam structure

The Strategic Management Accounting exam is comprised of a combination of multiple-choice and extended-response questions.

General objectives

On completion of this subject, you should be able to:

  • explain the role of strategic management accounting in supporting strategy development and the day-to-day operations of an organisation
  • explain and apply the strategic management process and organisational and industry value analysis to understanding value drivers, cost drivers and the reconfiguring value chains
  • explain the role of performance measurement and control systems in value creation, strategy implementation and monitoring performance to improve strategies
  • apply strategic management accounting tools and techniques to improve the contribution and sustainability of value-creating activities
  • discuss the role of project selection, planning, monitoring and completion in strategy implementation.

Subject content


Module Recommended proportion of study time (%) Weighting (%) 
1. Introduction to strategic management accounting 10 10
2. Creating organisational value 22 25
3. Performance measurement 18 20
4. Techniques for creating and managing value 30 30
5. Project management 15 15
6. Case study 5 *

* Refer to the module descriptions – Case study.

For further information, please see the subject outline (PDF).