accounting in the digital age
Management accounting allows for economic transparency of creational processes in manufacturing, trade, crafts and in the service industries. The ultimate objective is to enable planning of and control over the economic success of an enterprise through the availability of current and meaningful information at any point in time.
The fourth industrial revolution poses new challenges to established controlling approaches, with the initiation of innovative data-driven business models facilitated by intelligent systems and the progressing digital transformation. In addition, the interpretation of corporate success is increasingly multi-dimensional, calling for an integrated optimization of formerly unaligned objectives, such as concerning energy consumption, utilisation, resource consumption, sustainability, costs and results.
In this context, management accounting of the future faces the challenges to evaluate the profitability of new business models, to calculate the economic impact of alternative business scenarios in real-time and to offer tools for integrated, multi-dimensional concepts of corporate success. In this process, the internal accountant, whose role has oftentimes been reduced to that of a mere data collector and administrator, regrows to be a proactive management advisor and corporate navigator.
PCC is fully committed to this mission.