Strategic Management Accounting Revisited: Building on Insights from the Business Model Field

The paper identifies and discusses insights from the business model field on the creation and delivery of value to customers that provide new thinking in the strategic management accounting field. The customer emphases exhibited in parts of the extant strategic management accounting literature, are highlighted and amplified employing insights from the business model literature, including those relating to value propositions, customer value creation and delivery, and meeting customers’ value expectations. The paper demonstrates that in addition to providing valuable insights for accounting to management, an extended strategic management accounting concept enables accounting and reporting to customers, now identified as major stakeholders, in the context of Integrated Reporting. Through its customer resonances, the paper affirms strategic management accounting’s practical utility for organisations seeking a strong position in highly competitive marketplaces, via the addition of a focus on accounting to customers. The paper’s use of insights from the business model literature further reinforces the view that strategic management accounting potentially constitutes a pivotal development within both managerial and financial accounting and reporting.