The Evolving Role of Management Accounting in Strategic Decision-Making: A Study of Contemporary Practices in Data-Driven Enterprises

This study aims to find out how the role of management accounting has grown in helping enterprises make key strategic decisions with the help of data. Initially focused only on managing costs and preparing financial statements, management accounting has changed a lot because of advances in technology, globalization and growing complexity in organizations. With the help of a detailed review of literature and analysis of information from external sources, the research shows that adopting new standards like Activity-Based Costing (ABC), Balanced Scorecard (BSC) and predictive analytics, management accountants can support strategic decision-making. According to the findings, management accountants are now important in shaping future business strategies which is made possible with artificial intelligence, up-to-the-minute dashboards and business intelligence systems. It is pointed out that accountants now need to be skilled in data literacy, team up with people from other departments and use strategic thinking. Still, not everything is without issues; people need new skills, some are afraid to adapt and technology in some cases is challenging to integrate. One should encourage professionals to invest in themselves, adopt important frameworks for strategy and form a work culture that values accounting as a strategic skill. It is concluded that for management accounting to stay meaningful, it should keep changing and be recognized as a key supporter of adaptability and steady performance.