This paper studies the recent development of management accounting literature and practice from two perspectives; strategic management accounting and changing role of the management accountants by employing extensive conceptual analysis and a related single case study in a way that theoretical and empirical findings are discussed issue by issue. The research questions of the study are: 1) in which way the strategies, global competition, technological changes, organization structures, corporate cultures and emerging managerial philosophies challenge the management accounting and 2) what are the development disciplines, potentials, problems and limitations of strategic management accounting in general and in the case site. 3) What is the role of management accounting function in the management processes of the target company and is this role changing? 4) What are management accountant's most important activities, responsibilities and what kind of skills and knowledge a good management accountant should have in modern business environment?

Correspondence Address: Marko Järvenpää, Turku School of Economics and Business Administration (Pori), Pori School of Technology and Economics, Science Park 3, P.O. Box 30, FIN-28601 Pori, Finland, E-Mail mjjpori.tut.fi, Tel 358 2 6272753, Fax 358 2 6272828