Ans 1)

In the past, the

usual approach to management accounting has been to regard decision makersas inward looking, w
here only internal comparisons have been thought (clearly connected or
related). However, now/recently, company managers are being thought of
as outward looking, where they must form a (success plan(s)/way(s) of reaching
goals) for their business that hasregard to what competitors are (accomplishing or gaining with
effort). Because of this, managersmust think
about/believe competitive forces such as the threat of new (people to enter or begin
something), substitute products or services, competition within the industry and the relative(related
to arriving at an agreement) strength of suppliers and customers.

Therefore, the term (related to a plan to reach a

goal) management accounting applies to theidentification, measurement and communication of cost
data in all these situations where theorganization is being judged against the performance of compet
itors.
Ans 2)
Management accounting ways have developed in a very type of ways that reckoning on the
judgements or choices needed. this is often typically represented in terms of a ‘contingency
theory’ of management accounting.
The management accounting approach is conditioned by or contingent upon the case.
For example, in some components of the planet, producing trade is dominated by the service
sector. In different components of the planet, the agricultural sector remains dominating.
All these variations cause totally different judgements , and thus totally different approaches
to distinguishing, measurement data.