ABSTRACT
The genesis of the managerial accountant's compass lies in the distinction between processes and states. The compass points are surrounded by the outer perimeter to give the managerial accountant a context for the role and responsibilities. The four contextual factors move from the global to the personal. The four factors are geographical factors, industry characteristics, organization characteristics, and trends and particular events. The managerial accountant together with the organization's non-accounting managers contributes to executing strategy. Execution requires judgment and attention as customer and shareholder value can be both created and destroyed. Organization was examined from four perspectives: performance, stage in life cycle, execution of strategy and financial position. Trends and particular events often impact the vision, mission, brand, and competitive position of the organization as well as the credibility of its management. Particular events emphasize unusual, unplanned incidents or episodes that have an influence beyond their immediate triggering circumstances.
