Is it time to start thinking about strategic accounting?

Strategic accounting is a new, virtually unexplored area of strategic management. Few firms have developed internal systems that can provide the strategic management information needed to make informed strategic decisions. This article provides a framework for strategic accounting built around the concept of environmental turbulence and differing information needs. For various levels of environmental turbulence, managers have different information needs in terms of the scope, structure and content of information. The framework detailed in this article defines the strategic information needs, suggests specific systems (tools) for providing the needed strategic information, and provides industry examples of firms operating at five different levels of environmental turbulence.