Final answer:
Management accountants must indeed work effectively in cross-functional teams and act as business partners, sharing responsibilities and risks, as well as contributing to business decisions with their financial expertise.
Step-by-step explanation:
Management accountants must indeed work well in cross-functional teams and as a business partner. In their role, they share responsibility and risk with partners, collaborate on business decisions, and often bring a financial perspective to the team. Working with partners who have complementary skills is essential in effectively managing a business.
Being part of a cross-functional team, management accountants can contribute to various aspects of the business by providing financial insights that inform decision-making. They act as a bridge between the financial information and other departments, ensuring that financial data positively impacts the business strategy and operations.