We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Contemporary Management Accounting System - Essay Example

Comments (1) Cite this document
Anthony G. Hopwood (1976), in his book ‘Accounting and Human Behaviour” had stated that, “Accountants and other members of the management team searching for means of understanding and improving standard setting and budgeting; must therefore see the process in its entirety and respond to it as a complex human and technical problem rather than one standing in technical isolation.” …
Download full paper
Contemporary Management Accounting System
Read TextPreview

Extract of sample
Contemporary Management Accounting System

Download file to see previous pages... Hopwood (1976), in his book ‘Accounting and Human Behaviour” had stated that, “Accountants and other members of the management team searching for means of understanding and improving standard setting and budgeting; must therefore see the process in its entirety and respond to it as a complex human and technical problem rather than one standing in technical isolation.” This implies that there has been a paradigm shift in the principles and practices of management accounting. Management accounting no longer comprises of only the technical aspect of accounting, but also the multifaceted management aspect of the business on the whole. The area of management accounting has undergone considerable changes during the past years. One of the major factors that had influenced the modifications in the management accounting practices have been the dynamically competitive and swiftly altering organizational environment that is prevalent today. Additionally, the present day business settings comprise of ongoing reformation in the working atmosphere, as well as continuing progress in the financial information arrangements. With the advent of new information system practices and the development of the Enterprise Resource Planning (ERP) systems, there has been a vast change in the management as well as financial accounting practices of modern day organizations. ...
Hence, the role of management accounting professional were considerably influenced by the inclusion of various information systems as well as by the use of superior and efficient reporting tools (Roussoulis, 2007). Consequently, it can be stated that owing to these diverse changes in organizations leading to the emergence of modern contemporary organizations, the responsibilities of management accountants has been varying throughout the previous couple of decades. The modern accounting literature has constantly emphasised that there is a strong requirement for management accountants to diverge and deviate from the conventional bookkeeping role, to a more active role, that offers dynamic support to the organization’s management and comprises of rising involvement in business decision-making (Kaplan, 1995; Granlund & Lukka, 1997; Granlund & Lukka, 1998; Jarvenpaa, 2001). Furthermore, it has also been mentioned that the management accountants in the contemporary organizations are endowed with more responsibilities other than the routine categories of accounting tasks (Roussoulis, 2007). Under the prevalent business conditions, the management accountants of contemporary organizations are supposed to act like business partners for the management of the organization in addition to being change agents for the organization (Anthony & Govindarajan, 2007). The Concept of Management Accounting Management Accounting is one of the fundamental segments of the core management role of an organization. The management accounting practices comprises of the recognition, assessment, accretion, scrutiny, research, interpretation and correspondence of information that are required by the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Contemporary Management Accounting System Essay”, n.d.)
Retrieved de https://studentshare.org/finance-accounting/1392761-contemporary-management-accounting-system
(Contemporary Management Accounting System Essay)
“Contemporary Management Accounting System Essay”, n.d. https://studentshare.org/finance-accounting/1392761-contemporary-management-accounting-system.
  • Cited: 0 times
Comments (1)
Click to create a comment
rmcglynn added comment 1 month ago
Student rated this paper as
The topic of "Contemporary Management Accounting System" was hard to find. I spent countless hours to find it. Here at StudentShare, I got the finest example. Many thanks!
Finance and accounting: contemporary auditing
It also involves auditor’s responsibility towards the client. An engagement letter describes the lawful relationship or an engagement between an ‘audit firm’ along with its clients. The engagement letter involves within it the terms and the conditions of the engagement, which mainly addresses the opportunity of the particular engagement and the details of the compensation complying with the firm.
15 Pages(3750 words)Essay
Management accounting system
For efficient function of the system the management will be required to gather variety of information both financial and non-financial. The sources of this information could be from both internal (within the company) and external sources (external environment for comparison purposes).
3 Pages(750 words)Essay
Management accounting and financial accounting
The expert accounting conception and scientific accounting dexterity regarding measurement of performance, analysis, auditing and final reporting are as well pertinent to the supervision of healthy and sustainable ecological performance. With the increased international community's recognition of the ecological concerns, so has there been a simultaneously increased demand on accountants to provide comprehensive ecological costs and information on performance.
12 Pages(3000 words)Essay
Contemporary Issues in Accounting
Financial reporting and its disclosure is now related with the environmental performances. "Pressures for greater transparency and disclosure about environmental and social practices aimed at long-term ecological, social, and business sustainability have been growing in the wake of the growth of power of multinational corporations, the array of scandals that have plagued business institutions since the collapse of Enron and Arthur Anderson, and increasing anti-corporate activism by NGOs, labor unions, and others.
3 Pages(750 words)Essay
Strategic Management Accounting System
The project report then looks at the aims and objectives of establishing a management accounting system and the characteristics of information flow at the strategic level. It also analyse the effectiveness of SMA system in the provision of information to assist the senior management team in the achievement of the corporate objectives at Highline.
8 Pages(2000 words)Essay
Financial & Management Accounting
This aspect of accounting concerns itself with learning about the effect an organisation has on society and about its relationships with an entire range of stakeholders to whom it is accountable. These would include all those groups who affect and/or are affected by the organisation and its activities.
19 Pages(4750 words)Essay
Management accounting - contemporary approach
Therefore, this paper provides an insightful study of recent innovations in management accounting techniques and various controls employed on the part of the organisation to regulate managerial performance. The main theme underlying the development of this paper encompasses the developments in management accounting systems and the effectiveness of corresponding measures in regulating managerial performance.
18 Pages(4500 words)Essay
Management Accounting Essay
Management accounting provides both, financial and non-financial information, to the management. It has a much broader perspective and is not just concerned with providing numerical data to the management. Unlike financial accounting, management accounting recognises data not only from past records but also from present tendencies and future prospects.
5 Pages(1250 words)Essay
Further evaluation on the different techniques of strategic accounting has been discussed. Finally, concentration has been made on how the strategic accounting system overcomes the drawbacks of the traditional accounting system. The
10 Pages(2500 words)Essay
Management Accounting
Many industrial consultants in the United States and abroad have drawn from his publication and varying disciplines globally. Among them are organizational theorists, business administration specialists, economists, sociologists and
6 Pages(1500 words)Essay
Let us find you another Essay on topic Contemporary Management Accounting System for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us