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Management accounting - Essay Example

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Management Accounting [University] [Instructor Name] MANAGEMENT ACCOUNTING Administrative Coordination – Chandler Chandler (1977) suggested that Management Information System is one of the results of the scope and scale that business is conducted…
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Management accounting
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Download file to see previous pages Methods such as standard costing and budgetary control are associated with developments in management accounting - this is thought to have been as a result of the traditional rise of large and multi-divisional business activities. This observation is in line with what Chandler (1977) set out, when he maintained that modern management originated from the economic history. The economic history took the position that was previously taken by market mechanisms by introducing an institution with new features, a modern business enterprise or the managed creature. Essentially, by planning and coordinating of the activities in an organization across space and time, as well as internally capturing efficiency benefits and cost, the managed entity displaced, forestalled, and essentially redesigned market relationships (Coase, 1937). Consequently, management brought about oligopoly since it was possible to create large-scale entities whereby managers manage other managers through the process of administrative coordination. The organizations that followed these structures were capable of running economically to the extent of redesigning and dominating their sectors, as well as their staff. In essence, the administrative coordination brought about a new source of power, which has eventually redesigned the limits of the organizational and economic scenes. In view of this, it is evident that Chandler contributed towards an explanation of the origin of the modern management by shedding light on how different forms of administrative coordination were, at the outset, developed (Hoskin and Macve, 1990). Chandler specified the Springfield Armory as the origin of the development of single-unit management, which was allegedly done in the perspective of introducing an interchangeable part manufacturer. In essence, this location could have been an unacceptable source of the management; however, the administrative coordination could not have originated from the reaction from technical inventions, but it must have originated from a distinct and disciplinary intervention. Ideally, in this case, the administrative coordination was put into practice through coordination, problem planning as well as control of staff and plant throughout the extended moment and space. In addition, another important contributor of the modern management, just as Chandler maintained, is George Whistler who was associated with the Western Railroad. Chandler (1977, p. 97-98) ascertained that Whistler was the first to embrace cautiously defined, modern, and an internal organizational structure, in 1841. This development was the first American business enterprise to function under a formally designed administrative structure, overseen by full-time and paid staff. After Whistler, the Pennsylvania (PRR) was the subsequent key railroad where severance of operating and financial functions was a remarkable development that led to the establishment of a form of organization described by Chandler (1977) as “decentralized line-and-staff division.” (p. 105). In addition, the unrelenting examination and production of comprehensive flows of information in both human and physical assets reduced operating cost and enhanced efficiency. According to Chandler (1977) the most momentous contributions to accounting was made by Pennsylvania ...Download file to see next pagesRead More
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