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The Evolution of Management Accounting - Term Paper Example

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The paper intends to present a brief view of the changes brought by the evolution of management accounting research to modern industrial management. Furthermore, it also aims to examine the impact of these significant changes to the administration of modern business or modern industrial management. …
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The Evolution of Management Accounting
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Download file to see previous pages The first portion of this paper includes an introduction of the aim of the report which is to provide basic information of three areas of management accounting research that experts in the field have explored. These areas refer to Activity Based Costing (ABC), the Balanced Scorecard, and the Behavioral Aspects of Budgeting which have been further explained in the main findings section. ABC was considered relevant to the reflection of a firm's economics (Cokins, 2001, p.2). The Balanced Scorecard was referred to as a means to illustrate the "cause and effect relationship of strategic objectives" (Creelman & Makhijani, 2011). Next is the behavioral aspect of budgeting, which has been considered a relevant component to the study of organizational behavior. In conclusion, it has been claimed that the ABC, the balanced scorecard, and the behavioral aspects of budgeting are useful in today's modern business environment. As a recommendation, it has been proposed that broader and continuous research be conducted to allow the evolution of management accounting.
To provide an idea of the areas focused by researchers in the field of management accounting, it will tackle three relevant topics covered by management accounting research such as the ABC (Activity Based Costing), the Balanced Scorecard, and the Behavioral Aspects of Budgeting. These topics will then be explored in relation to modern industrial management or modern business. The present methods applied in management accounting are being rooted in those applied by people in the past. Understanding the distant origins of these techniques is necessary in order for one to appreciate the use of such methods in today's modern world.
The study of accounting has always been considered difficult and arduous. It is one challenging aspect of business that requires research for its continuous improvement (Argenti, 2002, p.172).  ...Download file to see next pagesRead More
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