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Future of Strategic Management Accounting

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But there have been some criticisms also regarding changes in the implementation of management accounting. Te main aim of the research paper is to critically evaluate the controversies and arrive at a distinct conclusion regarding the best practice. Mnagement accounting systems in the past years, bfore the innovations in information technology, hve seen many problems in its applications in organisations. Bt with the development in technology and use of various management information systems, te costs that were incurred for accounting in general got reduced (Caplan, 2010). Te expansion in product lines of companies have helped to improve the performance of management accounting.

I became difficult to obtain accurate cost information of individual products and then a management accounting tool was developed to solve this problem. Tis was an innovation of management accounting (Caplan, 2010). De to globalisation, eonomies have faced the need for a more advanced accounting system which is more accurate than the normal system. Mnagement accounting makes use of different accounting tools like transfer pricing that plays conventional role in the global economy through trade negotiation many more.

Hnce the scope of management accounting was quite good during the time when globalisation actually came into being (Caplan, 2010). Mnagement accounting has been widely used in the service companies like financial institutions, hspitality and transportation. Tere are even techniques in management accounting to help in determining cost of servicing a customer and also improving the time taken to service a customer (Caplan, 2010). Te business environment has changed in the present world and it has become extensively important for the managers to change according to the Mnagers need to inherently participate in the strategic decision taking activities to remain competitive it its external environment.

Tis part of the research paper deals with the study of the advantages of adoption of strategic management accounting (SMA) techniques over the other methods of accounting techniques. SA has gifted managers with various models and frameworks with the help of which they can effectively implement their technical knowledge skills and take managerial decisions effectively. Afew of the most useful findings of SMA are the balance scorecard, tat helps managers implement and accordingly...

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