Management Accounting Innovation has been one of the Core Themes Driving Modern Organizations

Management Accounting Innovation has been one of the Core Themes Driving Modern Organizations

Introduction

Management accounting is the efficient preparation of management accounts within the firm. It ideally involves provision of accurate and timely accounting information by the accounting agents and other decision makers within the firm. Over the last decades, firms have significantly evolved from their traditional accounting practices to adopt more innovative management accounting practices. The dynamic evolution in the accounting practices has however attracted a lot of controversies in the recent periods. The controversies are mainly triggered by the expanded scope of management accounting practices. There is a group of scholars who argue that management accountants have in the past resisted change, until the introduction of ABC and balanced scorecard techniques. However, the dynamic transformation of organization seeking to embrace an international image has made innovations inevitable to firms. The transformation have also seen a real change from the traditional practice which was aimed at supplying the firm’s cost information into a more creative interpretation of data, consequently used in the strategic management process. This paper will basically aim at analyzing the statement, “management accounting innovation has been one of the core themes driving modern organizations.”

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