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Chapter from: "Management Accounting in Support of Strategy: How Management Accounting Can Aid the Strategic Management Process"
Published by: Business Expert Press
Originally published in: 2018

Abstract

This chapter is excerpted from 'Management Accounting in Support of Strategy: How Management Accounting Can Aid the Strategic Management Process'. During the 1980s and 1990s management accounting was criticized for being too operationally focused. The term strategic management accounting, as distinct from conventional management accounting, has been promoted as a means of addressing this criticism. There has, however, been considerable debate about whether strategic management accounting actually exists, and, if it does, what accounting techniques can be determined as strategic. This book takes a different approach in that it does not seek to categorize management accounting techniques, but takes the stance that management accounting is about providing information for managers to manage the business. The book explores how management accounting can support the strategic management process of analysis, formulation, implementation, evaluation, monitoring, and control. The reader will gain an understanding of the strategic management framework, strategic models and tools, and how management accounting can support the strategic management process. It will be beneficial for undergraduate and postgraduate students studying strategy or management accounting. The book will also enable the practicing accountants to understand how they can make a significant contribution to the success of their organization by demonstrating how management accounting can be used in support of strategy.

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Abstract

This chapter is excerpted from 'Management Accounting in Support of Strategy: How Management Accounting Can Aid the Strategic Management Process'. During the 1980s and 1990s management accounting was criticized for being too operationally focused. The term strategic management accounting, as distinct from conventional management accounting, has been promoted as a means of addressing this criticism. There has, however, been considerable debate about whether strategic management accounting actually exists, and, if it does, what accounting techniques can be determined as strategic. This book takes a different approach in that it does not seek to categorize management accounting techniques, but takes the stance that management accounting is about providing information for managers to manage the business. The book explores how management accounting can support the strategic management process of analysis, formulation, implementation, evaluation, monitoring, and control. The reader will gain an understanding of the strategic management framework, strategic models and tools, and how management accounting can support the strategic management process. It will be beneficial for undergraduate and postgraduate students studying strategy or management accounting. The book will also enable the practicing accountants to understand how they can make a significant contribution to the success of their organization by demonstrating how management accounting can be used in support of strategy.

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