Evolving changes of Management Accounting
Discuss about the Management Accounting for Product and Standard Costing.
The main form of the change management is seen with the various aspects of the transformation which is a uniform phenomenon. The literature review is related to the understanding of environmental factors which control the internal process among the organizations. In the previous concepts the accounting for the internal control did not included the concepts such as strategic management. Instead of this, it considered the techniques such as valuation of the inventory, product costing, standard costing and overhead allocation. The managerial accounting decisions are focused on capital budgeting and include make versus buy decisions. In the recent times, the management accounting research has been seen to be using a wide range of variety for of options contributing to the organization change strategy. The change management consideration as per the management accounting is further seen to be based on the motivational factors. This is evident with researches which have linked the management accounting with the factors such as Motivators, Catalyst and Facilitators. The motivators include the competitive market, organizational structure and product technology. The catalyst factors are depicted to be include other constraints like poor financial performance, loss of market share and organizational change. The facilitators are seen with the degree of autonomy, requirement for accounting and accounting staff resources (Wang and Brennan, 2014).
The interactions with the variables promote the factors which are classified with the information needs, changes in the technology and environment, willingness to change and including the external requirements. The use of the four categories of the management accounting is further seen to include the organizational and financial factors besides motivational factors (Wienclaw, 2015). The factors associated to the change in the management accounting is considered with the environment and technology like explaining the management accounting change and changes in the organizational factors. Some of the other factors to the change process is further seen to include the motivational factors which explains the changes in the strategy and structure (Schmidt & Lange, 2014).
The main changes in the management accounting is seen to be relied with the accounting information which is a result of the improved performance. The financial performance is identified with the outcome of the factors because of the management accounting change. There are several instances where the firms have experienced significant nature of the changes in the business environment with the advancement in the technology, new management strategies, augmented focus on the customer services and competitive environment (Davies, 2014).
Skills that are important for management accountants and how they have changed over the past 10 years
The factors associated to the strategic thinking is considered with partnering with the construction companies. For example, companies such as EVA has considered its main fixed assets with stores. The inclusion of this type of the asset base has considered to reduce the cost of building a good quality new store. In the changes over the past 10 years, the management accountant is not only considered with book keeper or provider of information. The management accountant is depicted to have thee relevant skills which are seen to be considered with the training and equipping them with the skills for becoming more significant with the decision maker, market analytic and strategic planner. The skills are seen to be important for the management accountant which allow them to use both the non-financial and financial indicators thereby using skills for good decision making and integrated with the operational and the strategic control factors. The skills of the management accountant are seen to be depicted with the analytical skills, verbal and written skills. The management accountants are seen to consider the skills which are needed to enhance the role as per the understanding the information needed by the management. These skills are conducive for the management accounting in addressing various types of the problems (Meunier-FitzHugh & Douglas, 2016).
The past 10 years there has been a significant nature of the changes in the management accounting which related to both internal and external factors. The development of the changes is further identified to be purely based on the environmental and societal demands. In addition to the, the rigorous changes are depicted to be ranging from regulations related to the witnessing of the professional standards. The various types of the other changes are seen to be based on the regulations to the professional standards. This phenomenon has been perceived by the bean counters customarily (Bjo¨rn S. Ivens et al., 2017).
The economic globalization has been seen to influence various policies which has number of empirical implications on the study. The process of the globalization in general is depicted to be emphasizing with the number of considerations associated to the global cultural differences among the countries. The international accounting in general is seen to be complex due to the linking of the globalization movement affecting the economy. The various types of the analytical abilities are seen to be based on the different types of the factors which are considered with the functions of the book keeper and information provider. Similarly, there are several types of the other principles which are seen to based on the several types of the training which are related with the decision maker, strategic planner and market analytic (Gounaris and Tzempelikos 2014).
The business leadership is depicted to be demanding as per the management accountant professional who traverse the mass of the external and internal data for guiding the improvements to the value of the enterprise. The management accountants are seen to adopt the various styles in the reporting of the concerns related to the business intelligence and data science. The best of breed management of the future accountants is needed with the blend of analytical, technical and domain capability (Spiros & Nektarios, 2014).
The changes pertaining to the analytical factors is determined with the management accounting with financial aspect. The main form of the changes is depicted in from of the analytical abilities, aptitude for the technical process, having the knowledge of the business fundamentals, interpersonal and communication skills. The changes are seen to be based on gathering quantitative data pertaining to the statements of cash flow, income statement and performance measurement. In addition to this, there are significant nature of the changes which are considered with the various types of the factors determining the budget and spend funds (Account learning, 2017).
The mere accounting profession is not seen to deal with the full-fledged finance actions. The evolved nature of the finance professional is seen to embrace the volatility and adapting to the same. The business acumen factor is considered with the resistance to the changes offered with the scenario planning. The learning perspective is rather depicted to be based on the finance workers ascending to the needs of answering the financial perspectives and operational constraints (Dimisa 2015).
The main form of the changes pertaining to the finance needs are seen to be based on the resistance factors which are based on the failure of the management in the general accounting profession. Some of the main form of the changes pertaining to the planning has been seen to be considered with the fragmented data systems and source systems which forces the changes of the people attract the various types of the policies which are seen to be based on the consideration of the collection of the payments based on the factors such as using new form of the data systems and integrating them with the technological factors. Some of the various types of the changes are seen to be depicted in form of the changes in the COGS and the operating expenses and the relating changes in form of the support functions. The changes related to the business acumen is seen with the inclusion of having the access of the predictive data. The analytical abilities are considered with the theoretical and practical understanding of the analytics and data (Björn S Ivens et al., 2017).
The accountants are depicted to combine the creativity with the deep understanding of the financial capabilities which the complex financial and non-financial factors. This is seen to generate the cost effectiveness of the business process (Ries, 2015). (4) Management Abilities
The management abilities are depicted in form of the leadership skills, problem solving and decision making. It needs to be also seen that the management abilities and distinct roles of the managers. In general, it is seen that the skills are ranging in form of planning with the individual managers and the relevant skills according to the business problems. The relevant skills depicted with the management abilities which are considered as per the facilitation of the information technology, proceeding with the project visions and taking business projects. The support of the organizations is also seen to be based on the various types of the factors which is aimed to move forward with the measures included in the milestones report. Some of the relevant skills are further depicted in form of the accuracy, administrative, analytical ability and assessment of the factors impacted with the productivity, communication framing, business storytelling, logical thinking, networking, persuasion and presentation of the data. The coordinating of the skills is further depicted to be seen with adapting to the changing business condition, emotional intelligence and facilitating with the group discussions. Some of the other relevant skill set are considered with the patience, punctuality and honesty (Davies & Ryals, 2014).
The newly introduced changes as per the business acumen is seen to be based on the different types of the consideration which are related to creating the financial report, evaluating the job candidates. Evaluation of the employee performance and financial management. The hiring process is also seen with the varying nature of the interpretation of the legal status, interview of the candidates and product management. The management positions introduced in the new concept of the management accounting are depicted with the huge influence on people’s lives. The management positions are depicted to be influencing the management position (Vanharanta et al., 2014).
The main science of the management accounting was developed in the last century and nineties. The business decisions which are based on the which are maintained at present are depicted to include the different types of the aspects which are forming an integral part of the organizational knowledge which is responsible for bringing in competitive advantage. In similar way the organizations following the management accounting are depicted with the different types of the factors associated to effective implementation as per the changes in the market and the processes which are included in the competitive advantage. The conceptual model is considered to include the organizational process related to the answering of the management accounting results which are based on the use of the several types of imperial evidence study which are linked to the strength along with the directness and indirectness of the impacts as per the changes which are included in the management accounting. Some the various types of the other factors are considered as per the skill which are seen with the quantitative research and impact of the changes in the management accounting process. The knowledge management is depicted with the accounting changes within the organization with the examining of the influence of the knowledge management, performance and innovation.
The changes considered with the Relevant Knowledge in Management Accounting and Operations is based on the consideration of the changes considered with the changes pertaining to the acquisition of the knowledge, selection of knowledge, generation of knowledge, knowledge assimilation and emission of knowledge. The changes in the knowledge is seen with the conduciveness in the identification and impact of the collective knowledge. The knowledge aspect is systematically divided as per the collective, explanatory and influence of the development of the unique value of the organization information. In a similar way there are significant changes introduced with the technological aspects with the introduction of ERP software (Wienclaw, 2015).
Conclusion
The study has evaluated that the evolving changes of Management Accounting is based on the different types of the dimensions which are seen to be based on the transformation which is uniform phenomenon. Some of the various types of the studies have related to the understanding of how the environmental factors which control the internal process among the organizations. As per the management perspective the integration of the ABC is seen with the managing of the operating activities of the organization. The factors associated to the strategic thinking is considered with partnering with the construction companies. For example, companies such as EVA has considered its main fixed assets with stores. The skills are seen to be important for the management accountant which allow them to use both the non-financial and financial indicators thereby using skills for good decision making and integrated with the operational and the strategic control factors. The past 10 years there has been a significant nature of the changes in the management accounting which related to both internal and external factors. The changes as per the analytical abilities are stated with the economic globalization which is considered as per the empirical implications on the study. The international accounting in general is seen to be complex due to the linking of the globalization movement affecting the economy. The various types of the analytical abilities are seen to be based on the different types of the factors which are considered with the functions of the book keeper and information provider. As per the inference made in the Business Acumen accounting profession is not seen to deal with the full-fledged finance actions. The evolved nature of the finance professional is seen to embrace the volatility and adapting to the same. Some of the main form of the changes pertaining to the planning has been seen to be considered with the fragmented data systems and source systems which forces the changes of the people attract the various types of the policies which are seen to be based on the consideration of the collection of the payments based on the factors such as using new form of the data systems and integrating them with the technological factors.
References
Account learning (2017) Simple random sampling | Advantages & Disadvantages, MONEY MATTERS | ALL MANAGEMENT ARTICLES.
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