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Evolution of Management Accounting discipline and its relationship with other functions in organizations - Essay Example
Finance & Accounting
Pages 12 (3012 words)
Names Title Subject Institution Tutor Date Evolution of Management Accounting discipline and its relationship with other functions in organizations Introduction According to Bhimani (63), management accounting discipline is widely used in running of organizations and has enabled managers to simplify the operations of the organizations and has increased efficiency of running the business towards attaining managerial objectives…
They sought for strategies that would apply better in their situations and this became acceptable in every other organization especially in United States and Europe (Kaplan, 391). The desires was mainly driven by the need for efficiency of utilization of scarce factors of production especially labour and find a way of motivating managers in order to achieve the goals of business owners (Riahi-Belkaoui, 67). This study helps students and business people to understand how different cost accounting started and the basis in which they came into existence. It will also help assist to with criterion to develop new strategies for making different accounting options specific to their situations. According to Kaplan (391), most of the managerial accounting approaches in use at present came into existence long before 1925. Most of the advancements in cost accounting came into existence between 1850 and 1915. These changes were mainly imposed by railroad construction and establishment of a steel industry coupled with the outcome of the scientific management interest groups. ...