Analysis Report On Management Accounting System - 1459 Words

A management accounting system collects accounting information and converts the information to an analysis report in order to help managers make correct decisions and let stakeholders fully understand how the company runs. In another word, the main purpose of the management accounting system is assessing the company’s performance with the help of different measurements. Thus, management accounting system reform should be closely linked to performance measurement. The most traditional way to measure company’s performance is comparing the historical financial figures. However, such measure has been challenged by both academics and practitioners as the dysfunction consequences in assessing rewards for managers and issues in capturing customer quality have been recognized. Under this competitive environment, one traditional performance measurement may not be good enough to fit all the businesses . In order to help businesses measure their performance accurately, the innovations and changes may take place when designing and adopting the management accounting system. Focusing on innovations and changes part firstly, two major schools were introduced to companies. They are the stakeholder approach and shareholder approach, respectively. According to the stakeholder approach, the competition on many dimensions will let the companies realize that theyShow MoreRelatedAccounting (Managerial) 530 Portfolio Case Study978 Words   |  4 PagesAccounting (Managerial) 530 Portfolio Case Study Imagine you are applying to become a trainee in a management consulting company, Solutions Inc., which claims to deliver innovative solutions. They are looking for innovative employees who engage with their work. The selection process will be rigorous. 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