Literature review on the evolution of management Accounting practices
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Jul 22, 2023
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Abstract
The purpose of this study is to review the evolution of management accounting practices, where MAP is a reference for managers to obtain the right information in terms of decision-making in order to compete with other market organizations. Contingency theory states that there is no ideal approach to organizational leadership that is universally consistent across all organizations and applicable in all circumstances. This theory also examines several factors that help management decide on appropriate management accounting practices, called contingency factors, consisting of external and internal factors. This study uses a narrative technique to review the literature, which consists of a collection and synthesis of previously released studies on the evolution of management accounting practices. Information was acquired from publications by Emerald, Elsevier, Fundacao Escola de Comercio Alvares Penteado, MDPI AG, Routledge, Springer, Taylor and Francis Ltd. that were printed in foreign journals that were listed in the Scopus index. The sample from 2018 to 2023 includes up to 19 articles on the evolution of management accounting practices. Many empirical studies use a quantitative approach where based on factors and considerations it can be concluded that traditional management accounting practices are more widely used than contemporary management accounting practices.
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How to Cite
Susilawaty, T. E., & Lubis, N. I. (2023). Literature review on the evolution of management Accounting practices. Enrichment : Journal of Management, 13(3), 1686-1694. https://doi.org/10.35335/enrichment.v13i3.1511
References
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Adeniran, A. O., & Obembe, O. E. (2020). The significance of strategic management accounting on the performance of transport businesses in Nigeria. Insights into Regional Development, 2(3), 677–688. https://doi.org/10.9770/ird.2020.2.3(5)
Alsharari, N. M., & Daniels, B. (2023). Management accounting practices and organizational change aspects in the public sector: contextual/processual approach. Journal of Accounting and Organizational Change. https://doi.org/10.1108/JAOC-10-2021-0143
Aschhoff, N., & Vogel, R. (2018). Value conflicts in co-production: governing public values in multi-actor settings. International Journal of Public Sector Management, 31(7), 775–793. https://doi.org/10.1108/IJPSM-08-2017-0222
Azudin, A., & Mansor, N. (2018). Management accounting practices of SMEs: The impact of organizational DNA, business potential and operational technology. Asia Pacific Management Review, 23(3), 222–226. https://doi.org/10.1016/j.apmrv.2017.07.014
Campanale, C., Cinquini, L., & Grossi, G. (2021). The role of multiple values in developing management accounting practices in hybrid organisations. British Accounting Review, 53(6), 100999. https://doi.org/10.1016/j.bar.2021.100999
Costa, I. L. de S., & Lucena, W. G. L. (2021). Global management accounting principles: Relationship between management practices and the performance of Brazilian companies. Revista Brasileira de Gestao de Negocios, 23(3), 503–518. https://doi.org/10.7819/RBGN.V.23I3.4112
Dasanayaka, C. H., Murphy, D. F., Nagirikandalage, P., & Abeykoon, C. (2021). The application of management accounting practices towards the sustainable development of family businesses: A critical review. Cleaner Environmental Systems, 3(June), 100064. https://doi.org/10.1016/j.cesys.2021.100064
Giannetti, R., Cinquini, L., Miolo Vitali, P., & Mitchell, F. (2021). Management accounting change as a learning process: a longitudinal analysis. Qualitative Research in Accounting and Management, 18(4–5), 484–515. https://doi.org/10.1108/QRAM-01-2017-0003
Hussein, A. (2018). Adoption , importance and barriers to the implementation of contemporary management accounting practices: evidence from Egypt. Accounting and Finance Research, 7(1), 192–213.
Hutaibat, K., & Alhatabat, Z. (2020). Management accounting practices’ adoption in UK universities. Journal of Further and Higher Education, 44(8), 1024–1038. https://doi.org/10.1080/0309877X.2019.1643457
Joshi, P. L. A. . et al. (2011). Diffusion of management accounting practices in gulf cooperation council countries. Accounting Perspectives, 10(1), 85–109.
Kalifa, A. M., Triyuwono, I., Irianto, G., & Prihatiningtias, Y. W. (2020). The use and benefit of management accounting practices in Libyan oil companies. Asian Journal of Accounting Research, 5(1), 91–102. https://doi.org/10.1108/AJAR-08-2019-0066
Mongelli, L., Rullani, F., Ramus, T., & Rimac, T. (2019). The Bright Side of Hybridity: Exploring How Social Enterprises Manage and Leverage Their Hybrid Nature. Journal of Business Ethics, 159(2), 301–305. https://doi.org/10.1007/s10551-018-4050-8
Ogungbade, O. I., & Oyerogba, E. O. (2020). Firm culture and management accounting practices among manufacturing firms in Nigeria. Future Business Journal, 6(1), 1–17. https://doi.org/10.1186/s43093-020-00034-9
Oyewo, B. (2021). Do innovation attributes really drive the diffusion of management accounting innovations? Examination of factors determining usage intensity of strategic management accounting. Journal of Applied Accounting Research, 22(3), 507–538. https://doi.org/10.1108/JAAR-07-2020-0142
Oyewo, B., Ajibolade, S., & Obazee, A. (2019). The influence of stakeholders on management accounting practice. Journal of Sustainable Finance and Investment, 9(4), 295–324. https://doi.org/10.1080/20430795.2019.1619336
Oyewo, B. M. (2021). Outcomes of interaction between organizational characteristics and management accounting practice on corporate sustainability: the global management accounting principles (GMAP) approach. Journal of Sustainable Finance and Investment, 11(4), 351–385. https://doi.org/10.1080/20430795.2020.1738141
Pires, R., & Alves, M. C. G. (2022). The Impact of Environmental Uncertainty on Accounting Information Relevance and Performance: A Contingency Approach. Economies, 10(9). https://doi.org/10.3390/economies10090211
Pires, R., Alves, M. C. G., & Fernandes, C. (2023). The Usefulness of Accounting Information and Management Accounting Practices under Environmental Uncertainty. Journal of Risk and Financial Management, 16(2). https://doi.org/10.3390/jrfm16020102
Qiu, F., Hu, N., Liang, P., & Dow, K. (2023). Measuring management accounting practices using textual analysis. Management Accounting Research, 58(October 2020), 100818. https://doi.org/10.1016/j.mar.2022.100818
Reisman, D. (2021). The multinational enterprise. Global Political Economy, 13(1), 148–168. https://doi.org/10.4337/9781788977593.00013
Saukkonen et.al; (2018). Utilizing management accounting information for decision-making: Limitations stemming from the process structure and the actors involved. Qualitative Research in Accounting & Management, 15, 181–205.
Shahzadi, S., Khan, R., Toor, M., & Haq, A. ul. (2018). Impact of external and internal factors on management accounting practices: a study of Pakistan. Asian Journal of Accounting Research, 3(2), 211–223. https://doi.org/10.1108/AJAR-08-2018-0023
Visedsun, N., & Terdpaopong, K. (2021). The effects of the strategy and goal on business performance as mediated by management accounting systems. Economies, 9(4). https://doi.org/10.3390/economies9040149
Adeniran, A. O., & Obembe, O. E. (2020). The significance of strategic management accounting on the performance of transport businesses in Nigeria. Insights into Regional Development, 2(3), 677–688. https://doi.org/10.9770/ird.2020.2.3(5)
Alsharari, N. M., & Daniels, B. (2023). Management accounting practices and organizational change aspects in the public sector: contextual/processual approach. Journal of Accounting and Organizational Change. https://doi.org/10.1108/JAOC-10-2021-0143
Aschhoff, N., & Vogel, R. (2018). Value conflicts in co-production: governing public values in multi-actor settings. International Journal of Public Sector Management, 31(7), 775–793. https://doi.org/10.1108/IJPSM-08-2017-0222
Azudin, A., & Mansor, N. (2018). Management accounting practices of SMEs: The impact of organizational DNA, business potential and operational technology. Asia Pacific Management Review, 23(3), 222–226. https://doi.org/10.1016/j.apmrv.2017.07.014
Campanale, C., Cinquini, L., & Grossi, G. (2021). The role of multiple values in developing management accounting practices in hybrid organisations. British Accounting Review, 53(6), 100999. https://doi.org/10.1016/j.bar.2021.100999
Costa, I. L. de S., & Lucena, W. G. L. (2021). Global management accounting principles: Relationship between management practices and the performance of Brazilian companies. Revista Brasileira de Gestao de Negocios, 23(3), 503–518. https://doi.org/10.7819/RBGN.V.23I3.4112
Dasanayaka, C. H., Murphy, D. F., Nagirikandalage, P., & Abeykoon, C. (2021). The application of management accounting practices towards the sustainable development of family businesses: A critical review. Cleaner Environmental Systems, 3(June), 100064. https://doi.org/10.1016/j.cesys.2021.100064
Giannetti, R., Cinquini, L., Miolo Vitali, P., & Mitchell, F. (2021). Management accounting change as a learning process: a longitudinal analysis. Qualitative Research in Accounting and Management, 18(4–5), 484–515. https://doi.org/10.1108/QRAM-01-2017-0003
Hussein, A. (2018). Adoption , importance and barriers to the implementation of contemporary management accounting practices: evidence from Egypt. Accounting and Finance Research, 7(1), 192–213.
Hutaibat, K., & Alhatabat, Z. (2020). Management accounting practices’ adoption in UK universities. Journal of Further and Higher Education, 44(8), 1024–1038. https://doi.org/10.1080/0309877X.2019.1643457
Joshi, P. L. A. . et al. (2011). Diffusion of management accounting practices in gulf cooperation council countries. Accounting Perspectives, 10(1), 85–109.
Kalifa, A. M., Triyuwono, I., Irianto, G., & Prihatiningtias, Y. W. (2020). The use and benefit of management accounting practices in Libyan oil companies. Asian Journal of Accounting Research, 5(1), 91–102. https://doi.org/10.1108/AJAR-08-2019-0066
Mongelli, L., Rullani, F., Ramus, T., & Rimac, T. (2019). The Bright Side of Hybridity: Exploring How Social Enterprises Manage and Leverage Their Hybrid Nature. Journal of Business Ethics, 159(2), 301–305. https://doi.org/10.1007/s10551-018-4050-8
Ogungbade, O. I., & Oyerogba, E. O. (2020). Firm culture and management accounting practices among manufacturing firms in Nigeria. Future Business Journal, 6(1), 1–17. https://doi.org/10.1186/s43093-020-00034-9
Oyewo, B. (2021). Do innovation attributes really drive the diffusion of management accounting innovations? Examination of factors determining usage intensity of strategic management accounting. Journal of Applied Accounting Research, 22(3), 507–538. https://doi.org/10.1108/JAAR-07-2020-0142
Oyewo, B., Ajibolade, S., & Obazee, A. (2019). The influence of stakeholders on management accounting practice. Journal of Sustainable Finance and Investment, 9(4), 295–324. https://doi.org/10.1080/20430795.2019.1619336
Oyewo, B. M. (2021). Outcomes of interaction between organizational characteristics and management accounting practice on corporate sustainability: the global management accounting principles (GMAP) approach. Journal of Sustainable Finance and Investment, 11(4), 351–385. https://doi.org/10.1080/20430795.2020.1738141
Pires, R., & Alves, M. C. G. (2022). The Impact of Environmental Uncertainty on Accounting Information Relevance and Performance: A Contingency Approach. Economies, 10(9). https://doi.org/10.3390/economies10090211
Pires, R., Alves, M. C. G., & Fernandes, C. (2023). The Usefulness of Accounting Information and Management Accounting Practices under Environmental Uncertainty. Journal of Risk and Financial Management, 16(2). https://doi.org/10.3390/jrfm16020102
Qiu, F., Hu, N., Liang, P., & Dow, K. (2023). Measuring management accounting practices using textual analysis. Management Accounting Research, 58(October 2020), 100818. https://doi.org/10.1016/j.mar.2022.100818
Reisman, D. (2021). The multinational enterprise. Global Political Economy, 13(1), 148–168. https://doi.org/10.4337/9781788977593.00013
Saukkonen et.al; (2018). Utilizing management accounting information for decision-making: Limitations stemming from the process structure and the actors involved. Qualitative Research in Accounting & Management, 15, 181–205.
Shahzadi, S., Khan, R., Toor, M., & Haq, A. ul. (2018). Impact of external and internal factors on management accounting practices: a study of Pakistan. Asian Journal of Accounting Research, 3(2), 211–223. https://doi.org/10.1108/AJAR-08-2018-0023
Visedsun, N., & Terdpaopong, K. (2021). The effects of the strategy and goal on business performance as mediated by management accounting systems. Economies, 9(4). https://doi.org/10.3390/economies9040149