Flippingbook publisher corporate 2.8.16
In the latter part of the twentieth century, corporates began to address the issues of the macro-factors affecting the business ( Berry et al., 2009 Cordery, 2013 Scapens, 2006) and management accountants considered themselves as business advisors, and this encouraged management accountants to make better decisions that will benefit the overall society ( Sharma et al., 2014). In the beginning of the twentieth century, management accounting was considered as a mere information tool to communicate the relevant details of business valuation in the short term and the extent of the value created in the short term ( Friedman, 1970). Contemporary management accounting practices have emerged, such as balance scorecard, activity-based costing (ABC) and life cycle costing ( Adler et al., 2000 Tempone et al., 2012). Over the past decades, there have been drastic changes in the field of management accounting ( Gaffikin, 2009 Shotter, 2001).
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This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Published in Asian Journal of Accounting Research. Copyright © 2019, Shanmugavel Rajeevan License