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7 Developments in Management Accounting 7.1 History of management accounting Introduction The following headings, each of which relates to a particular period of time, give a flavour of the various phases in the history and development of management accounting. * cost recording - prior to the nineteenth century * cost analysis - nineteenth century * cost accounting - first half of the twentieth century * management accounting - between 1950s and 1980s * strategic management accounting - 1980s to mid-1990s * cost management - mid-1990s onwards Cost recording Collecting and recording information about activities has been carried out since man first started to write, if not before. Cost analysis 'Management accounting' began to develop when individuals and businesses recognised the need to attach costs to activities and products. Between 1880 and 1914 an approach to running a factory known as scientific management was developed. Frederick Taylor, known as the father of scientific management, was largely responsible for this. Scientific management was a method for analysing...

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