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“If management accountants are to remain useful to the organisations within they work, they need to keep current with changes in management practices” (Horngern, 2002) Management accounting was evolved from financial accounting in the 19th century
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"If management accountants are to remain useful to the organisations within they work, they need to keep current with changes in management practices" (Horngern, 2002) Management accounting was evolved from financial accounting in the 19th century, due to the escalated need for more detailed and timelier information for stock control, product costing and decisions affecting the future. The main aim of it was to "provide timely and accurate information which can help create value" (Atkinson et al). I am going to investigate how management accounting has developed over time and whether it still provides a useful tool to managers. Accounting is now facing new challenges, "business people must increasingly recognise that the challenge now is to help to deliver simultaneously economic prosperity, environmental quality and social equity" (Elkington, 1998), which is causing mangers to re-evaluate the practises that are currently conducted. Traditionally management accounting systems were concerned with providing financial information....
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