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Essay / Research Paper Abstract
The business environment has changed substantially in recent times. It has been suggested that these changes should lead to a reappraisal of ‘traditional’ management accounting practices such as product costing, budgeting, variance analysis, and performance measurement. This 20 page paper considers the reasons why traditional management accounting practices may no longer appropriate, looks at some of the types of changes which have been suggested, discusses the possible adverse consequences and identifies cases where such changes have implemented, looking at the outcomes. The bibliography cites 18 sources.
Page Count:
20 pages (~225 words per page)
File: TS14_TEMAchange.rtf
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Unformatted sample text from the term paper:
much more diverse. As business and the business environment has changed many business practices have also had to adapt to keep pace with the changes to meet the needs of
the business. One area that has seen change but is often hidden is the function of management accounting. Once this was the simple role of booking keeping and everyday financial
management to assess progress management accounting has developed s not only a support function but an area of business that is of strategic importance, giving the company information they need
on an ongoing basis in order to minimise risk and maximise the use of resources. However, the way management accounting takes place has been slow to change, many development have
taken place, but the practices may be seen as old fashioned with a need to change. Many areas have changed and there have been calls for change in terms
of management accounting practices such as product costing, budgeting, variance analysis, and performance measurement. There have been some changes, but many are still in the process of being adopted,
in other areas the changes are more controversial. If we consider the first area mentioned; that of product costing these are changes that are gradually being seen introduced, but agent
which there is still some resistance. Product costing has traditionally been undertaking using the absorption costing method, this was seen as meeting the needs of businesses the way all
costs were covered with a model that gave a clear picture on the level of cost for each product and the break even point, where all the over heard were
split between the different products that would be made. This was seen as not only giving clear picture, but by ensuring each product too a share of the overheads there
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