He was saying that without the value of predicting what could be expected given the assumed knowledge of the surrounding circumstances, organizational control could not be expected to materialize. This information becomes the basis for allocating overhead expenses to arrive at the true cost of a product or service. Discussion on the relevance of the article to this researcher’s perceptions will also be included. The author reviewed management accounting practices and their change over the past 20 years, to give insight into how research can become more fruitful in the future. Characteristics of Management Accounting. Management accounting is the process of preparing reports about business operations that help managers make short-term and long-term decisions. The reports aid in decision-making and identifying ways to run the company more efficiently. In addition to financial reporting and payroll, these programs will integrate industry-specific information about vacancies, units, tenants and property maintenance into the real estate software. Management Accounting and its Role in Organization. Property management accounting software offers a number of features that typical accounting systems do not. In addition to using typical financial data, managerial accounting can also include non-financial information such as cash on hand, current sales reports, number of sales calls per day, order backlog, delivery deadline dates, aging status of accounts … They initially focused on the manufacturing industry, where increasing technology and productivity improvements have reduced the relative proportion of the direct costs of labor and materials, but have increased relative proportion of indirect costs. Research is never confined to what is known already and rehashing the same but rather in discovering more and this could be achieve by the requirement of the suggested framework that is be interpretative, integrated and incremental. James Woodruff has been a management consultant to more than 1,000 small businesses. Activity-based costing was first clearly defined in 1987 by Robert S. Kaplan and W. Bruns as a chapter in their book Accounting and Management: A Field Study Perspective. As a senior management consultant and owner, he used his technical expertise to conduct an analysis of a company's operational, financial and business management issues. He graduated from Georgia Tech with a Bachelor of Mechanical Engineering and received an MBA from Columbia University. The main idea of the article is need to move outside the confines of management accounting and use a broader framework for conducting future research. Is there basis to with the major contention of the article? 26-9. Management of business has evolved from the time management accounting has started and with the many changes in the environment, there is need to go for new frameworks for developing and research topics on the subject. The author is therefore recommending a new framework for future research in management accounting. At the end of the day, the effect of every organization is in the life of stakeholders. What he meant was that when viewed from a broader perspective—that is by considering all stakeholders—accomplishing the objective of performance management system (PMS) as viewed under management accounting of may not cover the greater purpose of what constitute the better decisions that must be made in organizations. It helps a business pursue its goals by identifying, measuring, analyzing, interpreting and communicating information to managers. (2016, Jul 10). There is basis for the suggested framework about the author’s suggested framework particularly in having to address the need of all stakeholders instead of viewing only the concept of performance in the context of management within the organization. 229-239,  Emerald Group Publishing Limited. 4, pp. The article aimed to demonstrate a conceptual structure for the study of performance management systems, which the author claims to have subsumed one major aspect of management accounting activity, that is, performance evaluation and control (Otley, 2008). Is the article relevant to this researcher’s perceptions about the topic discussed?


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