The New Roles of Management Accounting Research Paper by Mark

This paper examines the applicability of traditional management accounting techniques in the modern market-driven environment, along with the new roles and responsibilities that are vital for thriving management accountants. The paper shows that it is imperative for management accountants to acquire critical skills, namely communication and analytical expertise, comprehensive knowledge in the area of accounting, information technology and the business and the ability to work in a team, so as to fully reap the benefits of the new advanced approaches.

Table of Contents:

1 Introduction
2 The Evolution of Management (Cost) Accounting
2.1 Single-Activity Enterprises
2.1.1 Early Nineteenth Century Textile Mills
2.1.2 Middle Nineteenth Century Railroad Companies
2.1.3 Late Nineteenth Century Large Retailers
2.2 Scientific Management Movement and Standard Costing
2.2.1 The Scientific Management Movement
2.2.2 The Emergence of Standard Costing
2.3 Multi-Activity Enterprises
2.3.1 Return on Investment (ROI)
3 Critique of 20th Century Management Accounting
3.1 Lack of Relevance
3.2 Cost Distortion
3.3 Inflexibility
3.4 Incompatibility with World Class Approaches
3.5 Inappropriate Links to the Financial Accounts
4 21st Century Management Accounting
4.1 The Focus of Future Management Accounting
4.2 The Role of Future Management Accounting
4.2.1 Internal Consultants or Business Analysts
4.2.2 Team Member / Leader and Advisor
4.2.3 Financial Information Specialists and Information System Designer
4.3 Critical Skill Required By Management Accountants
4.3.1 Sound Understanding of Accounting Knowledge and Skills
4.3.2 Comprehensive Understanding and Competence of Business
4.3.3 Communication Skills
4.3.4 Analytical Skills
4.3.5 Knowledge of Information Technology Systems
4.3.6 Teamwork
5 Conclusion
6 Bibliography