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An Evolution: Turning Management Accounting into a Strategic Function

In: Effective Implementation of Transformation Strategies

Author

Listed:
  • Mark Pickering

    (Swinburne University of Technology)

Abstract

In the past, management accounting was the set of techniques accountants used to analyse and reinterpret financial data to help other managers understand the decisions they needed to make to achieve their organisation’s goals. Because the decisions made were mostly centred on the different ways the organisation could achieve greater levels of efficiency, management accounting was not considered to be very strategic. However, with the increasing need to establish links between strategic management and operations through financial information to understand if strategy is being effectively implemented, an evolution occurred. Management accounting turned into strategic management accounting, a function that was designed to help managers make strategic management, operational management, organisational design, financial and capital management decisions or combinations of these. This chapter elaborates on what this involves with a special emphasis on how integral strategic management accounting is when enabling the organisation’s decision-makers to effectively implement a strategy.

Suggested Citation

  • Mark Pickering, 2022. "An Evolution: Turning Management Accounting into a Strategic Function," Springer Books, in: Angelina Zubac & Danielle Tucker & Ofer Zwikael & Kate Hughes & Shelley Kirkpatrick (ed.), Effective Implementation of Transformation Strategies, chapter 0, pages 177-201, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-2336-4_8
    DOI: 10.1007/978-981-19-2336-4_8
    as

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