The traditional management accounting methods are not capable any more to provide the requirements emerged from the subsequent changes in the modern industry environment, or to meet its needs of accounting information. So, it becomes necessary that management accounting copes with changes in the modern industry environment through developing the traditional methods or inventing new techniques that is in line with the changes in the environment of modern industry, and meets its requirements especially with regard to accounting information. Describe four (4) criticisms of traditional management accounting that led to the evolution of management accounting practises and briefly explain the main reason for the changes in management accounting over the last decades.
The traditional management accounting methods are not capable any more to provide the requirements emerged from the subsequent changes in the modern industry environment, or to meet its needs of accounting information. So, it becomes necessary that management accounting copes with changes in the modern industry environment through developing the traditional methods or inventing new techniques that is in line with the changes in the environment of modern industry, and meets its requirements especially with regard to accounting information. Describe four (4) criticisms of traditional management accounting that led to the evolution of management accounting practises and briefly explain the main reason for the changes in management accounting over the last decades.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The traditional management accounting methods are not
capable any more to provide the requirements emerged
from the subsequent changes in the modern industry
environment, or to meet its needs of accounting
information. So, it becomes necessary that management
accounting copes with changes in the modern industry
environment through developing the traditional methods
or inventing new techniques that is in line with the
changes in the environment of modern industry, and
meets its requirements especially with regard to
accounting information.
Describe four (4) criticisms of traditional management
accounting that led to the evolution of management
accounting practises and briefly explain the main reason
for the changes in management accounting over the last
decades.
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