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Managerial accounting is changing rapidly as a result oftechnology and new types of enterprises. Below is an article thatstates the opposite (Talha et al, 2010).
I see lots of references in this article provided that showsthat managerial accounting is changing (Talha et al, 2010) TomKennedy and Richard Bull stated âThey mentioned that it was thisperceived âlost relevanceâ that has triggered the development ofActivity Base Costing (ABC) in the mid 1980sâ Another point made isby Gary Siegel âOver the past 10 years, management accountants havebeen transformed from âbean countersâ and âcorporate copsâ on theperiphery of business decision making to âbusiness partnersâ andvalued team members at a very clear center of strategic activity.Escalating change in the profession in the past five yearscontinues to enhance the role of management accountants.â âRagnarGotestam (1994) mentioned that government commissioned the NationalBoard of Health and Welfare to observe the development of newmanagement accounting systems in social services.â
From all the reading and my experience in IT I believe thatManagerial accounting is changing with the growth of IT. Asdatabases grow and different abilities are realized with new codingforms so does managerial accounting. (en.wikipedia.org) I waslooking for how many different managerial accounting softwarepackages where on the market and I was only able to get a notion ofthe amount from Wikipedia which is not best to use as a reference,but it does give insight into the possible amount, I stoppedcounting when I hit 50 different types of software packages.Managerial accounting is changing, with newer IT technology you caneven create your own style of accounting to make numbers suitablefor your organization, old theories are good for a foundation buttechnology is always going to push the levels higher
Lack of management accountant expertise with ITknowledge has made the development of management accounting to beslow. With new technologies arising and business practiceschanging with the invention of new IT and technology systems,systems have become automated and having IT specialistsknowledgable of financial management is increasingly needed. I can speak to this from a personal aspect as I alreadyhave my BS and Masters in IT management, working in my new job Irealized that I needed to broaden my horizon some so I am currentlytaking courses to complete my MBA. The hope is that I will also beversed in the business environment and then will able to apply myIT background as well to help further my career and jobperformance. I have normally seen that it is the business andfinancial managers that are learning more about IT to make thedecisions. Implementing a managerial training plan that ensuresmanagers of all job functions are well versed in all aspects ofbusiness would also fix the problem.
Reference:
Stiglianese, Michael, Maisel, Lawrence S. (Jul 2014), BusinessFinance Best Practices for Finance Executives, IT FinancialManagement: What vs. How, retrieved February 24, 2016 from:http://businessfinancemag.com/technology/it-financial-management-what-vs-how
Talha, et al. (2010). A New Look at Management Accounting. TheJournal of Applied Business Research. Volume 26, Number 4,July/August 2012.
Wikipedia.org, Comparison of accounting software, retrievedFebruary 24, 2016 from:https://en.wikipedia.org/wiki/Comparison_of_accounting_software
