- Log In/Sign Up
- E-ISSN2233-5382
- KCI
E-ISSN : 2233-5382
Management Accounting in the Era of Digitalization
HOSSAIN, Dewan Mahboob
Abstract
Purpose: For the last few decades, human civilization has observed an enormous change due to digitalization. However, question remains whether and how management accounting has been transformed to meet the demand of the digitalization. This paper provides a literary illustration of such transformation in the context of a digitalized world. Research design, data and methodology: This is a conceptual study based on extant literature. Therefore, the secondary sources of materials were used. Materials include literatures published in this domain, archival documents, and other publicly available data. Results: Drawing from literary evidence, the paper first highlights the evolving character of management accounting. Then it illustrates the changing landscape in the milieu of global and institutional settings with a focus in accounting profession. It further demonstrates the digitalization impact in management accounting. Here it also identifies the changing role of management accountants. Conclusions: The paper is critical for the management accounting professionals in identifying the attributes and nature of management accounting in the contemporary world. It also provides a sketch of the potential skillset that management accounting professionals should embrace to tackle the challenges of the new environment.
- keywords
- Digitalization, Management Accounting, Management Accountant, Transformation
Reference
Afshar, V. (2016). 6 Stages of Digital Transformation. HUFFPOST. Retrieved October 10, 2020, from https://www.huffpost.com/entry/6-stages-of-digital trans_b_9822640.
Alam, S., Ranasinghe, S. B., & Wickramasinghe, D. (2019). Ethnographic Significance in Researching Management Accounting. In: P. Weetman, & Y. Tsalavoutas (Eds), The Routledge Companion to Accounting in Emerging Economies (Chapter 19), London, UK: Routledge.
Alawattage, C., Wickramasinghe, D., & Uddin, S. (2017). Theorising management accounting practices in Less Developed Countries. In: E. Harris (Eds), The Routledge Companion to Performance Management and Control (pp.285-305), London, UK: Routledge.
Beaman, I. & Richardson, B. (2007). Information Technology, Decision Support and Management Accounting Roles. Journal of Applied Management Accounting Research, 5(1), 59-68.
Bhimani, A. (2020). Digital data and management accounting: why we need to rethink research methods. Journal of Management Control, 31, 9–23. https://doi.org/10.1007/s00187-020-00295-z
Bhimani, A. & Bromwich, M. (2009). Management accounting in a digital and global economy: the interface of strategy, technology, and cost information. In: C. S. Chapman, D. J. Cooper, & P. Miller, (Eds.), Accounting, Organizations, and Institutions: Essays in Honour of Anthony Hopwood (pp.85-111), Oxford, UK: Oxford University Press.
Bhimani, A. B., Horngren, C. T., Sundem, G. L., Stratton, W. O., Burgstahler, D. & Schatzberg, J. (2012). Introduction to Management Accounting. Pearson.
Bhimani, A. & Willcocks, L. (2014). Digitisation,‘Big Data’ and the transformation of accounting information. Accounting and Business Research, 44 (4), 469-490.
Busco, C., Riccaboni, A. & Scapens, R. W. (2006), Trust for accounting and accounting for trust. Management Accounting Research, 17 (1), 11–41.
CIMA (2019). Mind The Skills Gap 2019. CIMAGLOBAL. Retrieved October 12, 2020, from https://www.cimaglobal.com/Press/Mind-the-Skills-Gap/
Davern, M., Weisner, M. & Fraser, N. (2019). Technology and the Future of the Profession. Australia: CPA Australia.
Garrison, R. H., Noreen, E.W. & Brewer, P. C. (2018), Managerial Accounting (Sixteenth Edition). NY, USA: McGrawHill Education.
Heinzelmann R. (2019). Digitalizing Management Accounting. In B. Feldbauer-Durstmüller & S. Mayr (Eds), Controlling– Aktuelle Entwicklungen und Herausforderungen. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658- 27723-99.
Kajuter, P. & Kulmala, H. I. (2005). Open-book accounting in networks: Potential achievements and reasons for failures. Management Accounting Research, 16,179–204.
Korchagina, E., Kalinina, O., Burova, A. & Ostrovskaya, N. (2020). Main logistics digitalization features for business. E3S Web of Conferences.
Lawson, R. (2019). Management Accounting Competencies: Fit for Purpose in a Digital Age? NJ: Institute of Management Accountants.
Morrar, R., Arman, H. & Mousa, S. (2017). The Fourth Industrial Revolution (Industry 4.0): A Social Innovation Perspective. Technology Innovation Management Review, 7(11), 12- 20.
Quattrone, P. (2016). Management accounting goes digital: Will the move make it wiser? Management Accounting Research, 31(2), 118–122.
Sako, M. (1992). Prices quality and trust: Inter-firm relations in Britain and Japan. Cambridge: Cambridge University Press.
Shank, J. K. (2007). Strategic cost management: upsizing, downsizing, and right(?)sizing. In: A. Bhimani (Eds), Contemporary Issues in Management Accounting (pp.1-23, Chapter 16), Oxford, UK: Oxford Scholarship Online.
Tomkins, C. (2001). Interdependencies, trusts and information in relationships, alliances and networks. Accounting, Organizations and Society, 26(2), 161–191.
Tsamenyi, M., Qureshi, A. Z. & Yazdifar, H. (2013). The contract, accounting and trust: A case study of an international joint venture (IJV) in the United Arab Emirates (UAE). Accounting Forum, 37(3), 182-195.
Webb, C. (2020). The digital accountant: Digital skills in a transformed world. UK: ACCA.
World Economic Forum [WEF] (2016). 9 quotes that sum up the Fourth Industrial Revolution. Retrieved October 9, 2020, from https://www.weforum.org/agenda/2016/01/9-quotes- that- sum-up-the-fourth-industrial-revolution.
- Downloaded
- Viewed
- 0KCI Citations
- 0WOS Citations