ISSN: 2225-8329
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The paper specifies its focus on rapid transition in management accounting techniques to process oriented techniques and to profoundly study new developments in management accounting system in last few years. The purpose of the paper is to bring newer and modern management techniques to light, such as TQM, the Balanced Scorecard, Activity Based Accounting, Target Costing and Just-in-Time (JIT).These tools really help management accounting to reduce accounting transaction and to find more approximate cost of product in detail showing participation of every department and much more help in budget process and revenue recording for each department. The traditional management accounting tools, e.g. Budgeting, Standard Costing, Cost Volume Profit CVP) analysis and financial performance measurement are also very useful but to work with today’s customer focused environment and to measure the financial and non financial performance of the organization, less cost, more revenue and performance, the process oriented management accounting techniques are more useful.
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In-Text Citation: (Sheikh & Rana, 2014)
To Cite this Article: Sheikh, Z., & Rana, S. (2014). Why Process Oriented Management Accounting Techniques are More Useful to Handle New Era Problems. International Journal of Academic Research in Accounting Finance and Management Sciences. 4(2), 344 – 352.
Copyright: © 2014 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
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