From Information Provider to Value Creator: The Evolution of Management Accounting Profession in a Malaysian Case Study
Transformation of management accounting profession from bean counter to hybrid accountant and from information provider to value creator is seen to be a great transformation for more than two decades. The objective of this study is to examine past and fut
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From Information Provider to Value Creator: The Evolution of Management Accounting Profession in a Malaysian Case Study Organization Zairul Nurshazana Zainuddin and Suzana Sulaiman
Abstract Transformation of management accounting profession from bean counter to hybrid accountant and from information provider to value creator is seen to be a great transformation for more than two decades. The objective of this study is to examine past and future management accountants’ roles and tasks in a Malaysian organization. A case study method was employed in this study. A face-to-face interview was conducted with key personnel from management accounting division in the selected organization. The case study findings revealed that the vital past role of management accountants was information provider. However, in the future, they are expected to be forward looking. They are also expected to be a hybrid accountant and successor to the value creation within the organization. Overall, the finding provides evidence that management accountant contributes significant role in pursuing business survival and success. Keywords Management accounting profession • Management accountants’ roles • Management accountants’ tasks • Management accounting change
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Introduction
As business evolves, products have shorter life cycles and customer tastes keep changing [1]. This new competitive environment requires companies to create value for their customers and to differentiate themselves from their competitors through the formulation of a clear business strategy [2]. Companies in Malaysia were also experiencing changes in their business operation and have to cope with the current changes [3]. As important contributors to the country’s economy, companies in Malaysia must optimally plan and strategically used their expertise to enhance competitiveness [4]. They need to be proactive and remain competitive, Z.N. Zainuddin (*) • S. Sulaiman Faculty of Accountancy, Universiti Teknologi MARA, 40450 Shah Alam, Malaysia e-mail: [email protected] © Springer Science+Business Media Singapore 2016 N.Z. Mohd Sidek et al. (eds.), Proceedings of the ASEAN Entrepreneurship Conference 2014, DOI 10.1007/978-981-10-0036-2_18
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or else the companies will lose their customers to competitors [5]. The accounting profession is believed to be the most important and challenging profession in the economic world today, particularly the role of management accountants in allocating the resources and measuring the business performance [6]. Management accountants have significant influence in directing an organization’s goal and assisting the manager to make a right decision for the continuity of business operation [7]. The changes of organizations’ activities due to globalization [8], intense competition [6], information technology [9], and changes in regulations [10] definitely change the roles and tasks of management accountants in an organization. Therefore, this study is carried out to determine how the changes of ma
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