Current management accounting practices (MAPs) have incorporated financial and nonfinancial techniques to provide information at both operational and organizational levels, including factors such as competition, perceived environmental uncertainty, production environment technology, and business society. Managers' significant challenges and pressures require them to change management accounting (Ahmad & Leftesi, 2014).
Companies use management accounting (MA) with different methods and tools (traditional and contemporary) to assess their operations. Those methods help them to plan, direct and control operating costs and to achieve their targets. It is recognized that MAPs are essential for companies' success (Ahmad, 2014; Ahmad & Leftesi, 2014; Alleyne & Marshall, 2011).
In our textbook by Hilton & Platt, the MAP of well-known, real-world organizations are highlighted to stimulate student interest and provide a springboard for classroom discussion. Hence, most students are mostly aware of MAP as applied to multi-national corporations (MNC) and not so much on small to medium-sized enterprises (SMEs).
The goal of this research paper is to explore the significant application of MAPs in SMEs. The paper should critically address the following touchpoints
1. What are the most commonly used MAPs by SMEs?
2. What are the most common traditional MAPs used by SMEs and the reason for the choice?
3. What are the most common modern MAPs used by SMEs and the reason for the choice?
4. What traditional and modern MAPs that are very valuable but yet being underutilized by SMEs?
5. Discuss the constraints of SMEs that contribute to the underutilization of MAPs.
6. The portion of your paper should provide “Discussion, Application, & Analysis.” In this portion, you will choose one SME listed in this article (cut and paste the link to obtain the article)
https://www.forbes.com/sites/boburlingham/2017/05/09/forbes-small-giants-2017-americas-best-small-companies/?sh=7581268d4c32
Identify and discuss the following in the “Discussion, Application, & Analysis.”
a. What MAP do you believe they should use to improve their business even more. Remember: even though this is based on your opinion, you should find some journals and articles that will support your argument
b. Identify one or more traditional MAP you believe your SME should use to improve their business even more. Remember: even though this is based on your opinion, you should find some journals and articles that will support your argument
c. Identify one or more modern MAP you will recommend to the SME should use to improve their business even more. Remember: even though this is based on your opinion, you should find some journals and articles that will support your argument
d.
Provide a recommendation to overcome the
constraints that SMEs faces in implementing MAPs. Remember: even though this is
based on your opinion, you should find some journals and articles that will
support your argument
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