By H. Thomas Johnson
"Relevance misplaced" is an summary of the evolution of administration accounting in American enterprise, from cloth turbines within the Eighteen Eighties and the large railroad, metal, and retail agencies, to trendy setting of world pageant and computer-automated brands. The publication indicates that sleek agencies needs to paintings towards designing new administration accounting platforms that might support managers extra absolutely of their long term making plans. it's the winner of the yankee Accounting Association's Deloitte Haskins & Sells/Wildman Award Medal. it's also on hand in paperback: ISBN 0875842542.
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Extra resources for Relevance Lost: The Rise and Fall of Management Accounting
Example text
The challenge and the opportunity for contemporary organizations we outlined at the beginning of this chapter are clear. Management accounting systems can and should be designed to support the operations and the strategy of the organization. The technology exists to implement systems radically different from those being used today. What is lacking is knowledge. But this knowledge can emerge from experimentation and communication. The innovative spirit evident one hundred years ago at the outset of the scientific management movement can be recaptured by innovative 18 Relevance Lost managers and academic researchers who are committed to developing new concepts for designing relevant management accounting systems.
Another explanation may be that nineteenth-century manufacturing, transportation, and distribution firms engaged only in single activities. Each firm diversified only among the processes required for its respective activity, reducing the firms investment decision to a series of closely linked make-or-buy decisions. For those decisions, the firm had to know only how new capital investment would affect stockturn, costs per ton-mile, or unit conversion costs. Adequate for that purpose was the information supplied in most nineteenth-century management accounting systems.
Each firm diversified only among the processes required for its respective activity, reducing the firms investment decision to a series of closely linked make-or-buy decisions. For those decisions, the firm had to know only how new capital investment would affect stockturn, costs per ton-mile, or unit conversion costs. Adequate for that purpose was the information supplied in most nineteenth-century management accounting systems. As we will show in chapter 4, accounting systems begin to link a company's performance to the capital invested in the company's business when organizations combine two or more separable activities in a single managed enterprise.