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Essay / Research Paper Abstract
This is a 10 page paper reviewing the book “Relevance Lost: The Rise and Fall of Management Accounting” by H. Thomas Johnson and Robert S. Kaplan first published in 1987 and has since been printed over nine times. The book is extremely relevant in its recognition of the importance of the development of the management accounting discipline over its course in history and the realization that the system must be drastically updated in order to be effective in today’s global competitive industries.
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Page Count:
10 pages (~225 words per page)
File: D0_TJJohns1.rtf
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Unformatted sample text from the term paper:
of Management Accounting" by H. Thomas Johnson and Robert Kaplan in 1987. Johnson and Kaplan not only recounted the historical development of the management accounting discipline and the effect it
had in the development and increasing industrial community within the United States in the 1800s but they also recognized a need for change in the industry which has been using
the same procedures since the early 1900s. These procedures were found to be unable to keep up with the competitive global market during the latter half of the 1900s and
is said to be the partial cause of the decrease in the marketplace that larger companies now hold. It was demonstrated by Johnson and Kaplan that smaller more focused companies
have dominated in the last forty years of global production and in order for larger companies to compete, they must renovate their management accounting systems to function on an activity-based
costing system. This being said, many industries today have adopting such policies in at least a fashion which complements their existing systems. The book has had over nine printings and
in between each print, Johnson and Kaplan have been approached by experts in areas other than accounting and sharing their ideas on cost maximization. "Relevance Lost" has now become the
basis for understanding management accounting and its role within the global industrial community. Background and Review In this new world of innovative technology and rapid growth traditional management accounting
processes which are vital to long-term planning are becoming outdated. With this in mind, H. Thomas Johnson and Robert S. Kaplan, professors of management accounting at Portland State University (Johnson),
Harvard Business School and Carnegie-Mellon University (Kaplan), Johnson and Kaplan document the history and evolution of management accounting in an attempt to provide the needed information required to update and
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