Strategic Cost Management: The Future of Management Accounting
Management accounting has undergone various changes throughout the last forty years, and it is certain that it will continue to change even more in the future. Businesses can no longer rely solely, on traditional management accounting practices to stay competitive in today’s global marketplace. If companies hope to be successful they must implement the concepts of strategic cost management. The purpose of this paper is to look at the history of strategic cost management, to see how it is being implemented today, and to show that its importance to the future of management accounting and to businesses as a whole.