IITM Journal of management and IT
Year : 2013, Volume : 4, Issue : 2
First page : ( 35) Last page : ( 50)
Print ISSN : 0976-8629. Online ISSN : 2349-9826.

Accounting in 21st Century: A Review

Gupta Himani

JIMS, New Delhi

Online published on 27 July, 2015.

Abstract

This research paper includes an analysis regarding the accounting topics related to academics and organizations that practices it. The aim was to explore if a gap exists between the theory & practice of Management Accounting. For this researchers made a questionnaire for both academics and practitioners. The practitioners’ questionnaire was made into a Google doc and the links were sent to different companies. Then the responds were collected and analyzed. The analysis has been done in several ways. Mean and mode was calculated to asses the most used or preferred topic. For the non-numeric data, the different types of variance was analyzed.

Primary data was collected with the help of Academic questionnaires from educational institutions. Another sample was collected from employees working in various organisations. Respondents were asked to rate the importance of 21 Management Accounting topics using a five point likert-type scale where (1 indicating not important, 2 indicating ok, 3 indicating average, 4 indicating important and 5 indicating extremely important). The questionnaire for the research had been classified into 8 groups: costing system, performance evaluation, budgeting, cash flow management, transfer pricing, behavioral implications, computer systems (ERP & SAP) and responsibility accounting. Separate questions related to the skills and characteristics for effective communication of Management Accounting information were attached in addition with a same pattern of likert-type scale for our respondents to rate them with ease.

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Keywords

Costing, Management Accounting, Budgeting Cash Flow Statement, Responsibility Accounting.

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