Business, Management and Accounting
7 years ago

Financial accounting dominance threatens relevance of managerial accounting techniques.

Accounting Historians Journal
PROFESSIONAL DOMINANCE: THE RELATIONSHIP BETWEEN FINANCIAL ACCOUNTING AND MANAGERIAL ACCOUNTING, 1926–1986
Alan J. Richardson

Paper Summary

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The article explores how financial accounting overshadowed managerial accounting from 1926 to 1986, affecting the relevance of management accounting techniques. It delves into the struggle for managerial accounting to be recognized as a separate profession from financial accounting. The study reveals the methods used to subordinate managerial accounting, including technical, organizational, and professional means. It shows that management accountants were aware of how their relationship with financial accounting impacted the usefulness of their techniques. The ongoing debate between financial and managerial accounting continues to be a contentious issue.