Management accounting and knowledge management: management accountants are becoming strategic resource managers

Article Abstract:

Knowledge management has become one of the new responsibilities of managerial accountants. This is a far cry from the management accountants of yore whose sole duties were exclusively devoted to factory accounting, budgeting and cost accounting. For today's management accountants, the main concern is learning how to become strategic resource managers and one of the resources that they have to manage is knowledge. Knowledge may be in individual thoughts, collective understandings of groups or corporate cultures. It is demonstrated in work methods, structures and systems, physical articles, communication channels and language patterns. Because knowledge is considered as a core competency and a strategic capability, it is imperative that companies learn how to harness their knowledge and management accountants are being tapped to perform this duty. Knowledge management at Australis Corp. is discussed.

Methods, Case studies, Resource allocation

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Managerial accounting needs a philosophical base

Article Abstract:

The field of management accounting lacks a deep philosophical foundation. It has no equivalent to such works as Littleton's 'Structure of Accounting Theory,' Mautz and Sharif's 'The Philosophy of Auditing' and Scott's 'Cultural Significance of Accounts,' which provide a philosophical basis for generally accepted accounting principles (GAAP). Managerial accounting that is grounded on philosophy would promote the teaching and practice of cost/management accounting. An attempt is made to develop a philosophical foundation for the field by proposing a list of managerial accepted accounting principles (MAAP). These proposals are presented under the following general headings: timely and accurate information, direction and motivation, advantages of MAAP over GAAP and tax accepted accounting principles, and more specific topics.

Beliefs, opinions and attitudes

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