Value Creation Through Management Accounting Practices in Large Thai Manufacturing Companies
Journal Title: Polish Journal of Management Studies - Year 2019, Vol 19, Issue 2
Abstract
This research explores the extent to which various management accounting practices (MAPs) have been implemented in large Thai manufacturing companies. Although IFAC 1998, which describes management accounting evolution, has been studied extensively in the two decades since its release, MAPs and their diffusion for business value creation has received relatively little attention. This study uses a survey questionnaire to collect information on this subject. Of the 1,500 companies that received the survey, 205 provided usable, complete responses, for a 13.67% response rate. Cluster analysis is used to group a set of data objects into four clusters with hierarchical agglomerative methods, and a discriminant analysis is used to assure the cluster analysis classification’s accuracy. The results show that the respondents used Budgeting for product cost controlling the most. We also discovered that the new, advanced MAPs are used increasingly among many large Thai companies. MAPs are used to create value for large Thai companies, but not yet to the highest stage, based on the IFAC evolution model. Adoption is still far behind compared to the pace of change in production processes, especially in light of increasing competition on the global level.<br/><br/>
Authors and Affiliations
Kanitsorn Terdpaopong, Nimnual Visedsun, Kanibhatti Nitirojntanad
Keywords
Related Articles
- EP ID EP600029
- DOI 10.17512/pjms.2019.19.2.34
- Views 71
- Downloads 0
INDUSTRY 4.0 – ARE WE READY?
The concept of Industry 4.0 is a new reality of the modern economy, because innovation and technological development play an important role in each organization. Industry 4.0 significantly changes products and production...
BIOMASS CLUSTERS INFLUENCE ON BUSINESS COMPETITIVENESS
The main problem of the paper is that in today’s world where is a necessity to provide alternative energy, which would not undermine environment and conserve finite world resources. Clusters of biomass can help make it r...
THE ANALYSIS OF OPPORTUNITIES TO USE THE LEAN IT CONCEPT IN MODERN ENTERPRISE
The article concerns the nature of the application of the lean IT conception to optimize business processes and organization’s IT infrastructure. The development of the lean manufacturing conception and its real positive...
MEASURING THE IMAPCT OF BUSINESS INTELLEGENCE ON PERFORMANCE: AN EMPIRICAL STUDY
In this study explain rapidly changing business environment, the need for very timely and effective business information is recognized as being indispensable for organizations not only to succeed, but even to survive. Bu...
ANALYSIS OF PRICES FOR ELECTRICITY AT THE POLISH POWER EXCHANGE
The main part presents the analysis of prices for electricity at the polish power exchange. The structure of production, energy consumption, power generation structure and energy exchange with foreign countries is descri...