Governance at source through : management accounting benchmarking : a way forward for public sector / Ibrahim Kamal Abdul Rahman
Benchmarking of management accounting involves the search for best practices within the industry and is considered critically important for organisational survival as it enables businesses to use the best management tools and techniques to achieve superior value creation and business performance...
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| Main Author: | |
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| Format: | Book |
| Language: | English |
| Published: |
UiTM Press
2015
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| Subjects: | |
| Online Access: | http://ir.uitm.edu.my/12249/ http://ir.uitm.edu.my/12249/1/PL_IBRAHIM%20KAMAL%20ABDUL%20RAHMAN%20%2015.pdf |
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| Summary: | Benchmarking of management accounting involves the search for best
practices within the industry and is considered critically important
for organisational survival as it enables businesses to use the best
management tools and techniques to achieve superior value creation
and business performance. There has been allegations that management
accounting has somewhat lost its relevance as it was not providing
adequate support to managers who are faced with various challenges
within rigorous competitive global economy. In view of this the National
Award for Management Accounting (Management Accounting Award)
was pioneered in Malaysia. Aimed towards "regaining management
accounting prominence" the management accounting award focuses on
showcasing (i) management accounting excellence; (ii) management
accounting best practices; (iii) management accounting best practice
solution. When the award was launched in 2004, it was to be a
benchmarking tool for management accounting practices by the nation.
The management accounting award project had humble
beginnings. The benchmarking idea was initially mooted in 2003 by
the Financial Management and Accounting Committee (FMAC), also
known as Professional Accountants in Business (PAIB) of the Malaysian
Institute of Accountants (MIA). To organise the initiative, the MIA
collaborated with the Chartered Institute of Management Accountants
(CIMA) Malaysia Division. MIA and CIMA then invited Universiti
Teknologi MARA (UiTM) and the National Productivity Centre (NPC,
now Malaysian Productivity Corporation or MPC) to become strategic
partners and to share their expertise to make Management Accounting
Award a reality.
Initially in 2004, the Management Accounting Award had only
targeted larger corporations, namely public listed and multinational
companies. In 2005, the organising committee agreed to include smaller
companies. Hence, the Management Accounting Award for small and
medium enterprises (SMEs) was introduced.
The collaboration between the professional bodies and
academia is a product of almost 20 years of continued involvement
of UiTM academics to enhance management accounting practices
in the region. The invaluable experience of the author gained from
professional collaborations with Mr. Yeo Teck Ling (chairman of the
PAIB Committee MIA from 2000 to 2006) and MIA council member
from 2004-2008, provided rich foundations for a research project on
Management Accounting Benchmarking in Asia (2002 to 2004). That
research project which was led, was the author was funded by the
Japanese Society for the Promotion of Science (JPSS). The author's
other co-researchers comprised of Professor Akira Nishimura (Kyushu
University), Professor Dr. Maliah Sulaiman (International Islamic
University), Professor Suppaporn (University of Chullalongkorn),
Professor Chan Yoke Kai (Singapore) and Professor Dr. Normah Omar
and Professor Dr. Zubaidah Zainal Abidin both from UiTM.
This monograph describes the events leading to the formation
of Management Accounting Award in Malaysia and illustrates its
principles while showcasing case studies of award winning firms which
was published by MIA, CIMA, MPC and UiTM. The case studies
was prepared by Professor Datin Dr. Suzana Sulaiman and her team.
It contains an account of some features of management accounting
practices in the case studies. |
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