Managemant Accounting Gaining Importance In The Era Of Globalisation

This paper explores the idea of management accounting gaining importance in the era of globalization. Globalization is an important trend that affects the world deeply in new millennium. It is seen that a new era starts and nations face huge changes in their social, economic and cultural ways. New concepts and values come into our lives and they carry new problems and perspectives for the nation in the process of globalization. Management Accounting is another important concept in global world. The business environment in world has changed rapidly over recent decades, and continues to change. Globalization has brought new technology and made the business environment in world open to greater competition. It has identified those changes in both external and internal organizational. Factors have influenced changes in management accounting practices in the organizations. When business organizations respond to challenges by embarking on a change management path, they are faced with the choices of which ones of the many management methods, techniques and systems would be most effective. This is important as the management accounting system plays an important role in providing useful information to management, especially in the decision making process.