Proceedings of the Academy of Accounting and Financial Studies Volume 20, Number 2 INVESTIGATING THE RELATIONSHIP BETWEEN MANAGERIAL ACCOUNTING...
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Proceedings of the Academy of Accounting and Financial Studies Volume 20, Number 2 205 INVESTIGATING THE RELATIONSHIP BETWEEN MANAGERIAL ACCOUNTING CONTROL ORIENTATION AND ORGANIZATIONAL OUTCOMES: A CONCEPTUAL FRAMEWORK Chawiang Wongjinda, Mahasarakham University Phaprukbaramee Ussahawanitichakit, Mahasarakham University Suparak Janjarasjit, Mahasarakham University ABSTRACT Managerial accounting control orientation plays a crucial role in improving competitive advantage and performance of the organization. Most prior research emphasis is on managerial accounting practice for use as a tool for operation management and control, but it is unclear on capability and function of managerial accounting that may link to operational controlling. The dimensions of managerial accounting control orientation include goal achievement setting, target costing utilization, value chain application, cost allocation determination, and budgeting participation implementation. These dimensions will enable the organization to have outstanding operational proficiency, excellent cost management, superior information usefulness, decision- making value, resource management effectiveness, and performance. Moreover, future research suggests find to antecedents, moderators, and control variables that can be related to managerial accounting control orientation and organizational outcomes for a model-fit by the literature review. This conceptual paper can develop a proposition for a hypothesis by developing the concept as a subjective questionnaire instrument. A questionnaire can use keywords in the definition for a subjective measurement in collecting data from the sample. The sample should be highly flexible in the manufacturing business and have extreme competitive pressure. Furthermore, the relationship among antecedents, consequents, moderators, and control variables of managerial accounting control orientation needs a theory to explain the phenomenon in the future research. Thus, this conceptual paper will discuss the relationships between managerial accounting control orientation and organizational outcomes. INTRODUCTION Manufacturing firms are confronted with a changing economic environment and competitive pressure. It causes these firms to adapt and find tools for controlling operations in accordance with their goal and objectives. Traditional research studies have been focusing on financial accounting information usage for controlling operational activities, but the information is insufficient (Moilanen, 2008). In addition, Ittner & Larcker (1995) propose that managers apply managerial accounting information in short-term and long-term goals to improve firm’s performance. Managerial accounting function usefulness is an important tool for managers who use planning, controlling, and decision-making to enhance firm performance. It ensures that managers apply broad managerial accounting processes to improve the efficiency and effectiveness of the operation (Chenhall & Smith, 2009). This is because managerial accounting information is richer than financial accounting (Wiersma, 2008). At this point, managers should use the skills, capabilities, and knowledge of the managerial accounting process, as well be
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Proceedings of the Academy of Accounting and Financial Studies Volume 20, Number 2 206 aware of the changing business environment for managing the challenges of control by using managerial accounting information (Erben, 2002; Hossan, Sarker, & Afroze, 2012). Prior studies have found managerial accounting practice to be a tool of a firm’s managers for operational control, but know little about managerial accounting process capability for operational controls (Duh, Xiao, & Chow, 2009). In addition, it is unclear on capability and function of managerial accounting that may link to operational controlling (Scapens & Bromwich, 2010; Stergion, Ashraf, & Uddin, 2013). Likewise, managerial accounting control orientation depends on the resources and capability of each firm because each firm has different resources, knowledge, and capability. If the firm can apply managerial accounting functions, it will help them achieve their performance and control. Then, for building excellent resource management and performance of the firm, they need to develop the ability to focus on using the ways and means of managerial accounting function for setting up and control of operational activities. Thus, in this paper, one needs to know that managerial accounting control orientation causes firm performance, including outstanding operational proficiency, excellent cost management, and superior information usefulness. These will have an effect on decision-making value and resource management effectiveness, and will drive toward better performance of the firm. The remainder of this conceptual paper is arranged as follows. The first section discusses the managerial accounting control orientation supporting perspectives in the link to it definition. The second section provides a proposition development and the conceptual framework. The last section is a contribution to future research direction and a suggestion for future research. Finally, the paper provides the conclusion of the conceptual framework. MANAGERIAL ACCOUNTING CONTROL ORIENTATION In order to understand managerial accounting control orientation, it is reviewed in the literature. Researchers have defined managerial accounting control. These definitions are integrative managerial accounting processes for utilizing determinant performance evaluation and control criteria in order to enhance the performance of an organization. In this paper, managerial accounting control orientation refers to the ability of firms to implement capability and function of managerial accounting used for operational settings and control of the firms that conform to policy and promote the goals achievement of the firm. The details of the standard definitions are concluded, based on prior research. Below is a summary of the empirical studies of managerial accounting control as presented in Table 1. Table 1 THE SUMMARY OF DEFINITIONS OF MANAGERIAL ACCOUNTING CONTROL AUTHORS DEFINITIONS OF MANAGERIAL ACCOUNTING CONTROL Wickramasinghe & Hopper (2005) Ability to implement managerial accounting processes and function such as budgeting practice to performance assessment and operational control. Adams & Santos (2006) The concerning of the ability of trustees to vote the shares they hold in a fiduciary capacity and information as instruments for managerial evaluation and Euske, Hesford, & Malina (2011) The systems and processes of managerial accounting use to ensure workers focus their attempts to achieving the firm’s strategies by controlling in each operation process. Modified by Anthony & Govindarajan (2001). Granlund (2011) Operational control by using managerial accounting techniques in integrated information accounting systems. Fullerton, Kennedy, & Widener (2013) Performance evaluation and operational control by utilizing transaction processes that gathers and aggregate data in a meaningful manner of management accounting methods.
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