Compare a modern (post mechanistic) management accounting technique Essay

Compare a modern (post mechanistic) management accounting technique with a traditional technique which has the same (or similar) objectives - Essay Example Management accounting deals with presentation of accounting information which assists the management of a business to come up with policies and also to facilitate the management in it normal activities (Bhattacharyya, 2011, p. 1). It is a process that involves identification, measurement, accumulation analysis, interpretation and communication of financial information that helps to facilitate planning, evaluating and controlling the activities and accountability of resources (Thukaram Rao, 2003, p. 1). For a long time, strategic management accounting was considered as a possible area of development that would boost the future contribution of management accounting. In the 1980, the United Kingdom Chartered Institute of Management Accountants ordered an inquiry that was to review the current state of the development of management accounting. The findings were consequently published in a report entitled Management Accounting: Evolution and Revolution which drew attention to strategic management accounting as an area for future development (Drury, 2008, p. 570). There are a number of new techniques that have been introduced that are aimed at making management accounting more relevant to the production methods that are used in the modern world. This management accounting methods include; strategy management accounting, life cycle costing, target costing and Kaizen among others (Collier and Agyei-Ampomah, 2008, p. 50). The traditional focus of management accounting was on the period after the product had passed the design and development stage and has gone into production so that it can be taken to the market for the consumers to buy (Collier and Agyei-Ampomah, 2008, p. 51). In traditional management accounting, the control procedures focused mainly on the manufacturing stage of the whole life associated with a product. Cost that were realized