Relevance Lost: The Rise and Fall of Management Accounting by H. Thomas Johnson, Robert S. Kaplan

Product Details

Synopsis

Since its initial publication in 1987,Revelance Lost has gone through nine printings,won two major awards from the accounting profession,and had a profound impact on how management accounting systems operate in the 1990s. It has become a manifesto for managers in accounting and control. By exploring the evolution of management accounting in American business from the early textile mills to present-day computer-automated manufacturers,Johnson and Kaplan reveal why modern corporations must make major changes in the way they measure and manage costs. In a world of rapid technological change,vigorous global and domestic competition,and enormous information-processing capabilities,it is critical that managers receive information that is timely,accurate,and relevant.

Annotation

"Offers a valuable lesson for all U.S. management: Roll up your sleeves and take another look at your production line..."Wall Street Journal

Booknews

The authors, both professors of management accounting, describe the evolution of management accounting in American business, from the early textile mills to present-day computer-automated manufacturers, in order to provide historical context for the current interest in accomplishing major redesign of management accounting systems. They close with several chapters that provide a conceptual framework for the development of managerially relevant procedures to enhance process control, compute product costs, and evaluate periodic performance. Annotation c. Book News, Inc., Portland, OR (booknews.com)