Exploring the Role and Impact of Strategic Management Accounting Tools: A Comprehensive Literature Review

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Page Numbers: 324-336
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Published: Aug 9, 2024
Digital Object Identifier: 10.58578/ijhess.v2i3.3614
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Authors:
Binod Shah1, Rajesh Kumar Sah2, Kiran Kumari Sah3
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Main Article Content

Binod Shah
R. R. M. Campus, Janakpurdham, Tribhuvan University, Nepal
Rajesh Kumar Sah
R. R. M. Campus, Janakpurdham, Tribhuvan University, Nepal
Kiran Kumari Sah
R. R. M. Campus, Janakpurdham, Tribhuvan University, Nepal

Abstract

In today's rapidly evolving and highly competitive business environment, organizations seek sustainable competitive advantages and enhanced performance through strategic management accounting (SMA). This comprehensive literature review explores the tools and techniques of SMA, bridging the gap between financial accounting and strategic decision-making. The study identifies and categorizes a wide range of SMA tools, including activity-based costing, balanced scorecard, value chain analysis, benchmarking, customer accounting and competitor accounting. The review highlights the significance of SMA in aligning financial and non-financial information with strategic objectives, facilitating informed decision-making, and improving organizational competitiveness and financial performance. Key findings emphasize the practical applications of SMA tools across various industries and sectors, as well as the challenges and ambiguities surrounding their impact assessment. The study also identifies gaps in the existing literature, particularly the need for more comprehensive insights into the contextual factors influencing the effectiveness of SMA tools. This review provides valuable insights for scholars, practitioners, and policymakers, offering a foundation for future research and practical guidance on leveraging SMA tools in today's dynamic business landscape.

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How to Cite
Shah, B., Sah, R. K., & Sah, K. K. (2024). Exploring the Role and Impact of Strategic Management Accounting Tools: A Comprehensive Literature Review. International Journal of Humanities, Education, and Social Sciences, 2(3), 324-336. https://doi.org/10.58578/ijhess.v2i3.3614

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Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.

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