Historical development approach and suggestions to establish management accounting field for countries

Abstract

Management accounting plays an important role in each function of the management process such as planning, controlling, organizing, communicating and motivating. All of these functions have an impact on the decision-making process and therefore any manager needs to better understand how to use management accounting information. Strategic decision making is the process of choosing the best course of action to achieve a business's goals and objectives. Thereby, the organization will use management accounting tools as a necessary lever in this process because the system will provide information about business financial performance, which is essential for determining the basis of financial performance. opportunities and threats, evaluate options and make decisions. However, in Vietnam, the introduction of management accounting is only considered to have begun when Circular 53/2006/TT-BTC was issued. Understanding the development of management accounting in the world will help have more evidence to shape improvements and promote clearer formation of this type at Vietnamese entities in the coming time.