Governance at source through : management accounting benchmarking : a way forward for public sector / Ibrahim Kamal Abdul Rahman

Abdul Rahman, Ibrahim Kamal (2015) Governance at source through : management accounting benchmarking : a way forward for public sector / Ibrahim Kamal Abdul Rahman. Professorial Lecture . UiTM Press, Shah Alam. ISBN 978-967-363-347-0

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Abstract

Benchmarking of management accounting involves the search for best practices within the industry and is considered critically important for organisational survival as it enables businesses to use the best management tools and techniques to achieve superior value creation and business performance. There has been allegations that management accounting has somewhat lost its relevance as it was not providing adequate support to managers who are faced with various challenges within rigorous competitive global economy. In view of this the National Award for Management Accounting (Management Accounting Award) was pioneered in Malaysia. Aimed towards "regaining management accounting prominence" the management accounting award focuses on showcasing (i) management accounting excellence; (ii) management accounting best practices; (iii) management accounting best practice solution. When the award was launched in 2004, it was to be a benchmarking tool for management accounting practices by the nation. The management accounting award project had humble beginnings. The benchmarking idea was initially mooted in 2003 by the Financial Management and Accounting Committee (FMAC), also known as Professional Accountants in Business (PAIB) of the Malaysian Institute of Accountants (MIA). To organise the initiative, the MIA collaborated with the Chartered Institute of Management Accountants (CIMA) Malaysia Division. MIA and CIMA then invited Universiti Teknologi MARA (UiTM) and the National Productivity Centre (NPC, now Malaysian Productivity Corporation or MPC) to become strategic partners and to share their expertise to make Management Accounting Award a reality. Initially in 2004, the Management Accounting Award had only targeted larger corporations, namely public listed and multinational companies. In 2005, the organising committee agreed to include smaller companies. Hence, the Management Accounting Award for small and medium enterprises (SMEs) was introduced. The collaboration between the professional bodies and academia is a product of almost 20 years of continued involvement of UiTM academics to enhance management accounting practices in the region. The invaluable experience of the author gained from professional collaborations with Mr. Yeo Teck Ling (chairman of the PAIB Committee MIA from 2000 to 2006) and MIA council member from 2004-2008, provided rich foundations for a research project on Management Accounting Benchmarking in Asia (2002 to 2004). That research project which was led, was the author was funded by the Japanese Society for the Promotion of Science (JPSS). The author's other co-researchers comprised of Professor Akira Nishimura (Kyushu University), Professor Dr. Maliah Sulaiman (International Islamic University), Professor Suppaporn (University of Chullalongkorn), Professor Chan Yoke Kai (Singapore) and Professor Dr. Normah Omar and Professor Dr. Zubaidah Zainal Abidin both from UiTM. This monograph describes the events leading to the formation of Management Accounting Award in Malaysia and illustrates its principles while showcasing case studies of award winning firms which was published by MIA, CIMA, MPC and UiTM. The case studies was prepared by Professor Datin Dr. Suzana Sulaiman and her team. It contains an account of some features of management accounting practices in the case studies.

Item Type: Book
Subjects: H Social Sciences > HD Industries. Land use. Labor > Management. Industrial Management > Total quality management. Benchmarking
H Social Sciences > HF Commerce > Accounting. Bookkeeping
Divisions: Penerbit UiTM (UiTM Press)
Depositing User: Admin Pendigitan PTAR
Date Deposited: 04 Jun 2015 08:14
Last Modified: 07 Jan 2017 00:47
URI: http://ir.uitm.edu.my/id/eprint/12249

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