A review of U.S. management accounting evolution: Investigating shifts in tools and methodologies in light of national business dynamics

Abstract

This study provides a comprehensive analysis of the evolution of management accounting in the United States, focusing on the shifts in tools, methodologies, and the influence of national business dynamics. The primary objective was to understand how management accounting practices have adapted to technological advancements, economic changes, and regulatory developments. Utilizing a systematic literature review process, the study involved identifying relevant literature through databases like Scopus, Web of Science, and Google Scholar, employing keywords related to management accounting evolution. The selection of sources was based on predefined inclusion and exclusion criteria, emphasizing relevance, quality, and methodological rigor. Content and thematic analysis was used to interpret findings from the qualitative data. Key findings revealed a significant evolution from traditional cost accounting methods to strategic, data-driven approaches, influenced by technological advancements and changing business environments. The study identified a shift towards integrated, predictive, and data-driven management accounting practices, with a growing focus on sustainability and digitalization. The impact of technological, economic, and regulatory factors was found to be profound, necessitating continuous adaptation in management accounting practices. The study concludes that management accounting in the U.S. is highly dynamic, responding effectively to technological and economic changes. Recommendations for future research and practice include embracing technological advancements, adapting to economic and regulatory changes, focusing on sustainability, enhancing education and training, and encouraging collaborative research. This study underscores the necessity for ongoing adaptation and innovation in management accounting to maintain relevance in a rapidly evolving business landscape.