Management accounting: a research review of evolution, theoretical foundations, contemporary issues, and future directions
DOI:
https://doi.org/10.33003/fujafr-2026.v4i3.413.189-202Keywords:
Management Accounting, Strategic Management Accounting, Digital Transformation, Big Data Analytics, Sustainability AccountingAbstract
Purpose: This study reviews the evolution of management accounting, its theoretical foundations, contemporary practices, emerging technological influences, and future directions. It specifically examines how management accounting has transitioned from a traditional cost-control function to a strategic tool for organizational decision-making and performance.
Methodology: A qualitative narrative review was conducted using scholarly literature published between 2016 and 2026. Relevant publications were identified through Scopus, Web of Science, ScienceDirect, Emerald Insight, JSTOR, and Google Scholar using keywords related to management accounting, strategic management accounting, digital transformation, big data analytics, and organizational performance. Relevant studies were selected based on their alignment with the study objectives, publication period, and scholarly relevance, while duplicates and unrelated publications were excluded. The selected literature was analyzed thematically.
Results and conclusion: The review indicates that management accounting has evolved through globalization, technological advancement, and changing organizational demands. Its theoretical development is informed by contingency, institutional, agency, and resource-based perspectives. Contemporary practices increasingly incorporate big data analytics, artificial intelligence, sustainability accounting, and digital technologies, while management accountants are assuming broader strategic roles. The study concludes that continued technological and environmental changes will further reshape management accounting practices.
Implication of findings: The findings highlight the need for organizations and management accounting professionals to strengthen digital competencies, integrate emerging technologies, and adapt accounting practices to support strategic decision-making and sustainable organizational performance.
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