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Managerial Accounting:
Managerial accounting emphasizes on decisions affecting the future and the relevance of
items relating to decision making. It reports to the insiders of an organization for
planning, directing and motivating, controlling and performance evaluation. However
timeliness of information is required in managerial accounting. It also prepares detailed
segment reports about departments, products, customers, and employees.
It is essential for the organizations to adopt new management accounting tools and
techniques in order to keep pace with the increasing market economy. Bangladeshi
organizations should also focus on adopting these techniques. In typical Bangladeshi
firms, all sectors fail to practice some newly developed techniques, though there is
difference in extent of practices among the sectors. If this trend continues, Bangladeshi
organizations will lag behind in the race of global competitiveness and comparative
advantages. Therefore, some policy recommendation has been made to improve the
management accounting practices.
To keep pace with today’s changing world, Bangladesh should adopt the newly
developed techniques. A well balanced practice of those techniques irrespective of the
sectors may be enhanced through compulsory enactment of cost and management
accounting audit in Bangladesh.