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Heuristic Reasoning In Management Accounting
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Book Synopsis Heuristic Reasoning in Management Accounting by : Jörn Sebastian Basel
Download or read book Heuristic Reasoning in Management Accounting written by Jörn Sebastian Basel and published by BoD – Books on Demand. This book was released on 2012 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Heuristics are short-cuts and deliberately ignore information, for instance through examining fewer cues or integrating less information. However, this collides with a view on management accountants and controllers as rational agents which seems to suggest that all available information should be considered. As their role as information supplier is often accompanied with the task to assist managers in their judgment and decision making, they have huge influence on these processes. Therefore, it is of high relevance to know if, how, and which heuristics management accountants and controllers use. Furthermore, we need to know which individual and situational factors influence their usage of heuristics. With a series of five empirical studies, applying a mixed-methods research design, the author sheds light to these research questions and addresses some central claims of the potential biases but also the stunning benefits of relying on heuristic reasoning. Central to his discussion are dual-process-approaches which are debated in cognitive psychology. Scholars of these approaches claim that we should distinguish between two distinct processes (or systems) of the human mind. Following this interpretation, heuristics are processes which are described as intuitive, automatic, fast, and unconscious. They are routinized cognitive processes which are based on experience in certain social environments and thus often exhibit ecological rationality. Overall, this book picks up an up-to-date topic in behavioural accounting research, which not only is of relevance for researchers but as well for practitioners.
Book Synopsis Heuristics as Effort Reduction Mechanisms in Management Accounting - Some Evidence on Process Characteristics and Pre-Conditions by : Jörn Sebastian Basel
Download or read book Heuristics as Effort Reduction Mechanisms in Management Accounting - Some Evidence on Process Characteristics and Pre-Conditions written by Jörn Sebastian Basel and published by . This book was released on 2013 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to provide a fresh look at use of heuristics in management accounting from a process-oriented perspective. In experimental study 1 participants facing an accounting decision mostly ignored advice to decide rationally (e.g. in the sense of strictly following the instructions of the equal weights rule) and instead used heuristics in an ostensibly rational decision task. A detailed process analysis of these heuristics is provided through a verbal protocol analysis in study 2, which showed the typically involved phased strategy. Accountability, as introduced in study 3, is however one external factor that is strongly linked with the use of available cues and departing from (at least reported) non-compensatory rules. Overall, it is suggested that participants facing a management accounting task may not always act according to the laws of (economic) rationality, but under certain circumstances, their decision making can be seen as an adaptive strategy to cope with a complex and uncertain environment. A theoretical framework of this sort of heuristic reasoning in management accounting is suggested, together with possibilities of future research.
Book Synopsis Anchoring and Motivated Reasoning in Managers' Review of Accounting Estimates by : Matthew J. Hayes
Download or read book Anchoring and Motivated Reasoning in Managers' Review of Accounting Estimates written by Matthew J. Hayes and published by . This book was released on 2016 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting estimates are developed in a bottom-up fashion; subordinates generate estimates that are reviewed by managers. The anchoring heuristic suggests managers may be highly influenced by subordinates initial estimates. However, motivated reasoning theory predicts that reporting incentives will bias managers review in favor of estimates that are incentive consistent, and managers will selectively attend to information that supports their preferred conclusion, including their perceptions of the subordinate. Using experimental methods I manipulate the consistency of the subordinate estimate with management reporting incentives, and the narcissistic description of the subordinate. Consistent with motivated reasoning theory, I find that managers anchor on incentive consistent subordinate estimates, regardless of subordinate narcissism, but anchor less on incentive inconsistent subordinate estimates, especially when the estimate comes from a narcissistic subordinate. I also find evidence that managers believe narcissistic subordinates act strategically in their own self-interest, and selectively attend to this belief to adjust away from incentive inconsistent subordinate estimates, but not incentive consistent subordinate estimate. My results reveal two potential weaknesses in the management review process: susceptibility to subordinate anchors, and bias created by reporting incentives.
Book Synopsis Management Control Systems and Cross-Cultural Research by : Michael Hanzlick
Download or read book Management Control Systems and Cross-Cultural Research written by Michael Hanzlick and published by BoD – Books on Demand. This book was released on 2015-01-31 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fundamental challenge that management faces in the twenty-first century is how to exercise adequate control, i. e. how to guide and direct the behaviour of their subordinates. With increasing globalisation firms witness a cross-cultural impact too. Of particular interest is the question of whether to use the standardized form of control similar to the home base of firms or whether to adapt their control practices to the local specificities. Given the meagre state of the literature in management control with a cross-cultural emphasis, this study addresses a real world problem, namely the question whether management control practices are configured similarly or differently across cultures. Relying on a generalized industry sample across four countries (Belgium, Canada, Germany and Poland), this study sought to shed light on one of the more intriguing questions – “does culture matter” – for specific control areas, in particular for performance measurement, performance evaluation and reward systems. The theoretical foundations are grounded in the cultural framework of the GLOBE project accompanied by thoughts of new institutionalism, stakeholder theory and contingency thoughts. Hypotheses are tested by mean comparisons (ANOVA, ANCOVA). The empirical findings highlight cultural differences for a broader set of control practices and deliver new insights into the intersection of culture and management control. This dissertation crafts a novel topic with high relevance for both researchers and practitioners. The study demonstrates areas for which management control practices should be adapted to the local needs and areas for which those practices could be harmonized in the whole company. This monograph stresses some areas in which future empirical cross-cultural research can benefit, and some areas where conceptual thoughts could be advanced.
Book Synopsis Psychology Models of Management Accounting by : Joan Luft
Download or read book Psychology Models of Management Accounting written by Joan Luft and published by Now Publishers Inc. This book was released on 2010 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Psychology Models of Management Accounting analyzes the contributions of psychology-based research to explaining patterns in individuals' management accounting related decision-making.
Book Synopsis 21st Century Strategic Management Accounting and Performance Measurement Systems by : Prem Lal Joshi
Download or read book 21st Century Strategic Management Accounting and Performance Measurement Systems written by Prem Lal Joshi and published by I K International Pvt Ltd. This book was released on 2022-10-31 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's economy has suffered like never before first by COVID-19 and then by the Russia-Ukraine war. In such a difficult time, the role of Management Accounting and Performance Measurement Systems increases because the organizations have to quest for alternative cost management practices in order to reduce and control costs and improve profitability. Organizations in the 21st century have been witnessing rapid changes in expanded regulatory requirements and technological advances. These changes also impact accounting, it is essential to understand how Management Accounting and Performance Evaluation Systems are transforming locally and globally in order to reap proper opportunities. Environmental factors and organizational factors are believed to be an underpinning theory for challenges faced by management accountants in the 21st century. Needless to state that the role of Management Accounting and Performance Measurement Systems has been transforming the structure and processes of organizations and its acceptability has increased among internal stakeholders in improving the organizations’ decision-making processes and performance. This important subject has been embracing new avenues taking place both in theory and practice in view of emerging technologies. The usage of data analytics by accountants to support value creation is increasing. As a part of ethical practices and corporate social responsibility (CSR), organizations are obliged to report on incurring their environmental costs for mitigating the effects of pollution, climatic change, waste disposal, energy, and fuel consumption. Transformation in management accounting and control practices, adoption of innovative techniques such as activity-based costing and management, target costing, performance measurement systems, etc. particularly in the context of developing countries need to be researched in the twenty-first century in order to enhance our knowledge base in the context of competitive advantages of Management Accounting. Value-based management (VBM) helps in making decisions that are helpful for the long-term financial performance. Target Costing (TC) enforces the management to transform their ways of thinking regarding the relation between product cost, selling price, and profitability in the organizations. Enterprise Risk Management (ERM) is to prepare a firm-wide strategy to identify and manage overall risks in all operational areas. Justifying investments with the capital budgeting process is of high importance for future growth and profitability for any organization. In this context, the cognitive heuristics and attendant biases that are likely to colour judgments pertaining to the selection and post-audit stages of investment decisions need to be considered.
Book Synopsis Nudging in Management Accounting by : Susanne Rauscher
Download or read book Nudging in Management Accounting written by Susanne Rauscher and published by Springer Nature. This book was released on 2019-10-16 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Susanne Rauscher and Annika Zielke provide an in-depth analysis of the relevance of nudging as a potential solution approach for behavioral issues within the area of Management Accounting. It challenges whether learnings from already successful applications of nudging especially in the social and political context can be transferred to the corporate environment of management accounting. This study contributes to the increasing interest in behavioral economics in the corporate context. Its findings have the potential to impact both academic research and practitioners’ work.
Book Synopsis Maintaining Sustainable Accounting Systems in Small Business by : Carvalho, Luísa Cagica
Download or read book Maintaining Sustainable Accounting Systems in Small Business written by Carvalho, Luísa Cagica and published by IGI Global. This book was released on 2018-06-15 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting systems and sustainability management are vital for company management and performance. This is particularly difficult for small businesses. As such, it is necessary to understand the features and issues of sustainable accounting systems, with a particular focus on small business. Maintaining Sustainable Accounting Systems in Small Business is a critical scholarly resource that explores sustainability accounting systems with small businesses and how the economic, social, and environmental aspects are related to each other in the company’s management and performance. Featuring coverage on a broad range of topics such as management control system, integrated reporting, and small and medium enterprises, this book is geared towards entrepreneurs, business managers, academicians, business professionals, and graduate-level students seeking practical information about the different sustainable accounting systems from strategic, organizational, and accounting perspectives.
Author :Management Association, Information Resources Publisher :IGI Global ISBN 13 :1522592741 Total Pages :2186 pages Book Rating :4.5/5 (225 download)
Book Synopsis Disruptive Technology: Concepts, Methodologies, Tools, and Applications by : Management Association, Information Resources
Download or read book Disruptive Technology: Concepts, Methodologies, Tools, and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2019-07-05 with total page 2186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proliferation of entrepreneurship, technological and business innovations, emerging social trends and lifestyles, employment patterns, and other developments in the global context involve creative destruction that transcends geographic and political boundaries and economic sectors and industries. This creates a need for an interdisciplinary exploration of disruptive technologies, their impacts, and their implications for various stakeholders widely ranging from government agencies to major corporations to consumer groups and individuals. Disruptive Technology: Concepts, Methodologies, Tools, and Applications is a vital reference source that examines innovation, imitation, and creative destruction as critical factors and agents of socio-economic growth and progress in the context of emerging challenges and opportunities for business development and strategic advantage. Highlighting a range of topics such as IT innovation, business strategy, and sustainability, this multi-volume book is ideally designed for entrepreneurs, business executives, business professionals, academicians, and researchers interested in strategic decision making using innovations and competitiveness.
Book Synopsis Judgment and Decision-Making Research in Accounting and Auditing by : Robert H. Ashton
Download or read book Judgment and Decision-Making Research in Accounting and Auditing written by Robert H. Ashton and published by Cambridge University Press. This book was released on 1995-09-29 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely and comprehensive study on behavioural decision-making within the field of accounting.
Download or read book Heuristic Reasoning written by Nico Roos and published by . This book was released on 1991 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis ACCA P5 Advanced Performance Management by : BPP Learning Media
Download or read book ACCA P5 Advanced Performance Management written by BPP Learning Media and published by BPP Learning Media. This book was released on 2016-02-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: BPP Learning Media's status as official ACCA Approved Learning Provider - Content means our ACCA Study Texts and Practice & Revision Kits are reviewed by the ACCA examining team. BPP Learning Media products provide you with the exam focussed material you need for exam success.
Download or read book Meta-Heuristics written by Stefan Voß and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: Meta-Heuristics: Advances and Trends in Local Search Paradigms for Optimizations comprises a carefully refereed selection of extended versions of the best papers presented at the Second Meta-Heuristics Conference (MIC 97). The selected articles describe the most recent developments in theory and applications of meta-heuristics, heuristics for specific problems, and comparative case studies. The book is divided into six parts, grouped mainly by the techniques considered. The extensive first part with twelve papers covers tabu search and its application to a great variety of well-known combinatorial optimization problems (including the resource-constrained project scheduling problem and vehicle routing problems). In the second part we find one paper where tabu search and simulated annealing are investigated comparatively and two papers which consider hybrid methods combining tabu search with genetic algorithms. The third part has four papers on genetic and evolutionary algorithms. Part four arrives at a new paradigm within meta-heuristics. The fifth part studies the behavior of parallel local search algorithms mainly from a tabu search perspective. The final part examines a great variety of additional meta-heuristics topics, including neural networks and variable neighbourhood search as well as guided local search. Furthermore, the integration of meta-heuristics with the branch-and-bound paradigm is investigated.
Book Synopsis Behavioural Aspects that Influence Business Decision-making by Management Accounting Professionals by : Zacharias Enslin
Download or read book Behavioural Aspects that Influence Business Decision-making by Management Accounting Professionals written by Zacharias Enslin and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In their traditional role as 'bean-counters℗þ, 'scorekeepers℗þ and 'controllers℗þ, management accountants were frequently excluded from operational decision-making. Criticism by operational managers about management accountants℗þ decisions-making behaviour included that management accountants preferred evidence-based decisions, as opposed to the intuitive decisions that were regularly required in the business management environment. However, the role of management accounting professionals are changing to that of business partner. The first aspect which the study investigated was whether management accounting professionals experienced an increase in their involvement in business-related decision-making, as suggested by their emerging business partner role. Psychology-related behavioural aspects, which may result in biased decision-making, play a definite role in decision-making behaviour where the use of intuition is required. A review of literature indicated that management accounting professionals were less comfortable with making intuitive decisions. Therefore, they could be particularly susceptible to decision biases related to the influence of behavioural aspects. Accordingly, the second aspect which the study investigated was the susceptibility of management accountants to the main behavioural decision biases related to the use of decision heuristics and the effects of frame dependence. A survey design was employed to investigate decision-making involvement and susceptibility to behavioural biases by means of an electronic questionnaire. Responses were received from an international sample of management accounting professionals, including members of the Institute of Management Accountants (USA) and the Chartered Institute of Management Accountants (UK). The responses were analysed quantitatively, using both univariate and multivariate statistics. The study extends the current body of knowledge by being the first to comprehensively investigate the presence of behavioural biases in the decision-making behaviour of management accounting professionals as a group of decision-makers, which is especially relevant due to their changing decision-making role in organisations. Additionally, contrary to many previous studies in the behavioural decision-making field, the study focused on an international, widely dispersed, sample of professionally employed decision-makers. The study also contributes to the debate on the conflict in findings regarding the prevalence of the changing role of the management accountant. The important findings of the study were as follows: AÌ2℗ʺ Management accounting professionals were involved in making business-related decisions. However, this involvement varied depending on the position in which a management accounting professional was employed, and the size of the company in which the professional was employed. The findings regarding the decision-making involvement of management accounting professionals also indicated that the promulgated business partner role was not as pervasive as suggested by most of the literature. AÌ2℗ʺ Management accounting professionals experienced an increase in business decision-making involvement. This experience was not as widespread as the literature on the business partner role suggests, and was more pronounced for professionals between 30 and 49 years of age, and those more amenable to using their judgement when making decisions. AÌ2℗ʺ Management accounting professionals were susceptible to frame dependence bias. The susceptibility of management accounting professionals to the biases of concurrent decisions framing, the certainty effect and the pseudo-certainty effect was similar to that of other populations. However, these professionals exhibited a lower susceptibility to loss aversion bias. Their susceptibility to mental accounting bias requires further investigation. AÌ2℗ʺ Management accounting professionals were also susceptible to heuristic-based bias. Their susceptibility was similar to that of other populations for the representativeness-related confirmation bias, as well as for the adjustment and anchoring heuristic-related bias. Management accounting professionals exhibited lower susceptibility than other populations to the biases of misconceptions of chance, misconceptions of regression to the mean, general overconfidence, and affect. However, they were more susceptible to overconfidence in performing difficult tasks than other populations. The findings could be of value to the management accounting profession in indicating that educational requirements existed for both the traditional and emerging roles of the management accountant. The study also initiated the research into the susceptibility of management accounting professionals to behavioural biases and paved the way for research and other actions aimed to debias the decision-making behaviour of these professionals.
Book Synopsis Heuristic Reasoning by : H. Allen White
Download or read book Heuristic Reasoning written by H. Allen White and published by . This book was released on 1989 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Advances in Management Accounting by : Chris Akroyd
Download or read book Advances in Management Accounting written by Chris Akroyd and published by Emerald Group Publishing. This book was released on 2023-10-24 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 35 of Advances in Management Accounting features a diverse range of authors from Australia, Canada, New Zealand and the United States of America, focusing on theoretically sound and practical management accounting research which has a cutting-edge and wide-reaching appeal to both academics and practitioners.
Book Synopsis ACCA P5 - Advanced Performance Management - Study Text 2013 by : BPP Learning Media
Download or read book ACCA P5 - Advanced Performance Management - Study Text 2013 written by BPP Learning Media and published by BPP Learning Media. This book was released on 2011-12-15 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: This examiner-reviewed Study Text covers all that you need to know for P5. It features plenty of recent case studies illustrating key syllabus areas and questions to hone your understanding of what you have just read. This paper tests your application of knowledge so these studies and questions are key learning tools. You will also find up-to-date information on the latest management theories and techniques which feature highly in this paper. Then there are plenty of exam tips to guide your study and help you focus on what is essential to know. Now it's up to you.
