Original Research

The changing role of management accounting systems towards value creation

Edita Gimžauskienė, Loreta Valančienė
Journal of Economic and Financial Sciences | Vol 2, No 1 | a357 | DOI: https://doi.org/10.4102/jef.v2i1.357 | © 2018 Edita Gimžauskienė, Loreta Valančienė | This work is licensed under CC Attribution 4.0
Submitted: 01 July 2018 | Published: 30 April 2008

About the author(s)

Edita Gimžauskienė, Kaunas University of Technology, Lithuania
Loreta Valančienė, Kaunas University of Technology, Lithuania

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Value concepts with a multi-stakeholder approach in the management accounting field are the subject of recent interest. The most popular management accounting conceptions, namely, activity-based costing (management) and balanced scorecard, reveal how the changed management accounting role integrates a focus on three key stakeholder groups: employees, customers and shareholders. Built on previous management accounting studies, this article explores when the management accounting system ensures value creation. The relationship between value creation and the management accounting system were disclosed using the multistakeholder theoretical approach. Research methods adopted in this study are empirical survey and empirical field study. The implementation level of modern management accounting conceptions was analysed using quantitative data (survey). Deeper analysis was performed in a Lithuanian organisation disclosing relationships between value creation and the implementation level of management accounting conceptions (case study). The results of the research revealed that modern management accounting conceptions might be a precondition for the changing role of management accounting but it depends on the implementation level and the organisation’s ability to manage all capacities of these conceptions.


management accounting system; value-based management; value creation; balanced scorecard; activity-based costing


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