TAILIEUCHUNG - Comparative Management Accounting – Literature Review on Similarities and Differences Between Management Accounting in Germanic and Anglophone Countries

The second prediction is that “sophisticated” households will make an effort to limit overspending by following a rule that limits borrowing during the pay period. This particular rule has been emphasized in the literature on self-control (Benabou and Tirole, 2004; Thaler and Shefrin, 1981; Thaler, 1999; Benhabib and Bisin, 2004; Loewenstein and O’Donoghue, 2005). In the language of Thaler and Shefrin, this rule is part of a system of “mental accounting,” which makes the future income “account” less accessible than the current account | Comparative Management Accounting - Literature Review on Similarities and Differences Between Management Accounting in Germanic and Anglophone Countries Andreas Hoffjan Professor WHU - Otto Beisheim School of Management Vallendar Pascal Nevries Assistant Professor WHU - Otto Beisheim School of Management Vallendar René Stienemann . cronos billing consulting GmbH Muenster 2 Comparative Management Accounting - Literature Review on Similarities and Differences Between Management Accounting in Germanic and Anglophone Countries This paper compares management accounting practices in Germany the UK and the USA and reveals a range of differences and similarities. The most significant difference is in the use of either the general-ledger concept or the two-circle system. Through following these varying approaches further differences arise . the total lack of imputed costs in the Anglo-Saxon countries and different bases for calculated profits in Germany. German management accounting exerts a stronger influence on management because in the Anglo-Saxon countries financial accounting figures are not regarded as being useful for internal decision making. Thus management in Germany relies much more heavily on internal calculations provided by management accounting. Management accountants in the USA and UK exert a much deeper impact on operational matters and are involved in broader fields of activity than their German counterparts. While Anglo-Saxon management accounting is also directed at shareholders German management accounting is addressed at internal target groups alone. Apart from these differences several important similarities could also be observed. Management accountants in all three countries have reasonably similar objectives and goals. Among the most important are the provision of information participation in the management process and attempts to ensure rational decision making by management. In general a converging approach in management accounting .

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