Reflective Report

Reflective Report



Reflective Report

Impact of globalization and the internal convergence of Management accounting processes

Introduction

I have made this reflective report based on Impact of globalization and the internal convergence of management accounting processes. Main focus I am going to make in this reflective paper will be on internet, as internet is the main source of globalization. I will discuss about the impact of internet technology on the management accounting processes.

Internet has greatly enhances the process of the Accounting system and made the processes more smooth as compared to the years before. From the standpoint of Accounting Management, the question to address is whether the traditional accounting systems provide relevant information for decision-making in the new context. If not, the need to proceed with revision or adaptation of traditional formulas. In the event that it proves to be insufficient should consider a change in the philosophy of management accounting systems in order to that are truly effective and know to respond to new information needs to be pose (Benjamin, Wigand, 1995, 62-71).

Investigative Study module

While I was investigating my study about the topic I learn many new aspects about the impact of globalization and the change due to internet on management accounting.

The information technology has emerged as one of the most effective innovations in recent decades, contributing significantly to the generation of competitive advantages. In the so-called information society, intellectual capital and knowledge workers have replaced manual labor and natural resources (wood, coal, oil, energy electric, nuclear), dominated since the industrial revolution, as the main sources developing competitive advantages.

Internet in Business Accounting Management

Internet has increased the power of owners to access multiple offers, and in ultimately to decide which aspect is more evident as learning occurs from individual organizations. A better understanding of customer needs opens the possibility to ...