Management accounting practices and the turnaround process

Purpose – The paper aims to provide a longitudinal view of successful turnaround phases and of how management accounting practices played a significant role in improving performance in one company. Design/methodology/approach – The company provided internal documents to cover the period of the study...

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Bibliographic Details
Published inAsian review of accounting Vol. 21; no. 2; pp. 100 - 112
Main Authors Hasniza Haron, Noor, Kamal Abdul Rahman, Ibrahim, Smith, Malcolm
Format Journal Article
LanguageEnglish
Published Bingley Emerald Group Publishing Limited 12.07.2013
Subjects
Accounting & Finance
Accounting procedures
Accounting/accountancy
Competition
Management accounting
Profitability
Social responsibility
Studies
Success factors
Turnaround management
Value creation
Asia
Management accounting
Corporate recovery
Managers
Accounting
Turnarounds
Companies
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Summary:Purpose – The paper aims to provide a longitudinal view of successful turnaround phases and of how management accounting practices played a significant role in improving performance in one company. Design/methodology/approach – The company provided internal documents to cover the period of the study and permitted access to key individuals who were able to elaborate and clarify the motives which underpinned the numbers reported and the strategies employed. Findings – The success of the corporate turnaround appeared to be attributable to an effective leadership style that was able to motivate and support the employees whilst making strategic changes to the organization's capital, financial well-being and operations. Originality/value – Recognition of the key factors in the turnaround process has implications for the implementation of corporate recovery strategies elsewhere.
ISSN:1321-7348
1758-8863
DOI:10.1108/ARA-01-2012-0001