ABSTRACT
This chapter provides an extensive review of the traditional versus new dimension of management accounting practices (MAP), followed by a detailed discussion of the evolution of MAP in the context of Thailand. It focuses on the new management accounting techniques that Thai firms should adopt to be at par with their counterparts in the ASEAN nations. In the case of Thailand, the use of environmental management accounting to account for the environmental costs has so far been a low priority. This is attributed to a lack of knowledge as well as a lack of skills in adopting management accounting techniques beyond the traditional approach by Thai firms. The concept of traditional and modern management accounting has been discussed extensively in Thailand. In theory there are two types of management accounting concepts: traditional management accounting, that is, with a financial orientation, and contemporary or advanced management accounting, focusing more on strategy formulation and implementation.
