ABSTRACT
The last few decades have witnessed an ever expanding basis of knowledge for the design of effective management accounting systems. New areas of expertise have continually provided new insights, opportunities and challenges to the conventional approaches. Perspectives drawn from economic theory have provided a sound basis far selecting information relevant for decision making and the application of mathematical skills has added to our potential for rigorously analysing complex problems. Moreover the advances in computer technology have ensured the means for providing speedy information to the managers who need it. At least in philosophy, therefore, accounting for management needs no longer be seen as merely a reckoning of post events but as a function which has a vital and positive role in encouraging managers to learn from their past experiences and to anticipate the contingencies of their uncertain tasks.
