Relevance Lost: The Rise and Fall of Management Accounting

Since its initial publication in 1987,Revelance Lost has gone through nine printings,won two major awards from the accounting profession,and had a profound impact on how management accounting systems operate in the 1990s. It has become a manifesto for managers in accounting and control. By exploring the evolution of management accounting in American business from the early textile mills to present-day computer-automated manufacturers,Johnson and Kaplan reveal why modern corporations must make major changes in the way they measure and manage costs. In a world of rapid technological change,vigorous global and domestic competition,and enormous information-processing capabilities,it is critical that managers receive information that is timely,accurate,and relevant.