The Impact of the use of Modern Management Accounting Techniques to Streamline Decision Making in the Jordanian Industrial Companies

With the help of management accounting techniques, the companies can get accurate data, figures of their financial analysis, which can be fruitful in decision making and planning to achieve any set objectives. So, it means that role of management accounting techniques is crucial for the long term success of companies.

The objective, purpose, motivation and significance of the Study

            In this particular research study, the objective is to identify that what impact is made by the management accounting techniques in terms of justifying the decision making process for the Jordanian industrial companies. The study is motivated by the purpose of analyzing that how management accounting techniques can be instrumental for the companies to make viable decisions, and how those decisions are justified. The research is significant as it is a fact that management accounting techniques can be crucial for the success of a company, so management accountants and financial experts can see the important role of management accounting techniques. This study will be beneficial for the industry experts to understand the positives or negatives, which are associated with management accounting techniques.

The methodology and tools of the Analysis of The Impact of the use of Modern Management Accounting Techniques to Streamline Decision Making in the Jordanian Industrial Companies

            Every research study comes with certain research methodology and tools of analysis so that trustworthy results can be obtained. For this research study, the researcher has used descriptive research method. The descriptive analytical tools will be used to analyze the different aspects of the study. The questionnaire will be used to collect data from the respondents of this study. To ensure data collection along with validity and reliability, the researcher has used Likert scale scores, and five gradients will be part of it. To analyze the collected data, SPSS data analysis tool will be used to get results.

A brief discussion and critical analysis of the Results of The Impact of the use of Modern Management Accounting Techniques to Streamline Decision Making in the Jordanian Industrial Companies

            The researcher has to choose that what theoretical framework he would select to conduct the analysis of this study. The researcher chose three concepts from the management accounting techniques; the first one was target costing, the second one was production system in time, and the third one was balanced scorecard. All off the three frameworks were analyzed with relevant aspects of the study. Then decision making is also focused to understand that what to do and what to avoid in certain situations. Then after collecting the data, data analysis was done with hypothesis testing. The results of the study showed that target costing helped the companies to justify their decision making process, which means that target costing and decision making are positively correlated. The results also revealed that in justifying their decisions, the balanced scorecard role is also important and validated. Same positive relation between decision making and just in time production system was also validated after the statistical analysis. All of the three techniques are modern management accounting methods, and they validated that their role in decision making is positive, and it helps to achieve set objectives for the companies.

The concluding remarks and the direction forward of The Impact of the use of Modern Management Accounting Techniques to Streamline Decision Making in the Jordanian Industrial Companies

            The study clearly shows that when companies want to achieve certain set goals or want to make viable decisions for their future strategy, the accounting management techniques can help them in so many different ways. The direction forward for other researchers is to explore more aspects of management accounting methods by analyzing that which methods can be useful for which companies, and in which given circumstances (Al-Sayyed, 2015)

Reference of The Impact of the use of Modern Management Accounting Techniques to Streamline Decision Making in the Jordanian Industrial Companies

Al-Sayyed, D. S. (2015). The Impact of the use of Modern Management Accounting Techniques to Streamline Decision-Making in the Jordanian Industrial Companies. European Journal of Business and Management , 7 (10), 260-270.