THE NEW TRENDS IN MANAGEMENT CONTROL

Abstract

Since ancient times, management control has been one of the most discussed topics. Its forms varied from one period to another. Currently, a great number of researchers confuse management control with cost control, while others give it the same value as of internal control. There are also a large number of researchers who claim that control is an element of management. We have examined the evolution and distinctive features of the standard-cost method, which is considered the main tool for transforming plans into actions. In order to investigate the situation of management control in the entities listed in the main segment of Bucharest Stock Exchange, we examined the theoretical and pragmatic approaches regarding the relationship between management control and accounting.

Keywords

• standard cost method
• target cost
• descriptive accounting
• prescriptive accounting