Management Accounting System Case Study

History of management accounting system
Cost effectiveness and efficiency is highly related to the overall performance of a company business (Dearden, 1963). In fact, the most reliable cost information tool is called costing system. If the company has better managerial decision-making, the company will have a greater business performance. The data in income statement and balance sheet are being captured and focused by ABC system (Roztocki & Needy, 1999b). Economic Value Added is including in the ABC system in order to have high accuracy of cost information. Hence, the integration of ABC and EVA is being successfully implemented in the manufacturing sector (Roztocki, 2000).
Since there are many service companies also experiencing high overhead

Hence, the ABC has a little impact on time, a significant impact on quality, and a substantial impact on cost (Gering, 1999).
Difficulties and challenges
The main problem that are always facing by the service company in selecting ABC system is the willingness of the top manager. They think that ABC system requires high implementing cost and time consuming (Ashford C. Chea, 2011). For example, they consider about the adoption time of all staff towards the new accounting system and the development cost of the new system.
In addition, it is important to evaluate the scope of and the role for the ABC system if the implementation is to be successful (Clarke and Tracy, 2001). Since the complexity of ABC system often fail to meet management requirements like the vast number of activities, cost elements and cost driver, services. Performance-focused ABC system is requires addressing the shortcoming of ABC in the service sector such as 1) performance control, 2) to solve problems associated with traditional ABC, and 3) to further extend the effect of conventional

Genting Malaysia has over 60,000 of employees, 246,000 hectares and 4,500 hectares of plantation land and prime resort land. (Genting, 2015)
However, Genting Berhad and its subsidiaries, and comprises the following four listed entities which are Genting Malaysia Berhad, Genting Plantations Berhad, Genting Berhad, and Genting Singapore PLC, all are under the collective name of Genting Group with a combined market capitalization of about RM109 billion in April of 2015. (Genting, 2015)
Tan Sri (DR.) Lim Goh Tong, he is the founder of the Genting group with his innovative idea and courage in developing the first Genting Highlands Resort which located at the top of the mountain and 58 kilometer from Kuala Lumpur in Malaysia. Genting highlands Resort is now one of the world’s leading integrated entertainment resort, attracting 18.1 million visitors in 2014. (Genting, 2015) His innovation and commitment to excellence can be seen by the growing sign of Genting group and yet the premier global brand name is one of the greatest