Modern management accounting practices in Malaysia’s small medium industries

Abstract

As a result of increasing globalization and liberalization as well as the rapid development of technology, especially information and communications technology (iCT), the Malaysian economy is facing greater challenges. local industries are confronted with more intense competition arising from greater liberalization in line with the emergence of aSeaN Free Trade area (aFTa) and World Trade organization agreements (WTo). The maturing of other developing economies and those in transition will also increase the intensity of global competition for Malaysia. With these, the way businesses are conducted would become more demanding and competition between companies would be more intense. it is anticipated that to enhance their competitive edge, companies will use modern techniques and technologies extensively.