Current Trends in Cost and Management Accounting Practices in Bangladesh.
DOI:
https://doi.org/10.54536/jpp.v3i1.4099Keywords:
Activity-Based Costing, Bangladesh, Cost Management Accounting, Costing Techniques, Kaizen Costing, Target CostingAbstract
Effective financial management in businesses depends on cost and management accounting (CMA), which offers critical insights that influence resource allocation, strategic decision-making, and overall company success. The development of CMA practices has grown in importance in Bangladesh’s quickly evolving economy. The use of contemporary methods like Activity-Based Costing (ABC), Target Costing, and Kaizen Costing—which improve operational efficiency and allow for more precise overhead allocation—is one of the developments in CMA practices that are examined in this paper. However, because of a lack of resources and experience, small and medium-sized businesses (SMEs) in Bangladesh frequently use traditional costing techniques. Cost management in Bangladesh has changed as a result of the incorporation of technology into CMA procedures, which has made automation and real-time financial analysis possible. However, obstacles including restricted access to qualified specialists and ongoing regulatory concerns still exist. This literature assessment emphasizes how crucial CMA is becoming to sustainability accounting and strategic decision-making, especially in industries focused on exports. According to research, effective CMA procedures increase Bangladeshi enterprises’ profitability, operational effectiveness, and competitiveness. The ultimate goal is to place Bangladeshi companies competitively in the global market by promoting contemporary CMA methodologies, improving training and technology use, and supporting sustainable practices.
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