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The Impact of Accounting Research in Management: Analysis of Past and Future JOURNAL OF CRITICAL REVIEWS ISSN- 2394-5125 VOL 7, ISSUE 10, 2020 The Impact of Accounting Research in Management: Analysis of Past and Future Ms. Smita Barik1, Ms. Namrata Singh2 12Dept. of Management Noida Institute of Engineering and Technology, Greater Noida, Uttar Pradesh Email Id- [email protected], [email protected] Received: 6 February 2020 Revised and Accepted: 21 May 2020 ABSTRACT: The aim of this paper is to investigate the influence of management accounting research on issues associated with this subject, by reviewing the literature and finding some new ways of study. The paper supports both theory and praxis in this way. This actually supports work in the emerging areas of research that has so far been focused mainly on the determinants of effect loss rather than on the essence of the effects of management accounting study and its assessment. It aims to analyze how studies have so far progressed in management accounting with regard to the issue at stake and to suggest at the same time possible avenues for future research. This work also aims to encourage new research focusing on management accounting research instruments or methods for measuring the impact of management research; such instruments may be useful for funding institutions and assessment agencies that may be more equipped to bring out an ex-ante and an ex-post assessment of the influence of management accounting research projects on society. KEYWORDS: Literature Review, Management Accounting, Research Impact, Research Relevance I. INTRODUCTION The discussion on the importance of scientific research has increased considerably in recent years. Academics are under pressure as they are increasingly called upon to show the social effects of their research. This pressure is based on the need for funding agencies and governments to justify the allocation of scientific research resources to demonstrate how scientific research may in fact contribute to improving the economic, social, cultural and environmental conditions of the community or a country[1], [2]. In addition, given the limits of scientific research resources, it is also necessary to make full usage of them to maximize returns to society. Accordingly, students are asked to show their research's potential impact in order to increase their likelihood of being sponsored. In this sense, students have started to address the importance of their work in a variety of disciplines[3], [4]. In some cases, the discussion on importance begins at the outset and is mainly focused on the determinations of its success or on the root causes of its failure to seek solutions to improve the significance of scientific research. In other cases, the controversy has grown and lead to the development of tools to allow a consistent assessment of the effect of scientific research on society[5], [6]. This refers to medical studies that have progressed very quickly in model production, such as the Payback Model, the Canadian Academy of Health Science Impact Structure and the Economic Value of Medical Research, which seek to provide accurate assessment of the impact of science. It should not be understood as "delays" in some people's eyes towards other academic disciplines at different stages of the difficult process leading to the measurement of the impact of scientific research[7], [8]. Instead, it is the result of its key distinctive elements that can have a profound influence on the major issue-solving process of scientific research. When science deals with societal issues, i.e., when a strong relation exists between an objective of research and a perceived need of society or, in general terms, a social issue, it is very quickly activated by the abovementioned problem-raising process and aimed primarily at developing measures that can ensure a reliable evaluation of the impact of research. This is because the closeness of the connection between the object for research and its utility for society is explicit; therefore, it does not have to be discussed and is often an assumption acknowledged. In other words, it is not worth proving that it "deserves," but rather that it should be quantified. On the contrary, academic disciplines such as Social Sciences and Humanities, in the context of, for example, not explicitly linked to the subject of research and the perceived need for a society, demonstrate that there can be an impact or reflect on the causes that have no impact. As a consequence, the problem-setting method for determining impact represents a next step that can be achieved if an effect has already been shown, discussed and 1346 JOURNAL OF CRITICAL REVIEWS ISSN- 2394-5125 VOL 7, ISSUE 10, 2020 acknowledged. The impact of management accounting research is the focus of this paper[9], [10]. The goal of the study is specifically to examine how studies have developed up to now in the management accounting sector in relation to the issue at stake and, simultaneously, to find some potential ways to inform further work. The paper aims to contribute to existing literature through the systematic approach to the impact already studied. On the other hand, the goal is to provide information into how more work can strengthen the difference with other fields in which studies on the effects of technology have reached a higher level of achievement. The paper has been organized accordingly. In the second part, the concept of impact is introduced by exploring the reasons for the study and the interpretation of existing literature. The third section analyzes the state of the art of management accounting analysis in regard to its effect. This seeks in particular to give an overview of the research carried out and to systematize the work published in a specific literature. The fourth section presents some directions that could inform future management accounting analysis, and the fifth, ultimately, gives some concluding observations. 1. Research Impact: Meaning and Origin: In both theory and practice, the growing interest in the influence of scientific research has its origins. As far as theory is concerned, scholars in various fields of research are increasingly aware of the existence of a gap between theory and practice, which has increased over time. This has attracted the attention of many researchers who have conducted a study of the reasons behind this lack of significance and of the approaches they may pursue to reduce the difference, as well as the possibility that this gap could jeopardize the effect on scientific research. At the same time, some specialist publications such as Research Analysis or Scientometrics helped establish academic discussion on the issue and proved that this is a real "hot topic" for its practical implications for the entire society. Besides an interest in science that is triggered by scholars and academic journals, praxis played an essential role in promoting and cultivating a dialogue on the impacts of research. Research-funding agencies are in particular constantly looking for ways of providing accurate assessment of the influence of science research, to demonstrate the results of their financial decisions and to inform future funded policies, on the development of public interest. The European Union has therefore funded and financed many research projects focused on the creation of practical tools to measure the effects of scientific research. The project IMPACT-EV, which was launched in January 2014 and was completed in December 2017 (Note 1) (Evaluation of Impact and Results of the EU SSH Research), was among the most important in the development of the ongoing discovery, tracking and assessments program for the different impacts on social sciences, sciences and humanities of research. In similar terms, the SIMPATIC (Note 2) initiative, initiated in March 2012 and finished in February 2015, aimed at giving policy makers a robust and functional toolbox to allow for a better impact assessment of research and innovation policies in Europe. The project aims at supplying the policymakers with an interconnected and operating toolbox. Another example is the SIAMPI project (Note 3), which began in 2009 and ended in 2011 and includes a Social Impact Assessment methodology for research and funding instruments. The fundamental assumption that SIAMPI is based on is that science and society can be productive in their interaction. In that context, the assessment of the references between researchers and stakeholders in an effort to build together knowledge that is useful to them should include analyzing their intensity and measuring them. These are only a few of the initiatives undertaken to investigate and assess the results of scientific research over the years. The importance of the functions of experience in this matter is demonstrated by the fact that it has been supported by the supporting collaborators of science and at least in principle by end users, direct or indirect. Similarly, it ought to be noted that the practice encouraged studies because National Research Assessment Agencies tend to consider research impact as one of the main qualitative assessment criteria for academic research. In the United Kingdom, the "Research Excellence Framework" (Note 4) (REF) found that 20 percent of the research evaluation activities for 2014 should be based on the effects of research beyond the academic dimension, specifically: "the effect on, change or benefit to the economy, society, culture, public policies and services, health, environmental conditions or the quality of life beyond the academia”. The Standard Assessment Protocol 2015-2021 in the Netherlands (Note 5) stipulates that each research unit must plan a "narrative," which describes the relevance of the work of the research unit to the community and the social effects of that work on added value. This provides important evidence that the method deliberately encourages science research on how it can be concretely analyzed in an effort to analyze academic results more thoroughly. 2. A Study of Management Accounting Impact Research Studies: The controversy on the importance of accounting management analysis has its origins in the seminal work "relevance Lost: the fall and rise of management accounting" by Johnson and Kaplan.
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