Accounting, economics and management—Some comments on accounting as an economic yardstick for management

Accounting, economics and management have an important role in business education but the theories have a poor standing in the business world.

Researchers often cannot test theories in real life. Instead, however, they can look at management at all levels as an experimenting change agent in urgent need of scientifically valid and reliable predictions and feedback. Accounting as the measurement technique for economic transactions has to adapt to that need.

Many conflicts on analytical techniques and evaluations for management purposes are still to be solved. The measurements must not only cover the consequences of decisions at large but also explain the consequences with regard to multi-goal attainment, survival risks, revenue effects, managerial incentives and responsibility etc.