Just bean-counters? : the theoretical versus practical role of a management accountant

Abstract

PURPOSE: The aim of this study is to analyse whether a gap exists between management accounting theory and practice in Malta. This was achieved by approaching practitioners to analyse their opinions on whether the educational course they attended had prepared them enough for the current practices they utilise in management accounting. From their responses, recommendations were provided to suggest ideas to bring theory more in line with practice. DESIGN: Qualitative research was employed to achieve the stated objectives. Semi-structured interviews with industry practitioners were undertaken to obtain knowledge from a variety of sectors. Because the job title of management accountant is not always apparent in Malta, practitioners who perform management accounting functions were identified. FINDINGS: This research indicates that there is a gap between management accounting theory and practice in Malta. Nonetheless, this is understandable given that respondents claimed that educational courses cannot adequately educate students for every eventuality. Furthermore, the respondents felt that the gap arises because educational courses do not contain enough practicality in their curriculum. There were no significant disparities between respondents who qualified from different educational courses since the majority believed that they were well equipped for their roles. CONCLUSION: The findings indicated that management accounting is strongly reliant on prior work experience and the industry in which one operates. However, some recommendations were made in order to bring education and practice closer together. According to the respondents, internships with organisations should be integrated into educational courses as students will start to obtain work experience. Furthermore, respondents stated that students should be examined on more practical case studies. Finally, because everyone involved has high expectations of what they can deliver, a shift in mindsets among students, educators, and practitioners is required. VALUE: This study gives significant information for educators and practitioners to try to change their practice to narrow the gap between management accounting theory and practice. Students will benefit from this since they will be more well-rounded and will know what to expect when they begin their professional experience.