Papers by Nimnual Visedsun
Economies, Oct 11, 2021
This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY
This chapter provides basic facts concerning Thailand's economy, including GDP by key sectors and... more This chapter provides basic facts concerning Thailand's economy, including GDP by key sectors and foreign direct investment (FDI). It also explores the management accounting practices (MAPs) used in Thailand. This chapter focuses on MAPs implemented by large Thai manufacturing companies. In 1998, IFAC released a report describing the management account evolution. Although the report has enjoyed wide readership in scholarly circles, MAPs have received relatively little attention from businesses. In the present study, a survey questionnaire is used to collect information. Of the questionnaires sent to 1500 companies, 205 were usable, for a 13.67% response rate. The questionnaires sought information about management accounting practices of the companies. The practices were based on the stages of management accounting according to the IFAC evolution model. Here, cluster analysis is used to assign data into four clusters using hierarchical agglomerative methods. Then discriminant analysis is employed to ensure the accuracy of the cluster analysis. We find that respondents rely more on traditional tools and techniques, namely budgeting and controlling for product cost. In addition, we discover that the new advanced MAPs are increasingly being used by many large Thai companies. Although MAPs are used to create value for large Thai companies, they are not being used at the highest stage. Considering that advanced technologies are available and that there are advances in the way business is conducted, the implementation of modern management accounting procedures appears to be far behind.
The long-term financial success of any business depends on whether its prices exceed its costs by... more The long-term financial success of any business depends on whether its prices exceed its costs by enough to finance growth, provide for reinvestment and satisfy shareholders. To achieve a sufficient margin over its costs, target costing has evolved as a standard instrument of cost management. This article presents the potentialities of using target costing strategy in the Thai market. A questionnaire survey is used to identify manufacturing firms in Thailand that have adopted target costing, to explore their approach to implementing it and to identify the success factors behind implementation. It is found that about 50 per cent of respondents practiced target costing as a tool to manage their firms’ targeted profits, and the majority of them implemented target costing for their new-launch products and for redeveloping existing production. The success factors in implementing target costing of these firms in Thailand underline the support of top management as the first key factor, fol...
Polish Journal of Management Studies
Economies
Previous research in the literature often investigated the associations between management accoun... more Previous research in the literature often investigated the associations between management accounting systems and the success of organizations. However, little has been done in regard to the association of business strategies, goals, and firms’ performance while having management accounting tools as mediators. Management accounting systems are classified as traditional and strategic management accounting themes. Each theme, of course, implements different accounting tools. This article explores the degree to which, as mediated by management accounting systems, the business strategies and business goals of large Thai manufacturing companies influence their financial and non-financial performance. To gather the data, a survey questionnaire was developed. Of the 1500 companies selected for inclusion in the survey, 205 provided completed and usable responses for a response rate of 13.67%. Structural equation modeling (SEM) was used to analyze the relationships among the variables. The f...
SSRN Electronic Journal, 2000
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Papers by Nimnual Visedsun