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Accounting As A 21st Century Business Value Driver

Author

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  • Marius Costin Daraban

    (Lucian Blaga University of Sibiu)

Abstract

Companies have focused for decades on maximizing the value creation process of direct productive business activities. The information revolution has left its mark and has started an irreversible transformation of classical business processes and activities. In the new 21st century information and data driven society, commodity is value and knowledge, making Porters value chain concept an important key factor for successful and innovative businesses. Business value creation was during the industrial revolution a topic strictly liked to direct productive activities. The increased and transformed business environment required innovative and sustainable competitive advantages for business organizations. The indirect productive business activities, and the business support services have been considered business value consuming and having no contribution towards the company value chain. 21st century accounting has evolved from the role of record keeper to a business value driver that assures and contributes to the company value chain by using its internal knowledge pool. The existing scientific publications are approaching accounting from different perspectives and support the main conclusion of the paper: accounting, in the 21st century is not a “bean counter” anymore, accounting is a certain and consistent business value driver.

Suggested Citation

  • Marius Costin Daraban, 2017. "Accounting As A 21st Century Business Value Driver," CBU International Conference Proceedings, ISE Research Institute, vol. 5(0), pages 99-105, September.
    • Handle: RePEc:aad:iseicj:v:5:y:2017:i:0:p:99-105
    DOI: 10.12955/cbup.v5.909
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    Cited by:

    1. Marius Costin Daraban, 2018. "Business Value Created By Management Accounting," CBU International Conference Proceedings, ISE Research Institute, vol. 6(0), pages 76-80, September.

    More about this item

    Keywords

    value creationvalue chain; business support services; business value driver; accounting;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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