For an interesting perspective on the historical development of cost and management accounting, refer to Johnson (1987), Johnson and Kaplan (1987). For a more recent reference see also Kannaiah (2015). Most accounting systems have major shortcomings when it comes to providing management with high-quality information. For one of the early and still one of the best overviews of the limitations of accounting systems in today’s competitive environment, see Kaplan (1984); see also Boer and Jeter (1993). Worth reading in this relation is also Fischer (2016).