e-journal
Management accounting practices and the turnaround process
Purpose – The paper aims to provide a longitudinal view of successful turnaround phases and of
how management accounting practices played a significant role in improving performance in
one company.
Design/methodology/approach – The company provided internal documents to cover the period of
the study and permitted access to key individuals who were able to elaborate and clarify the motives
which underpinned the numbers reported and the strategies employed.
Findings – The success of the corporate turnaround appeared to be attributable to an effective
leadership style that was able to motivate and support the employees whilst making strategic changes
to the organization’s capital, financial well-being and operations.
Originality/value – Recognition of the key factors in the turnaround process has implications for the
implementation of corporate recovery strategies elsewhere.
Keywords Turnarounds, Corporate recovery, Management accounting, Companies, Managers,Accounting
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