Nandan (2010) states that training and management experience in management
accounting information, techniques, and systems are important to better managing
scarce resources and enhancing owner/manager values. Gaidienė & Skyrius (2006)
investigated the role and usefulness of management accounting information as
perceived by managers. The results showed that managers perceived management
accounting information as useful, higher even than accountants did. Collis & Jarvis
(2002) suggested that the management of small private companies are aware that
cash control was important to company survival. Pierce & O‟Dea (2003) studied the
perceptions of managers regarding the usefulness of current information, desirable
changes to information, and the role of the management accountant. They found that
improved management accounting information can only come about through a
convergence of the perceptions of management accountants and managers regarding
the nature, timing, and format of the information required, thereby increasing its
usefulness or organizational validity.