The Contribution of Managerial Accounting Tools to the Operation of Businesses: Case Study of BIOKARPET S.A.

Abstract

The purpose of this article is, through the process of qualitative research method, that of interviews, to gather and analyze the views of managers and other senior executives of businesses on the importance of the utilization and implementation of managerial accounting tools in their business. The article provides some time-honored definitions of managerial accounting, and provides extensive discussion of selected managerial accounting tools, with particular emphasis on the overall benefits of their use in the operation of the business. Through 26 highly targeted and selected interviews, the necessity of using managerial accounting tools is illustrated, as well as their role in achieving business objectives. The results of the research, based on a case study of the Greek business group BIOKARPET S.A., highlight the importance of the contribution of these tools in the collection and decoding of information used in the decision-making process of this company and, by extension, of Greek companies. In addition, through the results of the case study, the difficulties that arise during the use of these tools and the deterrent factors of their application are also highlighted. In conclusion, the interviewees present the benefits as well as the way in which the specific tools effectively support the objectives of enterprises.