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Academic research reports

Executive Summaries of research projects commissioned by CIMA. These reports summarise the project itself and present the key findings and the implications for business practitioners.

  • Purpose to Impact: How accounting and reporting practices pave the path to Sustainable Value Creation

    This study outlines a holistic Purpose to Impact framework to successfully pursue Sustainable Value Creation in the current uncertain times and explores how finance professionals, utilizing the principles and practices of integrated thinking, can support enlightened leaders in steering their organisations to sustainable success.

    Purpose to Impact Report

  • Building and enhancing organisational resilience: Before and after COVID-19

    This project, by a University of Roehampton scholar, seeks to investigate the effect of the pandemic on businesses awareness of organisational resilience. The study is highly relevant at a time businesses are faced with emerging, novel risks and disruptions, such as climate change and associated events. It aims to help management accountants to prepare for forthcoming threats, whether anticipated or unforeseen.

    Building and enhancing organisational resilience

  • Management Accounting for Climate-related Financial Disclosures

    In 2017, the Task Force for Climate Related Financial Disclosures (TCFD) released recommendations to address the need for reliable corporate disclosure of climate-related information. Research undertaken by a team from the RMIT University Melbourne and the University of Tasmania explored how management accountants can contribute to the development of appropriate climate-related scenarios and to better integrate their management accounting expertise into organisational climate change strategy.

    Management Accounting for Climate-related Financial Disclosures

  • The effect of dynamic capabilities on performance and digital business strategy

    This research project investigated the effect of dynamic capabilities (the ability to adapt internal and external competencies in response to rapidly changing environments) on the implementation of an organisation's digital business strategy and on business unit performance within a large German automotive manufacturing company.

    The effect of dynamic capabilities on performance and digital business strategy

  • From digitisation to digital transformation: The role of French and German management accountants in the digital age

    This research undertaken by a team from Essec Business School investigated the work, challenges and roles of French and German management accountants in the digital age. It found that management accountants are strongly engaged in the digitisation of their companies. They also play an important role in the digital transformation through their involvement in data quality, IT system harmonisation, fostering efficiency in budgeting processes and the implementation of self-service reporting tools for managerial decision-making.

    From digitisation to digital transformation

  • Employee Trust: determinants and consequences of employee perceptions of organisational trustworthiness.

    Inspiring trust has been long acknowledged as the key to successful management. Despite the importance of employees’ trust perceptions, relatively little is known about how employees form trust perceptions. A study conducted within a privately owned North American pharmacy reveals that perceptions of the organisation’s benevolence, integrity and ability influence trust perceptions.

    Employee trust report

  • Seven steps to technological innovation: The case of the Australian and Italian wine industry

    This research study by a team from the Universities of South Australia and Brescia, Italy examined digital innovation and project management within the Australian and Italian wine industry. It investigated the drivers, barriers and benefits of technological innovation and the role of management accountants in managing innovation projects. This report outlines seven steps which can lead to successful project management of digital innovation

    Seven steps to technological innovation

  • Accountability patterns and performance measurement in co-producing public services

    Co-production is increasingly used for public service delivery. Although management accounting’s role in co-production has been insufficiently investigated, it is key to supporting decision-making, accountability mechanisms and performance measurement when public services are co-produced.

    Accountability patterns and performance measurement in co-producing public services

  • The impact of predictive forecasting on corporate control.

    A study of two large multi-national companies conducted by a team from Monash University explored to how predictive analytics-based forecasts were used at a corporate level and how they contribute to managing organisations. The study found that predictive forecasts are perceived to be more reliable than bottom-up forecasts but that the companies did not completely eliminate their bottom-up forecasting and used a combination of the two.

    The impact of predictive forecasting on corporate control: a comparison of two multi-national corporations

  • Integrating big data with traditional data : looking to museums for empirical evidence

    Big data and traditional data are often treated as separate matters and used in different spheres. Traditional data are the preserve of accounting whereas big data have become the realm of data analysis experts external to the company or internal managers in functions other than accounting. At the same time big data plays an increasingly important role in decision making. This research undertaken by a team from Politecnico di Milano examines whether big data can be integrated with traditional data and the associated implications for management accounting through a multiple case study conducted within the Italian museum sector.

    Integrating big data with traditional data : looking to museums for empirical evidence

  • The role of corporate culture in the choice of integrated reporting

    Organizational culture plays a crucial role in the journey towards Integrated Thinking and Reporting and is a key driver of corporate reporting choices.

    The role of corporate culture in the choice of integrated reporting

  • Finance business partnering: Design principles to orchestrate value

    Finance business partners are being deployed in increasingly uncertain business environments. Research undertaken by a team from Manchester University explores what their role entails and how it creates value within an organisation. By bringing together diverse viewpoints from across the business, finance business partners can act as ‘knowledge orchestrators’ who provide strategic oversight and leadership.

    Finance business partnering: Design principles to orchestrate value

  • Proxy Advisory Firms: Information intermediaries or standard setters?

    Proxy advisers (PAs) are companies that advise and provide voting recommendations on a range of issues, including board composition, takeovers and acquisitions, and executive compensation. This report outlines the findings of a research study which investigated how internal stakeholders, (i.e., board directors, HR executives and compensation consultants) who are responsible for executive compensation design, view PAs and their influence.

    Proxy Advisory Firms: Information intermediaries or standard setters?

  • Accounting for the climate horizon: A study of TCFD implementation

    Climate change presents an emerging, but also rapidly evolving challenge for the global community of accounting practitioners, academics and standard setters and the Market is increasingly concerned about the physical, liability and transition risks arising from climate change.

    Accounting for the climate horizon: A study of TCFD implementation

  • An exploration of the implementation and usefulness of environmental management accounting

    This paper reports on the findings of an exploratory study on the usefulness and implementation of EMA practices in Australia and Sri Lanka. By investigating the similarities and differences between actual EMA practices and their implementation in both a developed and developing country, this study finds insightful outcomes relating to EMA implementation and its drivers and barriers within companies in both countries.

    An exploration of the implementation and usefulness of environmental management accounting

  • Natural Capital Accounting: revisiting the elephant in the boardroom

    This research study examines the practices of one of the first major organisations to implement and utilise Natural Capital Accounting (NCA), Forestry Enterprises England. I It aims to better understand how NCA assists with increasing stewardship, what other roles NCA assumes and the challenges faced in its use.

    Natural Capital Accounting: revisiting the elephant in the boardroom

  • Is the Stewardship Code fit for purpose?

    This research study seeks to understand the nature of engagement and stewardship as practiced in major UK-based asset management firms with long-term shareholdings.

    Stewardship Code Research Report

  • Discharging democratic accountability: The role of strategy and performance information in local authority Health and Wellbeing Boards

    Local UK Health and Wellbeing Boards (HWB’s), were established as a means of addressing health inequalities across society and of improving democratic accountability for health outcomes. This study investigated how public health and social care leaders construct and discharge accountability through their membership of and roles in Health and Wellbeing Boards (HWBs) through their use of strategic planning and performance information.

    Discharging democratic accountability: The role of strategy and performance information in local authority Health and Wellbeing Boards

  • Management control systems in UK innovation companies

    This study explores the use of management control systems in innovative companies. The extent to which innovation companies’ characteristics influence the intensity of use of the four management control system categories (Results, Action, Personnel and Cultural) and their impact on company success is investigated.

    Management control systems in UK innovation companies

  • Post-Qualification Progression of Accountants

    This study proposes that accountants aspiring to progress into management positions within organisations need to focus on further developing certain intellectual, non-traditional accounting, personal, interpersonal and business skills.

    Post-Qualification Progression of Accountants

  • Local government financial resilience (Germany, Italy and UK compared)

    This report increases our understanding of local government financial resilience by presenting the results of a survey of local government financial resilience by presenting the results of a survey of local governments across Italy, the UK and Germany.

    Local government financial resilience (Germany, Italy and UK compared)

  • Value creation, CEO incentives and remuneration: evidence from integrated reporting adopters

    This study is motivated by the growing importance of Integrated Reporting as an innovative reporting initiative to foster representation of sustainable value creation over time.

    Value creation, CEO incentives and remuneration: evidence from integrated reporting adopters

  • Using management control systems to balance accuracy, immediacy and innovation in a news organisation

    Using a case study of a news organisation, this project investigates how management control systems are used to assist an organisation balance the seeming tensions between accuracy in its news content, the need to ‘break’ stories as soon as possible, and the need to be innovative in the creation and delivery of news content.

    Using management control systems to balance accuracy, immediacy and innovation in a news organisation

  • Targets for routine tasks affect performance of creative tasks

    Our experimental results demonstrate that providing both input and output targets for routine tasks leads to greater creative task performance relative to providing only one of these or no target.

    Targets for routine tasks affect performance of creative tasks

  • An evaluation of Global Management Accounting Principles in the sustainability of a mechanised piggery

    The aim of this study was to evaluate the relevance of Global Management Accounting Principles (GMAPs) in the sustainability of a mechanised piggery in a South African context.

    An evaluation of Global Management Accounting Principles in the sustainability of a mechanised piggery

  • The accountability and management control of CSR foundations (CSRFs) in Mauritius

    In spite of their relative size and financial clout worldwide, very little is known about the modes of operation, monitoring and accountability of corporate foundations (CFs) in developed or developing countries. In Mauritius these are known as CSR Foundations (CSRFs).

    The accountability and management control of CSRFs in Mauritius

  • Impact assessment in a non-government organisation

    This project was conducted in a large development NGO to understand the challenges associated with assessing impact at both a programme and organisational level.

    Impact assessment in a non-government organisation

  • Integrated thinking

    Align purpose and the business model to market opportunities and sustainable performance. Find out how the finance organisation helps understand, enhance, and report strategies for long-term value creation.

    Integrated thinking

  • Risk management in the banking sector

    The involvement of management accountants in risk management and how the degree of this involvement is influenced by their personality traits.

    Risk management in the banking sector

  • Dealing with the unknown

    Leading in uncertain times by rethinking the design of management accounting and reporting systems.

    Dealing with the unknown

  • Value chain financing in agriculture: the case of Zambia

    Smallholder farmers in Zambia comprise 85% of the farming community. This study investigated and documented three independent case studies representing practical examples of value chain financing (VCF) applied within the Zambian smallholder agricultural sector.

    Value chain financing in agriculture: the case of Zambia

  • The role of management accounting in servitisation

    Exploring the potential role of management accounting in servitising manufacturing companies, where services are increasingly offered alongside physical products.

    The role of management accounting in servitisation

  • Early evidence on the economic consequences associated with integrated report quality

    We examine whether integrated report quality (IRQ) is associated with stock liquidity, firm value, expected future cash flow, and cost of capital.

    Early evidence on the economic consequences associated with integrated report quality

  • Management control systems in public networks

    Management Control Systems in Public Networks

    Management Control Systems in Public Networks

  • Financial crisis and changes in management controls in banks

    Financial crisis and changes in management controls in banks

    Financial crisis and management control in banks

  • Governmental financial resilience under austerity: English local authorities

    Governmental financial resilience under austerity: English local authorities

    Governmental financial resilience under austerity: English local authorities

Latest reports

 All academic research reports by topic

Budgeting and planning

Enterprise risk management and budgetary control: a management challenge 2011
Budgeting practice and organisational structure 2010
Managerial judgement and strategic investment decisions 2008
Re-inventing budgeting: the impact of third-way modernisation on local government budgeting 2006
Interest rate risk management 2005

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Changes in the accounting function

IPOs, organisational and management accounting change in listed Chinese state-owned enterprises 2014
Risk manager or risqué manager? 2010
A comparative investigation into the diffusion of management accounting innovations in the UK, Australia and New Zealand 2009
Management accountants: a profession dramatically changed by ERP system 2008
Contemporary management accounting practices in UK manufacturing  2005

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Governance

Financial crisis and changes in management controls in banks
 2016
Collaboration and control: managing tensions in competitive interorganisational relationships 2011
Financial management in the governance of with-profits UK life insurers 2009

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MA in different sectors

The role of management accounting in new product design and development decisions 2011
Activity based costing in China 2011
Control of top management teams in Spanish hospitals 2011

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Management and financial accounting

 Incentives, accountability and myopic decision making: a neuroscientific investigation 2015
Management accounting in support of the strategic management process 2015
The effects of cloud technology on management accounting 2015
Management accounting practices of UK SMEs 2013
Professional identity of management accountants: leadership in changing environments 2012

Drivers of risk management

2011
Integrating risk and performance in management reporting 2011
Formal and informal feedback in management accounting 2010
Creating and popularising a global management accounting idea: the balanced scorecard 2010
Tools to manage reverse logistics 2010
Experiencing change in German controlling: management accounting in a globalising world 2010
Integrating management accounting systems in mergers and acquisitions 2010
Don't blame the tools: the adoption and implementation of managerial innovations 2008
The effect of intrinsic and extrinsic rewards on the perceptions of middle level managers 2008
Time estimates as cost drivers  2008
 Designing value and valuing design 2006
Barriers and catalysts to sound financial systems in small-sized enterprises 2004
Identifying best practice integrated design and management accounting processes 2004
Implementing the EVA business philosophy: management accounting evidence from New Zealand 2003

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Organisational management

Risk culture in financial organisations 2013
Managing inter-firm interdependencies in R&D investment: Insights from the semiconductor industry 2012
Management controls in automotive international joint ventures involving Chinese parent companies 2011
Project portfolio management in turbulent times 2011
Reporting and managing risk 2010
Human resource policies, accounting and organisational performance 2010
Interventionist management accounting research: lessons learned 2010
The use of activity-based planning (ABP) in the UK Crown Prosecution Service 2006
Accounting for new organisational forms: the case of subcontracting and outsourcing 2005
Intelligent internet agents for business management and accounting 2005
Pursuing shareholder value: implications for human resource management 2005

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Public sector

Financial performance of state owned enterprises in emerging economies 2012
Assessing the effectiveness of NHS budgeting 2011
Costing in the NHS 2010
Performance management and metric manipulation in the public sector 2009
The balancing act in hospital performance measurement 2009
Costs, care and rationing 2006
Annuality in public budgeting: an exploratory study 2005
The private finance initiative in the NHS 2004
Cost variability in healthcare 2003

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Sustainability and ethics

Management control for sustainability strategy 2011
Strategic responses to global climate change: a UK analysis 2011
Sustainability and the role of the management accountant 2011
Sustainability performance management: how CFOs can unlock value 2011
UK Bribery Act: seminar, survey and guidance 2011
Westpac’s squashed tomato strategy 2010
Accounting for ethical, social, environmental and economic issues 2006
Emissions trading and the management accountant 2006