ORGANIZATION OF COST MANAGERIAL ACCOUNTING IN DEVELOPED COUNTRIES AND EXPERIENTIAL LESSONS FOR VIETNAMESE ENTERPRISES IN THE SCENARIO OF PARTICIPATION IN THE NEW GENERATION FREE TRADE AGREEMENTS

Abstract

Organization of cost accounting in enterprises in Vietnam is still relatively new. Cost accounting is not given appropriate attention while companies in developed countries around the world have developed innovative management accounting system which provides useful information for internal administrators in plan development, implementation and evaluation.Vietnam has participatedin several new Free Trade Agreements (FTA), which seem to be broader and more bilateral in comparison with the previously engaged agreements such as Trans-Pacific Strategic Economic Partnership (TPP), Europe - Vietnam Free Trade Agreement (EVFTA), Asean Economic Community (AEC). Once Vietnam has fully and seriously followed the regulations of those agreements, there are not only precious opportunities but aslo potential challenges for Vietnamese enterprises. Therefore, studying models of organizational cost managerial accounting from all parts of the world in order to collect experiential lessons would help business organizations enhance their prompt and comprehensive supply of accounting management information in planning and organizing business and production activities effectively in the new conditions.