The development and application of strategic management accounting in the hospitality industry

Abstract

This study was conducted to evaluate the role of strategic management accounting in the world's hotel industry and the current state of information needs of administrators in Vietnam. A total of 61 hotel businesses in Vietnam were selected as sample subjects and data were collected. The study has shown that research on strategic management accounting is spreading around the world and has many benefits in the hotel sector, characterized by fierce competition. In addition, through the current state of the research, the research results also show that the level of strategic management accounting being applied is still very modest in Vietnam, however, there is a need for information for managers about the type of information quality. Because strategic management accounting is quite high, it shows that in the future, there needs to be solutions to increase the application of this modern management accounting tool in practice.