The Role of Managerial Accounting Information Affecting Balanced
Scorecard Effectiveness
SUKRITA RAKSUDJADRIT1, JENTA KAEWFAI1, NANTHARAT NAMBURI1,
SIRICHAI NAMBURI2, WARAWUT WARANANTAKUL3, PIYANAT THUNPUTTADOM4
1Faculty of Management Sciences,
Yala Rajabhat University, 133 Tessaban Road 3,
Sateng Subdistrict, Mueang District, Yala Province, 95000,
THAILAND
2Faculty of Science Technology and Agriculture,
Yala Rajabhat University, 133 Tessaban Road 3,
Sateng Subdistrict, Mueang District, Yala Province, 95000
THAILAND
3Independent Scholar,
129/2 Sateng Nok Subdistrict, Mueang District, Yala Province, 95000,
THAILAND
4Faculty of Humanities and Social Sciences,
Rajamangala University of Technology Tawan-OK,
Bangpra Campus, Sriracha, Chon Buri,
THAILAND
Abstract: - Business organization management for competitive achievement under the changing situations
today has to rely on the executives' competence. However, the crucial factor is not only competence but also an
accurate and reliable managerial instrument. Therefore, Managerial Accounting Information is taken into
consideration since it is an instrument that enhances executives to plan, control, and make a decision
accurately. Hence, this research emphasizes studying the role of Managerial Accounting Information and other
factors affecting the balanced scorecard effectiveness. The study uses a quantitative method for data collection
derived from the executives' group managing the residential business. The samples were 109 executives. The
instrument used was a questionnaire. The data analysis was Structural Equation Modeling (SEM). The research
result revealed that other factors involved have to pass the use of Managerial Accounting Information. It helps
lead to balanced scorecard effectiveness well. The significance rearrangement is as follows: Corporate Strategy
(CO), Job-Relevant Information (JRI), and Executive Features (EF). These results indicate that Managerial
Accounting Information takes a crucial role in being used as an instrument to achieve the effectiveness of
organizational management. However, if any organization realizes the significance of such factors, it can use
the Managerial Accounting Information for operating efficiently and develop the organization to achieve the
sustainability of competitive achievement.
Key-Words: - Managerial Accounting Information, Corporate Strategy, Job-Relevant Information, Executive
Features, Balanced Scorecard Effectiveness
Received: January 1, 2023. Revised: September 23, 2023. Accepted: October 1, 2023. Published: October 13, 2023.
1 Introduction
The situation of the world economy today tends to
slow down broadly due to the Coronavirus
Pandemic. There are infected people high up to 55.3
million people, [1]. The public organizations of each
country have to issue various measures of
prevention. One of them is the lockdown measure.
This measure has damaged the economic system
numerously. According to the analysis result of the
economists, the lockdown measure affects the
global economy at a minimum of 2.4% of the Gross
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DOI: 10.37394/23207.2023.20.194
Sukrita Raksudjadrit, Jenta Kaewfai,
Nantharat Namburi, Sirichai Namburi,
Warawut Waranantakul, Piyanat Thunputtadom
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Domestic Product (GDP), or 86.6 trillion dollars in
2019, [2]. The world population has to encounter
poor conditions up to 70-100 million people, [3],
because of numerous businesses closure. In
Thailand, the economic system is affected by the
Gross Domestic Product reduced by 5%, [4], and the
business sector closed down to 3,876 corporates
during the first four months of 2020. The closure of
businesses affects the labor sector for 14.5 million
people, [5]. From the situations mentioned above,
the economy has been influenced severely. Hence,
business executives are considered knowledgeable
persons in management. Furthermore, they have the
authority of decision-making, based on their
reliability, to bring their corporates to survive in any
situation. However, only the competence of the
executives is still insufficient. It is necessary to rely
on various strategies as an instrument for doing the
plan, controlling, and evaluating. Such an effective
instrument selected is called Managerial Accounting
Information, crucial for management, supervision,
and characteristics. It is concerned with useful
accounting information, concordant with the needs
of authorities, who are authorized to decide on the
organization, [6]. Researchers have tried to apply
and improve managerial accounting to be more
contemporary to keep up with the changing
situations today, [7], [8]. To use information
efficiently, other involved factors are essential. It is
considered from the research result indicates that
when executives use the correct and complete Job-
Relevant Information as an instrument to support
the use of Managerial Accounting Information, it
will directly affect the effectiveness of management
well, [9], [10]. Besides, such Managerial
Accounting Information should be linked with the
Corporate Strategy to increase the operation result
better, [11], [12]. Moreover, the discovery of, [13],
revealed that Executive Features and Corporate
Strategy affect the need of using Managerial
Accounting Information that enhances financial
effectiveness. Such research issue covers Job-
Relevant Information and Corporate Strategy. It is
an issue under the Contingency Theory according to
the concept of, [14], also Executive Features, which
covers the test of relationship with several variables
of the Managerial Accounting Information, or to
develop the test about factors affecting the
application of Managerial Accounting Information,
[12]. Hence, this research is the study of factors
involved with the application of Managerial
Accounting Information under the Contingency
Theory. Besides, it focuses on the confirmation of
the balanced scorecard effectiveness of the
organization called the configuration, [8]. The
research in such form still has quite a few. This
issue includes how the study of roles on the
Managerial Accounting Information affects the
Balanced Scorecard Effectiveness, and what factors
push up the executives to use Managerial
Accounting Information with having the Balanced
Scorecard Effectiveness of the organization, to bring
about executives' vocational use or application,
which helps support the business to reach the
sustainability of competitive achievement and
survival, in the rapidly changing situations.
2 Literature Review
In, [15], the author emphasizes financial and non-
financial measurement. It depends on the principle
of Balanced Scorecard Effectiveness (BSC). In,
[16], the authors found that satisfaction with
performance and the administrators' perception has a
positive relationship with the operational measure
and Corporate Strategy. In, [17], the authors also
found that Executive Features in terms of
motivation affect the strategy formulation that leads
to Balanced Scorecard Effectiveness. It indicates
that the management system should be obtained in
the future to effect improvement, especially the
financial motivation. Furthermore, in, [18], the
authors found that the Seniority of the executives
has a relationship with the effectiveness of strategic
performance. Moreover, [19], viewed that the
quality of executives has a good effect on the
strategy formulation to construct the secure
performance result in the organization's growth
stage. In, [20], the authors also revealed that the
executives' intention affects the strategies which
acquire efficient accounting availability. Hence,
Hypothesis 1 can be inferred as Executive Features
Affect Corporate Strategy. According to, [21], Job-
Relevant Information is usually useful for
executives. If the uncertainty situations of the work
are low, the executives will not consider the
perception level of job-relevant Information more
will relate to the loss of management result. The
executive accountants will benefit from the analysis
of business strategy by using the related and
comprehensive information which is various in the
organization to measure the effectiveness. Such
related information will lead to the strategy
formulation for reaching a great decision, [22].
Besides, when the executives use the correct Job-
Relevant Information as a tool to support the
strategy formulation of the Managerial Accounting
Information use, it will affect the management
effectiveness well, [9]. Therefore, Hypothesis 2 can
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DOI: 10.37394/23207.2023.20.194
Sukrita Raksudjadrit, Jenta Kaewfai,
Nantharat Namburi, Sirichai Namburi,
Warawut Waranantakul, Piyanat Thunputtadom
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be inferred as Job-Relevant Information Affects
Corporate Strategy.
In, [8], the authors support the strategic proposal
and alternative structures associated with the
effectiveness level of the organization's performance
that the organization's financial efficiency and
strategic management affect the executives'
perceptions and then lead to better administration
for their organizations, [23]. The corporate strategy
influences the use of strategic management
accounting well, [24]. It also associates with the
result of the organizations' performance, [25].
Moreover, the plan and application are regarded as a
performance strategy that has a positive relationship
with the Balanced Scorecard Effectiveness, [26].
And if there is a proper connection of the Corporate
Strategy, it will affect the balanced scorecard
indicator, [27], [28], [29]. Also, [19], found that the
strategy that will make the organizations famous can
bring higher financial efficiency. Besides, [30],
revealed that it is clear that the huge structures or
sizes of the organization are regarded as a strategy
that affects the quality of accounting information
systems in the organization. In, [31], [32], the
authors identified that suitable strategies influence
the success of managerial accounting performance.
In, [33], the authors viewed that the policy system
or organization strategy impacts the performance
result. Moreover, in, [34], the author found that
strategic management accounting affects the
effectiveness of organizations' performance in
service sectors. Hence, Hypothesis 3 and 4 can be
inferred as Corporate Strategy affects Managerial
Accounting Information, and Corporate Strategy
affects Balanced Scorecard Effectiveness.
Concerning, [35], there is sufficient confirmation
about the roles of using the information on the
management accounting system to enhance the
corporates' performance effectiveness. In, [36], the
authors discuss the use of Managerial Accounting
Information by the executives, which will affect the
efficiency of organization management well.
According to, [37], using Managerial Accounting
Information in production environments that
comprise modern facilities in the organization can
improve management effectiveness, [8], [38]. While
in, [13], the author found that for the evaluation of
management using Managerial Accounting
Information of industrial or business executives,
although there has been the discovery and
development of various techniques to support
management, it still has a gap between business
sectors and government sectors that may not meet
the perfectness. It is because the government sectors
might have the provision and regulations. Thus, it
makes the business sectors have to adjust various
information for decision-making. Besides, the
accounting officers observe that there is a
complication in the process and management
competence. Moreover, this includes the persons
who determine the policies or the executives. These
are quite complicated according to the changing
situations, [22].
In, [20], the authors indicated that accounting
and financial regulations had a relationship with the
organizations' financial performance results.
Whereas, [31], [32], revealed that if an organization
changed its accounting regulations to keep up with
the current situation, it would give a positive effect
on the organization's performance results.
Therefore, Hypothesis 5 can be inferred as
Managerial Accounting Information affects
Balanced Scorecard Effectiveness.
The research framework can be shown in Figure
1 as follows:
Fig. 1: Research Framework
3 Research Methodology
This study was carried out by using Quantitative
Methods. The population was the executives of
residential businesses in the three southern border
provinces of Thailand, which consists of 17
businesses in Pattani provinces, 48 businesses in
Yala provinces, and 67 businesses in Narathiwat
provinces, a total of 132 businesses, [39]. The
instrument was a questionnaire. There were 109
questionnaires of the samples returned or equaled
82.58% of the target group. The questionnaire is
divided into 7 parts as follows: Part 1) the question
items about the Job-Relevant Information, [40],
[41], Part 2) the question items about the Executive
Features, [42], Part 3) the question items about the
Corporate Strategy, [43], Part 4) the question items
about the Managerial Accounting Information, [12],
Part 5) the question items about the Balanced
Scorecard Effectiveness, [44], Part 6) the question
items about the general information of the
responders, and Part 7) the question items about the
general information about the residential business.
Part 1-5 is in the form of 5 levels Rating Scale, (5)
means strongly agreed, (4) means much agreed, (3)
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Sukrita Raksudjadrit, Jenta Kaewfai,
Nantharat Namburi, Sirichai Namburi,
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means moderately agreed, (2) means a bit agreed,
(1) means disagreed. Parts 6-7 are in the form of a
Check List, investigated their content validity by
three experts. The question items which had the
Index of Item Objective Congruence (IOC) from 0.6
up were selected. Then the questionnaire was tried
out with 30 executives but not the same persons of
the sample group. After that, the questionnaire
found the Reliability and Cronbach's Alpha
Coefficient. For the Reliability of the question items
of Part 1-5, all reliabilities equaled 0.89, which is
higher than 0.7, [45]. The data were analyzed by
using the Structural Equation Model.
4 Research Results
For the investigation of consonance on the Causal
Factors Model affecting the Balanced Scorecard
Effectiveness (after adjusting the model), it was
found that the statistic value of the Chi-Square of
the model equaled 141.59 (p-value = 0.07). The
Index of Normed Chi-Square (𝑥2 /𝑑𝑓) equaled 1.20.
The Standard Root Mean Square Residual (SRMR)
equaled 0.08, the Root Mean Square of
Approximation (RMSEA) equaled 0.04, and the
Comparative Fit Index (CFI) equaled 0.99. All of
the Indexes passed the criteria of evaluation on the
consonance. The overall consideration result found
that the Casual Factors Model affecting the
Balanced Scorecard Effectiveness was concordant
with the empirical data, and the Direct Effect (EF),
Indirect Effect (IE), and Coefficient of
Determination for the Model. As shown in Figure 2.
Fig. 2: The Casual Factors Model Affecting the
Balanced Scorecard Effectiveness
Chi-Square = 141.59, df = 118, p-value = 0.07,
RMSEA = 0.04
(JRI= Job-Relevant Information, DC= Data Clear,
SI = Data Enough, TL= TimeLine, EF= Executive
Factures, PS= Personality, ME= Morality and
Ethics, MS = Ability, CO = Corporate strategy, FE=
Focus on Expertise, FB= Focus on Business
Distribution, ST= Stability, MAI= Managerial
Accounting Information, CS= Cost System,
BU=Budgeting, PE= Performance Evaluation, ID=
Information for Decision-Making, SA= Strategic
Analysis, BSC= Balanced Scorecard, FI= Finance,
CU= Customer, IN= Internal Process, IL= Learning
and Growth)
Table 1. Direct Effect (DE), Indirect Effect (IE),
Total Effect (TE), and Coefficient of Determination
(R2) of the Casual Factors Model affecting the
Balanced Scorecard Effectiveness
Note. * represents the significance at 0.05 level, **
represents the significance at 0.01 level, and the value
appearing in () is the Standard Error.
From the results of Table 1, it was found that
when considering the size effect within the Casual
Factors Model affecting the Balanced Scorecard
Effectiveness (BSC), it revealed that the factor
which overall affected the Balanced Scorecard
Effectiveness (BSC) the most included Managerial
Accounting Information (MAI). Secondly, it was the
Corporate Strategy (CO) and Job-Relevant
Information (JRI). The effect size equaled 0.72,
0.68, and 0.63, respectively. and the statistical
significance was at.01. Whereas the Executive
Features (EF) overall affected the Balanced
Scorecard Effectiveness (BSC) the least, with the
effect size equaled 0.09, and the statistical
significance at 0.05 level. When considering the
Direct Effect, there was only the Managerial
Accounting Information (MAI) that directly affected
the Balanced Scorecard Effectiveness (BSC), with
the effect size equaled 0.72, and the statistical
significance at.01 level.
When considering the Indirect Effect, the
factors which indirectly affected the Balanced
Scorecard Effectiveness (BSC) the most were the
Corporate Strategy (CO), and secondly was Job-
Relevant Information (JRI). The effect size equaled
0.68 and 0.63, respectively. And the statistical
significance was at 01. While the Executive
Features (EF) affected the indirect effect toward the
Balanced Scorecard Effectiveness (BSC) the least,
with the effect size equaled 0.09, and the statistical
significance at.05. Furthermore when considering
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Sukrita Raksudjadrit, Jenta Kaewfai,
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the Coefficient of Determination (R2), it identified
that the Managerial Accounting Information (MAI),
Corporate Strategy (CO), Job-Relevant Information
(JRI), and Executive Features (EF) could mutually
describe the variance or predict the Balanced
Scorecard Effectiveness (BSC) at 52%.
5 Discussion
Regarding the Managerial Accounting Information
affecting Balanced Scorecard Effectiveness, if the
organization emphasizes Corporate Strategy and
Job-Relevant Information, it will reach its full
potential because both are considered crucial parts
in every changing situation. For Job-Relevant
Information, it will be the information that helps the
executive determine the Corporate Strategy suitably
with the organization in that situation the most.
Furthermore, the Executive Features with full
competency, visions, experiences, virtue, and ethics
help promote the Managerial Accounting
Information to be applied effectively through the
suitable plan and decision. Hence, it will bring about
performance effectiveness for the organization. It
can be seen from the research result that accepts
Hypothesis 1: Executive Features affect the
Corporate Strategy. It is concordant with the
research of, [16], which found that performance
satisfaction or executive features had a relationship
with corporate strategies. Moreover, Hypothesis 2:
Job-Relevant Information Affects the Corporate
Strategy; is concordant with the study of, [22],
which revealed that executives benefit from the
business analysis by using the information
associated with various aspects to determine the
strategies for reaching better decision-making.
Hypothesis 3: Corporate Strategy Affects
Managerial Accounting Information, is similar to
the research of, [30], [31], [32], which viewed that
the strategies and organization's structures affect the
use of accounting information or the accounting
procedures well. However, Hypothesis 4: Corporate
Strategy Affects the Balanced Scorecard
Effectiveness, which was not accepted. It is
probably because the residential business executives
view the corporate strategies that they cannot lead
the organization to achieve performance
effectiveness. Hence, it should have documents or
Managerial Accounting Information to support the
plan and decision more accurately. Furthermore,
from the literature reviews, it might be because the
previous studies focused on different areas such as
Australia Continent, or the Middle East. Besides,
different samples might affect the research result not
to be concordant as mentioned, [27], [33], [34],
[46], [47].
6 Conclusion
From the roles of Managerial Accounting
Information affecting the Balanced Scorecard
Effectiveness, they consist of other associated
factors under the Contingency Theory, which
supports the effective use of Managerial Accounting
Information for the organization's operation.
Managerial Accounting Information has a crucial
role in organization management for achieving
survival in such changing situations. Furthermore, it
will be great when there is an adjustment in the
procedures of accounting to be concordant with the
changing situations of today.
Acknowledgment:
This research was supported by Research and
Lecturer, at Yala Rajabhat University, Thailand.
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WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2023.20.194
Sukrita Raksudjadrit, Jenta Kaewfai,
Nantharat Namburi, Sirichai Namburi,
Warawut Waranantakul, Piyanat Thunputtadom
E-ISSN: 2224-2899
2261
Volume 20, 2023
Contribution of Individual Authors to the
Creation of a Scientific Article (Ghostwriting
Policy)
- Sukrita Raksudjarit, Conceptualization, Writing -
review & editing and Project administration.
- Jenta Kaewfai, Project administration.
- Nantharat Namburi, Data curation.
- Sirichai Namburi, Formal analysis and software.
- Warawut Waranantakul, Resources.
- Piyanat Thunputtadom, Visualization.
Sources of Funding for Research Presented in a
Scientific Article or Scientific Article Itself
This research was supported by Research and, Khon
Lecturer, Yala Rajabhat University, Thailand.
Conflict of Interest
The authors have no conflict of interest to declare.
Creative Commons Attribution License 4.0
(Attribution 4.0 International, CC BY 4.0)
This article is published under the terms of the
Creative Commons Attribution License 4.0
https://creativecommons.org/licenses/by/4.0/deed.en
_US
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2023.20.194
Sukrita Raksudjadrit, Jenta Kaewfai,
Nantharat Namburi, Sirichai Namburi,
Warawut Waranantakul, Piyanat Thunputtadom
E-ISSN: 2224-2899
2262
Volume 20, 2023
