Management Accounting Practices in the Gulf Cooperative Countries

Abstract

This study focuses on the use of Management Accounting tools by companies in the Arabic Gulf Cooperation Council (GCC) countries-a trading bloc created in1981, consisting of the six Arabian Gulf states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The GCC countries is a unique business community comprising of “national” family owned businesses, branches of large multinational corporations and many joint ventures between local and international companies. Evidence suggests that companies in the GCC countries rely on the more traditional management accounting practices such as budgeting for planning and control, standard costing and performance evaluation based on divisional profits rather than the more recently developed strategically focused tools such as activity based management , activity based costing and the use of the balanced scorecard.

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