An Investigation between Firm Size and Management Accounting Practices in the Steel Industry of India

The present study investigates the correlation between business size and the use of management accounting procedures within the dynamic context of the Indian Steel Sector. The Indian Steel Sector is well organised for its complex characteristics, substantial capital outlays, and susceptibility to fluctuations in the economy. This is an intriguing framework for investigating the evolution of management accounting procedures across different industry categories. The current study aims to do a thorough literature review on the worldwide steel industry. The main aim of this study is to assess and compare the cost and management accounting practices used by organizations of different sizes. The research included the acquisition of data from a total of 16 distinct organizations. The dataset included demographic data pertaining to the workforce as well as information on the magnitudes of the organizations. The data was obtained via the participation of 48 individuals occupying positions in senior management, financial management, and accounting roles. The study used a convenience sampling method and employed several statistical approaches, including the calculation of the mean and standard deviation, utilization of a 5 -point Likert scale, and analysis of variance (ANOVA), to assess the levels of cost accounting and management accounting based on organizational size. This study provides a thorough analysis of the distribution of the workforce, demographic characteristics, and professional positions within the steel industry. By identifying trends, this research contributes to a deeper comprehension of the dynamics inside organizations operating in this sector. Significantly, the regression analysis shows a noteworthy correlation between variables, indicating the influence of scale on management methods inside these firms. The aforementioned results provide significant contributions to scholarly discussions and practical issues in the field of organizational studies.