Abstract The article focuses on the changes in the accounting system in the U.S. The author refers to a number of papers by various scholars, related to this subject. In 1963 the economist Sidney Davidson wrote a paper, marking the 40th anniversary of the publication of J. M. Clark's book, entitled "Studies in the Economics of Overhead Costs." Davidson titled his retrospective of Clark's book "Old Wine in New Bottles." This paper acknowledged Clark's contributions to the development of relevant cost analysis one of the new bottles of managerial accounting in 1963. It is not the Intent of the paper to belittle the accomplishments of the management accounting field over the past 30 years or to belittle the leadership efforts of those who have shaped and refined the current underlying conceptual framework. Management accounting could not go forward from here were it not for the achievements that have brought it this far. The transition from cost accounting to managerial cost analysis is one primary accomplishment looking backward over the past 30 years.
John K. Shank (Fri,) studied this question.