The Ministry of Finance ("MOF") has recently released 22 Guidelines for the Application of Management Accounting (collectively as the "Application Guidelines"), including the Guidelines for the Application of Management Accounting No. 100 - Strategy Management, aiming to provide units with guidance on management accounting practices.
The Application Guidelines cover seven areas, to be specific, the budget management, cost management, operation management, investment and financing management, performance management, enterprises' management accounting reports, and management accounting information system. Guidelines for each area are designed under the idea of "combining general guidelines and guidelines for tools and approaches". In particular, the general guidelines generally comprise the general provisions, application procedures and supplementary provisions, giving a brief description of common tools and approaches for that area and common requirements regarding how to apply these tools and approaches, while the guidelines for tools and approaches are generally made up of the general provisions, application conditions, application procedures, application assessment, and supplementary provisions, with the content centered on the application of management accounting in order to make them more practicable.