Bean counter to value-adding business partner: the changing role of the accountant and situated rationality in a multinational firm

Abstract

Purpose

This paper aims to explore the changing role of the accountant amid multiple drivers, responses of accountants and situated rationality in a multinational firm, Max-choice Lanka.

Design/methodology/approach

It adopts the single-site case study approach under the qualitative methodology and leans on institutional theory, specifically Ter Bogt and Scapens (2019) framework.

Findings

The case study findings reveal that the role of the accountant has undergone change amid local and broader institutions linked to organizational culture/norms, the influence of the parent company, global trends and technological advancements. Based on evolving situated rationalities, the contemporary accountant performs an agile role as a value-adding business partner; data scientist; strategic decision-maker; and a cross-functional team member.

Practical implications

At the practice level, identifying drivers influencing the changing role of accountants enables organizations to shape their accounting functions attuned to evolving needs by implementing appropriate strategies and recruiting competent personnel. In the realm of education, it calls for incorporating areas such as big data analytics, artificial intelligence, reporting nonfinancial information and integrated accounting software to the accounting curricular and upskill students based on industry expectations catering to changing roles.

Originality/value

This paper adds to the ongoing debate on the contemporary role of the accountant. Capitalizing on case study data, this research illuminates the influence of multiplicity of institutions, different forms and situated rationality within this changing role and extends the Ter Bogt and Scapens (2019) framework.

Citation

Samanthi, D. and Gooneratne, T. (2023), "Bean counter to value-adding business partner: the changing role of the accountant and situated rationality in a multinational firm", Journal of Accounting & Organizational Change, Vol. 19 No. 3, pp. 513-535. https://doi.org/10.1108/JAOC-04-2022-0063