1 Introduction Today's manufacturing environment is changing rapidly. The alteration stimulates the need of owners and managers of manufacturing companies to make quick and intelligent decisions, crossing the global variability of business, management, accounting techniques, high technologies and science. Management accounting intended to produce useful information on product cost, budget and performance. There has been a significant influence in the management accounting system due to changes, such as the reduction of import tariffs, employment practices, and the implementation of new practices. To be successful, each company chooses its own way of driving the business through different management accounting techniques. In recent decades, new management accounting tools and techniques have been developed through information and the latest production technologies. The search for new methods has consequently become an opportunity to partially lose the previous need for traditional management accounting techniques. Modern techniques such as TQM (Total Quality Management), ABC (Activity Based Costing), JIT (Just in Time) have been introduced and have started to achieve popularity of use among many manufacturing organizations. The presented assignment investigates the traditional or modern methods of management accounting that are useful in today's era of global competition.2 Main bodyThe modification of management accounting system has become urgent due to the suspension of the system to keep up with the latest management philosophies and production technologies. This is why the cost of products, non-financial performance and valuation of capital investments were of concern. Information technologies were highly developed and management was… mid-1980s. It aims to negate the problems of standard management accounting by providing a company with strategic, operational, financial and non-financial information. It recognizes that business can be a series of related activities and processes that measure undertaken to serve the customer and deliver product features. ABC therefore, is the umbrella term to explain another paradigm to the traditional volume-based pricing model. The organization in the new millennium should adopt a more realistic approach to management. Managers need traditional and non-traditional management accounting strategies to create higher selections. Key drivers such as size, business and strategic priorities have a differential impact on management practices. Size matters for emerging practices, while business matters for traditional practices.