Modern Cost Management Techniques and Future Trends: Literature Review

Saba Kareem Abbood; Ghazi Maan Faisal

doi:10.63540/kijme.v13i48.3626

Authors

Saba Kareem Abbood Post-graduate Institute for Accounting and Financial Studies, University of Baghdad https://orcid.org/0009-0007-9466-8157
Ghazi Maan Faisal Post-graduate Institute for Accounting and Financial Studies, University of Baghdad https://orcid.org/0009-0002-9338-1713

DOI:

https://doi.org/10.63540/kijme.v13i48.3626

Keywords:

Cost Management Techniques, Target Costing, Kaizen Costing, Value Engineering, Artificial Intelligence, Management Accountants.

Abstract

This study aims to conduct a systematic and analytical review of the most prominent modern Cost Management Techniques (CMT), such as Target costing (TC), Value Engineering (VE), CI (kaizen), and Lean Accounting Tools (LATs). It also highlights the role of DT, driven by Artificial Intelligence (AI), Big Data (BD), and the Things Internet, in improving cost accuracy and enhancing financial performance. The review addresses key future trends, including the integration of ERP systems with predictive analytics, the growing emphasis on sustainability, and the repositioning of the CMT function as a strategic component in decision-making support. The study employed a systematic literature review (SLR) approach spanning the period from 2021 to 2025 (Until April), analyzing 24 studies published in peer-reviewed scientific journals across multiple industrial and service sectors. The results highlight the importance of integrating digital technologies with contemporary costing concepts, thereby enhancing the role of management accountants as strategic partners in achieving efficiency, innovation, and sustainability.

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Author Biographies

Saba Kareem Abbood, Post-graduate Institute for Accounting and Financial Studies, University of Baghdad

Lecturer Dr. Saba Kareem - Post-graduate Institute for Accounting and Financial Studies, University of Baghdad, Iraq.

Ghazi Maan Faisal, Post-graduate Institute for Accounting and Financial Studies, University of Baghdad

Lecturer Dr. Ghazi Maan - Post-graduate Institute for Accounting and Financial Studies, University of Baghdad, Iraq.

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