The teaching of management accounting at tertiary institutions drew criticism in the mid‐to‐late 1980s on the grounds that course content and teaching methods were not keeping pace with changes in manufacturing technologies and the business environment. A study of management accounting programs in 30 Australian universities shows that the criticisms are largely being addressed, with most programs being well up‐to‐date in their coverage of many of the new topics and practices that have emerged in management accounting in recent years. Nonetheless, management accounting educators continue to see a number of constraints on effective teaching in th