Abstract This chapter chronicles the history of management accounting in the U.S. from 1800 to 1970. A major theme of the first century covered was the search for the origins of purposeful cost accounting in venues such as the New England textile industry, the Springfield Armory, the railroads, and the metal-working firms where the scientific management movement was born. The rise of the mega-corporation and the genesis of managerialism are key events of the early twentieth century. Standard costing and budgeting were essential developments. The chapter concludes with our analysis of certain components of management accounting's conventional wisdom as of 1970, accompanied by a view of the discipline's future directions.