Accounting for Managers: Interpreting Accounting Information for Decision-Making by Paul M. CollierAccounting for Managers, 2nd Edition explains how accounting information is used by non-financial managers. The book emphasizes the interpretation, rather than the construction, of accounting information and encourages a critical, rather than an unthinking acceptance, of the underlying assumptions behind accounting. It links theory with practical examples and case studies drawn from real life business situations in service, retail and manufacturing industries.
uses of accounting information in decision
Accounting information for decision-making
In Brief. Managers use cost accounting information to make different types of decisions, which include developing long-term strategies and creating short-term operating plans. Managers achieve higher-quality decisions by using higher-quality relevant information and decision-making practices. Accounting information systems often focus on the data needed for financial reporting rather than management decision making, so managers need to appropriately identify relevant information for internal decisions. Cost accounting information is also used as part of an organization's control systems to measure and monitor organizational performance and to motivate employees to take actions consistent with organizational strategies. Some controls ensure that operations proceed according to planned strategies, and other controls help managers determine whether strategies should be altered. Controls also include codes of conduct, values statements, and other mechanisms to ensure ethical behavior.
Every material on this site is authentic and was extracted from the complete available project. The use of accounting information in view of the nature of business environment of today is very important. The study of this research therefore is to investigate the impact of accounting information on decision making process. The study started by examining the nature of accounting information. The review of literature forms chapter two. In this chapter, various definition of accounting, characteristics of useful accounting information, accounting discipline, various theoretical and empirical reviews were stated. The chapter three states the method of analyzing data, research design, source of data and sampling, while the data presentation, analysis and interpretation were done in chapter four.
More about this item Keywords management process ; accounting system ; decision making process ; accounting information. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xii:yip See general information about how to correct material in RePEc. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here.
Stay ahead with the world's most comprehensive technology and business learning platform.
Learning, which accounting information are needed for various business decisions Developing the knowledge of financial statement and the impact of various decision on taxes Performing financial statement analysis Defining the role of auditing for true and fair reporting Understanding costs and their different classifications Understanding management accounting tools and techniques for decision-making. Financial accounting information I. Understanding fundamental financial statements and the effects of various managerial decisions on profit, financial position of the company and taxes I. The importance of cash flows I. Responsibility of managers for financial reporting and the role of auditing I. Financial statement analysis: key financial indicators for understanding profitability, asset turnover, financial position and liquidity of the company I.