What information or principles can one learn about in accounting that he or she can put to use in a job and how will he or she contribute to the organization's decision-making process?
From my own limited perspective, I know understanding financial statements and financial ratios are quite helpful and applicable toward making sound fiscal decisions for an organization rather than assuming without fully analyzing the financial data available. Being responsible for the revenue side of the organization's budget is paramount. Also, internal audits and asset allocation are important.
The information about the importance of the various financial statements, such as balance sheet, profit and loss account and cash flow statements, and the relative importance of the various components or information presented in these statements allows an individual to assess the health of the organization after regular intervals.
The information presented in these statements allows an accountant to evaluate the performance of the organization and ...
Accounting and relevance in actual organizational perspectives