Communicating information
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Consider the following scenario:
You are a senior level manager in a large company:
List and explain the types of accounting information that are important to you and your staff when making decisions.Explain how your managerial accountant uses technology to develop and communicate this information throughout your large company.
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Solution Summary
Provides advise in tackling the question (see above) on the topic f managing an accounting scenario. References are provided.
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Types of accounting information that are important for making decisions:
The types of accounting information that are necessary for making decisions are forecasting reports, budgets and cost allocation reports. Accountants prepare economic forecasts to determine under specific market conditions the potential sales of goods or services to consumers. The common forecasting reports include mathematical forecasting models, the net-present value calculations and decision trees (Vitez, 2011).
The accountants also use budgets to ensure that ...
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