Effective Management Accounting: The Place of Reporting, Budgeting & Analysis

Abstract

Businesses believe that accounting is for financial reporting and to met statutory needs alone. Most enterprises that have Management Accounting systems do not utilize them effectively. The popular way company directors influence performance is performing postmortem adjustment on financial reports to look healthy. This has contributed to the whining efficiency, filthiness and diminishing popularity of capitalism. Entities waste opportunities to tremendously improve their performance using Management Accounting. Effective Management Accounting will assist enterprise to create value, innovate, promote efficiency and effectiveness in resources utilization to achieve enterprise objectives.