Most businesses are aware of the value of highly skilled accountants, as their knowledge can save the company money. However, a lot of companies forget that good accountants can actually help in increasing revenue and decreasing overheads as well.
Accountancy is much more than recording financial transactions in order to calculate profit or show the tax liability of a company. Management accountants actually help shape company policy and the direction that the company will take in the future.
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- How can management accountants help a business?
- Do you agree that management accounting is more valuable to a company than financial accounting? Why / why not?
- 'Accounting records the past while management accounting predicts the future' Do you agree? Why / why not?