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Essay example - International Management Accounting: Answering Questions
Finance & Accounting
Pages 11 (2761 words)
International Management Accounting International Management Accounting Question Chosen: International management accounting research has largely examined the use of accounting information in relation to decision-making strategies of business organizations by focusing on evidence in the Anglo-American contexts…
Extract of sample
Answer: In the era of merging cultures and competition in businesses, the criticality of management role and decision-making strategies has increased significantly. Decision making on the basis of estimates and assumptions has far been obsolete. The need of a systematic approach for decision-making has been felt, by companies and organizations to improve the authenticity and accuracy of the decisions made (Gelinas et al., 2010). This need urges the researchers and analysts to devise a methodology, which covers the useful data and information about the company’s revenue, loss and expenditures, which could aid in making company plans and decisions accordingly. Previously, the method used for gathering information, which would be the base of management decisions, was the Management Information System (MIS) (Gelinas et al., 2010). This system was based on manual data collection and there were great chances of human error and delay in forming reports. Maintenance was another viable issue with this system, causing company much time and problems in extracting old data and statistics. ...
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