Written by:Diomer Antonio Galán Rincón.
Bachelor's Degree.Public Accounting / MSc.Science of Higher Education.
Author: @dgalan,through Power Point 2010 tool, and using public domain image Pixabay
Entities have always required accounting and administrative processes to be able to issue reliable and safe judgments in order to be able to make indispensable decisions in terms of financial investments. That is why management accounting is a discipline or technique of the accounting sciences that allows the construction of strategic plans in the short, medium and long term in order to consolidate the objectives set by the organization.
From this point of view, it is convenient to mention that the financial operations and actions of accounting exercises carried out by the entity require a quick action in order to have the financial resources at the indicated time, for these reasons, it is necessary to approach the cycle of the daily and major accounting exercise through the support of a management accounting that provides mechanisms for the planning, organization, management and control of finances.
Image taken from:Pixabay
Accounting has been a fundamental tool in the financial, economic and administrative processes and its auditable operations. Because it is accompanied by management as a determining factor in the correct management of financial resources and decision making.
In this regard, the Accounting Journal EduRed, (2016) states "management accounting improves the continuity of internal productive processes, qualitatively and quantitatively, control, strategic management of costs in all functions and segments of the organization, Hence, its applicability in the entities contributes to the improvement of the process where financial operations are involved.
Image taken from:Pixabay
Thus, it is essential that the entities develop the accounting process adjusted to policies inseparable from management accounting as an instrument that guides the accounting management adequately.
In this regard, it is very important that companies should have an auditable control system for financial operations, in order to facilitate their verification and the feasibility of records for decision making. In other words, management accounting is required to guide the process effectively and direct the data of such operations towards strategic decisions that favor the future performance of the company.
I hope you like my article and I would appreciate all your comments.
bibliographic reference:
Hello friend @dgalan.
It is very important that you educate us on everything related to management accounting, because as you explain it is necessary to guide the process of operations in which the future of these companies that use management accounting as a fundamental tool is involved.
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Greetings @carlos84. Management accounting is important in any company as you express as it helps us to have clear plans and strategies to consolidate the company over time. Thank you very much for sharing your comments
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hello @dgalan
Accounting is an important part of any company these days, companies that want to know what is happening in real time must have a correct management of their finances as this will tell them if they are making or losing money and with this information they can make good decisions.
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Greetings @ trabajosdelsiglo, Very true your opinion, it is essential to have an accounting system that follows the current accounting rules and procedures that allow us to make decisions for the future of the organization.
Thank you very much for your comments
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Hello @dgalan
Having absolute control of operating expenses, of everything that has to do with running the company is what allows risks to be minimized for future investments and decisions.
I think in part many companies go into risk if they have no record of mistakes they might have made in previous operations.
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Greetings @ josevas217 . very true what you say you must have control and record of everything to be able to make the right decisions . Management accounting helps the company to fulfill plans and goals in the short, medium and long term, essential to be successful companies.
Thank you very much for your comments.
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Control accounting in terms of finance is extremely important for a company, but not enough, processes are needed to control the costs of all services, activities and products, because, although the inventory is part of the capital, if it does not move it can represent losses for the company. Therefore, it is necessary to know more and better the integral management of a company in order to make the right decisions.
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Greetings @ emiliomoron. Accounting is so important and fundamental for organizations that allows you to make a complete evaluation of the entire organization through the numbers (financial reports), where management can determine strategic planning changes that will serve to make decisions regarding cost structure, expenses, investments, financing, taxes, dividends in short everything that is related to the resources (capital) of the organization.
Thank you very much for your comments.
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Hello Dear @dgalan, thanks for sharing this information, good article.
Well, accounting is an eagerly part of any company, even small businesses that should be supported by a good accounting that allows them to audit themselves and make decisions about their own company.
Greetings!
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Greetings @ fucho80 accounting is a fundamental part of any company as you say regardless of size, financial reports help management to make the right decisions and audit controls if any procedure is not within the standard.
Thank you very much for your time to read my publication and for your comments....
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@tipu curate 5
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Upvoted 👌 (Mana: 0/5) Get profit votes with @tipU :)
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thank you very much for your support
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Greetings friend @dgalan and if you allow me, appreciated colleague since I am also a public accountant by profession.
This type of article is very interesting since it allows people, especially investors, entrepreneurs or businessmen, to understand that accounting is not about simply making notes and keeping track of financial operations carried out, on the contrary having a fundamental role in the correct and efficient execution of the core processes of the companies.
Accounting based on management models not only establishes efficient links between the administration of the organization's resources and production processes, but also allows management to obtain a global and complete approach to the financial result of its operations, counting on clear and precise elements. in order to determine the need to make changes or adjustments in terms of organizational performance.
Nice to read my estimate, we keep reading!
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Greetings @ @ karupanocitizen I share your opinion and appreciate your comments, it is good to have interaction with other colleagues. Correctly accounting allows management to know through the financial statements the economic and financial situation at a given time to make adjustments and make decisions of any kind that will benefit the organization.
Thank you very much for your comments
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