Seeking more actionable financial and operational data reporting, Los Angeles and Southern California executives are taking closer looks at management accounting for improving strategic decision making.
Findings in a report from the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) identify four principles that can contribute to improved decision making, and they are effective for all companies regardless of public/private structure or size.
Reviewed in this week’s article…
…are the AICPA/CIMA management accounting report, its four principles, and positive outcomes from applying them.
Business leaders interested in improved strategic decision making can realize significant benefits when they implement management accounting principles in multiple areas including controls, reporting, cost management, cash management, and more.
When evaluating application of management accounting principles in financial and operational areas, a CFO services professional with a proven track record of applying management accounting principles is an effective resource to have on the team.