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Financial Decision Making (Example)

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Financial Decision Making Student’s name Name of Course Professor’s name Name of School Date Financial Decision Making Indeed accounting scandals have characterized the current century and created lots of controversial debates. Companies are under immense pressure to perform and meet set objectives and this has forced stakeholders to be creative in their accounting reports for the sole reason of sustaining the relevance of the businesses in the respective industries and markets. However this usually comes at a cost that can impede the progress of such entities (Farrell 2015). Accounting should be done correctly and honestly as it ensures better prospects and results. Also management accounting should be a coherent practiced adopted by companies if they have any objective of keeping up with recent trends and competition. A justification for providing accounting information is to prove to shareholders the general public and the government that the business has been recording for integrity norms to be observed at all times. Stakeholders of an organization need to realize that proper reporting is essential to the survival of any entity. This can only be guaranteed when management accounting is effected at every level of the organization and managers made aware of the apparent consequences if they fail to uphold certain protocols. Accounting provides delicate information that is mostly meant to guide the company to explore the heights of their potential. Cooperation between directors and managers is essential if there is a common desire to avoid scandals and unnecessary financial dilemmas that can destroy the existence of an organization. References Birt  J. Chalmers  K. Moroney  S. Brooks  A. & Oliver  J. (2014). Accounting business reporting for decision making. Farrell  S. (2017 November 29). The world's biggest accounting scandals. Retrieved December 30 2017 from Warren  C. S. & Reeve  J. M. (2005). Financial & managerial accounting. Mason OH: Thomson/South-Western. [...]

Order Description: Read the article via the link above and comment on the following in the context of the article: What is the purpose of providing accounting information? Management accounting has been described as 'the eyes and ears of management'. What do you think this expression means, and how valid is this statement in the case of the scandals referred to in the article? How can financial reports aid decision-making? What is the scope of their use in making decisions that demonstrate integrity to the company's stakeholders? Word limit 1,000 words.

Subject Area: Accounting

Document Type: Term paper

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Project's rating is 5/5

Price $40

Words 1375

Pages 5

Completed in 5 days

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