Where do you start? Understanding financial statements sounds daunting. Here, we go through the practical aspects of Management Accounting. Learn about the benefits of Management accounting compared with Tax Accounting. Then, setup your Chart of Accounts to give you the greatest information from your financial statements. At the same time, work on the practicalities: TrendBoards, ChangeBoards, Ratio Analysis to name a few. In addition, understanding financial statements will highlight the benefits of accrual accounting compared with cost accounting. To explain further, accrual accounting will allow you to gain the most information from your accounts. Find out the importance of accounts receivable and accounts payable to accrual accounting.
11Feb
Management Accounting Suggestions
In this article, we discuss some of the common improvements that can be made to small business management accounting bookkeeping systems to make them more useful for management accounting and performance measurement purposes. The usefulness of many of the tools and discussions in 12Faces rely on the quality and nature of...