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4 management accounting principles to guide improved decision-making

by Neil Amato | Oct 22, 2014   ()

Effective management accounting practices can improve decision-making in organizations, which need sound fundamentals but also speed when trying to decide which strategic paths to follow. In short, organizations need principles that can be applied to help produce favorable outcomes.

The Global Management Accounting Principles, released Wednesday, represent the first set of universal principles to guide the practice of management accounting.

The principles, prepared in a comprehensive report released by the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA), are based on insights from a global sampling of chief executives, CFOs, academics, and other professionals.

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Source: CGMA Magazine
Source: CGMA Magazine

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