Question

What accounting skills do managers value?

Answer 1

Every Company or any other form of business ,will have their own goals.As a result of teamwork,every one has a function to do with perfection to achieve their desired and expected result.When superior authority to achieve the goals will distribute to his subordinates where the real beauty of team work will happen.

There will be several concern about teamwork,which every one needs to move towards straight direction which makes so rigid in the process,which the entire team should be clear and distinctive knowledge about their goal and expected results.When a team moves in a same direction it would be seem as an idea which to achieve the desired results.Each team mate has to find their space which can be different to lighten their creativity to show results and achieve their goals.

As far as in a Team Concern,there are several accounting skills which believes have the values are:

1)Operating Budgets

Operating Budgets are primary for every form of business to start,grow and establish.It creates certain awareness about the circumstances which followed internally or externally in every form of business,to act towards according to such situation,the business will be updated with time.

2)Financial Forecasting

When you make financial forecast,you see what direction your business is headed in based on your past performance and other factor and use that to anticipate the future.

3)Pricing

Pricing is crucial for business,it determines future of the product,acceptability of the product to the consumer and return and profitability from the product.it is a tool for competition.

4)Cash flow Statements- To Ascertain cash movements

5)Inventory Management- To find accurate flow of stock according to market availability.

6)Capital Budgeting-. It takes all possible consideration into account so that the company can evaluate the profitability of the project.

7)Accounting Controls,etc.