Question

Why should accountants participate in product design? What insights about costs can accountants contribute that differ from the perspectives of purchasing managers and engineers? ( provide something different from the one in the textbook solutions and from online)

Answer 1

Yes, its a good idea that even accountants should participate in the product design since, an accountant mainly looks into the areas relating to costs in any given aspect.

Accountants provide a different perspective and notice few aspects that are different from the purchasing manager's and engineer's point of view and which product designers generally take for granted.

As we all know , accountants normally has a wide perspective of last looking into the issues where in this case he will also look deep into the past scenarios and outcomes of such design in the past by using his various tools and techniques which normally engineers may not do as per their knowledge is concerned and how the product will have its impact on the business at the initial stage and in the long run is also assessed by the accountants with some of the past data and by basing on sum assumptions, he can contribute a better idea or suggestion regarding the product which is being designed.

By doing so if he feels that the product would be beneficial to the organisation or vice versa , the same can be conveyed to the management and management can take proper decision because the accountants will give a conclusion by basing on.various research and other techniques and not vague ideas are given by him . Therefore the management can decide whether to go with the product design or stop it or make any changes if required in order to meet the requirements given by accountants for better design by discussing the same with the designing team and the related parties.

Hence, it is always a good idea which must be adopted by any management to involve the accountants in a product design for a better yield in present and also as well as in future.