What do you consider the most important management accounting practices in your company?
Answers
I am a very big advocate of scorecards which allow any individual that understands your business to gauge how you are doing, by looking at a one page scorecard. Every department should identify no more than 10 ratios...trend the data...show some benchmarks and you will have an excellent
I'm an advocate of using a Cash Flow Projection. This is an important tool to help make decisions in advance of being faced with a possible financial crisis. The economy has been tough these past few years and it's important to track and understand your cash flow.
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