Whatever your responsibility in your business or organization, you need accounting skills to do the best you can. If you are in sales, you will know the characteristics of your product and how it will show to your customers. These features include cost or value creation and customer influence. buying decisions.
Marketing Managers will learn how to find and attract target product groups. The processing of price increases may involve some detailed cost analysis. Production Managers will learn how to design a workflow to control costs. Senior executives use the financial statements to talk to those who talk about their business. Whatever the level of management, you need to know the accounting because your decisions are often defined by "numbers". So they have leadership scores and are graduates.
Each business asks three key questions:
o How Much Money Did It Come In?
o Where did the money go?
o How Much Money Is Back?
The answer to each question can only come from accounting practice. As with other practices such as medicine and law, accounting has its own vocabulary. Accounting is in many ways business language. You heard the saying that nothing happens until someone sells something. After sales, accounting is the basis of business.
Many managers and professionals confuse bookkeeping and bookkeeping. They believe that bookkeeping is accounting. Accounting is a matter of registration in the accounting system, according to some principles. Accounting is the way to create the system, the underlying principles, and how to check the system to ensure it works properly. Accounting ensures that accounting is honest and accurate, as well as financial accounting and management accounting, to provide customers and business people with the image they need for the company's money.
It's just one thing. In fact, you can skip many great opportunities if you can not read reports from the accounting system. Because they make the following things much easier.
– Transaction records errors.
– A plan for the future. When to borrow money and what to do to improve your business.
– Stop Fraud and Theft. If you know your business and your books, you will know if people are cheating.
– Tax must be given. If only one checkbook and shoe boxes are full of returns, tax time can be a nightmare. In fact, it may be less cost to keep good books all year than to clean the mess only for the IRS.
You can do a lot if you understand your bookkeeping. Get some decent accounting references and enjoy your knowledge.
Source by sbobet