General Management and Management Accounting
The two important factors in the current economic environment are the increased pressure to reduce costs and the uncertain economic outlook.
To make their decisions, both managers and shareholders need faster access to better information.
Management Accounting
CFOs and controllers have to meet this challenge. Despite the introduction of modern systems, many businesses still do not have the information they need for effective controlling, like performance measurements,
key metrics and indicators or a balanced scorecard. Furthermore, the costs incurred to establish a system of performance indicators, regular financial statements and to run the cost accounting systems are too high.
Management Accounting, in Germany known as "Controlling", this work aims at the implementation of business goals and includes a comprehensive concept of monitoring, governance and coordination;
it is therefore part of an enterprises success.
Management Accounting is considered a tool to support management decisions.