Abstract

The accounting services are vital for the success of a business, and their quality is very important, both for the users of accounting information, as well as for the providers of services. I want to highlights through this paper, the characteristics and important quality factors of management accounting that managers need to use during management decision-making process.

Accounting information provides managers with data needed to determine whether a business is at a profit or a loss, company’s liabilities, profit and much other financial information. Accounting measures business transactions and it is the right tool that helps managers with actual information and reach decisions on a timely manner. For example, in retail industry through accounting information, managers can determine when sales should decrease or increase. Accounting and financial information are among the most important information widely used in the managerial decisions. In the rapidly changing world nowadays, information technology has become an indispensable part of every organization. The extent to which the information technology affects the decision making process is quite big through which managers are capable to pay attention to the efficiency of their management accounting information systems. A business manager, should identify the handful of critical information variables and need to keep a close eye on the business. All these factors are included in internal accounting reports. Only the business manager, can identify the most important numbers that should be monitored closely to know how things are going.

There are many cases where large organizations have failed due to poor accounting management. Enron’s collapse raises the issue of how to reinforce directors’ capability and will to challenge questionable dealings by corporate managers. In financial information