Accounting for Decision Making and Control: A Questionnaire

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Running Head: ACCOUNTING FOR DECISION MAKING AND CONTROL Accounting for Decision Making and Control Overview of Accounting Accounting is defined as the method of recording, gathering, and reporting financial data for an organization or people to make a decision. Accounting is the internal building role of accounting professionals used to manage organizational internal systems and make effective decision. Accounting reports provide the transactions that affect entities using report and numerical values such as dollars. In the contemporary business environment, businesses make lot of decision, however, a decision will not stand a chance if not based on solid information and reasoning. Application of cost accounting is critical for business organizations to make an effective decision. Accounting is used for planning and control to attain organizational objectives. Planning is one of the major examples that accounting employs to assist organizations. The planning assists organizations to choose goals and predict results between alternatives. In product management, accounting assists organizations to make a decision about whether to accept or reject a product, add a new product, accept or reject a special order as well as terminating a product line. Moreover, accounting assists organizations to set appropriate selling prices as well as implementing strategy to enhance control, which includes change product process, adds equipment and outsourcing. Objective of this report
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