Assume that you are a personnel officer in a manufacturing company, and that one of your employees is a young engineering manager called Joseph Sykes. Joseph has been chosen to attend the local university's business school to study for a diploma in management. Joseph is reluctant to attend the course because he will have to study accounting. As an engineer he thinks that it will be a waste of time for him to study such a subject.

Required:
Draft an internal memorandum addressed to Joseph explaining why it would be of benefit to him to study accounting.