Open-book management increases the transparency of information within an organization, which often requires accountants to change
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Open-book management
• increases the transparency of information within an organization, which often requires accountants to change from a mind-set of guarding to shar¬ ing information.
• creates challenges and opportunities for accoun¬ tants to make information understandable to fi¬ nancially unsophisticated employees, which frequently involves the creation of games and meetings.
• decentralizes both authority to make decisions and responsibility for decision results, which can be implemented by tying rewards to performance. LO.1
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Cost Accounting Foundations And Evolutions
ISBN: 9780324235012
6th Edition
Authors: Michael R. Kinney, Jenice Prather-Kinsey, Cecily A. Raiborn
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