Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

based on this article, explain how important BUDGETING in management accounting practices. ***Min 500 words*** Not prepare Less prepare Not sure Always Prepare Very Much

image text in transcribed

based on this article, explain how important BUDGETING in management accounting practices.

***Min 500 words***

Not prepare Less prepare Not sure Always Prepare Very Much Prepare Table 4: Percentage of the tasks needed performed in Management Accountant Practices No Tasks Frequency (%) 1. Strategic Management Accounting 25 20 2 Budgeting 18 20 3. Financial Accounting 19 15 4. Product Costing and Calculation 47 17 5. Performance Measurements 21 23 6. Human resources management 28 25 7. Transfer pricing 54 18 8. Standard Costing 48 18 9. It and Information Systems 34 26 10. Reporting 14 12 36 37 36 13 30 10 8 6 21 21 11 16 17 19 7 9 17 24 2 5 14 6 6 2 23 22 6 11 19 44 Table 5: Tasks that most needed in Management Accountant Practices No Tasks Frequency (%) 1 Reporting 44 2. Budgeting 37 3. Financial Accounting 36 Strategic Management Accounting 36 5. Performance Measurements 30 6. Human resources management 22 7. It and Information Systems 19 8. Product Costing and Calculation 13 9. Standard Costing 11 10. Transfer pricing 6 Table 6: Skills that most needed in Management Accountant Practices No Skills *Mean (%) 1. Creativity 2. Communication ability 4.8 3. Ability to work in group 4.9 4. Dare to take on responsibility 4.9 S. Negotiation ability 4.8 6. Qualities of leadership 4.8 7. Critical thinking 8. Positive thinking 4.8 9. IT competence 10 Knowledge/interest in the line of business 4.8 *Notes for scale: himportant very important

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Cassy Budd

13th International Edition

1265042616, 9781265042615

More Books

Students also viewed these Accounting questions

Question

What role do hormone levels play in mood?

Answered: 1 week ago