Question

Role of accounting in business

Answer 1

Management accounting plays a key role in helping managers carry out their responsibilities. Reports are tailored to the needs of individual managers, and the purpose of such reports is to supply relevant, accurate, timely information in a format that will aid managers in making decisions.

Answer 2

Because it communicates so much of the information that owners, managers, and investors need to evaluate a company's financial performance. ... In fact, the purpose ofaccounting is to help stakeholders make better business decisions by providing them with financial information.