Written by:Diomer Antonio Galán Rincón.
Bachelor's Degree.Public Accounting / MSc.Science of Higher Education.
Author: @dgalan,through Power Point 2010 tool, and using public domain image Pixabay
Entities have always required accounting and administrative processes to be able to issue reliable and safe judgments in order to be able to make indispensable decisions in terms of financial investments. That is why management accounting is a discipline or technique of the accounting sciences that allows the construction of strategic plans in the short, medium and long term in order to consolidate the objectives set by the organization.
From this point of view, it is convenient to mention that the financial operations and actions of accounting exercises carried out by the entity require a quick action in order to have the financial resources at the indicated time, for these reasons, it is necessary to approach the cycle of the daily and major accounting exercise through the support of a management accounting that provides mechanisms for the planning, organization, management and control of finances.
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Accounting has been a fundamental tool in the financial, economic and administrative processes and its auditable operations. Because it is accompanied by management as a determining factor in the correct management of financial resources and decision making.
In this regard, the Accounting Journal EduRed, (2016) states "management accounting improves the continuity of internal productive processes, qualitatively and quantitatively, control, strategic management of costs in all functions and segments of the organization, Hence, its applicability in the entities contributes to the improvement of the process where financial operations are involved.
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Thus, it is essential that the entities develop the accounting process adjusted to policies inseparable from management accounting as an instrument that guides the accounting management adequately.
In this regard, it is very important that companies should have an auditable control system for financial operations, in order to facilitate their verification and the feasibility of records for decision making. In other words, management accounting is required to guide the process effectively and direct the data of such operations towards strategic decisions that favor the future performance of the company.
I hope you like my article and I would appreciate all your comments.
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