At first, accounting is strange for me as I have zero knowledge about this topic. It gives me the impression that it is difficult and I have never thought of taking accounting as my special subject in second semester. But during the past few months, accounting has taught me a lot of things. I’ve learned that accounting affects business and how it allow organizations to identify cash inflows and outflows.
Accountants identify, measure, accumulate, analyze, prepare, interpret and communicate information that helps managers fulfill organizational objectives. With increased competition and consequent economic pressures, management accounting has become part of the primary fabric management. There is no denying the fact that an organization’s success or failure is dependent on the quality of information made available to the management.