MANAGERIAL ACCOUNTING

Managerial Accounting

Managerial Accounting

1)Decision making is management's most important function

There is a fundamental question that we rarely answer: 'Are intelligent people capable of better thinking?' The assumed answer is 'yes', because that is part of our definition of intelligence. An intelligent person is someone who seems more capable of decision making and thinking than other people.

Yet in my experience across a very wide range of people (from Down's Syndrome youngsters to Nobel prize laureates; from four-year-olds to ninety-year olds; from illiterate miners in South Africa to senior executives in the world's largest companies, etc.) the obvious answer is not true.

There is ...