The Impact of Managerial Accounting Tools in Decision-Making

Rebeca Ioana Bostan (bostanrebeca@gmail.com), Silviu Constantin Nastasia (sc.nastasia@gmail.com) and Anca Marta Ciobanu (marta_ciobanu6@gmail.com)
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Rebeca Ioana Bostan: Valahia University of Targoviste
Silviu Constantin Nastasia: Valahia University of Targoviste
Anca Marta Ciobanu: Valahia University of Targoviste

Chapter 25 in International Conference Globalization, Innovation and Development. Trends and Prospects (G.I.D.T.P.), 2020, vol. 10, pp 221-233 from Editura Lumen

Abstract: Any decision involves an elementary logical decision-making process that consists in gathering information, choosing certain alternatives, taking into account future benefits and costs, and evaluating the results obtained. The decision-making and the initiation of actions for the operationalization of the decisions are made under the conditions of more and more intense challenges and pressures, inside and outside the organization, therefore one of the solutions the manager has to use to make her own activity more efficient is to harness relevant and operative information. It is important that a decision is taken when there is a discrepancy between the current situation and the desired results, and the decision-maker is aware of this discrepancy and is obliged to change it. The paper presents general aspects of managerial decision making, useful tools for managers to analyze the influence of cost factors in decision-making, the way in which accountants prepare their useful information in substantiating decisions. Of the many instruments used for decision-making, the scoreboard plays a fundamental role. The dashboard is recommended in any managerial situation where managers adopt a certain decision-making behavior. In the category of management tools used in the management process, the dashboard is one of the methods that should not be missed by any manager.

Keywords: management accounting; decision making; accounting tools; dashboard; performance (search for similar items in EconPapers)
JEL-codes: D8 F6 I2 O1 O3 (search for similar items in EconPapers)
Date: 2020
ISBN: 978-1-910129-23-4
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Persistent link: https://EconPapers.repec.org/RePEc:lum:prchap:10-25

DOI: 10.18662/lumproc/gidtp2018/25

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