The financial information that has value is one that has an impact on our actions should be comprehensive, quantitative, reliable and timely.
Financial information is required in the first place: to meet domestic needs and be directed to the company managers who can lead, make decisions and achieve goals. Secondly, you must meet the general needs of a financial nature, aimed at stakeholders who are involved directly with the administration thirdly, should cover fiscal needs.
Financial information must originate from a single source (accounting), must be seen as a product, business support, providing benefit for decision-making and should be effective in terms of their opportunity.
Financial data must be ordered for each particular company and market-oriented, customers, and products involved must be known in detail in order to improve productivity and create wealth. The information department and cost center is needed so that managers can monitor and manage resources to maximize their area. Financial information should include trend analysis, not limited to the comparison of actual results against budget period or to improve profitability.
The results by market, product line or service line to identify resources used for this include: the few receivables, inventories, temporary investments in property, plant, equipment and know its profitability.
Customers are a power group, which imposes conditions such as minimum levels of service, product quality, and, if not longer meet the company compares.
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