Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Business
Six Levels Of Financial Knowledge, George E. Manners Jr.
Six Levels Of Financial Knowledge, George E. Manners Jr.
Faculty Articles
With the appropriate framework to shape financial knowledge, the management accounting function should become an organization's principal decision-support platform. The framework consists of six levels of financial knowledge, and the word "financial" is most operative here. The Level 1 knowledge base connects a business to the outside world. When you have output volume and variable cost per output unit, you have the basis for Level 2 vocabulary. When a business transitions to Level 3, it has learned that return on assets must be employed as the enterprise's guiding profitability gauge. There is a very distinct increment in knowledge when moving …
Management Accounting & Academe, Heather M. Hermanson, Dana R. Hermanson
Management Accounting & Academe, Heather M. Hermanson, Dana R. Hermanson
Faculty Articles
Management accounting offers rewarding research opportunities. If researchers are able to identify more efficient ways to analyze internal accounting data, these new methods can be adopted immediately by interested companies. Breakthroughs in management accounting research do not have to filter through a standard-setting body before they can have an impact on practice. Due to the absence of management accounting rules, the great demand for management accounting research, and the availability of management accounting data, it is not surprising that academic research is beginning to drive the field of management accounting.