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Guide to management accounting principles
This PAS gives guidance for organizations on assessing the performance of the management accounting function.
It covers the four management accounting principles that:
communication provides insight that is influential – encouraging insightful communication that drives better decisions across an organization;
information is relevant – reviewing past, present and forward looking performance management information;
impact on value is analysed – understanding an organization’s strategy and business model; and
stewardship builds trust – balancing short-term commercial interests against long-term value for stakeholders.
This PAS is for use by all organizations, including but not limited to; large, small, public, private, local and international and their investors and stakeholders.
NOTE It is aimed at those responsible for providing and delivering management accounting functions, including chief executives, chief financial officers and other board members.
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