The Impact of Managerial Accounting Tools in Decision-Making
The Impact of Managerial Accounting Tools in Decision-Making

Author(s): Rebeca Ioana Bostan, Silviu Constantin Nastasia, Anca Marta Ciobanu
Subject(s): Business Economy / Management
Published by: Editura Lumen, Asociatia Lumen
Keywords: management accounting; decision making; accounting tools; dashboard; performance;
Summary/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.

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