Here's how you can align your decision making with organizational goals as an accountant.

* **Understand the Organization's Mission and Objectives:** Study the company's strategic plan and financial goals. * **Analyze Financial Data:** Use accounting information to identify trends, risks, and opportunities. * **Consider Long-Term Impact:** Evaluate the potential consequences of decisions on the organization's financial health and reputation. * **Collaborate with Management:** Engage with department heads and executives to gain insights and ensure decisions align with overall goals. * **Document Decision-Making:** Clearly outline the rationale behind accounting decisions and their expected outcomes.

Familiarize yourself with the company’s mission, vision, and strategic objectives. Ensure you understand how your role contributes to these overarching goals.

Conocer a la entidad a profundidad es obligatorio, el tener información financiera de calidad veraz es básico, desde ahí partirá la intervención hacia los socios el saber cual es su norte que persiguen o solo quieren mantenerse en el mercado con sus cifras o crecer, a lo mejor están en su estado de confort y no quieren arriesgar su rentabilidad o verdaderamente quieren incursionar en otros mercados y avanzar.

When comes to cost estimation, management accountants often use the historical cost data for coming out with the costing figures. There are two (2) ways to perform cost estimation: High-low Method and Regression Analysis Method. High-low method accounting is used to estimate the total costs at the maximum (high) and minimum (low) levels of production. Regression Analysis Method is a statistical technique that uses the least-square method to estimate the total costs which takes into account all data points, unlike the high-low method which only consider the highest and lowest point in the data set. Therefore, Regression Analysis Method is a more robust method as this method is less susceptible to biased estimations.

Accountants can make use of various graphical charts such as bar charts or pie charts to communicate the financial insights to their stakeholders. I would still strongly believe that pictures always speak a million words, rather than a whole chunk of words in a report or PowerPoint Slides when conducting a presentation during a meeting or at a conference call. The graphical charts can be easily plotted using excel spreadsheet or making use of data analytics software such as Tableau.

In an organization, there is always a need to foster collaboration as different departments bear different responsibilities. This is known as the responsibility accounting. Responsibility accounting refers to identifying areas within managers’ control and holding them accountable for the performance in those areas. They are often known as the revenue centre, cost centre, profit centre and investment centre. An example of an investment centre is an automobile maker, and an example of cost centre is the Information Technology (IT) department or Human Resources Department. In order to achieve the organizational goals as set out by the board, cross-functional collaboration is ultimately important in any organization.