The relationship between politics and healthcare
what is the relationship between politics and healthcare? How do stakeholders play a role?
Information is important in management decision making. The objective of the management accounting system is to provide the best information for assessments of the amounts, timing and uncertainty of cash flows to the business from each alternative course of action available to the business.
The purpose of management accounting involves identifying the types of decision needed in management accounting in order to provide useful information for managers.
The main types of decision include:
- Output decision-These are decisions on what types of goods or services should be supplied, at what prices and in what quantities.
- Input decision-These are decisions on how the outputs should be produced, i.e. the allocation of quantities used in raw materials, labour etc.