Question

Why is it important for MBA and MSc students to have a working knowledge of accounting? PLASE ANSWER IN PROFESSIONAL WAY WITH EXAMPLES

Answer 1

Importance of accounting knowledge for MBA &e mse students. 1) After passing out from an MBA school (or after completing usc, these students co are going to face several decision making situations in the organisation they are going to work. 2) In many cases, accounting information has a direct impact on the decision making proces. 3) Analysis of Cost: The information obtained thorough accounting can be utilized by to management take a decision about what should be sold & how it should be sold a for example advertising costs vary for each product & each medium ce ignoring Common cost what decision could be made can be easily concluded. The game kind of decision making process also can be applied in case of adding new product lines,

4) costing based on activities; whom the products need to be sold should be determined prica to the making of a what products to be sold. The activities involved in producing ce servicing products can be planned with costing methods based on activities. By knowing which type of customers are more profitable && which type of customers are less profitable, the focusing area of business can be deteamined . 5) make / bug decisions Accounting information can be used into pash to decide whether to make a Component on buy an existing one from. the market for