From the course: Accounting for Managers
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Understanding dashboards
- In the modern world managers must embrace the culture of data driven decisions, and accounting information is an integral part of this. As you may know, accounting is bigger than just finances. In a management context, it's about preparing and presenting both financial and non-financial data in a way that allows managers to better plan and make decisions. A really neat way to do this is having something called a dashboard. Okay, this may seem obvious given dashboards appear to be everywhere nowadays, but, in my experience, they are often poorly prepared. I attribute this to the ever-growing availability of tools that make it almost too easy to create dashboards. Over-zealous practitioners tend to start dragging and dropping charts like an enthusiastic puppy dog at its first trip to the beach. Allow me to share a story with you. I was working with a client of mine, whose management accountant had prepared a dashboard with…
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