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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 811 |
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The adage "practice what you preach" came to mind when reading through this section of the article. Open communication and disclosure of financial information about the company are excellent ways to gain trust and loyalty among its personnel. Law firms tend to be rather proprietary with information and that often gives employees the impression that some things are being withheld...
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There are "levels" of information that may be disclosed within the firm and there often seems to be an air of secrecy for some reason. As an office administrator I find this frustrating, not because I want more information, but because I don't always see the need for secrecy.
Finally, Lebovits proposes that organizations should also encourage pushback...
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General points of the essay
discuss the role of the financial accounting and managerial accounting functions in organizations
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The statement of financial performance is based on data relating to past transactions and events. Hence the statement of financial performance is of no use to an investor’s decision making process.
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