As an accountant not being in the loop even on the technological side
can cause miscommunication issues in the future. Not only
miscommunication but not being in the loop can affect how the financial
statements are presented and could be inaccurate depending on how much
information the accountant wasn’t privy too. Working with the information
system specialists can help accountants gather necessary information to
complete their job. Gathering relevant information is key when approaching
the decision-making process, but it’s important to identify how much
background information is truly required. “An overload of information can
leave you confused and misguided, and prevents you from following your
intuition,” according to Corporate Wellness Magazine. (Harrington, 2017)
Not having an accountant privy to certain information can hurt the
organization and could lead to potential fines, lack of trust, employees
quitting due to lack of understanding between departments.
I think accountants should 100% be involved in producing reports that
include more than just financial measures of performance so they can report
to investors and management where and what goals that need to be
incorporated to increase revenue, to attract potential investors etc. With
accountant’s previous experience with maintaining ledgers, they can
provide excellent insights into business improvement purposes. Decision
making is a vital skill in the business workplace, particularly for managers
and those in leadership positions. Following a logical procedure like the one
outlined here and being aware of common challenges can help ensure both
thoughtful decision making and positive results. (Harrington,2017)
Harrington, J. (2022, November 9). 7 Steps of the Decision Making Process.
CSP Online. https://online.csp.edu/resources/article/decision-making-
process/
