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The June issue of Strategic Finance Magazine has an interesting article called, "Provide Insight or Face Extinction," by Noah P. Barsky and Anthony H. Catanach Jr. The main theory is the traditional accounting equation, and how it should be changed to provide information for decision making. For five centuries its focus has been on accumulating, processing and reporting the results of economic activity for many types of organizations. Recently, due to increased competition and advances in industry, it has been suggested that we reconsider the usefulness of this equation. Managers have always recognized that in order to make good business decisions they need proficient information. Information however, can only be gathered by assessing collected data, and adding personal insight, if it is to assist the decision making process.
Approximate Word count = 464
Approximate Pages = 1.9
(250 words per page double spaced)
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