Question

G To what extent do managers need to have experience in accounting and with financial statements?

Answer 1

Answer:

The question seems to have missing parts which I could not find on the internet, however I have tried to answer the part available as below :

To a greater extent,  managers need to have experience in accounting and with financial statements to understand their Decision Implications on Profit and to communicate with the Public and Stakeholders well.

Explanation:

Experience with Accounting and with Financial Statements are very important in that understanding these, Managers would be well aware of their Decision Implications on the bottom line - Profit. The performance of every manager can be traced back to items  that where within their control and these are shown in financial statements. The financial statement is also a vital document when the Company is communicating to the Public or to other Stakeholders and as such Managers need to be aware of. Some Managers are Sole Traders who need to have experience with accounting and with financial statements among other skills.

However, Mangers are not expected to be good at everything and they may be hired for one specialty such as strategy or marketing. In that case more time must be devoted to leave up to their role and leave the details of Accounting and Financial Statements to those hired for that specialty.

In conclusion it is to a greater extent,  managers need to have experience in accounting and with financial statements to understand their Decision Implications on Profit and to communicate with the Public and Stakeholders well.