TABLE OF CONTENTS Ask any business manager what is important to a business and they will highlight issues such as increasing sales, reducing overheads, promoting the brand and a range of other activities with which most can associate. Many would see it as desirable that they are left alone with the task of growing the business and making it a success, but we must remember that the majority of stakeholders are not a part of these day-to-day activities, and yet remain essential to the business. If the bank will not lend us money or shareholders demand an excess return of their investment this will threaten the entity's existence.
Consequently the accountant can be seen as a translator converting the day-to-day transactions of a business into a diet that will satisfy these other consumers. Their task is considerable as the volume of transactions completed by many of the multi-national conglomerates of this global age is enormous. As an example think of the steps associated with making a single sale, and match them to those shown in Figure 2.1.
The bank does not want to know about a particular sale, unless it is a make-or-break...
