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Managerial Information for Managerial Information from Recordkeeping System in an Agri Business
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All the records that a business keeps are important information that is used to analyse the state of the agri-business. It is important to read and understand the information that is given in these reports. It will assist the owner to make decisions about the business.
Management will use the information recorded in the system to make important further business decisions. The management might want to know on a monthly and yearly basis if the business is making a profit. The management also wants to know if the assets and owner equity is growing year after year. The business management uses records to make the following decisions:
- Is the business profitable?
- Is the business growing?
- Where can we save on costs in the business?
- What can we do to maximise our income opportunities?
- What can we change in the future in order for our business to be more profitable?