How Accounting Data Aids Managerial Decision Making

Making decisions and finding appropriate methods to facilitate these decisions is the primary role of managers across companies worldwide. The types of decisions differ from business to business and industry to industry, but they all affect the long term success of an organization.

The old adage "hindsight is 20/20" refers to actions making sense once it has already happened. While it's easy to look back at a poor move in a game of checkers and make sense of your decisions, there is a lot more data involved in making sense of decisions made in a business setting.

In order to achieve this "20/20" insight into the performance of your business, you must have all of the data methodically recorded and segmented in a meaningful way. In order to achieve the production of meaningful data, you need to have a system that is relevant to how you operate on a daily basis.

Powerful software allows businesses to generate meaningful reports in a timely manner and allows you to answer the questions that you need in order to make educated decisions.

• Are we doing well?
• Are things improving?
• Are we making money? How much?

• Did the recent advertising investment increase revenue?
• What is the balance of our Accounts Payable? Accounts Receivable?
• What is our listing inventory?
• Which agents owe us money? Who do we owe?
• What is the commission split we have with Agent Andy?
• Did we get the funds in escrow for the deal closing today?

While a standard accounting system can provide you the simple information like accounts payable and receivable, a system designed for your business practices will provide you with the relevant information needed to operate successfully.

brokerWOLF is a powerful brokerage application designed to manage all accounting and back office functions of a real estate office. Created with the end user in mind, it's a simple yet comprehensive program that provides a complete back office management solution in an integrated program that combines accounting with transaction data to provide unrivaled real-time reporting capabilities for the broker and administration staff.

Don't undermine your business and your accounting practices by adopting a system designed for everybody. Get exactly what YOU need to make important decisions.

To view the original article, visit the Lone Wolf blog.