1.Why is understanding the difference between policies & processes and records & reports used in accounting an important duty of international business managers?
Policies and process are basically the rules and guidelines for accountants to remember when performing their daily duties in an accounting role.How those duties are performed depends on the records and reports.Math is only used when using certain records and reports.
A good business manager knows the exact job the accountants are supposed to be doing how to plan for the money accounting tells them exists,how to report money management to investors,and how to do all of that within the limits of the law.