Managers make decisions that govern how a company reaches its goals.

Many of these goals

have financial aspects, such as revenue and profit targets. The level of costs included in
such decisions has a major impact on the finances of the company. Reliable reporting of
actual costs, accurate estimation of projected costs and the appropriate integration of such
costs in managerial decisions is a key component of business operations that meet their
targets and further the goals of the company. (Markgraf, 2016)