The Role of an Accountant in Pricing Strategy Formulation.

Abstract

Today, the most crucial job of any successful business is pricing. Because of the rate at which modern businesses are growing, along with global inflationary trends, the pricing dilemma will take on new dimensions. In every market system where commodities and services are traded, price is the primary motivator of trade; for example, pricing rations out scarce products. When the price of a thing rises, it indicates that there is a scarcity of that good. Price can be used as a guide to avoiding over-pressuring specific commodities. As a result, a growing number of business professionals are taking on leadership responsibilities in pricing decision-making and strategic pricing formulation. Price both signals the direction of desire and serves as a means of distributing manufacturing components. The goal of this research was to assess accountants' participation in pricing strategic formulation. The research was arranged on basis of a cross-sectional survey. Only primary data was used, which was collected from accounting staff of Non-financial sector in Islamabad, Pakistan. All of the data was designed and analysed using cross tabulations, frequencies, and percentages. Pearson's Product Moment Correlation Coefficient (r) and the chi-square (X2) functions in SPSS version 15.0 were used to test hypotheses. According to the paper, accountants play a critical role in strategic price formulation. They (accountants) are also in charge of estimating a company's product worth, as well as the capital expenditure and owner's earning. The research discovered that bookkeepers play a critical part in the development of strategic pricing. They were advised to continue their training and development.