Relevance of Management Accounting in Today's Society Research Paper

Relevance of Management Accounting in Today's Society - Research Paper Example Other departments such as production, quality, technical, marketing, engineering, purchasing etc had little information about the accounting procedures and information. However, the development of scientific management techniques in the corporate world stressed the importance of spreading accounting information to the entire departments of an organization to improve the efficiency of the organization. Earlier financial accounting, cost accounting etc were some of the renowned terms in the corporate world; however, at present apart from these accounting systems, management accounting is also gaining prominence. What is Management accounting? Management accounting combines accounting, finance and management with the leading edge techniques needed to drive successful businesses. It advises managers about the financial implications of projects, explains the financial consequences of business decisions, formulates business strategy, monitor spending and financial control, conduct internal business audits and explain the impact of the competitive landscape (What is Management accounting?) Man, material, machine and money are the major resources of an organization which should be managed properly to raise the productivity and efficiency of an organization. All these resources were earlier managed by concerned employees and department managers alone. For example, production workers and managers were responsible only for the production management whereas purchasing manager and employees were responsible only for the materials management. In other words, all the managers and employees were bothered about their assigned duties alone earlier. They never thought about the consequences of their activities. For example, earlier production people often stopped their production activities even for silly problems of the machineries since they were unaware of the impacts of such stoppage of production to the organization. Even an hour long production loss may cause substantial damages to the organization. After the development of scientific management principles in the 1990â€℠¢s and the subsequent development of management accounting, production workers also started to get the exact information about the losses incurred by the organization even for an hour long delay in production. In other words, the production workers started to realize the depth of problems caused to the company due to their deliberate production delaying activities. The above awareness force production employees to avoid such unnecessary delay or stoppage in production thus the company would be benefitted immensely from that. Not only the production department, all the other departments can also improve their efficiency and productivity if they get accounting information. â€Å"Management accounting systems were made in conjunction with scientific management movement† (Johnson, 1991, p.10) and moreover, it succeeded in revealing the importance of sharing accounting information to other departments in order to make the employees aware of the consequences of their activities and to improve the productivity of the organization. According to Johnson (1991), â€Å"management accounting system serves as a two way communication link between the senior and subordinate managers†(Johnson, 1991, p.4). It is impossible for the top managers to take decisions based on the data available to them alone. Data may not guide the manager always in the right direction. Feedbacks from the top and bottom are necessary for the managers to take sound decisions. Employees often twist the information before passing it to the top management,

Crisis Communications Paper on MS13 Gang Violence Essay

Crisis Communications Paper on MS13 Gang Violence - Essay Example This radical change in this field caused the mankind inviting many problems as well as solutions to deal with them. Appropriate communication during the time of crisis plays a pivotal role to manage the situation effectively. As at the time of crisis the emotions are at their highest level because of stress which often makes people behave in an erratic way. Confusion creeps in their mind to manage the crisis and at that time effective communication skills comes to their rescue. Crisis situations may vary in their nature such as a disastrous situation due to a natural calamity or a terrorist attack or even violence caused by the street gangs and many others. All these situations demands prompt actions which in turn can lead to wrong moves. "Adequate coping skills along with other balancing factors, such as realistic perception of the event and social support can help minimize overreaction"(Radziewicz, http://www.conversationsincare.com/web_book/chapter03.html). In recent days youth ga ngs are mushrooming at many places causing havoc in the society with their violent deeds. One such deadly and violent youth gang of United States and of Central America is MS-13 which poses a threat to the life and liberty of the people. Mara Salvatrucha abbreviated to MS-13 derives its origin to the Civil War of El Salvador in 1980s which caused a million of Salvadorans to emigrate to USA and settle there as refugees. These immigrants in USA faced a bitter opposition from the Mexican gangs formed by other immigrants settled there earlier which prompted the Salvadorans to form their own gang for defending their existence. But soon the gang expanded and became the largest gang symbolizing violence and barbarism to their peak. "Composed of mostly Salvadorans and other central Americans-many of them undocumented -the gang has a uniquely international profile It's considered the fastest growing, most violent and least understood of the nation's street gangs" (http://www.msnbc.msn.com/id/7244879/site/newsweek). Unlike other gangs the members of MS-13 are very flexible in their activities. They are into various fields of crimes specializing in extortions, drug and arm trafficking, homicides, cross border human trafficking, theft and so on. "Mara Salvatrucha members have tattoes on most of their upper body, including the arms and face, with lettering done in Gothic (Blackletter) style. The "MS" and "13" is always tattooed on them. (This has resulted in the arrest and detention of many people, first in Honduras then in El Salvador for illicit association based entirely on the fact that they are wearing tattoos associated with gang membership) (http://en.wikipedia.org/wiki/Mara_Salvatrucha). The members of MS-13 are relatively fearless compared to other gangs and shows zero tolerance to the persons who became informant to the cops about their misdeeds. Even they act defiantly without being intimidated by the law enforcement officials easily. The members who abandons the gang is brutally killed by other active members. They impose rent on the people in the locality in which they live in lieu of guarranty of the security of the locals from the threats of other gangs. They are quite adept at using exlosives, firearms and grenades. Having been trained in guerilla warfare the MS-13 members frequently change their places

Operation Management Case Study Essay Example | Topics and Well Written Essays - 2000 words

Operation Management Case Study - Essay Example Consequently, the total number of clients that the Seven Hills Hotel had to attend to during the conference was 810 clients. Seven Hills Hotel was the hotel approached by the events planner at Global Events Company to host these delegates during the entire period of the conference. Apparently, some mishaps happened during the organization process that made the entire conference turn up as a disaster (Amason, 2011). The case study provides complications in operations management in two major organizations involved in the organization and planning of the conference. The first organization is the Global Events Company, an events planning company contracted by Glo-Tech to arrange the event, and Seven Hills Hotel, the hotel approached by the events planner to host the event. Global Events Company experienced operational problems from the moment it failed to analyze the situation at the hotel first before contracting it to be the host of such a major event. It was apparent that the conditions of the hotels were not favorable to host clients of such large numbers. In addition, the location of the hotel was inappropriate, as it was both unsecure, as well as unapproachable (Belda, 2006). These aspects would have automatically ruled out the hotel as the best choice to host such an event. On the other hand, operations problems also emerged from the lack of appropriate communication between the organization and the hotel about the nitty gritty details of the clients they were expecting. For instance, the company failed to give the hotel the exact date from which to expect the clients, the total number of clients to receive, as well as the dietary specifications of each client expected to attend the conference. This in turn made it difficult for the hotel to plan appropriately on how best to host all the delegates. In addition, the company failed to plan for the best routes to use while transporting delegates from the airport to the hotel (Dennis and Harris, 2008). It is

Accounting assignment ( memo to the manager ) Example | Topics and Well Written Essays - 500 words

Accounting ( memo to the manager ) - Assignment Example The market it covers expands from Middle East to North Africa and all the way up to North America. The company has its offices in a number of countries including United Arab Emirates, Saudi Arabia, Lebanon, Egypt, Pakistan, Turkey,  China, USA, Canada and United Kingdom. Emaar has consistently maintained its financial position and stability. The numbers on the financial statement indicate a slight decline in revenue from 30th September 2007 to 30th September 2008 (1.62%). Although the revenue has declined slightly, the net profit has gone up by (0.4%). This indicates that the cost of revenues has gone down. From the company’s perspective, this shows that they have controlled on their costs. However, an interesting feature to note in the financial statements is that ‘selling, general and administrative expenses’ form a considerable portion of the overall expenditure both in 2007 and in 2008. Moreover, the ratio of selling and administrative expenses to the gross profit stands out to be (29.5%) and (29.1%) in 2007 and 2008 respectively. This indicates a very high proportion and is reducing the profitability considerably. In order to control these expenses, we first need to analyze the composition of these expenses. Selling, general and administrative is the sum of all direct and indirect selling expenses and all general and administrative expenses incurred by a company. Selling expenses are of two types, direct and indirect. Direct ones are those which can be linked with the sale of a specific unit. This would include warranty, advertisement or credit expenses. Indirect ones are those which cannot be allocated to a sale of a specific unit but is applied to all units in proportion. This would include telephone and postal charges. Whereas, general and administrative expenses include other expenses such as rent, heating, lighting and salaries of non-sales personnel (Investopedia). High SG&A expenses can be

Kent Cars Ltd Essay Example | Topics and Well Written Essays - 2500 words

Kent Cars Ltd - Essay Example At the outset, a shareholder of a private limited company may find himself helpless and locked into the company. Under this scenario, a shareholder who is unable to exert control within the company becomes vulnerable. By taking advantage of his weak position, the controllers of the company at the expense of the non-controlling shareholder, may wield enormous power and authority in administering the company. (Vries 2010:1). The Articles of Association of a private limited company will always consist of some restrictions on transfer of shares. Normally, provisions in the Articles or Table A empower the directors of a company some limited rights to turn down transfer of shares in case of partly paid-up shares. As in the case of fully paid-up shares, such a restriction will be of technical nature only. As the operation and the management of the majority of small companies is wholly reliance on the prolonged good relations between the members of the company to such a magnitude that such c ompanies are frequently no more than partnerships but disguised with a corporate form. Hence, it is significant for the directors or members of such companies to place severe restrictions upon the transfer of shares as it will be tantamount to change in ownership. These restrictions will generally assume the form of the granting of pre-emption rights in favour of the present members of the company which is similar to the statutory pre-emption rights applicable to allotment of shares. The general procedure for transfer of shares in a private limited company is that any member who wants to dispose off his shares should give a notice first to the company. Such Notice will automatically make the company as the member’s agent for the purpose of first offering of shares to the present or existing members of the company in the ratio to their present shareholding. This connotes, by the proposed transfer of shares, the equilibrium or balance between the existing members of the company is protected, presuming that the members in question will have the opportunity to source the needed capital to acquire such shares offered. The following points should be kept in mind in case of transfer of shares of private limited companies; Great care should be given to make sure that the needed procedure is carefully adhered to in case of a transfer and if transfer of shares are expected or if the directors of a company receive notice from a member of his intention to transfer of shares and in such event, immediate reference is to be made to the conditions provided in the â€Å"AOA† † (Articles of Association of the company)†. The most common source of the tussle between the member who wishes to dispose off his share and the other members or directors of the company pertains to valuation of shares. Normally, the Articles of Association will contain a provision that in such scenario, the valuation of shares shall have to be made either by an independent expert or by the statutory auditor of the company where it is provided so and in cases where parties could arrive at a fair price or valuation. If the offered

Symptoms of Bipolar Disorder Essay Example | Topics and Well Written Essays - 1250 words

Symptoms of Bipolar Disorder - Essay Example Patients’ successful coping with treatment and medication can change the course of depression (Lam et al, 2000). Bipolar disorder consists of several symptoms, some of them being prodromal or predicting the onset of an attack. The purpose of this paper is to critically examine the symptoms of bipolar disorder based on research. Hence, three empirical research articles from peer-reviewed scientific journals will be summarized, and an overview of the research findings from all three studies will be detailed. The distinctive features of bipolar disorder have been determined from earlier research studies. Some reverse neurovegetative symptoms such as hypersomnia or excessive sleeping, hyperphagia or overeating; melancholic symptoms; suicide risk during the depressed phase; irritability, anger, overactivity and psychosis are associated with bipolar depression. The clinical predictors of the disease are early onset of symptoms, bipolar family history, and hypersomina (Perlis et al, 2006). Relapses are likely to occur after long distance traveling when undergoing a jet lag, or from disorder and deviation in the pattern of daily routine (Lam et al, 2000). The main recommendations put forth by the American Psychiatric Association (APA, 2000) for cognitive therapy are the early detection and treatment of prodromal symptoms, the maintenance of regular social interactions and sleep routines (Lam et al, 2000). Research investigations focusing on the symptoms of bipolar disorder are crucial for developing preventive interventions as well as optimally effective therapies for the mental illness. This empirical research was conducted by Simon et al (2008). The authors studied the phenomenon of mood symptoms in people with bipolar disorder, and evaluated how the symptoms related to work productivity. This is a significant topic for research because bipolar disorder being a major cause of disability leads to increased likelihood for loss of

Islamic ART Essay Example | Topics and Well Written Essays - 1500 words

Islamic ART - Essay Example One of the fundamental features of Islamic art that sets the tone for the bulk of the collection (though the objects on display are not all Islamic, with also Christian cultures like Egyptian Copts being represented) is the tendency for aniconism, which means unacceptability of images featuring God (for Islam doesn’t actually have a clear visual representation of the latter), human beings or animals. Since the dawn of Islam, the God was perceived as a â€Å"great shaper†, i.e. the only one entitled to endow shape to living beings; thus, the person painting the latter literally encroached divine powers of the God (___). Given strong aniconistic tendencies, Islamic art had another focal features contributing to its authentic nature: these are lavish use ornamentation – predominantly geometric elements and various floral ornaments – and extensive use of Islamic calligraphy. As the objects of art show us, calligraphy is not only a purely practical phenomenon, but also a peculiar Islamic art, a significant cultural attribute of Islam playing an essential role in artistic representations of Islamic culture throughout history. Probably, calligraphy is what would definitely help distinguish an Islamic art object from others, along with orations and lavishness in adornment. This field of Islamic art formed on the basis of Qur’an copying and is therefore the seminal and inseparable part of Islam itself; moreover, Arabic is considered sacred, for it is the language of the Qur’an revelation to the Prophet and is the means for preservation and communication of the message of God. First used for religious purposes only, it later transformed into art and became an integral part of visual art. The Met exhibition features an enormous number of Qur’an folios that were created in different periods beginning with the rule of Umayyads and later. Particularly, a good example of a Qur’an