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To achieve these objectives there are several tools that are utilized to include: controlling the accounts payable, receivable, job costs and inventory through a series of ledgers. This is important, because it is showing how an organization can be able to use these ideas to help improve productivity and efficiency. This is the point that the operating margins of the firm will begin to decline. Once this takes place, is when the company can most effectively adapt to changes inside the sector. (Stout, 2009, pp. 195 -- 217)
At the same time, we will be implementing a procedure that will control the cash flow of the project. This is designed to ensure that there are sufficient amounts of funding to address the needs of the division. While being able to, monitor where various expenditures are taking place. The way that this is accomplished is through looking at a number of factors that are directly associated with the cash flow. These include: the total costs, billings, payables, receivables and the cash position. The combination of these elements are important, because they are showing...
(Stout, 2009, pp. 195 -- 217)
If these procedures can be implemented by the division, they will have a positive impact on productivity and profits. The reason why, is because they are focused on monitoring and controlling the total amounts money that they are spending. Once this has been implemented, is when this segment will start to contribute to the underlying amounts of growth for the company. This is the point that they will become an integral part of the organization and the strategy that they are using to achieve their long-term objectives.
Bibliography
Hendrickson, C. (2008). Project Management for Construction, Cost Control, Monitoring, and Accounting Chapter 12. PM Book. Retrieved July 26, 2010, from http://pmbook.ce.cmu.edu/12_Cost_Control,_Monitoring,_and_Accounting.html
Stout, D. (2009). Instructional Case: Estimating Learning-Curve Functions for Managerial Planning, Control, and Decision-Making. Issues in Accounting…
Bibliography
Hendrickson, C. (2008). Project Management for Construction, Cost Control, Monitoring, and Accounting Chapter 12. PM Book. Retrieved July 26, 2010, from http://pmbook.ce.cmu.edu/12_Cost_Control,_Monitoring,_and_Accounting.html
Stout, D. (2009). Instructional Case: Estimating Learning-Curve Functions for Managerial Planning, Control, and Decision-Making. Issues in Accounting Education, 24(2), 195-217.
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