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This is also a problem that must be addressed at the trustee level, rather than the treasurer level. Although these realities push this lower down the priority list, a medium-term priority should be to provide estimates to the trustees of the future funding levels required so that they can seek these funds in advance of the actual demand increases.
High employee attrition rate. This is not specifically a treasury issue, so it is lower on the priority scale. However some of the steps that are recommended, for example with regards to segregation of duties, should assist in this area as well. It should be noted that the attrition rate does impact on the efficiency with which resources are used, so it remains a priority, even if at a lower level. If any way to reduced attrition becomes apparent, that suggestion should be made and...
This involves expanding somewhat beyond the role of Treasurer, but it will yield tangible financial results so is within the broader mandate of the position.
The highest priority therefore is to address the segregation of duties first. The operational issues must also be addressed immediately. In the longer term, changing demand and the need for better technical resources are also priorities. The high employee attrition rate is the lowest priority but is one that can be addressed incrementally, simultaneous to the other initiatives. It is important that as Treasurer I focus on the core of my issues, which relate to the charity's financial position. The prioritization of issues is affected by the degree to which these broader managerial problems impact the financial capabilities and efficiency of the organization.
Managerial Accounting -- Budgeting 1 & (1) Is this a static or flexible budget? Since many of the budget line items are based on student enrollment, this budget format is considered to be a flexible budget. The costs of providing instructors and associated benefits is fixed by the state with regard to the ratio of students to teachers, and students per classroom (which is more a function of fire codes and building
Managerial and Financial Accounting Case Managerial Accounting - Variable Costing Managerial accounting emphasizes short-term profit analysis, income statement important. Consequently, 'll examine discuss income statements case. Managerial and Financial Accounting Financial and managerial accounting basic difference comes on the uses. While, financial accounts are prepared for use by external parties, managerial accounts are prepared for use internally. The process of preparing the accounts in both financial and managerial accounting use similar source for
Greater emphasis must be placed on studies to highlight the factors which affect the diffusion of these managerial accounting techniques which can increase an organizations productivity, efficiency and competitiveness. (Tan, 2002, p. 226) Innovative academic researchers and managers should pave the way for a scientific management movement which can lead to the design of management accounting systems which are significantly different from the traditional ones. (Johnson; Kaplan, 1991, p.
Financial Accounting Financial accounting is mainly concerned with the financial statements that are given to the stockholders, lenders, financial analysts as well as other important factions outside the company. The accounting principles come hand in hand with financial accounting since they are used in reporting the results of the corporation's past transactions. These transactions are reported on balance sheets, the statement of changes, the statement of cash flow, and the income
The applicability of Activity-Based Costing for decision making is directly linked to the influences that ABC has over process control. In this order of ideas, by better identifying the incurred costs or the overhead, managers can better monitor and control the evolution of products, prices, costs and consequently, profits. ABC identifies the costs incurred by each item in terms of resources consumed. Therefore, with the aid of ABC, organizational managements
"Management believes that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods." Based on the data retrieved and the projections made, the accounting division will proceed to the development of the consolidated statements for all of GM subsidies and the overall group.