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Management Account in the Public Sector and

Words: 2226 Length: 8 Pages Document Type: Essay Paper #: 99217837

Management Account in the Public Sector and Management Accounting in the Private Sector: A Comparative Review

The late 20th and early 21st centuries have brought increasing change to almost every country in the world, Australia included. Globalism describes, in fact, the increasing unification of the world through economic means (reduction of trade barriers, support of international trade, and mitigation of export and import quotas). They goal for globalization is to increase material wealth and the distribution of goods and services through a more international division of labor and then, in turn, a process in which regional cultures integrate through communication, transportation and trade. The overall theory is that if countries are tied together cooperatively economically, they will not have needed to become political enemies. Additionally, the idea of globalism and international trade has changed the way Australian's view public and private businesses and the opportunities afforded them because of investment,…… [Read More]

Works Cited

Alexander Performance Management, Inc. 2004, Private vs. Public Sector, viewed May 2012, .

Broadbent, J & Laughlin, R 1988, 'Public Private Partnerships: An Introduction', Accounting, Auditing and Accountability Journal, vol 16, no. 3, pp. 332-41.

Financial Accounting Standards Board 2012, Convergence with the International Accounting Standards Board, viewed May 2012,  http://www.fasb.org/international/convergence_iasb.shtml .

Funnell, W & Cooper, K 1998, Public Sector Accounting and Accountability in Australia, University of New South Wales Press, Sydney.
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Accounting Function for a Chosen

Words: 6160 Length: 23 Pages Document Type: Thesis Paper #: 22760906

"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."

ased 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. There are 24 consolidated statements, as follows: Discounted Operations; Asset Impairment; Investment in Nonconsolidated Affiliates; Marketable Securities; Variable Interest Entities; Finance Receivables and Securitization; Inventories; Equipment on Operating Leases; Income Taxes; Property - Net; Goodwill and Intangible Assets; Other Assets; Accrued Expenses, Other Liabilities and Deferred Income Taxes; Long-Term Debt and Loans Payable; Pensions and Other Postretirement enefits; Commitments and Contingent Matters, Stockholders' Equity; Earnings per Share Attributable to Common Stocks; Derivative Financial Instruments and Risk Management; Fair Value of…… [Read More]

Bibliography

1. 2007 General Motors Annual Report. Page 9. On the Internet at  http://www.gm.com/corporate/investor_information/docs/fin_data/gm07ar/download/gm07ar_full.pdf.Last  retrieved on February 15, 2009

2. General Motors Mission Statement, 2009, on the internet at  http://www.samples-help.org.uk/mission-statements/general-motors-mission-statement.html . Ast retrieved on February 16, 2009

3. Supplier Diversity, Website of General Motors, 2009, on the internet at  http://www.gm.com/corporate/dealers/diversity/index.jsplast  retrieved on February 16, 2009

4. Management's Discussion and Analysis, Website of General Motors, 2009, on the internet at  http://www.gm.com/corporate/investor_information/docs/fin_data/gm07ar/content/financials/mda/mda_10.htmllast  retrieved on February 16, 2009
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Accounting Is the Basic Function

Words: 1515 Length: 5 Pages Document Type: Essay Paper #: 74934849

Yet, financial statements and managerial accounting reports can be highly effective nonetheless. Sometimes they will merely confirm what the proprietor already knows, but there are inevitably going to be times when they will reveal that the proprietor's assumptions about the nature of the business are false. Moreover, accounting can act as essentially a second opinion. The proprietor may feel one thing is true, but the numbers can reveal something different.

Overall, accounting is an essential component of any business. Sole proprietorships often make less use of accounting, in part because the law does not obligate them to engage in any more than the most rudimentary accounting. However, proprietors should not overlook the value of accounting. Accounting helps to reveal the business' past performance, but can also be used to enact organizational controls today and to help plant for more effective operations in the future. By understanding the firm's cost structure…… [Read More]

Works Cited

Marshall, David H.; McManus, Wayne W & Viele, Daniel F. (2008). Accounting - What the Numbers Mean. McGraw-Hill/Irwin, New York, 2008.
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Accounting Contingent Liabilities Are Could

Words: 431 Length: 2 Pages Document Type: Essay Paper #: 37863849

Common buzz words management uses in regards to loss are, "Probable," "easonable," or "emote." Although these words can vary, management must be careful to provide an accurate account of the likelihood of loss and a reasonable estimate of loss. It is important to note that many contingent liabilities are not currently a liability but may become one in the event of adverse circumstances in the future. An example of an accounting journal entry for a contingent liability is listed below

Accounting Example:

A manufacturer of XYZ shoes provides products to various consumers worldwide. XYZ Company provides itself on excellent customer service. As such, it provides a one year warranty on its shoes. Using the company's proprietary information, they estimated that each shoe sod is equivalent to roughly $2 of warranty expenses. During the current year, XYZ Company sold 20,000 pairs of shoes. As it is probable that XYZ company will…… [Read More]

References:

1) Keenan, Denis.Accountancy; Jan1980, Vol. 91 Issue 1037, p91

2) Management Accounting: Magazine for Chartered Management Account; Jan97, Vol. 75 Issue 1, p10
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Accounting Financial Accounting Is an

Words: 571 Length: 2 Pages Document Type: Research Paper Paper #: 2417987

The management accounting leads candidates into finance, risk management and even production management. hile CMA certification is not necessary to pursue a career in management accounting, it is recommended. The IMA claims that certified management accountants earn on average $25,000 more per year than non-certified peers (IMA, 2011).

As with the accounting profession in general, there is increased demand for management accountants. CMAs are in demand because of their ability to contribute to the profitability of businesses, and demand for CMAs is expected to grow in coming years. Because CMA job duties are less structured than those of financial accountants or auditors, CMAs enjoy greater career flexibility.

Both types of accounting positions are poised to enjoy significant growth. There is also a trend in business, particularly since Sarbanes-Oxley, of looking to accounting professionals to lead firms. More CEOs are coming from the accounting stream than ever before, which highlights the…… [Read More]

Works Cited:

Bureau of Labor Statistics. (2011). Occupation outlook handbook 2010-2011: Accountants and auditors. BLS. Retrieved March 20, 2011 from  http://www.bls.gov/oco/ocos001.htm 

IMAnet.org, various pages. (2011). Institute of Management Accountants. Retrieved March 20, 2011 from  http://www.imanet.org/ima_home.aspx 

Taub, S. (2003) Now playing: CFO as CEO. CFO Magazine. Retrieved March 20, 2011 from  http://www.cfo.com/article.cfm/3007934
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Accounting Assessment of Costs and

Words: 1275 Length: 3 Pages Document Type: Book Report Paper #: 95779138

One example has been the printer market; firms will often subsidize the printers that are sold, with the aim of creating long-term profits by the ongoing sale of the printer cartridges (Thompson, 2007). The cellular telephone market also operates in a similar manner, with mobile phone service suppliers subsidizing the cost of the handsets in order to gain a contract from a customer, the cost of the subsidy is offset against the profit that will be gained on the service contract. Therefore, the firm will need to look at the impact that ending production may have on the sale of other goods. However unless there is a complimentary item then it would appear some changes may need to take place.

If there is a loss with the fixed costs of $1,000,000 it is will be expected that higher fixed costs will increase the loss.

Assessment with fixed costs at $3,000,000…… [Read More]

References

Gillespie a, (2010), Business Economics, Oxford, Oxford University Press

Seal, Will; Garrison, Ray H; Noreen Eric W, (2011), Management Accounting, McGraw-Hill Higher Education

Thompson JL, (2007), Strategic Management; Awareness and Change, London, Thompson Business Press.
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Accounting Information and Insights Into

Words: 572 Length: 2 Pages Document Type: Essay Paper #: 51336267



The second question is the cost per unit to produce a given product or deliver specific service. Just as the total cost of revenues for a business, this figure will also provide a business owner with insights into how their business is operating, from the supply chain through pricing and distribution of gross margin assumptions (Hall, 2010). The cost per unit to produce is also a good measure of how well the efficiency of a given company is running at. Often a business owner will evaluate these from the standpoint over the long-term, looking for trends in hwo their business is operating at an efficiency level that makes the entire company profitable. For services business, the cost per service event or services deliver (as a plumber making a house call) needs to have a minimum charge level as costs are allocated across all forecasted calls in a given month. This…… [Read More]

References

Hall, M. (2010). Accounting information and managerial work. Accounting, Organizations and Society, 35(3), 301.

Jansen, E.P. (2011). The effect of leadership style on the information receivers reaction to management accounting change. Management Accounting Research, 22(2), 105.
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Managing Organizational Change it Is Reasonable to

Words: 2233 Length: 8 Pages Document Type: Essay Paper #: 39920472

Managing Organizational Change

It is reasonable to suggest that companies of all types and sizes have integrated information technology systems of some sort to help them manage their businesses and achieve a competitive advantage in recent years. Because computer systems tend to become obsolete rapidly as Moore's Law continues to hold true, many companies have accumulated a mish-mash of various computer types and capabilities that may not operate efficiently in a networked environment. When these legacy systems are replaced by a standardized array of compatible computers, the transition may introduce a number of challenges and obstacles that can adversely affect the company's ability to remain agile and responsive to internal and external customer needs. To determine how the transition from an older legacy system to an improved set of computers can be achieved in an efficient fashion, the key stakeholders who are involved in the process, and the potential lessons…… [Read More]

References

Johnson, J. & Andrews, M. (2003, July). New markets, old technology: a strategic mismatch.

Risk Management, 50(7), 48.

McGinn, D., Kudyba, S. & Diwan, R. (2002). Information technology, corporate productivity and the new economy. Westport, CT: Quorum Books.

Nakata, C., Zhu, Z. & Kraimer, M.L. (2008). The complex contribution of information technology capability to business performance. Journal of Managerial Issues, 20(4), 485-
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Accounting Budgeting the Traditional Role of Budgeting

Words: 1113 Length: 3 Pages Document Type: Research Paper Paper #: 36277238

Accounting

Budgeting

The traditional role of budgeting combines the need for planning and the development of a framework which can be used for control. This is achieved through the gathering of figures for the expected or desired revenue generation and the expected or desired outgoings associated with the generation of that revenue (de Waal et al., 2011). Two major forms of budget exist for commercial organizations; capital budgeting and operating budgets, the former deals with large long-term projects and investment, whereas operating budgets deal with the everyday operations of the firm or department (Horngren et al., 2010). It is usual for budgets to be prepared in advance of the period in which they will be applied, gathering the relevant information in order to create a budget. The most effective and potentially accurate budgets are those which have accurate input information, which often means consulting with relevant managers involved in the…… [Read More]

References

Chenhall, Robert H; Brownell, Peter, (1988), The effect of participative budgeting on job satisfaction and performance: Role ambiguity as an intervening variable, Accounting, Organizations and Society, 13(3), 225-233

Horngren, Charles T; Sundem, Gary L; Stratton, William O; Burgstahler, Dave, Schatzberg, Jeff O, (2010), Introduction to Management Accounting, Prentice Hall

Howell, R. A, (2004, July), Turn Your Budgeting Process Upside Down, Harvard Business Review, accessed at  http://hbr.org/2004/07/turn-your-budgeting-process-upside-down/ar/1 

de Waal, Andre; Hermkens-Janssen, Miriam; van de Ven, Arco, (2011), The evolutionary adoption framework: explaining the budgeting paradox, Emerald 7.
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Accounting When it Comes to

Words: 1792 Length: 6 Pages Document Type: Term Paper Paper #: 80183848

When it comes to standard costing, what is referred to as a standard cost is assigned the costs (actual) of manufacturing overhead, direct labor as well as direct material. In this case, these costs are not assigned to a product. It therefore follows that amounts mirroring standard costs are what become identified first in regard to the cost of goods sold as well as inventories of a given manufacturer. In this case, it can also be noted that standard costing is regarded a rather important tool of management. Incase of any variance, the top leadership of the organization immediately becomes aware of the variation between planned/standard costs and manufacturing costs.

Conclusion

The information provided by cost accounting is critical when it comes to the effective management of an organization. Without such information, decision making would become an equivalent of operating in the dark for most businesses. For instance, firms would…… [Read More]

References

Brammertz, W., Akkizidis. L., Breymann, W., Entin, R. & Rustmann, M. (2009). Unified Financial Analysis: The Missing Links of Finance. West Sussex: John Wiley & Sons.

Drury, C. (2007). Management and Cost Accounting (7th ed.). London: Cengage Learning EMEA.

Needles, B.E., Powers, M. & Crosson, S.V. (2010). Principles of Accounting (11th ed.). Mason, OH: Cengage Learning.

Siegel, J.G. & Shim, J.K. (2000). Accounting Handbook (3rd ed.). New York: Barron's Educational Series.
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Accounting the Most Effective Means

Words: 2730 Length: 9 Pages Document Type: Essay Paper #: 2716657

ystems of income and financial position would superimpose standards of normalization upon everyone within the firm. Accounting, thereby, had achieved Foucault's definition of knowledge as power over people per excellence. By the 1950s, however, person as decision-maker replaced this vision of person as machine, and accounting still has power in our society, but a different sort of power. Likewise, accounting still possesses its constructivism (i.e. manner of perceiving a certain stranglehold on reality by emphasizing certain construct and demoting others), although its constructivist paradigm may have differed from that of, say, a century ago. Individuals are viewed, measured, and criticized within programmatic frameworks, and Miller and O'Leary (1987) suggest that accounting today can still be viewed as part of the heritage and structure (albeit slightly changed) of the traditional mode of power that it was in the early decades of this century. In other words, the slanted domination of accounting…… [Read More]

Sources

Armstrong, P. 2002, "Management, Image and Management Accounting. Critical Perspectives on Accounting, 13, pp. 281-295

Bryer, R. 2006, "Accounting and control of the labour process" Critical Perspectives on Accounting, 17, pp 551-598.

Chwastiak, M. & Young, J.J. 2005, "Silences in Annual Reports, Critical Perspectives on Accounting, 14, 533- 552

Ezzamel, M., Lilley, S. & Willmott, H. 2004, "Accounting representation and the road to commercial salvation." Accounting, Organizations and Society, 29, pp. 783- 813.
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Accounting for That Quite Likely

Words: 2684 Length: 7 Pages Document Type: Research Paper Paper #: 70137900

They then proceed to detail their selected sample (76 NYSE firms that reported at least three annual losses in period's 1980-1985 and that reduced cash dividends. They then implemented various conditions to test their hypothesis that it is the troubled firm's aim to retain preservation of their company, rather than to make a bonus, that causes them to select a certain accountancy plan.

In section 2, the authors describe their methods used in selecting a sampled population and their bias controls. There is a great deal of numerical data, and the material is dense particularly when they elaborate on the earnings and cash flow performance of the various firms. Each unit is broken up into subunits. Scholarly tables condensed with data that for instance report accrual levels and changes for the 76 firms support their written text and the Tables are alluded to in the text. Statistical analysis of these…… [Read More]

References

DeAngelo, H. DeAngelo, L. & Skinner, DJ (1992) Accountign choice in troubled companies. Jour. Of Account. & Econ. 17, 113-143

Elliot, Barry & Elliot, Jamie: Financial accounting and reporting, Prentice Hall, London 2004

Gray SJ (1988) Towards a Theory of Cultural Influence on the Development of Accounting Systems Internationally Abacus, pp.1-15

http://folders.nottingham.edu.cn/staff/zalzae1/ATP/articles/Gray.pdf
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Accounting Systems Their Tradeoffs and Discusses the

Words: 936 Length: 2 Pages Document Type: Term Paper Paper #: 32923663

accounting systems, their tradeoffs, and discusses the differences between countries in their approaches.

Each of the cost accounting systems discussed in the articles accomplishes some management goals better than other systems, but there are tradeoffs involved with each. Different nations approach their cost accounting systems differently due at least in part to differences within cultures. For instance, GP is more suited to countries where the culture is one of uncertainty avoidance, one of the five dimensions of Hofstede's taxonomy. GP offers the most uncertainty avoidance because there is relatively little ambiguity in the assignment of costs; GP is characterized by narrowly defined cost centers and strict cost center criteria. Cultures such as Germany's are characterized by a management environment that includes highly skilled workers and technical expertise among managers. This is in contrast to the U.S. where workers tend to have more generalist skill sets and managers have been educated…… [Read More]

Krumwiede, Kip & Suessmair, Augustin, (2008). A closer look at German cost accounting methods: a survey of the cost management systems used by companies in Germany, Switzerland, and Austria. Management Accounting Quarterly. Retrieved July 26, 2010, from  http://findarticles.com/p/articles/mi_m0OOL/is_1_10/ai_n31370936/?tag=r  bxcra.2.a.55

Lockhart, Julie & Taylor, Audrey, (2007). Environmental considerations in product mix decisions using ABC and TOC. Management Accounting Quarterly.  http://proquest.umi.com/pqdweb?index=0&did=1411673321&SrchMode=1&sid=9&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590287&clientId=29440 

Portz, K. & Lere, J.C. 2010. Cost Center Practices in Germany and the United States: Impact of Country Differences on Managerial Accounting Practices. American Journal of Business. Muncie: Spring, 2010. Vol. 25, Iss. 1; pg. 45.  http://proquest.umi.com/pqdweb?index=25&did=1992507361&SrchMode=1&sid=6&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1315214891&clientId=29440
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Management Has to Do With the Knowledge

Words: 3494 Length: 11 Pages Document Type: Essay Paper #: 47868103

management has to do with the knowledge of the resources a company uses in running their daily affairs. It also involves effective projection of additional resources that could be needed along the way, and the maximization of the available resources. Maximizing the efficiency of the available resources and the ability to put some of them in reserve are part of Cost Management. Some scholars define cost management as the of cost setting up systems of accounting and models for the provision of guidance in relation to current and future operations in order to achieve specified objectives. They also believe that analyzing and interpreting cost information is vital and aids the processes of decision making. Basically, between a client and a contractor, cost management refers to the final cost of a construction project (Dubois, 2003).

The major reason for the analysis of cost management is to find a more effective final…… [Read More]

References

Ansari, S., Swenson, D., Bell, J. And Kim, W. (2003): Best Practice in Target Costing. Management Accounting Quarterly, Winter 2003, Vol.4, No.2, pp.12-17.

Baker, W. (2002): Eliminate Non-Value-Added Costs. Industrial Management, May/June 2002, Vol.44, Issue 3, pp.22-27.

Carr, D. And Smith R. (2000): Change Management. In: Brinker, B. (ed.): Guide To Cost Management. John Wiley & Sons, Inc. New York, pp.128-143.

Cokins, G. (2001): Activity-Based Cost Management: An Executive's Guide. John Wiley & Sons, New York.
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Accounting Important Success Firm What Methods Cost

Words: 960 Length: 3 Pages Document Type: Essay Paper #: 40102732

accounting important success firm? What methods cost accounting ? The paper (a) identify main issues chosen area, (b) reference learning occurred, (c) build class activities incidents facilitated learning understanding, (d) present specific current / future applications relevance typical workplace.

Cost accounting -- definition, importance, methods

The modern day society is constantly presenting the economic agent with more numerous and more pressing challenges. In order to face them and emerge as a competitive institution, firms develop and implement a wide array of strategies, such as creating customer value, developing the skills of the staff members, establishing strategic partnerships or creating financial stability and accountability. One specific means in this endeavor is represented by cost accounting, which represents a key to organizational success. The current project focuses on the identification of the reasons as to why cost accounting is important to organizational success. A secondary research objective is that of pin pointing…… [Read More]

References:

Pizzey, A., 1989, Cost and management accounting: an introduction for students, 3rd Edition, SAGE

2009, Cost accounting definition, Accounting for Management,  http://www.accountingformanagement.com/cost_accounting_definition.htm  last accessed on January 26, 2011

2010, Activity based accounting, Accounting Coach,  http://www.accountingcoach.com/online-accounting-course/35Xpg01.html  last accessed on January 26, 2011

2010, Cost accounting, Investopedia,  http://www.investopedia.com/terms/c/cost-accounting.asp  last accessed on January 26, 2011
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Accounting Allows Managers to Better

Words: 645 Length: 2 Pages Document Type: Term Paper Paper #: 50133555

d.). The methods by which this information is gathered will differ based on the type of production that is being undertaken. Cost flow assumptions relates to how costs flow through inventory accounts. This can include FIFO, LIFO, weighted average and other methods. This impacts the costs because it helps to determine which costs are counted for which period. Recording interval capability refers to the points in time when a company takes inventory. Many firms use perpetual inventory, but some firms will take inventory periodically in order to provide this information.

Overall, cost accounting systems provide the information that managers need with respect to the costs of a product. By using a specific system, wherein decisions about methodology are made about each of the five parts of the cost accounting system, the system will be consistent through different products and through different time periods for the same product. This will ensure…… [Read More]

Works Cited:

Kinney, M. & Raiborn, C. (2009). Cost accounting: Foundations and evolutions. Mason, OH: Thomson Higher Education.

Martin, J. (no date). What is a cost accounting system? Management and Accounting Web. Retrieved June 23, 2010 from  http://maaw.info/5partsofcostsystem.htm 

Cooper, R. & Kaplan, R. (1988). How cost accounting distorts product costs. Management Accounting. Vol. 69 (10) 20.
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Management Styles Affect an Organizations'

Words: 2409 Length: 8 Pages Document Type: Thesis Paper #: 83133825



The coercive style: decisions are made top-down with little emphasis on individual ideas; it is best used in situations of crisis, but in the long run, it negatively affects the employees' morale levels

The authoritative style: sets clear goals and directions; rewards based on performances; individuality; it is stimulating for the dedicated employees; does not work if the manager is too demanding or when the employees work in teams

The affiliative style: based on the creation of a pleasant working environment; may lack control and stimulation; high performances only in a compact and hard working group, sharing common goals

The democratic style: employees' ideas are listened to; team work and participation are encouraged; could create a pleasant environment, but may lack control and direction

The pacesetting style: rapid pace of work, high expectations and performance-based rewards; might stifle creativity and generate a tense environment

The coaching style: based on roles…… [Read More]

Works Cited

Atrill, P., McLaney, E.J., 2007, Management Accounting for Decision Makers, 5th Edition, Pearson Education

Davidmann, M., 2006, Style of Management and Leadership,  http://www.solhaam.org/articles/clm2.htmllastaccessed  on February 17, 2009

Hannagan, T., Bennett, R., 2007, Management: Concepts and Practices, 5th Edition, Pearson Education

Ison, M., Kempton, K., 2007, the Impact of Management Style, NSW Department of Primary Industries, Retrieved at http://www.dpi.nsw.gov.au/__data/assets/pdf_file/0004/179185/the-impact-of-management-style.pdfonFebruary 17, 2009
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Accounting Changing Through Technology

Words: 2962 Length: 8 Pages Document Type: Essay Paper #: 77295884

Technology in Accounting

The author of this report is going to offer a fairly lengthy report about how technology has played an integral role in the changing of accounting. Indeed, technology and the internet have changed many things in demonstrable and perhaps immeasurable ways over the years. The author of this report will cover a number of different ways in which technology has emerged and changed things. Topics covered will include, but will not be limited to, pivot tables, API feeds from banks, credit card processing, vendor communication and enterprise resource planning (EP) systems. The four main dimensions that these technological updates have addressed include speed, accuracy, timeliness and applicability. While these rapid advances in technology have created some logistical, training and security headaches for many accounting and other professionals, the good of technology and how it has changed accounting far outweighs the bad.

Summary

Of course, the gold standard…… [Read More]

References

Girsch-Bock, M. (2011). Construction Vendors Turn to Mobile Communications & Tools. CPA Practice Advisor, 21(3), 30.

This is an article about how vendors in the construction realm is making heavier use of mobile communications. It is credible because it appears in a reputable CPA-involved publication and it's about the relevant topic.

Gullkvist, B.M. (2013). Drivers of change in management accounting practices in an ERP environment. International Journal of Economic Sciences & Applied

Research, 6(2), 149-174.
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Managing Stress Brought by Self defeating Behavior

Words: 3728 Length: 12 Pages Document Type: Essay Paper #: 78996655

One of the crucial elements towards the realization of organizational success and profitability is creating a suitable working environment for all employees to thrive as they carry out their respective responsibilities. In essence, employees' contributions towards the achievement of established business goals/objectives is largely influenced by the nature of the working environment and working conditions. However, employees' behaviors also play a crucial role in determining their productivity in the workplace. Self-defeating behaviors in the workplace contributes to stress, which in turn affects employees' input to work processes and the overall profitability of an organization. This paper examines the management of stress brought by self-defeating behaviors in the workplace. The evaluation includes recommendations of suitable solutions to this issue based on organizational theory concepts and the concepts of organizational behavior.

Background Information

The organization I work for has several divisions or department that are mandated with various responsibilities and tasks towards…… [Read More]

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Managing Performance Within Business

Words: 437 Length: 2 Pages Document Type: Business Plan Paper #: 58557612

Performance Management Plan eview

The value of measuring and identifying key skills and attributes is essential to an evolving organization. The following performance management plan is tailored to the Stonefiled Limousine business.

Location: Austin, Texas

Type of Business: Limousine Service

Number of Employees

Current Predicted Annual Net evenue: $50,000

year evenue Growth Objective: 5%

Turnover ate: 10%

The purpose of a performance management plan is to track and guide an organization's employee's contribution to the organization. It is necessary to first identify the problems and objectives of the organization in order to get an appreciation for the industry and type of products and services they offer. The most important aspect of any performance management plan is that the organizational strategy is aligned with other facets of this improvement such as the Human esources and operations aspects of the company. Put simply, the company must understand what is being asked of…… [Read More]

References

Armstrong, M., & Baron, A. (2000). Performance management. Human resource management, 69-84.

Otley, D. (1999). Performance management: a framework for management control systems research. Management accounting research, 10(4), 363-382.
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Accounting Systems Assessing the Current and Future

Words: 1344 Length: 5 Pages Document Type: Essay Paper #: 64927331

Accounting Systems

Assessing the Current and Future State of The lifeblood of any business is the revenue it generates while managing costs, ensuring profitability of the business, and its long-term survival and growth. The catalyst of managing a business effectively is the use of accounting information, financial analysis, and increasingly in the 21st century, the use of real-time financial analytics on key performance indicators (KPIs) used to manage a business (Ferguson, Seow, 2011). Accounting systems continue to be the foundation of managing businesses to profitability while mitigating potential risks though insightful and real-time use of financial data. The future of accounting systems will be increasingly influenced by the real-time reporting and analysis as the Securities and Exchange Commission (SEC) has required the largest publically traded corporations in the U.S. To report their results through the extensible Business eporting Language (XBL) protocol (Tribunella, Tribunella, 2010). The SEC is setting a very…… [Read More]

References

Ferguson, C., & Seow, P. (2011). Accounting information systems research over the past decade: Past and future trends. Accounting and Finance, 51(1), 235.

Gill, R.. (2011). Why Cloud Computing Matters to Finance. Strategic Finance, 92(7), 43-47,1.

Salah A Hammad, Ruzita Jusoh, & Elaine Yen Nee Oon. (2010). Management accounting system for hospitals: a research framework. Industrial Management + Data Systems, 110(5), 762-784.

Tribunella, T., & Tribunella, H.. (2010). Using XBRL to Analyze Financial Statements. The CPA Journal, 80(3), 69-72.
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Management Decision-Making

Words: 2912 Length: 9 Pages Document Type: Essay Paper #: 64068892

Horn of Africa experienced what was termed the worst drought in 60 years. The drought, caused by the failure of the rains for two consecutive seasons, led to a severe food crisis across Djibouti, Somalia, Ethiopia, and Kenya, and killed more than 100,000 people while placing hundreds of thousands at risk of starvation. According to Hiller and Dempsey (2011), the greatest tragedy was that the world had seen this disaster coming, but little had been done to prevent it. From as early as 2010, there had been clear indications of a looming crisis and its consequences. La Nina, a climate condition that would lead to drier than normal conditions over the entire area had already been confirmed. Further warnings of the crisis were repeated and became more strident in 2011. In light of all the warning signs, it is, therefore, rather surprising that proper response from the international aid system…… [Read More]

Bibliography

Bart, C., 1988. Budgeting Gamesmanship. Academy of Management Executive. vol.(2)4, pp. 285-294.

Hiller, D & Dempsey, B., 2011. A Dangerous Delay: The cost of late response to early warnings in the 2011 drought in the Horn of Africa. Oxfam International and Save the Children. Available at https://www.oxfam.org/sites/www.oxfam.org/files/bp-dangerous-delay-horn-africa-drought-180112-en.pdf. [Accessed 25 April 2015]

Kaplan, R. & Norton, D., 1996. The balanced scorecard: translating strategy into action. Boston: Harvard Business Review Press

Mintzberg, H., 1987. Crafting strategy. Harvard Business Review. Vol. (65)4, pp. 66-75.
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Accounting The Field of Finance Largely Concerns

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 25055316

accounting?

he field of finance largely concerns itself with investment analysis and the management of funds. he fields of accounting and finance are distinct from each other. Essentially, finance, from the occupational perspective, has largely got to do with the efficient procurement and utilization of funds. On the other hand, still from an occupational perspective, accounting largely concerns itself with the examination and analysis of financial data, and preparation of financial statements. It should, however, be noted that the roles of both professions do in some cases overlap. Indeed, accounting according to Khan and Jain (p. 1.5) should be viewed as a finance sub-function.

In a typical corporation the finance function is divided into two divisions, or departments. What are they? What does each department do?

he finance function is typically divided into the financial accounting and management accounting divisions. Management accounting in the words of Drury (2006, p. 7)…… [Read More]

There are a variety of factors that could affect the price of a company's stock. Key amongst these include: economic shocks/conditions (including, but not limited to, natural disasters and wars), business environment, and the firm's internal dynamics (including the financial management decisions made by the key officers) (Parrino and Kidwell, 2009).

7. What's wrong (if anything) with saying the basic financial goal of a business is to "maximize profits?"

According to Drury (2006), there
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Accounting a Great Prospective Major

Words: 2366 Length: 7 Pages Document Type: Term Paper Paper #: 53299913

Accountant

hy I Chose Accounting

"I hate math." Ever since I can remember people have approached me to tell me how much they loathe math, when they hear that I love it. However, I have always been fascinated by the order mathematics can bring to a chaotic world. Sometimes when life seems hard, it is very comforting to be able to look at numbers. This is not to say, of course, that accounting is not challenging. In fact, like many prospective accounting majors, I initially struggled with the discipline in my fundamentals courses ("Top 10 Easiest and Hardest College Degree Majors of 2016"). There is a reason that introductory accounting classes are often considered weeding-out, gatekeeping classes for the profession. Many people decide they want to be accountants because they think it is a lucrative profession that does not require as much additional schooling as law or medicine but then…… [Read More]

Works Cited

Erstad, Will. "Is an accounting degree worth it or worthless?" Rasmussen. 16 Nov 2015.

Web. 8 Jul 2016.

Grohol, John. "10 Highly Effective Study Habits." Psych Central. Web. 8 Jul 2016.

"How to become a CPA." CPA Review. Web. 8 Jul 2016.
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Accounting Tricks and Their Impact on Valuation

Words: 925 Length: 4 Pages Document Type: Chapter Paper #: 90863963

forecasting, there are a litany ethical dilemmas, decisions characteristics, problems, or frameworks that may impact the financial statements of Home Depot and Lowe's. The most egregious of which is management assumptions regarding future performance. In many instances, with the exception of cash, nearly every line item has some form of assumptions involved. Accounts receivable is often reported net of the allowance for doubtful accounts, which is a management assumption (Alexander, 2005). Management has the ability to dictate if the company will report inventory using LIFO of FIFO accounting rules. With LIFO, assuming rising prices in an inflationary environment, Cost of Goods Sold will increase thus reducing Net Income. However, the reduction in taxes paid will actually make the company's cash flow from operations increase on the cash flow statement. FIFO will have the opposite impact. From a shareholder perspective reporting under LIFO would be more to the shareholders advantage as…… [Read More]

References:

1) Alexander, D., Britton, A., Jorissen, A., "International Financial Reporting and Analysis," Second Edition, 2005, ISBN 978-1-84480-201-2

2) Astrid Ayala and Giancarlo Ibarguen: "A Market Proposal for Auditing the Financial Statements of Public Companies" (Journal of Management of Value, Universidad Francisco Marroquin, March 2006) p. 41

3) Berezin, M. (2005). "Emotions and the Economy" in Smelser, N.J. and R. Swedberg (eds.) The Handbook of Economic Sociology, Second Edition. Princeton University Press: Princeton, NJ

4) Gilchrist, Warren (1976). Statistical Forecasting. London: John Wiley & Sons. ISBN 0-471-99403-0
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Management Awareness What Are the Benefits of

Words: 1255 Length: 4 Pages Document Type: Essay Paper #: 15959096

Management Awareness

What are the benefits of a comprehensive control program? If you were advising this corporation, what would be the specific benefits for them?

The benefits of a comprehensive internal control program include: the ability to monitor for unusual activities and it will increase vigilance. This will help to prevent fraud by providing actuaries with an actual way of discovering when these events are occurring through early detection. It is at this point that the negative impact on the firm and various stakeholders can be minimized. (Silverstone, 2011, pp. 14 -- 16)

Once this has been consistently implemented, is when it will have an impact on the entire organization by creating an atmosphere that is looking for these issues. When different staff members are actively involved in the process, this will make it difficult to be able to conduct any kind of fraudulent activities. In the future, this will…… [Read More]

References

Biegelman, M. (2012). Executive Road Map to Fraud. Hoboken, NJ: Wiley.

Bizmanualz. (2002). Accounting and Book Keeping Procedures. New York, NY: Routledge.

Goldman, P. (2011). Financial Services Anti-Fraud Risk. Hoboken, NJ: Wiley.

Silverstone, H. (2011). Forensic Accounting. Hoboken, NJ: Wiley.
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Accounting Several Terms and Definitions Are Valuable

Words: 895 Length: 3 Pages Document Type: Essay Paper #: 53038561

Accounting

Several terms and definitions are valuable to understand financial statements. In the United States, financial statements of public corporations are produced in accordance with the U.S. Generally Accepted Accounting Principles. These principles govern how the information for financial statements is compiled and presented. The purpose of these principles is so that all stakeholders can easily understand the statements and make comparisons across both time and across different companies, because the statements are produced and presented in a consistent manner. The International Financial eporting Standards (IFS) are the international equivalent of GAAP. While several countries utilize a national version of GAAP (U.S., Canada, UK, etc.), more than 100 countries use IFS, making this set of standards the most widely-adopted in the world. There is a move to converge national GAAP standards with IFS, including a multi-year project to converge U.S. GAAP with IFS. For now, however, IFS represents a different…… [Read More]

References:

No author. (2012). Generally accepted accounting principles (GAAP). Investopedia. Retrieved August 18, 2012 from  http://www.investopedia.com/terms/g/gaap.asp#axzz23vrKSd9Q 

PCAOB.org (2012) PCAOB oversees: The auditors of companies to protect investors. Public Company Accounting Oversight Board. Retrieved August 18, 2012 from  http://pcaobus.org/Pages/default.aspx 

SEC.gov. (2012). The investor's advocate. Securities Exchange Commission. Retrieved August 18, 2012  http://www.sec.gov/about/whatwedo.shtml
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Accounting for Decision Making Roland Anderson Is

Words: 522 Length: 2 Pages Document Type: Essay Paper #: 64168311

Accounting for Decision Making

Roland Anderson is the manager of the Ekland Division of Ystad Industries and has some decisions to make based on accounting data. Anderson is also being considered for the CEO position of the company which makes his dilemma even greater. He is unhappy with the profitability for the first quarter and is considering maxing out the capacity of the operation in the second quarter. It was found that Anderson actually performed fairly well based on the assumption that his actual costs were below the variable costs provided in the case using the contribution method. Doubling the production plan would be an unwise move given the fact that the sales forecast is only for twenty five thousand units. Thus if he produces fifty thousand units he would have greater inventory and it is likely that he would have to cease operations and let some workers take a…… [Read More]

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Management and Leadership Department of

Words: 1738 Length: 6 Pages Document Type: Term Paper Paper #: 89325979



Most audit managers assign supervisory tasks to senior auditors and, in general, consistently encourage more senior auditors to fulfill a mentor role within the audit team.

The dual benefit of this practice is that it fosters greater team unity and a healthier organizational culture, in addition to enabling junior auditors to learn technical skills from their more senior associates. Very often, the types of relationships maintained by senior auditors within their audit teams is one of the most important criteria considered in conjunction with possible recommendations for future promotion of senior (GS-13) auditors to management at the GS-14 level. By the time auditors reach the GS-13 level, they are not readily distinguishable from one another in technical skill (or they would not have risen above the GS-12 level).

Therefore, it is precisely their performance in the unofficial role of "supervisory" auditor that is most often considered the difference between auditors…… [Read More]

REFERENCES

Kinicki, a., Williams, B. (2005) Management: A Practical Approach. New York: McGraw-Hill.

Nowalinski, G. (2001) a Brief History of the HHS Office of Inspector General USDHHS Office of Inspections and Evaluations. Washington, DC: GAO

U.S. Health and Human Services Office of Inspector General Public Website, Retrieved March 24, 2008, at http://oig.hhs.gov/organization/OAS/index.html
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Accounting Forms the Overall Backbone of the

Words: 1922 Length: 5 Pages Document Type: Term Paper Paper #: 77472520

Accounting forms the overall backbone of the financial world. Financial markets are predicated on consumer and user confidence. Without confidence, consumers attempting to make financial decisions will be doing so using inaccurate and incomplete information. The lack of transparency regarding the truthfulness of reported numbers creates uncertainty within the capital markets. This uncertainty regarding the accuracy of information ultimately undermines the overall financial system, causing harm to society in the process. Investors will require higher rates of return, individuals will become unlikely to invest, and innovation could become stifled, harming the quality of life for society overall. Accounting standards, particularly those from the IFRS, are required to help maintain confidence in the reliability of reported financial performance. These standards, such as IFRS , are often amended to reflect the economic realities of business transactions. These changes, although well intended, may often have unintended consequence. This is particularly true for IFRS…… [Read More]

8) Jeffers, Agatha; Mengyu Wei; Sidney Askew (2010). "The Switch from U.S. GAAP to IFRS." Proceedings of the Northeast Business & Economics Association: 48 -- 54

9) Oler, Derek K., Mitchell J. Oler, and Christopher J. Skousen. 2010. "Characterizing Accounting Research." Accounting Horizons 24 (4): 635 -- 670

10) Perks, R.W. (1993). Accounting and Society. London: Chapman & Hall. p. 16. ISBN 0-412-47330-5.
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Accounting Research in the Past

Words: 525 Length: 2 Pages Document Type: Term Paper Paper #: 96240730

In aaccounting research, the model used would be called analytical modeling, which consists of sstudies that use models with no specific underlying economic theory but use mathematical techniques. The mathematical formulas are applied to test and establish laws and accounting practices. Simulation, or the practice where the analysis is so complex that it requires a computer, is also an example of an inductive accounting practice research methodology.

Finally, pragmatic research utilizes pragmatic validity, which views research from a prescriptive-driven perspective. For example, solutions to problems that actually occur in the complex and high field of practice are developed in a way that, while valid for a specific situation, need to be adjusted according to the context in which they are to be applied. In the accounting area, general empirical research is a catchall that includes primarily descriptive empirical work. Another example of an accounting research methodology that consists of pragmatic…… [Read More]

Bibliography

Blaikie, N. (2007). Approaches to Social Inquiry. ISBN 0745634486.

Fleming, R., Graci, S. & Thompson, J. (2000). Dawning of the Age of Quantitative/Empirical Methods in Accounting Research. The Accounting Historians

Journal. (June 2000).
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Managing Information Systems Introduction in

Words: 2760 Length: 8 Pages Document Type: Case Study Paper #: 55736802

Furuholt, (2006) argues that lack of management engagement to the acceptance of information systems has been a barrier to the implementation of information systems. The issues are even common with organizations in the developing countries where management does not give enough priority to the information systems implementation. Importantly, implementation of information systems requires management support since management will need to approve fund that would be used for IS implementation. Generally, younger people are more interested in the it tools than older people. In a situation where number of older working team outnumbers younger working team within an organization, the IS implementation may be cumbersome.

More importantly, lack of knowledge of information systems may serve as barrier to its implementation. In the developed countries, private and public organizations have already aware the importance of information systems to the organizations. Many organizations in developed countries already realize that it tool is a…… [Read More]

References

Abukhzam, M. & Lee, a. (2010). Factors affecting Bank Staff attitude towards E-banking adoption in Libya. The Electronic Journal on Information Systems in Developing Countries: 42(2): 1-15.

Ali, S.N.A. (2010). E-government services: an exploration of the main factors that contribute to successful implementation in Libya. PhD thesis, University of Portsmouth.

Bartol, K.M. (1982). Managing Information Systems Personnel: A Review of the Literature and Managerial Implications. MIS Quarterly.

Boh, W.F. & Yelling, D. (2007). Using Organizational Architecture Standards in Managing Information Technology. Journal of Management Information Systems. 23 (3): 163 -- 207.
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Accounting Information a Senior Executive in a

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 7128783

Accounting Information

A senior executive in a Fortune 500 firm along with their colleagues on the company's management team are dependent on accurate, timely, and pertinent financial information regarding the health of the organization. Accounting information has aptly been described as "the language of business, which is used in the management, planning, control, and decision- making processes integral to achieving organizational objectives" (Marshall, D. & McManus, W. 1996). In this regard accounting information falls into distinct categories: financial and managerial accounting; yet with considerable overlap in their utilization by management. Explication of these accounting areas provides considerable insight into their utility in providing effective quantitative data for analysis.

Financial and Managerial Accounting

Financial accounting concerns itself with the "preparation and reporting of financial statements for an entity" (Marshall, D. & McManus, W. 1996); while managerial accounting "is concerned with providing information to managers- that is, to those who are inside…… [Read More]

Likewise, managerial accounting also utilizes financial data to reach conclusions as to how the company is operating and what if any corrections are necessary to enhance profitability. In this vein managerial accounting concerns itself with the analysis of costs, budgeting, performance, and capital expenditures. Managerial accounting information is highly detailed and provides a platform from which to judge the company's revenue creation and its cost controls. As examples, an executive management team might take considerable time analyzing activity based-costing; a "system identifying the activity that causes the incurrence of a cost" (Marshall, D. & McManus, W. 1996). This data could lead to a discussion on the company's operating leverage based on their orientation of fixed or variable costs. While both financial and managerial accounting provides detailed data concerning company performance, managerial accounting has a distinctive narrowness to its scope of focus.

Communication of Information

With volumes of financial information generated by a Fortune 500 firm's accounting department, the question becomes how
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Management Decision-Making

Words: 928 Length: 3 Pages Document Type: Research Paper Paper #: 27799383

Accounting

What decision making model would you use to make this decision?

The rational decision making model would be the best choice in this instance. This model is particularly useful as it provides a systematic method of processing information. Many of the steps involved within the overall process involve judgment and foresight. In question 4 of the self test, the primary problem is centered on working an additional shift. The decision to work the additional shift lends itself well to the rational decision making model. First the model allows the development of alternatives, which can better aid management in its overall decision. Alternatives to working an additional shift would be to outsource labor, improve productivity through technology and so forth. Through the rational decision making model, these alternatives can be properly addressed while also outlining a means to arrive at the best possible decision. Management however, must guard itself on…… [Read More]

References

1. Erdogan, B., Liden, R.C., & Kraimer, M.L. (2006). Justice and leader-member exchange: The moderating role of organizational culture. Academy of Management Journal, 49,395 -- 406.

2. Duarte, N.T., Goodson, J.R., & Klich, N.R. (1994). Effects of dyadic quality and durationon performance appraisal. Academy of Management Journal, 37, 499 -- 521.

3. Heneman, R.L., Greenberger, D.B., & Anonyuo, C. (1989). Attributions and exchanges: The effects of interpersonal factors on the diagnosis of employee performance. Academy of Management Journal, 32, 466 -- 476.
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Accounting Economics How Is

Words: 441 Length: 1 Pages Document Type: Term Paper Paper #: 55469853

M.L., 2007). Managing a project where little support is present from upper management requires a precise degree of stable consistency in the way of project deployment, supervision and follow-up. There is much ado with executive decision making. When topics and issues arise where input or answers are likely to be unpredictable without higher level determination, a project manager is forced to put his/her best judgment to use while considering every potential avenue for adjustment.

3) Completion dates are excellent points for performance metrics. How much overdue? How late?...etc. These are all excellent measurements that can be made.

Completion dates are absolutely imperative to the specific performance of any project, in any market or industry. Anytime that there is a centered goal or group objective that requires the combination of entwined efforts from every aspect of preparation and process, dates are indefinitely determinable of capability and the essential quality through progress.…… [Read More]

Bibliography

Free Management Library. 2007. www.managementhelp.org.

Mind Tools, LTD. 2004.

A www.mindtools.com- Project Planning.
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Managing Uncertainty in Production Planning

Words: 3299 Length: 10 Pages Document Type: Multiple Chapters Paper #: 45356919



esearch Objectives and Scope

The main objective of the research then relates closely to the research problem. It is to research the problem of uncertainty as it manifests in the global business environment. Specific issues to be investigated include supply chain management and its related uncertainties, the production process itself and uncertainties related to it, as well as the post-production phase and market uncertainties that are related to it.

Time is also an important factor. Some industries require a long-term time frame in their planning process, which exacerbate uncertainties. The time factor should also be an important consideration in terms of creating a model that can effectively help businesses achieve their manufacturing and revenue goals.

To achieve these aims, the main objective of the research will then be to research industries and companies that operate on a global scale. They will be investigated for the models they have implemented to…… [Read More]

References

Alonso-Ayuso, A., Escudero, L.F., Garin, A., Ortuno, M.T. And Perez, G. An Approach for Strategic Supply Chain Planning under Uncertainty based on Stochastic 0-1 Programming. Journal of Global Optimization, No. 26, 2003. Retrieved from http://chentserver.uwaterloo.ca/aelkamel/che720/che720-methods-of-optimization-pse/stochastic_optimization/05100412180122714.pdf

Eppler, Martin J., Platts, Ken, and Kazancioglu, Emre. Visual Strategizing: the Systematic Use of Visualization in the Strategy Process. Institute for Corporate Communication, Dec. 2006. Retrieved from  http://doc.rero.ch/lm.php?url=1000,42,6,20061207091432-KB/wpca0607.pdf 

Gupta, Anshuman and Maranas, Costas D. Managing demand uncertainty in supply chain planning. Computers and Chemical Engineering, No. 27, 7 Feb. 2003. Retrieved from www.sciencedirect.com.

Kazaz, Burak, Dada, Maqbool and Moskowitz, Herbert. Global Production Planning Under Exchange-Rate Uncertainty. Management Science, Vol. 51, No. 7. July 2005. Retrieved from http://myweb.whitman.syr.edu/bkazaz/kazaz-MS-2005.pdf
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Management These Descriptions Fit in

Words: 633 Length: 2 Pages Document Type: Research Proposal Paper #: 38632738

This concept originated with the principles of Total Quality Management (TQM).

The notion that only managers play a role in controlling work activities is based on two false ideas. One is the antiquated notion of totalitarian management. Modern management does not follow this style, as it is often not consistent with organizational objectives. The second false idea is that the manager can control the employee at all times. In practice, managers merely provide instruction and guidance with respect to work activities. Employees often devise their own ways of performing different tasks, and it would be near impossible for management to control this. Thus, employees do exert some control over work activities.

Q3. Operations management can be applied to any managerial function.

Operations management techniques are based around analysis of processes. Control is merely one aspect of the role, even within the operations setting. In fact, operations management also consists of…… [Read More]

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Management Approach That Offers the Best Outcomes

Words: 3075 Length: 10 Pages Document Type: Essay Paper #: 89102171

Management Approach That Offers the Best Outcomes

for Knowledge Development

Understanding business, and what that process contains, is extremely complex. It takes years of study and focus to gain even a rudimentary idea of all a company has to do to remain viable. A company has to have employees who understand their jobs, clear work goals for all concerned in the business, accounting practices that tell the actual financial workings of the company and keep government agencies happy, along with many other processes among the strata. Threads run through all of the working practices of an organization which tend to bind it together. These can be tangible communication channels (email, phone lines, other forms of information technology), or they can be intangible. These intangible communication lines are another layer of complexity which the organizations managers have to control and mold. How people deal with one another is the way an…… [Read More]

Works Cited

Cohen, Debra J. "Knowledge Development -- Future Focus: Emerging Issues -- in Human Resource Management." HR Magazine (2003). Web.

de Dreu, Carsten K.W., and Evert van de Vliert. Using Conflict in Organizations. New York: Sage Publications, 1997. Print.

Fischler, Michael L. "From Crisis to Growth…Race, Culture, Ethnicity, Conflict and Change." Education 124.2 (2003): 396-398. Print.

"Knowledge." Merriam-Webster Online Dictionary. 2011.
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Accounting and Intrusion Detection in a Report

Words: 6872 Length: 25 Pages Document Type: Term Paper Paper #: 17210308

Accounting and Intrusion Detection

In a report issued by Paladin Technologies, Inc., entitled: "Security Metrics: Providing Cost Justification for Security Projects," 273 organizations were surveyed on the topic of security. The report illustrates in quantifiable terms the depth and reach of intrusion detection on the financial viability of the organization. The combined reported losses from the firms surveyed totaled $265.6 million in 1999. The highest loss categories were reported as follows:

Type of Loss

Estimated Dollar Value

Number of espondents

Theft of intellectual capital

m

Financial Fraud

m

Sabotage

m

The average annual financial loss of firms surveyed was estimated at $40 million. Forty three percent of respondents were able to quantify financial losses, and seventy four percent were able to acknowledge financial loss. Ninety percent detected cyber attacks within the most recent twelve-month period and seventy percent reported serious breaches other than viruses, laptop theft, and employee abuse of…… [Read More]

Resources

Risk Assessment risk assessment involves estimating the likelihood and severity of an occurrence, the relative impact of risk on the facility, information handler, processing, support, and the mission of the organization. Assessing the likelihood means determining the probability that existing controls will be skirted. Pfleeger has identified a series of steps for examining the likelihood of adverse occurrences:

Calculate the probability that the risk may happen, found in the observed data for the specific system.

Estimate the likely number occurrences in a given time period. The analyst gives a rating based on several different risk analysis methodologies, and then creates a table to hold and compare the ratings.

The Delphi approach: several raters individually estimate the probable likelihood of an event, combine their estimates, and choose the best one.