Functional Areas Of Business

Functional Areas of Business
La'Kisha Thomas
University of Phoenix
Management
MGT 521
Greg Luce
February 11, 2013
The functional areas of business are management, law, human resources management, leadership,
accounting, finance, economics, research and statistics, operations management, marketing, and
strategic planning. Although, all of the functional areas are essential to the success of a organization,
two areas stand out as key to getting the business started and keeping it profitable, and they are
human resources management and the accounting area (University of Phoenix, 2013).
The Human Resources Management (HRM) area of business focuses on utilizing people as business
resources. The HRM is ... Show more content on Helpwriting.net ...
The roles of the managerial accounting manager are to make decisions, forecast and plan, and create
budgets for the organization. The accounting manager has to be detailed and precise in making
decisions. The decisions they make are used by the division managers for them to adjust their
strategies for achieving their goals. Decisions made by the manager can range from what the
company should charge for a product or service to how much it should cost the organization to make
or supply the product or service. The accuracy of the managerial accounting manager's decisions is
essential to the organizations managers balancing the supply and demand for their areas (Johnson,
2013). The most basic role of the accounting manager is budgeting. "The budgeting process allows
managers to allocate resources to the most financially need departments, and eliminates programs
and departments that are not effectively using the resources" (Managerial Accountant's Role in
Business Planning, para. 5).
The budgets that the accounting managers have to generate can vary from industry to industry, but
some common budgets are sales, production, and cash budgets (Johnson, 2013).
Similar to the managerial accounting manager, the financial accounting manager is responsible for
generating certain reports that revolve around cost. However, the
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Universal Set of Principles in the Field of Accounting Essay
Introduction
A principle is defined as a rule, or even an idea that forms the basis of deciding what is wrong and
what is right in context to our actions. As opposed to principles, we all have our own personal
practices and traditions, which determine our behavior in the society. These practices are determined
from our culture, society, ancestors, experiences and religion etc. But since we live in a world where
every person has their own set of practices and traditions, we cannot expect to live the way we want
and this is where rules and principles come in. The very foundations of any principle are built upon
its underlying morals, ethics and laws, which are expected to be accepted universally (Chippendale,
2001).
A society may have its ... Show more content on Helpwriting.net ...
The paper then evaluates International Accounting Standards Board's (IASB) attempts to develop a
conceptual framework and the current state. In the final section I will discuss and reflect upon the
evidence presented to support the topic of this essay along with a conclusion of facts and ideas
presented.
The need for a conceptual framework
As we can understand from above that one person's principle cannot necessarily be another one's
too; there needs to be an independent body, which can produce universally acceptable principles to
resolve matters systematically and uniformly. When we talk about the introduction of a universal set
of principles in the field of accounting, it was the famous stock crash of 1929, which wreaked havoc
in the financial markets around the globe and created a situation where the need for generally
accepted accounting principles was felt the most! (Lawrence et al, 1993). The resulting economic
downturn, which lasted until 1939, was one of the gravest depressions ever recorded in the history
and a lack of universal accounting standards was blamed to be one of the reasons for over valuation
of stocks and overtrading. Although the depression arose in the United States but output losses,
deflation and job cuts were observed all over the globe (Romer, 2003). Between these times the
accounting profession started to promote the idea of independent audits and

An Organization Customer Support, Finance, Accounting,...
Change Proposal In an organization customer support, finance, accounting, sales, marketing, and
operations are some of the different divisions that many businesses consist of. In this report it will
display the proposal modifications that will affect the sales division at the Kudler's Fine Foods
organization. The purpose of this report is to examine the structure and operation of the sales
department at Kudler's Fine Foods and obtain the authorization to implement a certain types of
changes which will help the sales department operate more effectively. The first area of this report
will explain why a change is required and how the proposed changes will benefit the organization.
Then, this report will examine the four areas of change management and how each area's purpose
relates to the problems faced by the company. After that, the report will provide a summary of how
company management will use the projected changes to make adjustments in the work environment.
Lastly, this report will support the change proposals position by demonstrating information
regarding the company's expected return on investment
Need for Change Implementing a change management program at Kudler Fine Foods will assist
management as they seek to appropriately control the change within their organization (Leban &
Stone, 2015). The change management program's main purpose is to ensure that upper management
employees accept and understand the types of changes that are needed to maximize

Financial Reporting : Private And Public Accounting
Private Company Financial Reporting
Background Information Private and public accounting have long been discussed and disputed in
regards to financial reporting. Since the Financial Accounting Standards Board (FASB) was created
in 1973, accountants have called for different accounting regulations for private and public
accounting sectors, as private companies do not have the resources to meet the complex
requirements of public companies. Private companies currently are not required by law to issue
annual or quarterly financial statements. Private companies do, however, have the option to apply
the U.S. Generally Accepted Accounting Principles (GAAP), cash basis, or accrual accounting to
their financial statements (James, 2012). When the FASB was created it had a mission statement "to
establish and improve standards of financial accounting and reporting that foster financial reporting
by nongovernmental entities that provides decision–useful information to investors and other users
of financial reports" (James, 2012). FABS was created as the financial accounting and reporting
rules for both private and public companies. However, since financial reporting was so complex,
there were other accounting organizations within FASB that stepped in to assist with creating
different accounting policies and procedures for financial reporting. The Financial Accounting
Foundation (FAF), through FASB, and the Governmental Accounting Standards Board (GASB)
assisted in developing

Change In Accounting For Leases Case Study
Change in Accounting for Leases Sweeping transformation of current lease accounting rules will
have widespread impacts for nearly all companies. Will companies reduce the lease period for a
term of less than one year due to the complexity of the new regulation? The globe is dynamics and
also the accounting profession has to be dynamic to respond to changes that occur (Dirksen, 31). On
that note, the Financial Accounting Standard Board (FASB) has introduced a new regulation on how
to account for leases (codes 842–10–15–3). Based on FASB rules, leases are classified as either
operating lease or capital lease. The operating lease is usually less than a year and can be canceled at
any time; however, the capital lease is completely the ... Show more content on Helpwriting.net ...
The latest guidelines may have a broad influence on the lessees on the tax incurred due to leasing if
there is no reassessment done. Leasing enables companies such as airlines that lease aircrafts and
retailers that lease stores, to make use of tangible assets and intangible assets without incurring
significant capital outflow during the initial stage of conception. Aswath noted that firms with
increasing operating lease expense over time would have a net capital expenditure reflecting this
growth. Therefore, the changes of the standards will have a profound impact on the lessees.
The new theoretical change will increase transparency. The core principle of the new guidance is
that lessees are obligated to recognize the assets and liabilities for leases with lease terms of more
than twelve months, regardless of the classification as either financial or operating lease, on the
balance sheet as a right–of–use asset and corresponding liability. The decision on whether lessees
should consider accounting for leases on a yearly basis is fundamental and will be influenced by the
management perception of the new regulations. However, it will tend to create complexity in
accounting if an organization decides to account for leases for a longer period. That
notwithstanding, it has to be noted that businesses have to make profits by cutting costs and this can
be achieved via economy of scale

Accounting Differences Between Profit And Not For Profit...
Hospitals, schools, religious organizations, and charitable organizations are all not–for–profit
organizations. Not–for–profits are either member–serving or community–serving and focus on
providing services to either the members or the community and does not exist to make a profit.
Furthering their cause is more important than making a profit. Member–serving organizations
include credit unions, sports clubs, trade unions, retired serviceman's clubs and their responsibility is
to benefit its own members. Community–serving organizations can be local or global, and includes
aid and developments programs, medical research, and education and health services. This paper
will look at the accounting differences between for–profit and not–for–profit organizations. Unlike
for–profit organizations, not–for–profits don't have owners, they have a board of directors, many
have paid staff some use volunteers. Not–for–profits can generate excess revenues but they aren't
divided to shareholders as for–profit organizations, they must be retained for the organizations self–
preservation, expansion, or future plans. Not–for–profits face strict government regulations. Most
larger organizations are required to publish their financial reports detailing their income and
expenditures publicly with the exclusion of churches who don't have disclose financial information
to anyone including church members. An accountants job at a not–for–profit is to prepare budgets
and financial information for grant

Organizational Structure Of The Salvation Army
ASSIGNMENT 2: Organizational Structure, Reporting, and Responsibilities The Salvation Army is
an international organization, which spans over a hundred countries, so there is a difference between
its strategic and tactical organization. Its strategic organization refers to which divisions and corps
report to which territory, while its tactical organization refers to the local structure of each individual
corps or social service section. As an Accounting Assistant, I am knowledgeable about the
responsibilities of the local organizational structure as well as my own tasks and duties. On an
international scale, the organizational structure of the Salvation Army is based upon a military
model. The Salvation Army is led by a General, who usually works from the International
Headquarters at London, UK. The Salvation Army is spread out over 124 countries, so each country
is considered a territory, which is the responsibility of Territorial Commanders who report to the
International Headquarters. Many countries are large enough that they are split into several
territories for easier management. Each territory is broken up into smaller administrative regions
called divisions, which are managed by Divisional Commanders who report to the Territorial
Commanders. Finally, each division has several corps and community service centers, which are
managed by Corps Officers (Our Structure). The Salvation Army's organizational structure is the
result of its large size. The Salvation Army

Fmc Course Netherland
Financial Management & Control – IM07CC CEMS
Dr. Marcel van Rinsum Associate Professor RSM Erasmus University Department Accounting &
Control mrinsum@rsm.nl Introduction Financial Management Control Systems (FMCS) form the
bridge between the organization's strategy and its operations. Their purpose is to align managerial
behaviour and decision making with organizational goals. Although management controls are
typically embedded in the organization's financial management and accounting systems, their design
and use should be based on a thorough understanding of how managerial behaviour is influenced by
typical control system elements, such as target setting, performance measurement and rewarding.
Indeed, while the proper design of ... Show more content on Helpwriting.net ...
Hand–in case notes (20%). Cases are solved by teams of students; 3. Written exam (60%; to pass the
course a minimum grade for the exam of 5.0 is required. The other grades will only count when you
pass this threshold). This is an individual test. Presence is required for the lectures. The written
exam will be based on the literature discussed during the lectures, additional material presented
during theme–discussions and lectures (made available on Black Board), and a selection of the cases
discussed. More information on groups, lectures and contents will be made available on Blackboard
Course literature – Articles & cases. (see course program).
2
The course program for Financial Management & Control is as follows: Topics 1. Financial
Management & Control: Introduction Date Oct. 27 Literature Readings 1
2. The Economics and Psychology of Financial Management & Control
Nov. 3
Readings 2 and 3 Case 1
3. Financial Management & Control: Measurement and Organizational structure Nov. 10
4. Financial Management & Control: Myopia
Nov. 17

5. Financial Management & Control: Subjectivity
Nov. 24
Readings 8 Case 4
6. Financial Management & Control: Controllership, Environment & Culture
Dec. 1
Readings 9 Wrap–up
7. Extra session
Dec. 8
T.B.D.
The required readings are as follows: 1. Merchant,

Organizational Structure Essay
Organizational Structure of Chick–fil–A MGT 230 Tamitha Sprenger October 4, 2012 Charlene
Beamon
Organizational Structure of Chick–fil–A One key responsibility of working as a manager is to
recognize the best way to organize and run an organization. A manager who can work with and put
into motion the structure and plans of a company is very important to the life of the organization.
Chief Executive Officer of Chick–fil–A Dan T. Cathy is an example of such a manager and business
owner. Chick–fil–A began its journey in 1960 in Hapeville, Ga. Since then the second ... Show more
content on Helpwriting.net ...
There are also staff departments, which are the researchers, marketing, accounting, and sales
specializations (Bateman, 2011). Because each Chick–fil–A has a private owner, the store operator
would be the line department and the corporate office will be the staff department. As defined by
Bateman, a Functional Organization departmentalizes around specialized jobs, such as accounting,
marketing, and production. Each Chick–fil–A restaurant operates under their own management;
however the marketing, production, accounting, and human resources departments operate from the
corporate office (Chick–fil–A, 2011). Since, the structure of an organization dictates how the
company will grow, creating a strong foundation will benefit a company in numerous ways. Within
any business there are the organizational functions that can create the type of structure an
organization will have. A business's functions are the things it does. Production, sales, and marketing
are a few examples Chick–fil–A has within the company. The organizational structure defines the
relationship and interactions between the different parts of the company, and identifies how the
chain of command runs through the different levels. When money is earned at a fast pace, it opens
doors for the company to expand. As the company grows, they begin to hire more employees and
they offer new products.

Case Study Of Toshiba
TOSHIBA
Toshiba's is one of Japan's best consumer electronics brands. It's have about 140 years old, but in
2015 after Toshiba's boss has quit the Japanese conglomerate over a 152bn yen about 780m
accounting scandal.
Organization goal:
Organizations exist primarily to achieve their goals to make maximum profits from the sales of
widgets. People in organizations from an coherent whole, identifiable, and work together on the
different aspects of the shared organizational task in unified, coherent, mutually interdependent way.
Organizations are rationally designed to achieve those goals that we can deploy human.
There are different between mission, goal, and objective.
Mission: the vocation of person or group of people, and used for a LT guiding vision or vocation
Objective: the ... Show more content on Helpwriting.net ...
after accounting scandal Toshiba boss has quit the Japanese conglomerate over a 152bn yen
(£780m) accounting scandal. threatened to undermine investors' confidence in the country, the
government said.
Hisao Tanaka, the company's president and chief executive, will be replaced. Norio Sasaki, who is
vice–chairman, Atsutoshi Nishida, who is an adviser to the company, and Tanaka's predecessors,
will also leave. Toshiba overstated its operating profits over several years in accounting
irregularities involving its top management, an independent panel of accountants and lawyers said
on Monday.
This scandal $52bn in annual sales has shaken a country that has embarked on sweeping governance
reform championed by Prime Minister Shinzo Abe. It has also raised awkward questions about
processes across corporate Japan, in the biggest business scandal since 2011
Question C (6)
Organizations learning
Is an area of knowledge within organizational theory that studies theories and models about the way
an organization adapts and

Accounting Is Within Organizations As A Means Of...
"Accounting is within organizations as a means of determining financial stability. An accountant can
help someone who is having a hard time managing their own personal bills or this can also fall
under a company and or business. An accountant is responsible for looking over a companies overall
wealth, profitability, and liquidity. Accounting professional is one of the oldest and most respected
professions in the world.
This profession is a systematic process where a person has to be trained in or has already had
training in it. They have to know how to identify, record data, measuring, classifying, verifying,
summarizing, interpreting and communicating financial information. This is all important for n
accountant to know for them to be able to help a person who needs help with business or company.
They need to be able to tell they company or business about its profit or loss for a given period of
time. They should be able to tell the value and nature of a firm's assests, liabilities and owners
equity.
This paper is about accounting, describing how accounting has changed over the last ten years. How
much the salaries have changed as well. An accountance gets paid more now then before; it is also
one of those jobs now that more people are going for. The accounting professional that's adding
value today is a business partner with all the other stakeholders in that company. Today people take
their taxes to an accountant instead of doing their papers. That's how the demand

Why Accounting Is Basically A Language And Information...
"Without accountancy businesses would find it hard to function" Accounting Introduction
Accounting is basically a language: a language that provides knowledge and information about the
financial position of an organization. When we study accounting we are basically learning this
expert language. By learning this language we can analyse and understand the financial operations
of any and all forms of organizations. The accounting information be broken down into three core
categories: Operating Information Another term for operating information is "day–to–day
information". It is the type of accounting information which is needed by the organization itself to
conduct its business such as paying the employees, tracking sales or payments from existing debtors
and also information regarding payments to creditors. The operating information is basically related
to the working capital of the business. Operating information comprises the supreme amount of
accounting information and also provides the foundation for the other two types of accounting
information. Financial Accounting Information This is the type of information that is used by
stakeholders such as managers, shareholders, creditors, banks, the public, the government, etc. to
make choices involving the organization and its activities. Shareholders would want information
regarding their investment; whether it is worth it and whether they should buy or sell shares, bankers
and creditors would want to know if the

Information Systems Strategic Planning Risk And...
BA531 Business Performance Management
Week 1 Assignment
Information Systems Strategic Planning Risk & Performance
David Nagus
Grantham University
Professor Duhn
Sept 3, 2015
1. State a simple definition of performance management.
Performance management is a process that provides feedback and accountability and also
documentation for performance outcomes. It is a forum to help employees channel their talents
toward organizational goals.
2. State the three major strategic choices facing firms.
Globalization, Competition, Out Sourcing
3. Explain the seven major forces which drive interest in performance management.
Economy:
a) Failure to explain the strategy: A reason for this failure is managers and employees cannot explain
the ... Show more content on Helpwriting.net ...
g) Broken budget process: Annual budget exercises are viewed as fiscal routines by accountants that
do not reflect future volume drivers.
4. Explain the relationship between performance management and value creation. is a process by
which managers and employees work together to plan, monitor and review an employee 's work
objectives and overall contribution to the organization. Value creation is the primary aim of any
business entity. Creating value for customers helps sell products and services, while creating value
for shareholders. The two tie together because the company wants to improve on their internal
processes and that includes having products or services that customers will buy and use and that is
the ultimate goal of an organization to create streaming revenues.
Read more: http://www.referenceforbusiness.com/management/Tr–Z/Value–
Creation.html#ixzz3kszAFSaP
5. State the four customer–facing trends which drive customer satisfaction.
Customer Service–This is the first contact a customer will have with a company basically the face of
the organization and if that fails everything else will too.

Improvement–Making sure the way things are done to continually improve the customers
experience
Act on findings–If there is an experience where a customer has a problem find the cause and fix it
Optimize–This means use existing resources or find other resources to

External Factors
Impact of External and Internal Factors on the Four Functions of Management External and internal
factors such as globalization, technology, innovation, diversity and ethics can greatly impact the four
functions of management. Functions such as planning, organizing, leading, and controlling can be
influenced by these different internal and external factors since organizations need to ensure that
they are addressed properly for business success. In addition, knowing the external and internal
factors help organizations in identifying the business risks that exist in the environment in which
they operate. This paper will focus on United Way, a non–profit community–based organization that
was initially found in communities, large and small, ... Show more content on Helpwriting.net ...
Diversity Diversity is "variety of something, such as opinion, race, color, style and or gender"
("Diversity," 2008, n.p.) In order for a company or organization to be diverse it needs to value
diversity by respecting and appreciating all aspects of an individual, including race, gender, religion,
skin color, nationality, sexual orientation, gender identity, physical abilities, age, parental status to
name a few. That is what The United Way of America stands on and strives for. United Way is built
up of all different walks of life and in order for the non–profit organization to be able to strive
everyone must be able to get along and work well with each other. To make sure the organization
stays diverse, United Way of America has formed a Diversity Cabinet to eliminate discrimination.
United Way is made up of all types of individuals from every walk of life to form their cabinets,
their volunteers and their customers. United Way's Core Value statement is "Diversity and Inclusion
are core values for United Way. We aspire every segment of the community in every aspect of our
work and to demonstrate our commitment to and accountability for an inclusive environment in
which differences are recognized, respected, valued and celebrated" (United Way, 2008, n.p.).
United Way also feels that its inclusive and diverse organization gives the

The Role of Management Accounting in Organizational...
THE ROLE OF MANAGEMENT ACCOUNTING IN ORGANIZATIONAL CONTROL
SYSTEMS: PRELIMINARY EVIDENCE OF AN ORGANIC APPROACH
Associate Professor Chris Durden School of Business James Cook University PO Box 6811 Cairns,
Qld 4870 Australia Phone: +7 4042 1015 Fax: +7 4042 1474 chris.durden@jcu.edu.au
Professor Hector Perera Department of Accounting and Finance Division of Economic and Financial
Studies Macquarie University, Sydney Australia hperera@efs.mq.edu.au
THE ROLE OF MANAGEMENT ACCOUNTING IN ORGANIZATIONAL CONTROL
SYSTEMS: PRELIMINARY EVIDENCE OF AN ORGANIC APPROACH
Abstract There seems to be recognition in the literature that traditional management accounting and
control systems (MAC) have limitations. However, there is limited ... Show more content on
Helpwriting.net ...
A focus mainly on conventional financial and non–financial based measurement and control is
considered too narrow in scope (Otley, 2003, 2001). There is an increasing expectation that MAC
systems should be innovative in design, flexible in operation, and should enable rapid organisational
change in response to capricious environmental circumstances (Otley, 1994; Otley et al, 1995; Otley,
2001; Nixon & Burns, 2005). This implies an extension beyond traditional ideas of management
accounting and organisational control.
The research presented in this paper examines the interface between MAC and organisational
strategy by means of a case study of a New Zealand manufacturing business operating in a turbulent
environment. Key findings relate to the important role of an organic approach in the development
and support of a strategic focus to MAC. A relatively small privately owned business was selected
for the research because it has been suggested that, unlike large public corporations, such
organisations often have strong visionary management and may adopt a broader and more inventive
management accounting focus (Mitchell & Reid, 2000; Dillard et al, 2005). Further, such
organisations could be seen as potential innovators in relation to MAC practices.
2
The remainder of the paper is organised into five sections. The next section discusses literature
relating to a contemporary MAC framework, which underpins the focus of the case study. The

Acc 541 Accounting Standards Board Paper
Accounting Standards Boards
Leslie Brian
ACC/541
November 14, 2011
Delphine Agnor Wolsker
Accounting Standards Boards
The field of accounting is constantly evolving. This is true not only for the theory of accounting
itself but also the entities that govern its theory and practice. Presently, the Financial Accounting
Standards Board (FASB) and the International Accounting Standards Board (IASB) are faced with
some of the biggest challenges to date. To understand the significance of these two boards, it is
necessary to understand their histories, relations between the boards, and the standards that they set.
Also how the knowledge of these boards and the field they lead, gained through the masters of
science in accountancy ... Show more content on Helpwriting.net ...
The works of the APB were known as APB Opinions. The APB was criticized as well, so the AICPA
appointed two committees, from whose recommendations the FASB was founded in 1973
(Schroeder, Clark, & Cathey, 2011, p. 5–9).
International Accounting Standards Board (IASB) As stated earlier, the IASB arose from specific
needs of the accounting industry and the public. As international trade has increased, the need for
transnational accounting information has increased as well. This sparked the demand for
development of international accounting standards to make financial data between countries more
comparable. In 1973, the International Accounting Standards Committee (IASC) was formed to
develop these international standards. The standards issued by the IASC, prior to 2001, were called
International Accounting Standards (IASs). In 2001, the IASC made the International Accounting
Standards Board (IASB) the official international standard–setting body. The standards issued by the
IASB are called International Financial Reporting Standards (IFRSs) (Schroeder, Clark, & Cathey,
2011, p. 82–87).
FASB and IASB Convergence The purpose of convergence by the two boards is to create a common
set of standards for use by both domestic and foreign entities to create internationally comparable
statements. The boards initially met in 2002 for a meeting known as the Norwalk

The Accounting Principles Of Financial Statements And...
Accounting in health care has profound effects on financial statements, and knowing the necessary
components to conducting financial reports and balancing the assets is vital. Many things contribute
to the overall foundation of the balance sheet and valuations for the health care organization. A lot of
moving parts are required to keep health care organizations running and afloat for the long–term.
One must understand the accounting concepts, and methods, terminology, in order to explain the
various uses on how they apply to balance sheets. Valuing assets and Generally Accepted
Accounting Principles (GAAP) method is effective for the right valuation as they will be explained
in the following paragraphs.
Differences between Cash and Accrual Accounting
Cash accounting is a simple method which deals with revenue and expense within the health care
organization and personal uses. This method can easily apply to everyday people as several people
have a personal checkbook; they use to keep track of their expenses and depositing money every so
often. Using a checkbook is how we withdraw money for expenses which is one standard way to
pay for items. Cash basis accounting is also applied when reporting salaries for physicians or
registered nurses as an expense and this would allow no revenue of patients treated by physicians
until the following year when profits are collected. As good as method this is for people, accountants
strive for a better way to assess the organizations'

Question 1:.Organizations Give The Accounting...
Question 1:
Organizations give the accounting firms important tasks that they cannot do it by themselves. The
services provided by public accounting firms will vary by the size and the expertise of the firm.
Accounting firms typically specialize in areas such as auditing, business advisory services, tax
accounting, bookkeeping and forensic accounting.
The type of accounting firm you hire depends on the nature of your business needs. Like audit firms,
These firms provide audits for organizations, small business's, companies, government entities and
individuals. These firms result of work appear annually.
Another firms are tax firms, These firms relates to tax work, for a corporate and individual level. Its
focus on tax ... Show more content on Helpwriting.net ...
Unikai overcome the material misstatement, Because of the auditor report opinion. That makes sure
that all of the financial statements present fairly.
Question 6: Assurance services improving information 's for informed decision making. It provided
by certified public accountants (CPAs) or another external auditor.
With too increasing demands of a exertion market for specialists the having to do with role played
revision of approaches to status of education.
In accordance by all of the European standards and guidelines on action of higher progress (ESG) a
dressy paradigm of higher progress is first–year undergraduate centered clear to learning, learning
and reckoning of results.
Question 7:
The auditors' publish on financial statements should suppress a clear stylistic device of reception on
the monetary statements generally, based on rethink and evaluation of the conclusions destroyed
from reference obtained in the branch of knowledge of the audit.
Consolidated financial position of the group, consolidated financial performance, and consolidated
cash flows.
Question 8:
If an external auditor discover mistakes, it is his responsibility to warning the management 's about
it and if management does not take right actions he should withdrawing from the deal .
Question 9:
Audit risk is the risk that occurred when an auditor may issue an

Financial Accounting Standards Board For Profit And...
Introduction The Financial Accounting Standards Board (FASB) determines financial accounting
and reporting standards for profit and nonprofit organizations that follow the Generally Accepted
Accounting Principles (GAAP) (FASB, 2016). The FASB establishes various accounting standards
that better guides the organization financially and promotes transparency with a broader
understanding of its financial status through reporting of useful information that can be provided to
future investors and board members. One standard is FASB Statement of Financial Accounting
Standard (SFAS) 117 which enhances the "relevance, understandability, and comparability of
financial statements issued by those organizations" (FASB, 2016a). The following paper provides a
brief description of the nonprofit organization, the American Littoral Society (Society), summarizes
findings of the financial status of the Society when considering FASB SFAS 117 and their 2015
financial statement (American Littoral Society, 2016); discusses internal and external control
policies; and gives recommendations and conclusions in sustaining financial integrity. The American
Littoral Society The American Littoral Society (Society), established in 1961, is a nonprofit 501(c)3
organization headquartered at the Sandy Hook Gateway National Refuge located in Highlands, New
Jersey. The organization's soul mission is to care for the coast and does so through conservation,
restoration, advocacy, and educational outreach. The

Forensic Accounting and Your Organization
Forensic Accounting and Your Organization 1
Running Head: FORENSIC ACCOUNTING: WHAT IT CAN DO FOR YOUR ORGANIZATION
Forensic Accounting: What It Can Do For Your Organization
Kira Bailey
Dr. Harper
BUS 520
Strayer University
Charleston, SC
ABSTRACT
Forensic accounting is the application of financial skills and an investigative mentality to unresolved
issues, conducted within the context of the rules of evidence. Organizations hire forensic
accountants for guidance when evaluating potential business transactions to look for suspicious
signs of accounting activity, provide expertise during litigations, look for signs of suspicious activity
and fraud by ... Show more content on Helpwriting.net ...
If a dispute is brought to the courts notice, the forensic accountant can testify as a witness. The
world of forensic accounting involves grasping the seriousness of a situation and looking beyond
numbers. It is more than just your regular accounting or basic detective work. Because it has such
unique elements, it is an unusual combination that has been and will always be in demand. The
forensic market has seen a great deal of activity in recent years and is set to continue in the future.
The growth of regulatory compliance requirements and the increase in fraud has seen a related
growth in demand for forensic accountants and forensic technologists both within and outside the
profession. Research confirms that preventing fraud and revealing deceptive accounting practices
are in strong demand. Forensic accounting procedures to detect financial

reporting fraud should be increased. Fraud costs companies in the United States $652 billion dollars
annually. Fraud is a widespread problem that affects every organization regardless of size, location
or industry. There has been an 80% increase in FBI corporate fraud cases since 2003 (US
Department of Justice, 2008) and a 26% increase in U.S. identity theft convictions since 2007
(Identity Theft Task Report, 2008). Audit teams need to be trained to incorporate more forensic
accounting procedures into their audit practices and retain more forensic

Computerized Accounting Functions and Organizations...
TYPES OF COMPUTERIZED ACCOUNTING SYSTEMS By Kathy Adams McIntosh, eHow
Contributor Businesses use financial information to create statements and to file income tax returns
at the end of the year. Some businesses use manual accounting systems, but many businesses opt for
computerized accounting systems to simplify the process and reduce errors. Businesses can choose
between different types of computerized accounting systems. 1. Purpose * A computerized
accounting system serves many purposes for the business owner. It improves accuracy, enhances
reporting capabilities and simplifies recording. Accuracy increases because math processes occur
automatically without human error. The business owner can record each transaction in the ... Show
more content on Helpwriting.net ...
At the end of each period, nominal accounts are wiped clean and their values relegated to real
accounts. An Explanation of Accounting System Tracking of Revenue & Expenses By Alan Li,
eHow Contributor Nominal accounts are closed out at the end of each accounting time period. In
accounting, the accounts that record the values of individual items and phenomenons can be divided
into either real or nominal accounts. Real accounts are used to keep up to date on lasting items such
as assets, liabilities, and equities. In contrast, nominal accounts are used to keep up to date on
certain phenomenon such as revenues and expenses within a set time period. At the end of each
period, nominal accounts are wiped clean and their values relegated to real accounts. 1. Cash and
Accrual Bases * Almost all accounting is done on either a cash or an accrual basis. Cash and
accounting bases differ on when revenues and expenses are recognized. Recognition means to
record the transaction on the accounts in acknowledgment of its occurrence. Cash basis recognizes
revenues and expenses when cash or cash equivalents are either received or paid out for either. In
contrast, accrual basis recognizes revenues and expenses at the times of their occurrences. Revenue
Recognition * Accrual basis accounting attempts to recognize revenues and expenses at the times of

Likert’S 4 System Approach Was Published In 1961, And Likert
Likert's 4 System Approach was published in 1961, and Likert argues for what he considers is a
"generalized theory of organization" (Mumby 100). Likert sums it up that all organizations can be
summarized into one of four systems. Each of these systems reflect a certain leadership style
reflected in an organization and they also consist of 7 dimensions. The seven dimensions are as
follows; employee motivation, the characterization of the communication process, the interaction–
influence process, decision making process, the type of goal setting, the control processes and its
performance characteristics.
Likerts 4 System Approach consists of the Exploitive–authoritative approach, Benevolent–
authoritative, Consultative and Participative. ... Show more content on Helpwriting.net ...
On the Plante Moran website they've posted their client satisfaction rates that supports our claim.
Plante Moran used an independent firm to conduct a survey to the clients that they serve and
positive feedback was received. Between 95–99% of their clients agreed that they would
recommend Plante Moran to other people and companies, they across the board agreed that the staff
at Plante Moran are trustworthy, courteous and professional. The staff is responsive and takes the
time to build relationships with clients. The staff at Plante Moran are industry experts and they
demonstrate technical expertise and delivers on their promises. Bottom line, Plante Moran meets all
the needs of their clients.
Throughout their customer focused ideology, and being a participative system approach Plante
Moran has succeeded and strengthened their company wholly. They hold a 13% turnover rate when
the industry standard is 15%, and the communication processes within Plante Moran keeps projects
on track and promotes a healthy relationship with the staff and clients equating to higher
productivity organizationally– wide. According to Mumby, Likert advocated specifically for the
participative approach because it "most effectively taps into human resources and is the most
productive organizational system" (Mumby 101)
RECOMMENDATION/ACTIONS:
1. Create an informal support group or type of dialogue

Samsung 's Accounting Probe And Its Impact On The...
In July of 2015, Toshiba Corporation announced that an independent party had discovered that there
were accounting irregularities. Accounting irregularities sounds like a nice way to say, they have
uncovered fraud. In addition, Chief Executive Hisao Tanaka's accounting irregularities forced him to
resign. At the time of the initial announcement, the overstatement was thought to be around $3.2
billion in charges ("Toshiba 's Accounting Probe," 2015, para. 1). How can this happen? The why
and how can usually be summed up to greed and poor ethics in the leadership and culture inside of
these large organizations. However, to help us understand the scale of this scandal, it is important to
look at the time line and disclosures as the company ... Show more content on Helpwriting.net ...
By doing so, the seller can recognize some gain or loss related to a project in every accounting
period in which the project continues to be active. The method works best when it is reasonably
possible to estimate the stages of project completion on an ongoing basis or at least to estimate the
remaining costs to complete a project. (para.1) Already we start to see that this method in itself is
not at fault, but rather it creates an environment where people who have poor ethics can manipulate
the system to provide a more favorable outcome. On May 8, Toshiba announced it was expanding its
investigation and setting up a third–party committee, canceled dividend payments and withdrew its
earnings forecast. ("Toshiba 's Accounting Probe," 2015, para. 4). Again, to the outside observer
who is paying attention this does not sound good. Clearly the problem was well known and
widespread throughout the organization. On May 13th, Toshiba announces it is likely to take mark
downs in operating profit for three years through March of 2014 ("Toshiba 's Accounting Probe",
2015, para. 5). On May 22nd, Toshiba extends the investigation to three more business units (para.
7). This is the first indication that it might be far more widespread for instances of improper
accounting. The company reports that it found 12 instances of irregularities, including not

Analyzing Career Choices
Analyze career choices choosing
Introduction
Career choice can be very difficult to make especially when faced with a decision to choice between
two attractive job offers (Clinton & Van der Merwe2006). Certainly, each of these jobs will have its
positive and negatives aspects. Thus, how would you make an informed choice on the best offer?
This requires a good decision–making system. This report presents a way such decision can be
carried out.
Accountant and auditor job
Pay and compensation
According to the US Bureau of Labor Statistics (2012), the average annual pay for accountants and
auditors is $61,690. The amount the lowest paid accountants and auditors received was $38,940,
while the highest was about $106, 880 (Bureau of Labor Statistics, 2012). Majority of accountants
and auditors are full timers and some work more than 40 hours in a week. However, longer hours
are normally at particular periods such as during tax or budgeting period.
Work environment
Majority of accountants and auditors work from offices either employed or self–employed, however,
a few work from their homes. They may as well work from their clients offices. Accountants work
in various industries; in 2010 the following industries employed most accountants and auditors.
Accounting, tax preparation, bookkeeping, and payroll services
24%
Finance and insurance
8%
State and local government, excluding education and hospitals
7%
Manufacturing
6%
Management of companies and enterprises
6%

Organizational Norms Paper
Norms are a standard, model or pattern, and organizational culture is the customs, rituals, and values
shared by the members of an organization that have to be accepted by new members. "Norms may
be written or unwritten, verbalized or not verbalized implicit or explicit. As long as individual
members of the group understand them, the norms can be effective in influencing behavior." (OrgB
4, pg. 138). My curiosity is how the norms and culture of a profession such as Accounting might
differ from the norms of an organization as a whole, and conversely how they might be similar.
"Formalized norms are written up in organizational manuals that set out rules and procedures for
employees to follow, but by far, most norms in organizations are informal." ... Show more content
on Helpwriting.net ...
A norm of spectacular customer service will sell your products and engage your employees.
Tolerating poor performance or exhibiting a lack of discipline to maintain established processes and
systems will impede your success." (Heathfield). Which is true of subsystems and organizations as a
whole, if one department is not accountable for what they are responsible for, the organization as a
whole, can fail. Subsystem norms must to align with organizational norms and culture, otherwise,
"when your work culture is strong, most people in the group agree on the culture. When your work
culture is weak, people do not agree on the culture. Sometimes a weak organizational culture can be
the result of many subcultures, or the shared values, assumptions, and behaviors of a subset of the
organization." (Heathfield). "When the organization culture supports teamwork, team members
understand how the strategy of using teams fits in the total context of their organization's strategic
plan and success goals." (Heathfield). Furthermore, "in a successful team culture, teams understand
where their work fits in the total context of the organization's mission, goals, principles, vision, and
values." (Heathfield).
In conclusion, accounting, while being a profession capable of making its own norms, specifically
by being more task focused than people focused, will still need to align its norms in a way that will
complement the norms of the organization. "Values alignment helps the organization as a whole to
achieve its core mission. When values are out of alignment, people work towards different goals,
with different intentions, and with different outcomes. This can damage work relationships,
productivity, job satisfaction and creative potential."

Financial Accounting And Reporting Of An Organization
Financial Accounting and Reporting course work 1
Title: Financial accounting and reporting
Student Name: Mengting KE
CEG Number: MK24366
Supervisor Name: Nilam Sultan
Date of submission: 14/02/2016
Total word count: 2042
Introduction
According to Black (2009: 2), accounting can be defined simply as the recording, summarizing and
interpretation of financial information. A more detailed definition is that offered by the American
Accounting Association (1966), as follows: 'The process of identifying, measuring and
communicating economic information to permit informed judgments and decisions by users of the
information'. This means that, in terms of identifying, this should focus on the key financial segment
of an ... Show more content on Helpwriting.net ...
The Income statement is known as 'profit and loss statement'. Normally it shows the revenue and
expenses.
The Balance sheet is known as 'Statement of Financial Position). It is showing the assets, liabilities
and capital.
The Statement of cash flow is showing the changes in the entity's cash flow during the financial
period.
Main users of financial Statements
Users of financial statements are same as stakeholders. Stakeholders can be defined as people who
care about the company. But Main users of financial statements can divide into seven user groups:
Investors, Lenders, Suppliers and other trade creditors, Employees, Customers, Governments and
their agencies and The public. According to the financial statement, they can get useful information.
Investors are people who invest money in companies in order to make the profit or get advantages.
They need to know whether it has the risk to invest in this business or company, they need to
consider about does this company have an internal financial problem? Also, they need to know how
much they can get after they invested in this company.

Lenders are people who lend money or something to someone or a company. For example, Bank.
The Bank needs to know dose this company has the ability to repay the loans and interest. Also
potential lenders need to decide whether to lend or not.
Suppliers and other trade creditors. Suppliers are people who

Diversity In Accounting
Diversity in accounting leadership roles continues to be a challenge for the accounting profession.
During my accounting career I have been employed by organizations in a variety of industries from
retail, sales, service, hospitality and currently a satellite services provider. My personal experience
over the years is a slow growth in diversity within the accounting profession. Even with an increase
in woman and people from various ethnic groups attaining accounting degrees there is still a lack of
leadership roles in the accounting profession. There is an increasing change in demographics but
organizations lack leadership in accounting to representing the increasing diverse demographics.
Organizations recruit and can maintain talent but lack ... Show more content on Helpwriting.net ...
For some organizations diversity training is limited to informative programs, providing networking
avenues and sensitivity training. While some organizations wholly embrace incorporating diversity
as paving the road for the organizations future success. The Bureau of Labor Statistics report dated
August 2014 states that for 2013 out of the total employed in the category of Accountants and
Auditors 77.8% White, 8.6% Black / African American, 11.9% Asian and 7.3% Hispanic. These
numbers far from represent the face of clients accounting professionals are currently managing.
Corporate diversity programs are visible to employees and easily accessible. Corporate efforts and
accomplishments in strategic planning and implementation of programs are publicly celebrated. Yet
labor statistics demonstrate recruiting and maintaining talented diverse employees in the profession
of accounting is a current and ongoing challenge. Based on a 2013 survey diversity in accounting is
lagging with only about 25% of ethnically diverse employees in the accounting profession. (Supply
and Demand for Accounting Talent at Record Levels., 2013). Public accounting firms, private
industry and associations such as American Institute of CPA's, National association of Black
Accountants, Association of

Accounting Is The Key Financial Segment Of An...
Introduction
of an organization, like liabilities, assets and capital. Measuring, on the other hand, refers to the
budget of the company and it shows a true and fair view of the organization. Next, communicating
refers to the financial information which is transmitted to the people who need this information.
In other words, accounting is the language of business which can help stakeholders well
understanding the business and make the correct decision. Also, the purpose of financial accounting
is to provide useful information to others to show the value of a company or business. Financial
accounting aims to give information that others can use so that they can understand what the
company is valued at.
Financial Statement
There are three financial statements in the accounting – income statement, balance sheet and
statement of cash flow.
The Income statement is known as 'profit and loss statement'. Normally it shows the revenue and
expenses.
The Balance sheet is known as 'Statement of Financial

Cost Accounting Information Play A Role For Manufacturing...
Cost accounting information play a crucial role for manufacturing organizations in making internal
decisions. It is important for management to understand the cost implications of any decisions that
they make for their organizations. Managerial accounting under which cost accounting lies, provides
the management with a break–down of internal manufacturing and operational costs that help them
in making the right decisions for their organizations. Some of the decisions that are made using cost
accounting information include pricing decisions, production quantity decisions and inventory
management decisions. It is important for manufacturing firms to monitor internal costs and control
them in order to realize profits. This presentation will ... Show more content on Helpwriting.net ...
For instance, electricity bills can be considered to be mixed since there is always a fixed charge that
is payable regardless of electricity units used and a variable charge that depends on the number of
units of electricity used.
Tata Tea Manufacturing Costs
Tata Tea has fixed costs that amount to $300,000 per year. The fixed cost covers the company's fixed
overhead costs, salaries for permanent employees (who are mostly managerial employees), rent,
utility bills, government licenses, etc. The company also has variable costs which are dependent on
the level of activity in the manufacturing process, the raw materials used, labor hours used, variable
overhead costs, machine hours, selling and administration overheads, etc. The company uses two
costing methods to evaluate its costs. These are Variable costing and Absorption costing. Tata Tea
manufacturing, and operational costs are computed as follows to arrive at the net income.
Manufacturing Costs Information: $ $
Selling price per Kg $ 5.00
Manufacturing costs:
Variable Costs per unit produced:
Direct materials $ 0.20
Direct labor $ 1.30
Variable manufacturing overhead $ 0.50
Fixed manufacturing overhead per year $ 20,000.00
Selling and administrative expenses:
Variable per unit sold $ 0.20
Fixed per year $ 180,000.00 Year 1 Year 2
Units in beginning inventory –
Units produced during the year 100,500

Financial Accounting : Essential For A Management Of...
While I was reading this book, I realized that financial accounting is essential for a management of
organizations or companies because leaders have to know a cash flow in order to keep companies
sound. If leaders could not understand balance sheets, income statements and cash flows and not
manage their finance properly, they might experience the lack of cash or could unluckily wrap up
their business.
Leaders and even business managers nowadays must have financial competence that was not
expected in earlier days. They have to keep accosting records clearly in order to prepare tax returns.
Financial terminology is too difficult for people who do not study to understand. Leaders and
managers, therefore, need to learn basic financial terms to keep their job or to be successful in it.
They also need to know the rules of accounting well enough to achieve their goals without trouble.
Leaders and managers need to know what happens in the finance department. They have to continue
keep their eyes on it (Siciliano, 2014).
In my opinion of the article "After his business went sour, he blames M&T and former loan officer,"
Mr. Drilling might not be a good businessman and Mr. Whipple seemed to be a loan officer who was
not supervised well. I think that both are to blame. The bank also has responsibility for that.
"Want this job? Let me sleep with your girlfriend." I cannot imagine that an interviewer ask about
this to interviewees while interviewing. I felt shocked when I saw this title.

Modern Accounting Systems in Modern Organizations
Modern accounting systems have become the foundation from which the modern organization can
rely and depend upon to maintain a strong efficient strategy that will help the organization grow.
The modern accounting systems embraces the old accounting practices that have been used for
hundreds of years and builds upon that platform to give modern organizations control over the
finances. There must be set in place internal controls to keep the company assets from being stolen
and that is why modern accounting systems utilizes many internal controls with the organization.
The modern accounting system is one of the most valuable assets that a modern organization has in
its possession because modern accounting systems make better use of the ... Show more content on
Helpwriting.net ...
Knowing exactly which accounts are being debited and which accounts are being credited is
essential to maintaining financial records and keeping the organization on the right track for success.
Modern accounting uses debits and credits through the accounting equation which is used to
determine what accounts are debited and what accounts are credited to keep a harmonious balance
between the debits and credits. The accounting equation is like the groundwork for the debits and
credits and that is why modern accounting systems utilizes the accounting equation no matter what
the account may be because the assets must always equal the liabilities, owners equity. In the
modern accounting systems each debit must have a credit to keep the balance in the accounting
equation.
[At] the heart of modern financial accounting is the double–entry book–keeping system. This system
involves making at least two entries for every transaction: a debit in one account, and a
corresponding credit in another account. The sum of all debits should always equal the sum of all
credits, providing a simple way to check for [errors] (Sharda Gangwar, 2009).
The third way in which modern accounting systems have made a difference in modern organizations
would be with the adjusting process of accounting to maintain records that are up to date and
includes all transactions. If every transaction is completely accounted for in the financial records
then the company will not be in violation of

Forecasting Sales and Developing Budgets
Forecasting Sales and Developing Budgets
Introduction
This paper will synthesize the findings from the Cassar and Gibson (2008) study. Analogies and
experiences will also be used to discuss and analyze the study findings. In addition, the relevance of
these findings to the relationship between forecasting methods and budget development will also be
discussed. Finally, this paper will also make recommendations on how organizations may address
the strategic relationship between planning and performance.
A synthesis of the findings from the Cassar and Gibson (2008) study
There are many variables that are used in making forecasts, and these variables include patterns of
past sales, sales in the current period, the economic ... Show more content on Helpwriting.net ...
In other words, the more complex the product is, the more variables there are to consider in
developing a sales forecast, especially for an organization with a new innovation that has no product
history to use to create forecasts. This is especially true of new products in the pharmaceutical
industry. It is also likely that the additional variables that will be discussed here were also factors
that could have been modified to be included as part of the Australian firms described above to
further analyze the results of each of these organizations in the study in order to improve
forecasting.
Some of the variables that must be considered regarding the pharmaceutical industry might include
consumer awareness of the disease state and the amount of advertising as well as the number of
vendors selling similar items (Cook, 2006). Cost is also a factor, as is the propensity for a given
physician to correctly diagnose the disease state that the product covers. Additional factors that
affect whether a given patient will actually fill the prescription and use the medication might include
the side effect profile as well as the dosing schedule. If the pharmaceutical is for a child, the taste of
the product would also be a factor to consider, as a competitor may have a better tasting drug that
the consumer is more likely to buy in order to increase compliance despite the better efficacy of the
organization's innovation. A weighting process can also be used to

Career Map Analysis
A career map encompasses detailed information that is thoroughly examined in order to implement a
strategy to achieve goals for a successful career. The information within a career map includes
imperative skills that have or have not been acquired that are representative of a specific career. In
addition, career maps also allow you to question what you may want in terms of a career and the
general goals needed to achieve them. Career maps help to solidify or build these questions by
outlining universal and unique skills, experiences, and personal characteristics. Career maps are in
essence the entire vision to your prospective career and outlines a specific plan that must remain
fluid and interchangeable to opportunity. The purpose of a career map is to allow you to organize
your strengths and weaknesses associated to a specific career. In doing so, you are essentially
outlining the needed information that a career may entail which allows you to do things in a timely
matter. In addition, by doing things in a timely matter, you are staying on plan with a path you have
created for yourself and improving the chances of you being successful. If you map out your pan
and find that most of the unique skills needed is not something you have acquired, you can better
prepare for alternatives. For ... Show more content on Helpwriting.net ...
One strategy involves joining a professional organization that is curtailed around accounting
students and exposing them to industry. By joining such an organization, I am able to network with
other prospective students and employers, thus improving my opportunities post–graduation of
acquiring a job. Another strategy involves creating a schedule on a monthly basis that keeps
everything secondary to my studies. By creating such a schedule, I am able to maximize my study
time and school work, which will lead to my 3.4, or higher,

The Roles Of The Social Pillar And Legitimacy Theory In...
Environmental Pillar
With the global warming and climate change posing imminent threat to the world, companies are
now taking measures to reduce the negative impact to the environment caused by their organization.
This may include reducing carbon footprint, finding renewable energy sources, and having policies
to reduce pollution (Nyfeler, 2013). Social Pillar
The organization must maintain the support of its employees, the stakeholders, the community, and
the government. The social Pillar appeals to the moral sense of the society. As an organization, it
must ensure that its policies and means of production ensure the welfare and rights not just of the
employees and stakeholders, but also of the consumers and general public (Journeault, 2016).
Economic Pillar
The main responsibility of an organization or a company is to ensure that it remains profitable.
However, the Economic Pillar does not focus only on the profitability of a company. It focuses on
the responsibility of companies to dutifully comply with all state regulations and policies, and
ensure credibility and integrity of its public disclosures. A sustainable economic model suggests an
efficient allocation and even–handed distribution of resources (Journeault, 2016). 3.2.3 Legitimacy
Theory in Accounting
In accounting, according to Tilling (2014), there are two major classes of Legitimacy Theory. The
first one is on an "Institutional Level" while the other one is the "Organizational Level." What is
important is that Legitimacy Theory is all about conforming to the Social Contract of the society, or
in this case, of the nation in which the organization is functioning. Institutional Level
The institutional legitimacy refers to how an organization gained acceptance from the society as a
whole at large. Legitimacy and Institutionalization become the same as for an organization to
become a recognized institution, its values, principles, purpose and goals must have been long
before established as socially accepted. Institutional matters affect all individual actions, influence
cooperation and are vital in distinguishing growth and stagnation, wealth and poverty (Colombatto,
2012).
There are four main factors for Legitimacy Theory at

Financial Accounting And Reporting Of An Organization
Financial Accounting and Reporting course work 1
Title: Financial accounting and reporting
Student Name: Mengting KE
CEG Number: MK24366
Supervisor Name: Nilam Sultan
Date of submission: 14/02/2016
Total word count: 2042
Introduction
of an organization, like liabilities, assets and capital. Measuring, on the other hand, refers to the
budget of the company and it shows a true and fair view of the organization. Next, communicating
refers to the financial information which is transmitted to the people who need this information.
In other words, accounting is the language of business which can help stakeholders well
understanding the business and make the correct decision. Also, the purpose of financial accounting
is to provide useful information to others to show the value of a company or business. Financial
accounting aims to give information that others can use so that they can understand what the
company is valued at.
Financial Statement
There are three financial statements in

Accounting
Question 1: * Proficient–level: * There are several important functions performed in an
organization, among which accounting is one of them. Define the accounting function and discuss
how it differs from double–entry bookkeeping. Answer: According to the Dictionary of Accounting
Terms, Accounting is defined as a one step process of recording, measuring, interpreting and
communicating financial data by preparing financial statements in order to reflect financial
condition and operating performance whereas Double–entry bookkeeping is the record of
transactions that require entries in at least two accounts. * What types of information are critical to
the performance of the accounting function in an organization? ... Show more content on
Helpwriting.net ...
* Distinguished–level: * For each of the selected opportunities, state the education and certification
requirements necessary to be considered for employment. Answer: CPA – CPA's need to pass an
exam prepared and graded by the American Institute of Certified Public Accountants (AICPA). They
must also meet other requirements such as obtaining a state license and may vary from state to state.
CMA's are management accountants that pass an exam prepared and graded by the ICMA and also
meet other requirements. Other management accountants can become a CIA and do internal audits
and must complete the IIA exam given by the Institute of Internal Auditors or IIA. Many CPA's
work in governmental accounting and they have essentially the same educational background as
accountants in public accounting and management accounting. For academic accounting it is
essentially the same testing and qualifications for CPA's but the accountants work for a two year or
four year university. Question 3: * Proficient–level: * The field of accounting can be divided into
two distinct, but sometimes overlapping categories. Describe the similarities and differences
between the two categories and provide examples of the users of each type of data that are the result
of the work in each category. Answer: The two categories are financial accounting and managerial
accounting. For financial accounting, information appears in financial statements that are

Nonprofit Vs. Non-Profit Organization
All organizations big or small, for profit or non–profit have a structure in which dictates how they
function. The evolution of communication with emails, video conferencing, instant messaging, text
messages and social media sites has forever changed how organizations communication is
structured. In a global work environment, organizations are now utilizing people with different
perceptions, backgrounds and work attitudes (Himmer, 2013). Organizational structure guides
coordination and allocation of tasks leading to the organization's goal. An organization structure can
specifically control and instruct how employees behave and what values are accepted by an
organization. In a globalized economy, many organizations redesign their structures to cater towards
the ever–changing work environments. Reshaping an organization structure may mean employee's
roles and responsibilities to align with cultural changes, in efforts to become more efficient and
productive. Pfizer the global pharmaceutical company has discovered that many of their staff hired
to develop strategies and innovate new ideas, were spending 20 to 40 percent of their time on
researching, creating documents, manipulating data and ... Show more content on Helpwriting.net ...
Non–profit organizations typically focus on society needs such as feeding the hungry or providing
shelter for the home less. Non–profit organization has no owners and focus on revenue exceeding
operational cost (Green, n.d). Where as a for–profit company has an owner or owners and main goal
is maximize profit for the owners and shareholders. Because TV is a luxury item and no one needs it
to survive, a non–profit would be a poor structure choice. Non–profits survive on the ability to help
society typically. There of course are some exceptions, REI is a non–profit organization owed and
controlled by its

Teaching Accounting And Finance At The Success Of The...
To obtain a challenging position in a company where I can contribute my knowledge and skills in
Accounting and Finance to the success of the organisation, through broadening organisational
learning and development, strengthening interpersonal relationships, displaying high level of
professionalism and promoting teamwork in the organisation.
Summary of Qualifications
 A dynamic and dedicated Accounting Professional with experience in Sales and Customer
Service;
 Communication and interpersonal skills, along with client liaison and organisational skills,
bolstered by administrative experience in customer–facing environments;
 Analytical and problem solving skills, with the ability to work under pressure and maintain high
degree of ... Show more content on Helpwriting.net ...
Notable Achievements:
 Worked as the temporary supervisor of the front counter when the permanent staff was on
holiday;
 Commended by the supervisor and shop owner for displaying reliability and providing
exceptional service
Spring Spice April 2014 – September 2014
Store Manager
 Supervising the staff in delivering services to ensure customers are satisfied with the food quality
and service;
 Dealing with suppliers to make sure that stock quality and quantity meet the standards of daily
operation;
 Being responsible for several operational tasks such as administration, inventories and price
changes;
 Working closely with team to figure out advertising strategies;
 Building rapports with customers in order to keep loyal customers and gain more new customers
for the business;
 Taking customers complaints and improve the service standards based on those;
 Recording daily sales and expenses and reporting to business owner.
Delaware North Companies, Melbourne Area, Australia November 2014 – January 2015

Accounting/Finance Intern
 Supporting Account Payable staff: sorting and processing daily

Implementing A Performance Management Communication
Implementing a Performance Management Communication An effect communication plan is a
critical part of performance management. Performance management affects everyone in the
organization. It helps employees understand how they are contributing to the organizations goals,
what is expected of them, how they are doing, and how they can continue to grow, develop, and add
value to the business (Duggan, n.d.). The communication plan describes what the organization wants
to accomplish based on the information they provide their employees such as, the objectives and
outcomes identified. The communication plan should outline individual responsibilities for everyone
that is involved in the performance process. In addition, the communication plan acts as a tool to
ensure that everyone has the right information in a timely manner (Duggan, n.d.). Therefore,
effectively communicating a performance management plan will ensure that all participants have a
clear and complete message, while ensuring that feedback is incorporated into the message
(Todericiu, Muscalu, & Fraticiu, 2012).
Communication Plan An effective communication plan should address the following questions for
all employees within the organization. Without an effective plan, the organization can suffer from
misunderstandings, lack of information, decrease in performance, and suffer from increased
employee turnover.
What is Performance Management? Every employee within the organization should understand
what

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