Accounting tools Essay Example | Topics and Well Written Essays - 1000 words

Accounting tools - Essay Example Most of the companies are getting dominated by the international competition. The primary cause of this competition is demand based supply and widely accepted e-commerce. Since, the utilization of management accounting tools is important for most of the companies with the aim of developing logical and reliable business strategies. The primary features of management accounting are to help the organisation in the area of decision making, control and support strategic planning (Kaplan and Norton, 1996, p.58). In this essay, the researcher will stress on the different aspects of management accounting tools and the effectiveness of management accounting tools. Discuss and evaluate the purpose and effectiveness of management accounting for modern business In the modern business firms, the management accounting is mainly used for taking competitive decision making by collecting, communicating information and processing. This tool helps the management of the organisation to control, evaluate and plan on business process. This tool also relates to the present strategy of the business firm with the existing ones. The function of management accounting is multidimensional and interrelated with the various departments. The mechanism contributes in monitoring different activities in business and helps the businesses to meet the goal of the organisation. In this function, the management and the board is mainly focussed on those activities which are the key drivers of future financial result. This controlling activities influence the corporate governance activities of the organisation. With the help of various analysis report, the management accounting track the lack in control system also and measure the divergence from the expected result. In the variance analysis, the management compares the expected performance with the actual performance (Brickley, Smith and Zimmerman, 2005, p.256). The approval of financial decision also depends on the management accounting decision. Mos t of the members of the audit committee (at least 40 %) hold the specific qualification. But it has been seen that the common management accounting tools is used by the audit committee rather than the directors of the business firm. In this point of view, at the time of taking financial decisions, management accounting reports are not adequately presented. On the other side, it is noted that the decision of Director is not sufficient for 69 % of the companies. Most of the major financial decisions are taken by the senior management of the company by utilizing the key areas of management accounting tools (Blocher et al. 2010, p.54). Most of the traditional business firms did not evaluate the performance of CEOs and senior management before general annual meetings. The management accounting tools determinates the financial results from various segment of operation that signifies the performance of CEOs. The modern businesses maintain good corporate governance practices by following co des of business practices, compliance to relevant laws and rules and regulation. The corporate behaviour is important to maintain the corporate governance. So, corporate behaviour should be stringent in corporate DNA by maintaining the principals and ethics. The management accounting mechanism sets the standard behaviour for the purpose of hard coding. This mechanism also provides the periodic report which highlights corporate culture monitoring result. On the other side, this is a tool which is a custodian of ethics. So, it is very easy for the business firms to trace the fraud and mal practices. Comprehensive Implementation of Management Accounting Tools: In this part the researcher

Evidence & Expert Interview Paper Essay Example | Topics and Well Written Essays - 750 words

Evidence & Expert Interview Paper - Essay Example In recent scenario, it has been reviewed that the healthcare sectors are facing challenges to effectively mitigate the accelerated health issues of common people. Leadership development and the organizational planning are considered to be the two most vital goals pertaining to any organization for its development. There are evidences in peer reviews and scholarly journals, which depicts about the impact of nursing leadership over staff satisfaction, patient’s outcomes and the retention aspects. Nursing leadership at diversified levels of the organization, especially in patient care drastically affects the organizational development (College of Nurses of Ontario, 2013; Sherman, 2010). Organizational planning, another vital strategy for any business fosters sustainability and growth of it. Correspondingly, organization planning will assist the nursing department in framing strategies to mitigate critical healthcare issues. This paper intends to discuss about the importance of th e aforementioned SMART goals within a health care sector. Moreover, the paper will also provide an insight on the peer reviewed articles, credible websites and expert view to support the aforementioned SMART goal’s importance to mitigate critical issues such as cancer within the healthcare sector. Peer-Reviewed Articles With reference to the article, ‘an evaluation of the RCN Clinical Leadership Development Programme: Part 2.’ by Cunningham and Kitson (2000), it can be ascertained that a program was being conducted in four acute hospital in England involving 4 senior nurse and 24 division sister to test, that if nurses are being accepted in a headship position will accelerate the quality of patient care. The intention of the program mentioned above was conducted to infer about leadership enhancement of the participants i.e. nurses. The process basically involved a survey asking the patients about the healthcare services they rendered. The data collected was then analyzed and an action plan was developed, which mainly focused on the development of leadership quality of the participants. Correspondingly, it was later measured that the program had a positive effect on the nurses, significantly improving their leadership skill (Cunningham & Kitson, 2000). With reference to the article, ‘Community and Home Care Services Provided to Children with Cancer: A Report from the Children's Cancer Group Nursing Committee Clinical Practice Group’ by Frierdich, Goes and Dadd (2013), it can be analyzed that a survey conducted by Children's Cancer Group Nursing Committee reflects and spread awareness among society about cancer and its endanger health effects. Furthermore, it has also been observed that conducting fairs and campaigns could contribute considerably in spreading awareness within the society. Correspondingly, the aforesaid scenario depicts about the effective organizational planning and its desired outcomes. Proper organizational pla nning for healthcare sector will ensure effective measures and awareness to mitigate critical health issues such as cancer under societal context. (Frierdich, Goes & Dadd, 2013). Credible Websites With reference to a journal published by INSEAD, feedbacks from patients motivates and inspire nurses to develop skills enhancing their performance, inspire them to do better, helps them to maintain