As a result they provide incomplete set of measures (Bowhill, 2008). The traditional management accountant fails to cover the assessment related to relative cost situation of its competitors. It is due to this reason that strategic management report is considered to be one of the most important forms of management accounting in the present days. The strategic management accountant emphasizes on the cost position, the procedure for an organization to achieve sustainable cost advantage and the cost of differentiation through which the products of an organization can be differentiated from others. The transition in the strategic planning and decision-making of the organizations can be seen through increasing incidence of various accounting tools like value chain analysis, balance score cards etc. The balance score card have been designed as one of the most effective performance measurement framework which evaluates the performance of the organization, employees etc (Smith, 2005). There are four main perspectives in the balance score card (Kaplan and Norton, 1996). The objectives of the balanced score card mainly focuses on achieving high profitability for the business enterprise, increasing the customer satisfaction, increasing the satisfaction level of the employees and creating high values for the existing stakeholders. The balanced score card is one of the most effective ways of designing strategies by means of which the organizational objectives can be achieved. It evaluates the performance of an organization from four main perspectives by creation of metrics, accumulation of data and analysis of the data that have been collected. The four perspectives include financial perspective, customer perspective, internal business perspective and learning & growth perspectives (Bischoff, 2011; Niven, 2005). The financial perspectives deal with factors such as growth in the income, return on equity, cash flow, sales etc. The perspectives evaluate and aid the determination of performance of any organization from the domain of profitability. This would further help in determining whether the present strategies are being executed in proper manner for the accomplishment of the objectives of the organization. The customer’s perspective directs towards the targeted niche to which the organizations want to cater their services and improve their performances (Mowen, Hansen and Heitger, 2008). The internal business perspective focuses on the improvement of the value provided to the shareholders by the organization. In this context, customer service, operating processes and innovation play significant role (Holl and Bohm, 2005; Eigenmann, 2007). The learning and growth perspective signifies the skills and core competencies of the employees. It also points at the technologies implemented which helps in formulating and utilizing the strategies. Another such framework is the value chain. The value chain deals with chain of activities which an organization
Strategic Management Accounting Table of Contents Table of Contents 2 Literature Review 3 Role of Strategic management accountant and its contrast with traditional management accountant 3 The contribution of strategic management accounting techniques for increasing the global competitiveness 5 Practical implications 5 Critical View 6 Reference List 7 Literature Review Role of Strategic management accountant and its contrast with traditional management accountant Strategic management accounting which is one of the forms of management accounting emphasizes on the information related to the external and non-financial factors of an organization…
The team consists of creative employees who have brought in their uniqueness to develop a social networking site which is used largely by high class society. Furthermore, the organisation has introduced its services in more than 20 languages to develop its usage in almost all the countries.
WOMEN IN ACCOUNTING Content Page Introduction 2 Literature Review 3 Historical Rise of women and their roles in accounting 3 Barriers and difficulties faced by women in the accounting industry 4 Work of various accounting boards in the UK 6 Methodological Framework 7 Presentation and Analysis of Data 8 Conclusion and Limitations 9 References 11 Appendix 12 Introduction Over the years, gender equality has become an issue that has taken a global dimension.
Goal setting theory is regarded one of the most reliable and practical motivation theories (Miner 2002). Some scholars, like Pinder (1998), argued that goal setting theory had demonstrated more empirical reliability than any other theory of employee motivation.
The wave of globalization has affected business operations in the world to a large extent and BP Oil Exploration Company is no exception. The changes in ideology and technology which are associated with the global economy have changed companies especially in their approach to management.
The team should identify the most suitable model that would identify areas of possible strengths to exploit in order to address the different concerns facing the business. The five forces model, for instance, is an effective mechanism of identifying the possible areas to exploit while strategizing to counter the challenges of a business.
The company was founded by Conrad Hilton and was originally headquartered in Beverly Hills, California since the year 1969. In the year 2009, the company shifted its headquarters from California to Virginia. It is important to highlight that the company is widely known all over the world for owning, managing as well as franchising a large number of popular hospitality brands.
There is a debate still going that whether or not this revolution or transformation that or world has gone through in the past couple of centuries, in form of globalization, industrial revolution, internet, free trade, information technology and
As gender equality advocacy continued, the way became paved for women to be seen in all aspects of life including education, profession, planning and leadership. Accounting as a subject and profession has its own part of the history as far as female
in a global context and this therefore explains the necessity to have a nation take strategic decisions regarding the sensitive sector (Prince, 2006, p. 414-416). In this understanding, this section reviews literature on the factors that influence strategic decision making
for auditors in this paradigm, maintaining transparency has emerged to be quite crucial to avoid possible discrepancies in the reporting standards and the gap persistent therewith. Similarly, regulations associated with accounting and auditing emerged as much rigid in the
15 pages (3750 words)Literature review
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