Got a tricky question? Receive an answer from students like you! Try us!

Read the Bourmistrov and Kaarboe (2013) paper and identify its key contribution(s). Critically evaluate and discuss the role of - Essay Example

Only on StudentShare
Masters
Author : grahamelecta
Essay
Finance & Accounting
Pages 10 (2510 words)

Summary

The role of accountants and accounting practices in managing contemporary organisations Introduction With the emergence of trade globalisation, business organisations across the globe have undergone a strategic reformation along with the changes in the way a business operates…

Extract of sample
Read the Bourmistrov and Kaarboe (2013) paper and identify its key contribution(s). Critically evaluate and discuss the role of

However, the scope of accounting profession has tremendously changed over the last two decades, and today top managers encourage the accountants to be a management partner instead of a mere technical partner. In addition, the emergence of new business concepts like beyond budgeting has greatly increased the significance of the accounting profession because top executives cannot deal with those newly developed practices without the external support of accountants. This paper will identify the key contributions of the paper written by Anatoli Bourmistrov and Katarina Kaarboe and critically evaluate the role of accountants and accounting practices in managing contemporary organisations. Beyond Budgeting The work titled ‘From comfort to stretch zones: A field study of two multinational companies applying “beyond budgeting” ideas’ was prepared by Anatoli Bourmistrov and Katarina Kaarboe. In this paper, the authors give particular focus to management control systems (MCSs) operating on the basis of beyond budgeting ideas. They explore how changes in the design principles of these systems have affected the transition of decision makers from comfort to stretch zones. The research work also identifies how this transition has influenced the supply of and demand for managerial information. ...
Download paper

Related Essays

Identify and Evaluate the Sources of Long-Term Finance Available to the Company
Thirdly, the result from the previous estimation will be analyzed. Finally, this study will give recommendation on how the project should be financed if the board of director decides to carry out the project. TASK 1: Estimate the Weighted Average Cost of Capital for Made-Up PLC The author will now undertake the estimation of the company’s weight average cost of capital (WACC) by estimating the cost of capital from each financial source of the company. The company currently has three long-term sources of finance, which are ordinary shares, preference shares and bond issuance. 1: The Cost of…
4 pages (1004 words)
The Role of Budgeting in the Current Economic Climate
This essay offers a comprehensive review of the current state of budgeting theory and its implementation in the process of central planning of corporate firms. Initially the concept of budgeting was designed for the senior executives in an organization to control the activities in the organization directly from the business head. It acts as a management tool by which the financial health of the company can be controlled. The benefits of budgeting include that of forecasting the future performance of an organization, addressing its developmental issues, promoting cohesion amongst the different…
10 pages (2510 words)
Based on the above statement. discuss and critically evaluate the conceptual Business Model framework with reference to structur
Success in this case is not only valued in the amount of money that a business is able to make but is based on whether the organization is able to achieve all the objectives it had set out for itself at the beginning of the business. For example, a Non Profit organization does not focus on increasing their profit margin but have other objectives on hand (mainly to do with helping others) and it is by achieving these objectives that they consider themselves successful. A business model will determine the structure and purpose of an organization as well as how that organization will evaluate…
5 pages (1255 words)
"European Monetary Union without a Banking or Fiscal Union cannot succeed." Please critically evaluate this statement with s
Before going into detail as to why and how fiscal and banking union can facilitate success of monetary union, it will be prudent to delve deeper into the aspects that are responsible in creating a state of financial instability in the European Union. It is worth noting that unlike the United States, fiscal measures are not exercised by the EMU and that is where the major crux of the issue lies. Genesis of Crisis EU witnessed a sovereign debt crisis and an unprecedented banking crisis in the recent years. It is important to note that both did not surface in isolation but they were interrelated.…
6 pages (1506 words)
Discuss the theory of purchasing power parity, by considering its various forms and examining critically its assumptions and the
The rate of exchange between two currencies can be termed as equilibrium when there is an equivalence in the purchasing powers of these countries at the domestic level (Taylor & Taylor 2004, p. 135). The theory of Purchasing Power Parity The formula for calculating purchasing power parity is as follows: S=P1/P2, where S refers to the rate used to exchange currency one with currency two, P1 is the price that good “x” costs when purchased in currency 1, and P2 is the price at which good “x” sells when purchased in currency 1. Based on the Purchasing Power Parity, there is an adjustment…
10 pages (2510 words)
Undertake a review of the current literature to identify the key determinants of capital structure since the global financial crisis
Undertake a review of the current literature to identify the key determinants of capital structure since the global financial crisis …
5 pages (1255 words)
critically evaluate budgeting as a tool for planning and control.
According to them, not only is budgeting a time consuming undertaking, it also is prone to manipulation by the management. Proponents of the budgeting process hold that it is only through budgeting process that firms can achieve proper financial planning. Despite having its advantages, budgeting has its disadvantages too. This paper aims at evaluating the pros and cons of budgeting, with reference to previous research done by different authors. Libby & Lindsay agree that budgeting has its own advantages and disadvantages. According to Libby and Lindsay, most organizations find budgeting as an…
5 pages (1255 words)