StudentShare solutions
Triangle menu

International Management Accounting: Answering Questions - Essay Example

Not dowloaded yet

Extract of sample
International Management Accounting: Answering Questions

Answer: In the era of merging cultures and competition in businesses, the criticality of management role and decision-making strategies has increased significantly. Decision making on the basis of estimates and assumptions has far been obsolete. The need of a systematic approach for decision-making has been felt, by companies and organizations to improve the authenticity and accuracy of the decisions made (Gelinas et al., 2010). This need urges the researchers and analysts to devise a methodology, which covers the useful data and information about the company’s revenue, loss and expenditures, which could aid in making company plans and decisions accordingly. Previously, the method used for gathering information, which would be the base of management decisions, was the Management Information System (MIS) (Gelinas et al., 2010). This system was based on manual data collection and there were great chances of human error and delay in forming reports. Maintenance was another viable issue with this system, causing company much time and problems in extracting old data and statistics. Practices show that the ambiguity in the system, leads to unfair approach in the decision-making process, due to lack of accountability of executives to the investors or creditors (Gelinas et al., 2010). MIS was also influenced by the environment and society norms of the region. In many organizations, cultural and economic factors influence the decision-making strategy and proposals of the top level management (Nicolaou, 2000). Managers from two different religions, or two different backgrounds, would have different decision-making criterion and approach. Many a times this factor influences largely on their problem handling and planning approach, which differs from the real interest or objective of the organization. Thus, a functional method was needed, which could curtail the influence of cultural and socio-economic factors from the decision-making phenomenon (Nicolaou, 2000, pp.103). These factors accounts for the design of the accounting information method to use in decision-making by executives and managers. It is commonly known as the Accounting Information System (AIS), in the corporate market. Its function is to collect information and generate accurate statistical and financial reports of the company or organization. These reports are available to both the internal management and executives and the external management that are the shareholders, investors or the taxation agencies (Gelinas et al., 2010). With the accuracy and transparency AIS provides in its reports, people related to the company have a clear idea and company’s standing, and the financial ups and downs. Looking into the history of AIS, we can draw a picture, of the limitations and problems in its implementation on a wider scale. Based on computer-aided technology, AIS was installed as legacy systems, which were expensive to install and maintain. Moreover, only professionals could operate the format and language used in those systems, with high complexity in generating report and comparing two or more data (Beke, 2010). The recent upgraded systems, have overcome many of the previous drawbacks, and have proved effective in collecting millions of statistical figures and ...Show more

Summary

International Management Accounting International Management Accounting Question Chosen: International management accounting research has largely examined the use of accounting information in relation to decision-making strategies of business organizations by focusing on evidence in the Anglo-American contexts…
Author : mhagenes
International Management Accounting: Answering Questions essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"International Management Accounting: Answering Questions"
with a personal 20% discount.
Grab the best paper

Related Essays

International Biz Management 4 questions
This thought is basically driven by company’s intention to find better marketing opportunities from Mexico and achieve greater competitive advantages as well. Though this decision causes concerns among major stakeholders like employees, suppliers and customers, the company finds it as an opportunity to reduce costs and increase its potential to gain competitive advantages through better manufacturing environment.
12 pages (3000 words) Essay
International Management Accounting Essay
The Enterprise Resource Planning is practiced and conducted by 'business, non-profit organizations, nongovernmental organizations, governments, and other large entities' (Thomas, 2002). The software package is required for the timely execution of the Enterprise Resource Planning system, which is able to provide functionality in a single package, from technical perspective the software package shall incorporate feature relevant to the payroll and accounting functions.
11 pages (2750 words) Essay
Management Accounting questions concerning cost system
Management by exception is the practice of concentrating on areas not operating as anticipated and giving less attention to areas operating as anticipated. Managers use information from variances when planning how to allocate their efforts. Areas with sizeable variances
6 pages (1500 words) Essay
Financial Accounting has become increasingly standardised and harmonized across organizations in different industries, while Management Accounting continues to be highly variable
It is equally important that manage accounting that are generated MUST vary from one industry or company to another. Also, it is a MUST that accounting data that is used by managers vary from one business type to another or one business location to
15 pages (3750 words) Essay
International Management (Questions)
This is an indispensable element of capitalism, which is the prevailing system in the West and in most economies. According to Charles Keagley, economic prosperity expanded for the eleventh
6 pages (1500 words) Essay
Answering multiple questions
They identify issues of concern; the work completed and lists the next steps to be completed. It also identifies successes and failures. One of the main differences between an RFP and
1 pages (250 words) Essay
Answering Questions
On the other hand, strategy making is like art and craft because it is a group that involves conflict, politics and compromise. It is a process that is very unpredictable and requires creativity. Additionally, it is an exploratory and emerging process
4 pages (1000 words) Essay
Answering Questions
Every country has different local political and societal conditions. These conditions form the basis of adaptation, and the influence of Muslim brotherhood activities. Conditions are such as sectarian, national, and religious conditions. One aim that the Muslim
1 pages (250 words) Essay
Answering three questions
As St Thomas Aquinas asserted, law deficient of moral content is “pervasive”. Natural law is founded on the tenet that despite the fact that nature contains man, he also has his own nature, which is to
6 pages (1500 words) Essay
Questions answering 2053
Multinational corporations refer to business enterprises that operate in more than one country. A refined attempt to describe the MNC would
2 pages (500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation