The role of accounting system in the UK for motivation - Dissertation Example

Extract of sample
The role of accounting system in the UK for motivation

Pertinently, accounting used to be a function that is merely focused on its ability to prepare financial statements to reflect the current state of the company to enable the manager of the latter to make sound decisions relative to their proper functioning. Nowadays, the accounting system has evolved to cater to one important function: to provide information necessary for business planning, decision-making and control. The importance of the accounting profession has been underscored by the dynamism and competitiveness of the business environment. In this regard, there is an utmost necessity for business strategies to focus on the development of various tools and models for the preparation of financial statements by which pertinent information are obtained. Accounting now is an essential part of strategic planning and control. In addition thereto, it is also through the development of accounting systems that the role of the accountants within a particular organisation is ensured. The importance of accounting systems is also underscored by the need to monitor the roles of accountants as they perform their functions (Broadbent and Laughlin 2005). ...
Download paper

Summary

Previous studies have all highlighted the importance of strategic measures by which the company can improve their performance. To meet the demands of an era characterized by intense competition, companies have adopted various strategies which are all aimed towards the betterment of their performance…
Author : abartoletti
Download 1

Related Essays

Accounting Restatements and Institutional Ownership: The Case of U.K (Dissertation Proposal)
the past years. The numbers of companies filing restatements with SEC (Securities and Exchange Commission) reached 25000 during the year 2005 and the initial nine months of the year 2006 which was evidently a record increase in the accounting history (Turner & Weirich, 2006). Empirical evidences based on the aspect revealed that the instances of accounting restatements increased almost eighteen-fold since 1997 (when the figure was 90) to 2006 (when the figure was 1,577). Researchers further stated that the frequencies of accounting restatements were recorded to accelerate from 2001 and gained...
11 pages (2761 words) Dissertation
Contemporary Management Accounting System
Hopwood (1976), in his book ‘Accounting and Human Behaviour” had stated that, “Accountants and other members of the management team searching for means of understanding and improving standard setting and budgeting; must therefore see the process in its entirety and respond to it as a complex human and technical problem rather than one standing in technical isolation.” This implies that there has been a paradigm shift in the principles and practices of management accounting. Management accounting no longer comprises of only the technical aspect of accounting, but also the multifaceted...
11 pages (2761 words) Essay
Contemporary Study of the Impact of Standardization and Harmonization of Accounting Standards
However, the existence of dissimilar accounting practices can be a crucial challenge linked with the aforesaid procedure. In this similar context, ethical dilemma plays an imperative part in harmonising along with standardising the accounting standards as it concerns certain significant moral values that include honesty, reliability, durability and integrity among others. From research methodological viewpoint, both quantitative as well as qualitative research approaches have been taken into concern. Moreover, valuable data associated with this research study has been collected through the...
32 pages (8032 words) Dissertation
Managerial Accounting
The balanced scorecard method comprises of four different perspectives like, customer perspectives, financial perspectives, innovation and learning perspective and lastly the internal business process perspective. By the implementation of these perspectives the balance scorecard captures the lagging and the leading indicators which gives a balanced notion over the performance of the organisation. The leading indicators of the organisation measure the development of a new product, timely delivery of the product, satisfaction of the customer, competency of the employee, etc. However, under the...
7 pages (1757 words) Essay
Accounting Information System
The company is in the process of determining the advantages and drawbacks of automatic feeding of data by the use of the GL software. Data extraction- this is the act of mining raw data from the accounting information system in use by the company. The question is whether the data can sustain numerous needs of the company and the accuracy of the data. Data analysis- after data has been extracted from the system, the company has to enter into the analysis stage where the details of the customers are identified to determine how they could be applied to increase the sales volume of the company....
5 pages (1255 words) Essay
Management Accounting and Finance in U.K. museums and music organisations
The European cultural funding have long been the subject of resentment for the arts organizations & artists of America. However over the last two years that is after 2010, as the severe minded conventional governments took step against the background of a profound fiscal emergency, countries across the European continent have focused on the arts segment for ruthless cuts.
...
36 pages (9036 words) Dissertation
Exploring the role of management accounting ratios techniques in enhancing the providing decision-making process: the case of Br
The fundamental principles of accounting that will be discussed for managerial purposes include liquidity, the pursuit of an optimal ratio between cash and assets. In addition, the cash conversion cycle will be described at length; with explanations for what sort of turnover can be expected for the operation in question. Details concerning organizational functionality will be discussed as well; with an explanation concerning potential pitfalls incurred through management and accounting failures. Data indicates that multinational corporations operating on this scale must be cognizant of...
32 pages (8032 words) Dissertation
Got a tricky question? Receive an answer from students like you! Try us!