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Organisational Context of Management Accounting - Essay Example
Finance & Accounting
Pages 10 (2510 words)
Organisational Context of Management Accounting Table of Contents Table of Contents 2 Introduction 3 Issues in Management Control & Accountability 4 Conceptual Analysis & Methodology 5 Agency Theory 5 Contingency Theory 7 Institutional Theory 8 Analysis, Discussion, and Synthesis 9 Conclusion 11 References 12 Bibliography 14 Introduction This essay addresses the problems of management control and accounting that was persistent at Ivy League University which lead it to introduce new ERP system…
The university receives research grant funds for which it has a fiduciary responsibility. The revenues from grants and contracts constitute 30% of the total operating budget of the University. The consolidated grant activity is reported other university funds because improper management of grant funds increases the risk position of Ivy. The grant activities are strictly assessed by the legal counsel and the internal as well as external auditor. The University’s Central leadership works towards decreasing inconsistencies in grant activities. Ivy has made an effort in business process redesign and system modernization within three functional areas i.e. financial management, administration of grants and contracts, and HR and payroll. Therefore, in order to create an integrated administrative system, Ivy had introduced ERP that was expected to decrease audit risk and increase fiduciary control. ...
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