Accounting Synoptic - Essay Example

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Accounting Synoptic

The criticisms laid by Beyond Budgeting Round Table are more applicable to non-profit organizations than profit organizations. It is said so because the objectives of non-profit organizations are not specific and often link to multiple activities which necessitates trade off. Non-profit organizations are dominated by professionals and thus are less accessible to control systems and measures. Non-profit organizations incur a huge amount of discretionary fixed cost and the relationship between outputs and inputs are difficult to specify which raises difficulty in ascertaining profit. Non-profit organizations with their rigid rules and guidelines face problems in adapting to the changing policies, regulations and measures. Non-profit organizations use the concepts of traditional budgets to ascertain cost and reduction of cost of activities, but the members are very little concerned to the developments, improvements and benefits which the activities are pursuing or shall pursue. The strict governance under which non-profit organizations operate has made it static, inflexible, not responsive to the changing environment, not focused on the formulation of procedural strategic plans, has lead to increase in discretionary fixed cost and lacks vertical control and supervision. Thus the shortcomings of traditional budget have decreased the value of non-profit organization in the current scenario inspite of creation of value, which have in turn lead to decrease in its significance. ...Show more

Summary

The main purpose of this paper "Accounting Synoptic" is to answer some questions related to different types of organizations in the profit perspective (profit and non-profit organizations), budgeting operations aspects and its structure overall…
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