StudentShare solutions
Triangle menu

Management Accounting - Essay Example

Not dowloaded yet

Extract of sample
Management Accounting

When budgets are imposed, department managers feel they do not have full control in their departments, which results in low morale and job dissatisfaction. This is the cause of the high turnover among his employees.
Participative budgeting encourage a bottom-down approach to budgeting, involving the lower-level managers in the process of planning. This bottom-down approach requires each department manager to submit their proposed budgets for their departments; and with the assessment of the top-level managers will be subject to either approval or revisions. This gives the department managers authority over their finances, without the feeling of being imposed by the top-level management, thus motivating the manager to stay within budgets’ and at the same time top-level management does not give up control over these departments so as not to let the costs balloon.
I would recommend participative budgeting for Mr. Sparkes to encourage support from department managers. As previously noted, participative budgeting encourage a bottom-down approach to budgeting, involving the lower-level managers in the process of planning. This bottom-down approach requires each department manager to submit their proposed budgets for their departments; and with the assessment of the top-level managers will be subject to either approval or revisions. This gives the department managers authority over their finances, without the feeling of being imposed by the top-level management, thus motivating the manager to stay within budgets’ and at the same time top-level management does not give up control over these departments so as not to let the costs balloon.
Participative budgeting gives department managers the authority they need to feel motivated in doing their jobs, without the top-level management giving up control. By involving the department managers, they will be more motivated to stay within their budgets, thus keeping their morale up and lowering the employee turnover ...Show more

Summary

Sparkes is the CEO of a large manufacturing company. He believes strongly that he is the keeper of all the knowledge of what is best for the company. Mr. Sparkes has traditionally prepared all of the budget estimates himself and then communicated the results to his…
Author : corkerymallory
Management Accounting essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Management Accounting"
with a personal 20% discount.
Grab the best paper

Related Essays

Management accounting
……………………………………………...6 References…………………………………………………………………………………………7 Introduction British Airways plc (BA) is one of the largest airlines worldwide and is considered as the national carrier of the United Kingdom based on its large fleet, international flights and destinations.
6 pages (1500 words) Essay
Management Accounting --
This contingency management depends on the manager’s personal leadership style. It also relies upon the talent and behaviours of the regular employees. The contingency theory is a line of thinking that there is no one ideal way of leadership. It also contends that certain leadership styles may be effective in some situations, but not so in others.
3 pages (750 words) Essay
Management accounting
Since the director’s of companies cannot execute their company’s strategies on their own, they have to rely on people and thus create an organization structure that allows decentralization of management responsibilities. According to Hoskin & Macve (1990, pg.
6 pages (1500 words) Essay
Management Accounting
Management accounting emphasizes on decision making and forward looking instead of the old or historical data which the basic accounting used to emphasize. There are different methods that have emerged because of management accounting and some of these techniques are; Activity Based Costing (ABC), Grenzplankostenrechnung (GPK), Resource Consumption Accounting (RCA), etc.
4 pages (1000 words) Essay
MANAGEMENT ACCOUNTING
This paper contains an introduction to the topic of discussion, literature review, a research methodology that was used to collect data, a section for analyzing the data, and a last section for conclusion. Table of Contents 1 1.0 Introduction 3 2.0 Literature review 4 2.1 Accounting 4 2.2 Management control/ accounting systems 5 2.3 Management accounting and decision-making 6 3.0 Research methodology 7 4.0 Analysis 8 4.1 Supporting arguments for Johnson and Kaplan’s (1987) argument 8 4.1 Arguments against the criticism issued by Johnson and Kaplan 9 5.0 Conclusion 11 References 12 1.0 Introduction The field of management has witnessed numerous transformations that are mainly attributed to
10 pages (2500 words) Essay
Management Accounting
Management accounting is a branch of accounting which mainly deals with various managerial aspects. This is primarily handled by the managers within the organization, and it is an essential component in taking appropriate decisions. The concept of management accounting comes under the Management accountant who is responsible for the preparation of financial statements, and management accounting report for appropriate decision making.
4 pages (1000 words) Essay
Management Accounting
"The process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources.
8 pages (2000 words) Essay
Management Accounting
This report aims to develop a blueprint for the implementation of management accounting system for the company according to its specific needs,
6 pages (1500 words) Essay
Management accounting
Strategy is mainly depended upon the mission, vision and values of the organization and the goal of BSC is to map the strategy and measure the strategy accordingly.
4 pages (1000 words) Essay
Management accounting
They play different roles in the process of satisfying the needs of the stakeholders of a particular organization. This essay attempts to provide a clear understanding regarding the differences that exist between the management
4 pages (1000 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