References: Hilton, R. (2011). Managerial accounting: Creating value in a dynamic business environment (9th Ed.). McGraw-Hill. Hardcover ISBN: 9780073526928.…
3.Williams, J.R., Haka, S.F., & Bettner, M.S. (2005). Financial and managerial accounting: The basis for business decisions (13th ed.). New York, NY:…
We need financial and managerial accounting in order to determine exactly how a business is doing from a financial standpoint. Without financial and managerial accounting, an organization would not be able to determine whether it is making revenue or not. These tools make it possible for an organization to identify exactly how it is functioning. There are fundamental differences between financial and managerial accounting. Financial accounting delivers information that is used mainly by stockholders, creditors, and others externally. In comparison, managerial accounting concentrates on information that is used by managers, and staff members who work inside of the organization. A.J. Filipovitch (2004) explains, “There are two types of accounting—financial accounting (provides information to outside parties and is subject to outside audit) & managerial accounting (provides information to an organization’s managers and is normally not shared outside the organization)”. They are equally important in order for an organization to operate successfully.…
This course provides an introduction to the basic principles and techniques of managerial accounting, where the major intent is to provide information to internal decision-makers to maximize an organization’s operating efficiency and profitability. The course includes an introduction to alternative costing and reporting systems for service and manufacturing organizations, budgeting, variance analyses, performance evaluation, total quality management, and transfer pricing, plus analytical techniques including cost-volume-profit analysis and relevant costing and benefits.…
1. What are the expertise strengths and unique resources that each partner brought to the joint venture?…
relationship at issue, the need to generate a profit, the uncertainty of the marketplace, and the…
Recommend what can be done to influence the relationship so that it serves shareholders’ interests.…
However, when considering the security of a partnership, the disadvantages raise concerns about how safe an option a partnership is;…
Considerations to take into account for a partnership model are the potential barriers could be involved:…
This course builds upon, while still emphasizing cost and management accounting topics for manufacturing, merchandising, and service industries. Unlike financial accountants, management accountants are not constrained by externally imposed rules and regulations, e.g., generally accepted accounting principles. Therefore, there are no rulebooks or standards to memorize. Instead, the management accountant must focus on deciding what information is useful and relevant for decision making within the firm and how to provide such information in a timely, cost effective, and understandable manner. The course is designed to help you learn how to analyze complex information sets, apply concepts to new facts and situations, and explain accounting terms and concepts in non-technical jargon.…
Adoption of strategic total quality management philosophies Multi-criteria decision analysis model Christian N. Madu, John Aheto and Chu-Hua Kuei Lubin School of Business, Pace University, New York, USA Dena Winokur Marketing Department, Pace University, New York, USA Introduction In today’s competitive environment, quality is the key to an organization’s success and survival. To compete effectively, companies must embrace the principles of total quality management (TQM) and incorporate them into all of their activities. TQM calls for continuous improvement – a never-ending philosophy of change for the better.…
Budgets are beneficial because they can show the organization what strategies management is using to accomplish their business goals. They provide direction for employees to accomplish job duties towards the final result and allows them to understand which strategy is more important through the amount of resources that is allocated towards it. Budgets also ensure that the entire organization is working towards the same goal and provides a starting point for performance evaluations.…
7. Joint Venture; Legal and business perspectives, Barry JReiter and Melanie A Shishler, Dec 1999.…
PAGEREF _Toc413767695 h 5 Introduction of Company Project Description Desired Areas of Impact The MOV table below lists the potential areas that this project will impact and summarizes the measurable organizational value of the MAA. Organizational ImpactValueMetricTime FrameStrategicCustomerFinancialOperationalSocialTable SEQ Table ARABIC 1 MAA MOV Desired Value of the project Alternatives Analysis of Alternatives The following section analyzes the alternatives based on Total Cost of Ownership (TCO) and Total Benefit of Ownership (TBO). Total Cost of Ownership The following table analyzes the total cost of ownership for all the alternatives. MAA - Total Cost of Ownership ResourceDescriptionAlt 1Alt2Alt 3Alt 4TotalTable SEQ Table ARABIC 2 MAA - TCO Total Benefit of Ownership (TBO) BenefitsWeightsAlt1Weighted Alt1Alt2Weighted Alt2Alt3Weighted Alt3Alt4Weighted Alt4FunctionalUsabilityWeighted BenefitsTable 3 MAA TBO Recommendation Project Name Martial Arts Academy Project Charter TOC o 1-3 h z u HYPERLINK l _Toc413768458 Project Description…
4) How likely is it that the partnership will succeed over the long term? What will it take for…