Accounting for Managers 3. BUDGETING When you have completed this section‚ you should be able to: • Explain the benefits of budgeting • Describe a budgeting process • Explain the difference fixed and flexible budget • Prepare a simple flexible budget from a fixed budget • Compute variances from budget and actual data • Prepare a cash budget • Explain the setbacks of traditional budgeting • Explain the problems of budgetary slack • Explain the impact of globalization to the budgeting process
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Do we really need manager in organisation? In today’s traditional organisation it is definitely you will come across a Manager title regardless which field or industry you are in. and generally like the most managers‚ their job description is to “manage” and taking on greater responsibility‚ ensure that day to day business is running in efficient manner as well as tasks is completed when obstacle comes in way. Often in some large organisation‚ you may find that managers may not be as capable as
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The role of a financial manager is a complex one‚ requiring both an understanding of how the business functions as a whole and specialized financial knowledge. The head of the financial operations is called the chief financial officer (CFO). The structure of the company varies‚ but a financial manager is responsible for the same general things across the board. The manager is responsible for managing the budget. This involves allocating money to different projects and segments so that the business
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WHAT GENERAL MANAGERS REALLY DO Assessment 1:Essay by Louisa Cindy General managers are top of employee‚ who hold major problems and play a big role behind the organization or business. Being a manager takes a great deal of hard work‚ leadership‚ and dedication. They have responsibilities to take control‚ motivate‚ and monitoring each part of the organization. The pressure of being a manager is not as easy as what people think‚ they tend to be efficient and effective in the same time. In an
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WHAT EFFECTIVE MANAGERS REALLY DO (KOTTER‚ 1982) 11 12 1 2 10 9 3 8 4 7 6 5 MBA Public Governance 4 Management & Organization Dynamics Hugo Hendriks April 2004 Nijenrode University Management & Organization Dynamics April 9‚ 2004 What effective managers really do (Kotter‚ 1982)1 This paper is part of my exam of Management & Organization Dynamics at Nijenrode University. This paper starts with a summary of Kotters 1982 article What effective managers really do ‚ by an experimental
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Google Fortune magazine named Google the best of the 100 best companies to work for‚ and there is a little doubt why? Among the benefits it offers are free shuttles equipped with WI-FI to pick up and drop off employees from san Francisco Bay area locations‚ unlimited sick days‚ annual all-expense- paid ski trips‚ free gourmet meals‚ five on-site free doctors‚ $ 2‚000 bonuses for referring a new hire‚ free flu shots‚ a giant lap pool‚ on-site oil changes‚ on-site car washes‚ volleyball courts‚ TGIF
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When I think of a financial manager‚ accountant quickly comes to mind. The role of accountant and financial manager are similar in several ways and often times they work closely together on various projects. The role of an Accountant is to ensure that their organization is run efficiently‚ make sure their records are accurate‚ and that their taxes are paid properly and on time. Accountants perform a broad range of accounting‚ auditing‚ tax‚ and consulting activities for their clients. They record
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Volume 28 Number 7 2002 35 Financial Planning‚ Managers‚ and College Students by Joe James‚ W. Hadley Leavell‚ and Balasundram Maniam‚ Sam Houston State University‚ P.O. Box 2056‚ Huntsville‚ TX 77341 Abstract Prior research indicated workers including many college students were ignorant regarding their own finances‚ future wealth‚ and retirement planning although in their business courses they learn the importance of managing and maximizing other peoples’ wealth. To obtain an idea of
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react to it. The role of the financial officer‚ thus‚ becomes crucial to meet these technological‚ economic and political‚ changes. In today ’s business world what is the role of a financial manager? We have all heard at one time or another that "a financial managers wears many hats." The role of the financial manager has expanded beyond traditional responsibilities related to company ’s finances. A financial manager though his/her understanding of the company ’s financial health‚ the current market
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the Financial Manager The role of the financial manager has changed drastically during recent years. Previously‚ financial managers were seen as the stewards of the organization‚ since they were responsible to ensure the accountability of all organizational assets and to generate accurate financial reports. Today‚ their main goal is to maximize shareholder value. In order to achieve this goal‚ they have to be information managers‚ cost managers‚ controllers‚ consultants‚ and risk managers. However
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