Understanding Management accounting and Financial Management Essay

Understanding Management accounting and Financial Management - Essay Example Understanding Management accounting and Financial Management Considering the cash budget of Mowtown store, the management should be credited for the limited amount that is being paid as payroll as a wage. On the other hand, they have been getting the efficient services from the employees of the store. Another main factor that needs to be considered by the management is that they should look for the same policy reforms that affected their profit to rise with the highest percentage, i.e. the ending balance of February and May will indicate that. The managers must also look for reducing the costs such as shipping costs and maintenance costs. Budgeting and better management decision making and management control: An effective budgeting system will facilitate the management to make an effective decision making, which lead to the results that are expected by the management in the end of a period. Without a proper budgeting and forecasting system, the management cannot predict or decide what steps must be taken to expand or at least maintain the busi ness, what measures should be taken to reduce the overall costs, and how this framework must be established. An improper budgeting system will lead to a frustrated decision making process which might not be in favor of the management or a particular business.Budgets are prepared by the company operatives at various departmental levels; whereas the ‘master budget’ actually highlights the comprehensive financial plan for a particular period. The main objectives of preparing a budget which can also be termed as the advantages can be explained as follows: The budget must be prepared in order to direct the attention of the management to the future trends of the business, based on the results of the present trends and transactions. The budget actually affects the decision making process of the management and helps the system to reform the strategies and policies of the company. It allows the company management to critically analyze the activities running on in the business. T he proper budget allows the management to predict the problems and issues as well as key opportunities that can be controlled or covered in the coming period. The budgeting enables the managers to achieve their objectives as well as important goals of the company more efficiently. A budget will remind the management about what objectives they have set and how they have to carry out those. An effective budget also helps the management in terms of performance evaluation. A budget leads to the management making authorized actions. As mentioned above, an effective budget helps the management process. In terms of this process, the first thing that needs to be considered is the planning period, which should be future-oriented. The proper planning is totally dependent upon the statistics of business, i.e. current financial situation, and most authorized proof for that is given by the budget to the management officials. An effective budgeting will also state the condition regarding the goal s that have been set by the management in the beginning of the financial period, and whether the processes to meet these goals are being undertaken properly or not. This is

Histort Essay on Globalization Example | Topics and Well Written Essays - 1500 words

Histort on Globalization - Essay Example The Internet has made products more accessible to people all around the world and corporations are willing to dip their hands in the pockets of other countries. Globalization is basically an effort for a business to provide a product on a multinational effort in search for profit from wherever they can possibly get it, even if that includes having products manufactured for little cost overseas. This then has resulted in a lack of jobs in the United States due to globalization and has ultimately led to an economic downward spiral. Corporations thrive on the globalization of their business, able to make millions and offer their goods to developing companies. Occupy Wall Street is an anti-globalization group that currently protests shipping jobs overseas and keep the work here in the United States. It ks a movement designed to completely protest globalization because they expect for economic movements to stay local within our own government here in the United States. The western worlds currently dominate the majority of the world's economy and the United Nations plays a huge role when it comes to globalization. The United States plays a huge part in the United Nations due to the country being a giant in the corporate and developing realms of business. Alternately, globalization is also impacted on by embargoes that are set up in other parts of the world that can otherwise effect the rest of the world that are unable to trade goods. The economy as a whole is deeply affected in a negative way, particularly in the United States while there is a huge economic crisis going on. The value of a dollar is going down and will also affect other areas in the world and exchange rates which then also effects People on the political left have the tendency to want change while the people on the right wing do not want change. Conflicting visions are typically the topic of most political issues. Globalization is just another means for conflict in politics. It also results in a stru ggle between states. Some states have different resources to offer than others so globalization can effect the local economy as well as the overall national economy. The current Obama administration has the same policy that was passed from the Bush administration. Obama's stimulus package also plays a huge role in globalization not just in the United States, but also in other parts of the world because many other countries rely on the United States. Though it appears that Obama has tried to impact the economy, when looking at the bigger picture, there are still major issues in the United States that lead to unemployment, the middle class is the suffering class, and therefore contributing to the issue of globalization. It may have been a gesture of collective action but it was not quite effective enough or at least Americans are still feeling the burn of globalization's effects. The lack of jobs seems to be the largest sour idea when it comes to globalization, from the perspective of an American. Corporations not only are making money off of high priced items, but are shipping their jobs overseas to be performed at extremely low costs. Additionally, globalization is changing the world. Change does not just make the United States uneasy, but people in other economies do not know what to expect either. As a giant powerhouse of a country, many of the moves of other countries are impacted by the decisions of the United States. 2. The United States is struggling from economic recession and though it is the