Management Accounting The Process Of Producing Management

Management accounting is the process of producing management reports and accounts which provide accurate and timely information for the use of internal parties within an organisation, such as departmental managers or chief executive officers. The information collected and produced include financial aspects such as amount of cash in hand, capital, liabilities, recent sales revenues, cost of production and also non-financial aspects such as employee’s performances or efficiency of production. In this era of globalisation and increased competition, firms and companies are starting to look beyond management accounting to run a business, that is by forming strategies. Strategy can be defined by an idea to ‘produce long term plans for the†¦show more content†¦Management accountants could incorporate competitors’ information like market share and budgets in the reports to allow comparability. For example the firm can bid at a lower price or try to lower the cost s below that of its competitor which increases its competitive advantage. The usage of competitors’ information has been incorporated into the business world as large companies in New Zealand, United Kingdom and the United States ‘found a high use of competitive position monitoring, competitor performance appraisal based on published financial statements†¦Ã¢â‚¬â„¢(Guilding et al.’s survey, 2000) [5]. Besides, management accounting information could emphasise on two ways to have a strategic advantage, that is through differentiation, and being cost leaders. Differentiation means that having products which are unique, and standing out from what is produced by the competitors. To do this, managers focus on producing better quality products, so that the firm could ask for a higher price, increase demand and supply in the market, which eventually leads to higher profitability. However, they have to keep costs as low as possible which is done through quality-cost analysis. Firms have to emphasise on producing low costs productsShow MoreRelatedA Perspective Of Traditional Budgetary System1577 Words   |  7 Pagesbeen facing an increase of competitive in business context. However, there are still some exist potential risks to cover current business challenges to set as a business accounting model to increase business financial value as a whole, since traditional budgetary system has pu rely focused on accounting not on managerial accounting in a real business issues and problems. There is a need to broaden its boundaries and focus on the issues involved in planning, designing and processing systems of managingRead MoreThe Cost Management Information System Essay1229 Words   |  5 PagesDiscussion Questions 1) As stated in the book, the cost management information system is one of two major accounting information systems within an organization. This subsystem’s burden is to generate outputs for internal users using processes needed to satisfy management objectives. Instead of being obliged by an external source’s criteria, it is ruled by people within the company. It differs from management accounting in that management accounting is more focused on how financial and nonfinancial informationRead MoreBenefits of Activity-Based Budgeting1467 Words   |  6 Pages more and more companies start to use ABB in the budgeting process. Referring to ABB, companies do well in their budgeting period. This shows that ABB itself has many outstanding characters. In this article we will compare it with traditional budget method, so that it could give us a general survey about the characters and benefits ABB has. What is Activity-Based Budgeting (ABB) Definition of ABB Brimson says ABB is a managing process that based on the activity level, in order to get lasting improvementRead MoreRequest Winning Case Study1524 Words   |  7 Pageseffort could also be grasped to customers specific conditions moreover every request are concerning usually short span. Underneath this cost accounting, the various book could also be maintained for every explicit occupation alternately occupation request. Vocation request winning is Associate in nursing expense accounting framework that gathers producing prices autonomously for every vocation. It’s real for organizations that may secured current of a standout amongst a attention-grabbing item andRead MoreInternational Financial Reporting System ( Ifrs ) Rules And Practices927 Words   |  4 Pageswith other countries’ accounting systems, the IFRS attempts to organize one financial standard system for businesses to report their financial statements. This article examines the relationship between domest ic and global standards of accounting. The concept of developing a modern accounting standard in the Czech Republic, implies that most companies in that country are not willing to change their accounting standards. Throughout the history of the Czech Republic’s accounting standards, companiesRead MoreCase Study: Activity Based Costing1452 Words   |  6 PagesAt a recent management meeting at Coverdrive Ltd, the members of the senior management team discussed the introduction of a new product to the company’s range of high quality, hand made cricket bats. A major agenda item was pricing. The management accountant, since his appointment, had given much thought to pricing policy and one of his concerns was that of dealing with the recovery of overhead within a full cost pricing policy. The discussion centred around the traditional method currentlyRead MoreManagement Accounting : The Father Of Accounting1415 Words   |  6 PagesIntroduction Accounting has be defined in various ways however almost every definition will describe it as a process that identifies, measures, analysis, and report data. Management accounting has not been the same since business started; it has come a long way from early member of civilisation using stone tablets for bookkeeping. Management accounting is used to aid managers make business decisions based on predicted figures and comparisons with actual figures. To follow is a detailed evaluationRead MoreAccounting Information System and Managers Decision Making921 Words   |  4 PagesThe function of the information system is to collect, store and process data into information, through the assistance of a set of interrelated components. The processed information is later distributed to support decision making in an organisation (Oz, 2006). Information system can be decomposed to two main elemental subsystems namely as Accounting Information System (AIS) and Management Information System (MIS). AIS mainly process financial transactions of an organisation. However, it also processesRead More Cost Accounting: Its role and ethical considerations Essay1054 Words   |  5 PagesCost Accounting: Its role and ethical considerations Introduction: Accounting is the process of identifying, measuring, and communicating economic information about an entity for the purpose of making decisions and informed judgements. The major areas of within the accounting are: Financial Accounting, Managerial Accounting/Cost Accounting and Auditing- Public Accounting Managerial accounting is concerned with the use of economic and financial information to plan and control the activitiesRead MoreManagement Accounting : Planning And Performance Management Systems1625 Words   |  7 PagesManagement accounting is described as â€Å"a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organisations strategy† (Blocher, et al., 2009). Many Changes in the business environment have occurred in recent years which have caused substantial adjustments in cost management practices leading to a contemporary

Understanding Genetic Engineering Essay - 1835 Words

What if cancer could be cured by eating a pear? Or if a crop of wheat could be developed so that it never rotted? These may sound like science fiction but theyre not as strange as they first seem to be, and may even be reality in the future. Fifteen years ago who would have thought that plants could be created to be immune to pesticides or that it would be possible to create a sheep that is exactly like its parent in every physical way? And yet both of these currently exist due to genetic engineering. Genetic engineering is a developing science that is viewed with a lot of public apprehension. No one seems to be able to explain what genetic engineering is, when it first began, or what the possibilities are for the future of this science.†¦show more content†¦Each rung of the ladder connects correlating pieces of information. There are four different connections, called DNA bases: adenine connects to thymine, and guanine connects to cytosine. Each pair forms a rung on the la dder. See figure 2 in the appendix. Although these four DNA bases can be placed in any different order, the correlating base will always be found on the opposite side of the ladder. Because there is no limit to the number of times that a base can be repeated there are unlimited possibilities for base combinations. Certain patterns in the DNA bases tell the cell what it will become. These patterns are called genes. Genetic engineering uses three different techniques to rearrange the pattern of the DNA bases and form different genes. The first of these techniques is called either the plasmid method or recombinant DNA. Plasmids are small rings of DNA that are separate from the chromosomes, these are often found in bacteria and can be easily manipulated using other bacteria or viruses(Call). The DNA code is broken by the bacteria or virus and a new pattern is able to be inserted into the DNA. The cell then reads the information and begins to produce the new trait. Another way of c hanging the genes is to use a needle to inject the new code into the cell. This process is called microinjection, and it is most easily done with larger cells. The third technique is called bioballistics; itShow MoreRelatedGenetic Engineering : The Field Of Biomedical Research1710 Words   |  7 PagesGenetic engineering is the latest experimental practice used in the world of biomedical research. This practice refers to humans modifying an animals’ genetic component in order to express a particular trait (Dale et al). The scientific community calls the animals produced by this practice as transgenic animals in order to distinguish between its wild type relative. This innovative technology paved ways for medical breakthroughs, along with the expansion of human understanding towards the mechanismsRead MoreDustin Peacher . Engl 1302.C09. Professor Mccovery. April985 Words   |  4 Pagesof Genetic Engineering and it s Ethics How far would you go to save human lives and to progress society for those in need? The benefits of genetic engineering have shown to outweigh the ethical and environmental consequences associated within the field. Genetic Engineering has shown to provide major benefits in the field of medicine and agriculture but is faced with extreme criticism and backlash, specifically on the basis of ethics. To understand the modern concept over field of the Genetic EngineeringRead MoreIndividuals Educated in Biology or Who Are Health Conscious Are Opposed to the Genetic Modification of Foods1324 Words   |  6 PagesIntroduction: Genetically modified foods are food products that have had their genetic make-up altered or changed using various genetic engineering techniques. This includes inserting foreign DNA in to an organism in order to introduce favourable traits or enhancing, altering or removing existing features of organisms. These are techniques that do not occur naturally in the environment and therefore GM is capable of creating the â€Å"ideal† organism. GM is used for various reasons but is usually advantageousRead MoreGenetic Engineering in Humans1282 Words   |  5 PagesGenetic Engineering in Humans Theist and Atheist Perspectives On the most surface level, human genetic engineering and human genetic modification are a new and rapidly developing field of science that deals with directly altering the DNA (genetic makeup) of a living human cell. From early science fiction to the present day, taking control of humans’ gen es and directing the flow of evolution has been a subject of debate for many people. Human genetic engineering or HGE tends to bring up thoughtsRead MoreEthics And The New Genetics1048 Words   |  5 PagesResponse Paper Dear Mr. Dalai Lama, In your excerpt, â€Å"Ethics and the New Genetics,† you presented the discovery of the advancement in genetic technology. You mentioned how scientist are able to change the genetic makeup of living things. Another key point presented in your article is the idea of cloning, where one is therapeutic while the other is reproductive. The article discussed that the advancement in technology and genetics should only be used to benefit people. However, you believed that usingRead MoreGenetic Engineering Should Be Controlled By Law1323 Words   |  6 Pages This paper explores scientists points of view about genetic engineering. Some of them are sure that it should not be controlled by law; others consider that genetic engineering has crossed the line and as a result should be limited. Nobody doubts that with the help of genetic engineering we can treat some diseases, change the appearance of our offspring and even give infertile women an opportunity to have children. But genetic engineering has also an opposite side. The case is that scientistsRead MoreThe Benefits of Genetically Modified Crops1191 Words   |  5 Pagesthe United States are genetically modified strains. Genetic engineering is very important to modern society because of the world’s expanding population and with the arising need of food; it provides an adequate source. Genetic engineering may have both advantages and disadvantages, but the future of mankind may be affected greatly if it is allowed to prosper as a modern science. Several main arguments that many people have about genetic engineering are the effects of scientific evolution, cloning experimentsRead MoreSocial Reality And Its Effect On The Body Of Water Essay1328 Words   |  6 Pagespeople from achieving what others can solely on the basis of genetic data. The only question is if genetic perfection is economically advantageous and allows better living conditions for certain offspring, why does society feel the right to put down the people who were not genetically selected? Yes, designer babies do have superior traits and are absent of all major diseases, but it still does not make sense that people without genetic perfection are considered to be pushed down to the lowest levelRead MoreGenetically Modified Animals : Genetic Engineering1518 Words   |  7 PagesUniversity Professor 08/23/2015 Genetically Modified Animals Introduction In this research paper on gene technology I hope to share some understanding in the process of gene transfer in animals, the process of obtaining genetically engineered animals, and analyze the social and moral implications associated with this gene technology in animals. Genetic modification of animals started thirty years ago with the production of genetically modified mice. Gene modification is the process of crossingRead MoreGenetically Modified Foods And The Human Body1159 Words   |  5 PagesEating healthy protects your cells from damage, which is why genetically modified foods shouldn t be an option. Genetically modified foods are foods produced from organisms that have had changes introduced into their DNA using the methods of genetic engineering. Not only are genetically modified foods unhealthy for your body, but they have negative effects on many other things. Bioethics allows technology to interfere with the natural nature of our foods and how they are grown. The avoidance of genetically

American nation Essay Example For Students

American nation Essay The Second Republic and Its FallOne of many hurdles that Nigeria had to overcome in the attempt to return to civilian rule, and then to have such a new system entrenched, was the fact that competitive politics encouraged recourse to sectional identification. On the one hand, there is need for a understanding of the nature of the dynamics of Nigerian society, especially with regard to the phenomenon of ethnicity. On the other hand, the theoretical formulations which already exist concerning the nature of politics in segmented societies must be confronted so that a closer approximation between such themes and the sociopolitical realities of Nigeria can be achieved (Joseph, 1987:43). The American-style constitution of the second Republic (1979-1983) was designed for Nigerians type of democracy where natural affairs rather than state are promoted to avoid the pattern of British parliamentary system where the winner-takes-all pattern. The parties in America conform to the Constitution due to their disciplinary disposition. In Nigeria, political parties were following the British style of politics, where distribution of revenues among the politician and their clients at national, state and local levels, are the order of the day (Shehu, et al; 1999:34). Bitter conflicts abounded within the political parties in both states and the federal level over the distribution of the spoils; hence, the inability of the politicals to manage the conflicts led to the demise of the democratic government in the Second Republic and the return of the military government. In the program of transition to the Second Republic, the military leaders primary concern was to prevent the recurrence of the mistakes of the First Republic. They believed that if the structures and processed of government and politics that had proved inappropriate in the First Republic could be changed, a stable and effective civilian government was therefore designed to address those fundamental issues, which were historically divisive, and to establish new political institutions, processes, and orientations. The second aspect of the transition involved the making of a new constitution and appropriate institutions. Decree number 25 of 1978 enacted the 1977 Constitution. It differed from the First Republic in 1963, in that, it introduced a United States type presidential system (Nwoked, 199:73). Previously, the executive branch of government derived its powers from the Legislative. Under the 1979 constitution, the President and the Vice-President as well as state governors and thei r deputies, were elected in separate elections. Furthermore, while senate was largely a ceremonial body in the first Republic, the new constitution gave the Senate and the House of Representatives coequal powers. There were other provisions in the 1979 Constitution that aimed at eliminating past loopholes. The first was the federal character principles, which sought to prevent the domination of power by one or a few states, ethnic groups or sections of federal center, and by one or more groups in the states and local government. The Second Republic was born in the elections for the state and federal offices that took place in five rounds during July and August 1979 (Diamond, 1999:434). Even though it was successful, but its image was dainted largely due to the administrate bias stemmed from the presidential election controversy of 1979. In general, the election was considered to be fair and free but the events that took place during the election such as fraud, victimization and electoral malpractices gave room for some of the votes to be disputed and thereby created an avenue for an election tribunal to be conducted. As a result of the ambiguous result of the 1979 Presidential election, its legitimacy was challenged, when UPN opponent Chief Obafemi Awolowo questioned the results of it that had the UPN candidate, Shagari, who supposedly won 25 percent of the vote in only twelve, and hence not quite two-thirds of the nineteen states. The ruling of the electoral commission that he was elected because he had won 25 percent in twelve and two third states (i.e, a quarter of the vote in twelve states and two-thirds of a quarter in a thirteenth) was bitterly challenged by the UPN, but upheld by the Supreme Court. The controversy engendered lasting political enmity between NPN and UPN that was too heavily color subsequent political developments (Diamond, 1995:434). The political tension spread to engender political alliances. The formation of a government by NPN, with the backing of NPP, being third largest party, whose nominees were offered ministerial, legislative and other positions, in a way, recreated a similar alliance identical to NPC-NCNC accord of the First Republic. The NPP frustration in this alliance system was manifested in its ability to affect the policies of the federal government and claim a larger share of the spoils. One faction of the NPN was of the view that too much share of executive and legislative offices had been given to NPP in return for its legislative cooperation, while the Yoruba faction of the NPN felt unease with the Northern and Eastern alignment of political forces which they figured might perpetuate the exclusion from the presidency (Shehu et al, 1999:54). Disappointed with the lack of consultations and patronage, the NPP-NPN accord never worked as it intended, and, consequently, on July 1981, the alliance collapsed. At first, the NPP state governors joined non-NPN governors in protesting against the appointment of presidential liaison officers to the state capitals, where they could act as a focus for NPN patronage and undermine the political pre-eminence of state governors. All the non-NPN governors strongly opposed the federal governments proposal for the division of revenues between federal, state and local governments (Shehu, et al; 1999:34). Meanwhile, the informal alliance became more important for the NPN, and this also cut sharply across region and ethnicity. Many of the tacit collaborations with the NPN came from the two Igbo states and from elsewhere outside the partys far northern base. These developments raised the possibility of a historic realignment in which two political parties, one being conservatives and the other progressive, would contest for power on a national basis (Joseph, 1994:6). As Diamond notes:Despite the increasing polarization between the ruling NPN and the UPN led opposition, there was some cause for hope in the fact that this clearage was far less centered on ethnicity and region than was political conflict in the First Republic. As a result of not only expanding education and communication, but also the deep inequalities and contradictions engendered by oil boom, class and ideology were coming to play a more significant role in political conflict. This was seen to have developed in both Kano and Kaduna states where PRP party conflict centered on class and ideology. According to Diamond, three interrelated crises developed along this line in 1980 and 1981. The first was a deep split in the leadership of the PRP, not unlike that in the Action Group in 1962, stating that the stance of moderation and national political accommodation was espoused by PRP President Aminu Kano and his aides, while it was the two elected governors of Kano and Kaduna who favored confrontation and a more radical, ideological approach. The latter faction was the larger of the two, containing most of the PRPs youth support, founding intellectuals, and legislative representatives. They supported the participation of two governors in the meetings of the nine opposition governors, while the party establishment opposed it and ordered it to cease. Out of mutual expulsions, two opposing party structures emerged, each claiming to be the genuine PRP. In a controve rsial decision early in 1981, FEDECO officially recognized the Aminu Kano faction, further eroding the legitimacy of that crucial regulatory body (Diamond, 1995:435). Problems And Challenges Facing The Construction Industry Construction EssayAs documented by Ottman; the leading figures in the military junta of Buhari..were predominantly northern in origin and conservative in outlook. They were drawn from the generation who had been encouraged by northern ministers, notably Shagari himself, to join the army and make up the northern quota of recruits to the officer Corps in the 1960s. They shared training, war-time experience in the federal cause and personal friendships and had connections with their civilian counterparts in the Kaduna Mafia' (Ottman, 199:39). The Coup leaders justified the second return of the army in Nigeria politics by stating that the country needed to be redeemed from the the grave economic predicament and uncertainty that had been imposed on the country by the inept and corrupt leadership of the civilian government has imposed on the country (Diamond, 1999:440). Major General Buhari and his deputy, Brigadier Tunde Idiagbon further justified the takeover by stating that rigging of the elections by the political parties would have illegitimately ushered the ruling party- NPN- into continued corruptive civilian rulership, thereby fostering the countrys economic downturn. For those reasons, the new military government sought to impose on Nigerian society the military virtues of order, discipline and central command under the direction of the Supreme Military Council, recreating the forms of military administration of Murtala regime. They also hurriedly made a bold move to tackle the problem of corruption and to curb further waste in the government. With the sacking of more than three hundred top officials in the civil service, police and customs, including the detention of hundreds of former politicians, the former President and Vice-President, ministers and legislatures, were also imprisoned. In a further move to reform the country of its ills, they authorized the seizing of cash from the homes of leading politicians, and froze their accounts. By cutting down the amount of import and reducing the travel allowances for Nigerian travels, they argued that Nigerian foreign exchange will be preserved. The raiding and the arrest of the operators of the Black market currency was a further justification of what their plans were (Othman, et al 1999:24). These initial moves became very popular particularly among students, trade unions and other professionals. Even majority newspapers supported the new regimes mention to restore accountability to public life. But later in the early stage of Buhari, it became obvious that its intention was not implement the accountability measures. It began to act rigidly and even refused to be questioned and scrutinized by the media. And, with unprecedented harshness, arrogance, and impurity, the Buhari regime, turned on the Constituencies that had welcomed its arrival (Diamond, 1995:441). Public trust of the new military was further eroded when they announced several controversial decrees that they will use to administer the country militarily. Decree 2 enabled the government to detain people arbitrarily, to try people by military tribunals, and restricted the authority of the courts. Decree 3 provided for military tribunals to try former public officials suspected of corruption and misconduct in office. While Decree 4 limited the rights of journalists to criticize public officials (Othman, et al 1999:39). The death penalty was extended to cover a wide range of economic, violent and anti-social offenses, and public executions were introduced. With these coercive measures, the regime also was able to try politicians by giving them long prison sentences, without any chances of appeal. Both the public and Nigerian Bar Associated protested and boycotted the trials. Even though that the people were gratified to see that convictions were metted to the most corrupt politicia ns and for the acquittals of others who were innocent, but were equally concern for the permanent detention of some politicians without any charges. Worst still, was the consternation that grew among the public in the military government favoritism of the Northern NPN Kingpins who were not convicted or charged with any wrong doing. As Diamond observed, the regime came increasingly to be dreaded as the military wing of the NPN (Diamond, 1995:441). Public disenchantment grew by the regimes repressiveness and arrogance in its assault on the press (Diamond, 1995:441). Both Decree 4 and Decree 2 were used to justify the arrests. Many Nigerians journalists and editors in January 1984, which affected the news coverage and further alienated the masses and the intelligentsia. Added to the public displeasure of the regime was the Nigerian Security Organization (NSO) tactics of obstructing public assembly and forcible detention of any group leader that are found to be organizing any public even that is against the government. This action by the Government further led to the banning of prominent interest group like the Nigerian Medical Association and National Association of Nigerian students. The intensification of public disaffection was also engendered by the increasing economic hardship on the people which was exacerbated by the various austerity measures that the Buharis military government implemented. Some of these economic measures that the government introduced were in some ways effective in helping towards balancing Nigerias external payments, they came at the price of deepening recession. During 1984, an estimated 50,000 civil servants were retrenched, retired or dismissed. Tens of thousands more industrial workers also lost their jobs as factories remained desperately short of imported raw materials and spare parts (Diamond, 1999:442). The rate of inflation was up to annual rate of 40 percent due to the severe shortages of goods and so was the decline in GDP by and estimated 10 percent. The repressive strategy of Buharis military further engendered deep resentment and bitterness among the people who feel that they had been denied of their personal freedom. In addition, according to Othman, the military government was increasingly driven by dissension over strategies of economic management, the detention and trials of political detainees and the rising power of Brigadier Tunde Idiagbon, the Chief of staff, supreme headquarters, and the driving force behind the regimes authoritarian policies, and of the Nigerian Security Organization (NSO) (Othman, 1999:40). Two factors were instrumental to the final demise of the military regime; one was the risking of what Diamond called political convulsion, an attempt to impose a monolithic order on Nigerias vigorously polaristic society (Diamond, 1999:443). The second factor was the regimes declaration in July, 1985, of their intention or plan to return Nigeria to Civilian rule. These actions further isolated Buhari and Idiagbon from their military colleagues , including their arrogance in ignoring critical opinion even among its senior military ranks.

No Rainbow No Roses free essay sample

Trane does not want her family see her die, but another reason that she also doesnt want to die alone thats why she wants the writer to stay there with her. What would you do if tomorrow is the end of world? Will you do a best thing for any one? Most of people will say they will eat, sleep, play, love or shop till the end of world comes, they think for themselves before they think for others. Nowadays, peoples lifestyle are very selfish, they can do everything just get what they want, but sometimes people forget that between the busy life still exist the thing is called humanity. I have read the article from internet that the son hit his mom because she did not listen to him and did what he wanted. Or the son chased his parents out of the house because of the brothers jealousy. We will write a custom essay sample on No Rainbow No Roses or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The relationship between parents and children are very close and nothing can change or replace it. But how can some people are so betrayal their parents. Everyone has one father and one mother, and no one in the earth can love us as our parents, we should respect our parents when they are still alive. In another article that I have read, some of people who live around us still have a charity heart, they help people without reason that people love to bring happiness to unlucky people. A lot of charities are organized around the world, that make everybody know in this world there are still many humane feeling, always ready to help them whenever they need. The article help me to realize that people come to people by many ways, but if I come to people by my heart, they will do the same as I do.