...Lois Bombara Managerial Communication MAN 373, June 2010 Conflict over Job Duties Because of the rapid growth of the company in the last six months there is an increase in sales volume and this has caused both the credit office and the accounting office to be busier than normal. A conflict with the job duties of Ruth Rankin, the administrative assistance in the credit department, has not been able to help the credit office as much as she use to in the past. Ruth works for Jose Martinez, the manager of the sales department. Because the accounting department is located next door to the sales department, and is only one employee deep, Ruth helps them process journal entries that Linda Sims, the accounting department manger assigns to her. However, now with the increase in the number of credit applications, Ruth is too busy to assist the accounting department and this has caused a conflict between Linda Sims and Jose Martinez. Sims has complained to Martinez that she needs Ruth to work in accounting more now than she does, but Martinez response was very confrontational and refused to let Ruth help out anymore.1 Conflict in the workplace is common. There are five strategies to conflict management: 1) Forcing – using authority or other power that you possess to satisfy your concerns without regards for the concerns of others. 2) Accommodating – allowing the other party to satisfy...
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...0 0 1992 Pergamon Press Ltd. Case INTRODUCING ACCOUNTING - A COMPREHENSIVE CASE APPROACH SOUTHERN Marvin L. Carbon METHODIST UNIVERSITY 3. Warren Higgins UNIVERSITY OF CONNECTICUT SOUTHERN Virginia L. Lewis METHODIST UNIVERSITY Abstract: The paper presents a 4-part case study designed to be used in introducing the subject matter of financial accounting to undergraduate students, to MBAs, or to executives in a participative and intuitive fashion. Part 1 introduces the theoretical constructs of accounting (e.g., the entity, revenue recognition, valuation) and the fundamen~Is of balance sheet prepamtion, part 2 the topic of income measurement, part 3 the subject of cash flows, and part 4 the recording of tmnsactions in worksheet format. As the setting for the case is a mythical barter economy in the high mountains of ChateIe, the student is forced to put aside preconceptions of accounting as a mere set of procedural rules and to think (and rethink} choices and issues in the manner of an intellectual puzzle. The parts are solved sequentially, with common solutions agreed upon before the undertaking of the next piece. The final section of the paper presents plausible solutions. For years, accounting educators have sought a genuinely new and more effective way of introducing the subject matter of accounting. This was a significant concern of the Study Group on Introductory Accounting (1971) sponsored by the Price Waterhouse Foundation. That...
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...Nichomachean Ethics philosophy, why it is important, and how it potentially connects to accounting and business. Aristotle was born in Stagiros, Macedon, in 384 B.C. He was educated by a guardian after his father had died. At the age of seventeen his guardian sent him to the centre of intellectual and artistic life in Athens. While he was there “he entered Plato’s Academy where he stayed for about twenty years as a student and then later as a teacher” (no author, n.d, page 1, paragraph 1). After teaching for a number of years, Aristotle sailed for Assos in Asia Minor; he lived there for three years while he gained interest in biology, anatomy, and began work on his book the Politics. Aristotle was a tireless scholar, whose scientific explorations were as wide ranging as his philosophical speculations were profound; a teacher who inspired and who continues to inspire generations of students; a controversial public figure who lived a turbulent life in a turbulent world. He bestrode antiquity like an intellectual colossus. No man before him had contributed so much to learning. Aristotle offers a business ethic intent on advancing the attainment of personal happiness. He defines happiness in the universalistic terms, and insists upon the priority of exercising the virtues, of habitually acting in ways that fulfill the highest human potentialities. Therefore, according to Aristotle the philosopher man is in the quest of absolute truth. Aristotle’s Philosophy Aristotle wrote many...
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...summary of the business systems needed for effective management. Technical Team Bravo will begin with an overview of the current systems that exist in the areas of Finance and Accounting, Payroll and Human Resources, Information Technology, and Sales and Marketing. For each area covered, Technical Team Bravo will describe the business systems and subsystems used, identify who uses them, identify interrelations between business systems and subsystems, and include any noted disparities. Technical Team Bravo will conclude with a summary of suggestions for a systems plan to improve management (Smith Services Consulting Inc., 2011). Accounting Systems Riordan Manufacturing currently has six Enterprise Resource Planning (ERP) and Manufacturing Resource Planning (MRP) systems throughout four locations. These servers are accessed at the local level by 16 clients (PC’s.) The current challenge to management is the disparate systems and inconsistencies with respect to reporting capabilities and collaboration. Management needs to consolidate these systems into one Cloud-Based ERP/MRP solution that can handle real-time inventory management controls, and comprehensive, robust reporting tools. The San Jose office has an ERP and MRP system that handles inventory and supply chain management adequately as well as accounting, general ledger transactions, financial statement, payroll accounts payable and receivables, and reporting tools. This application’s license does not include source code that...
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...1) Accounting Conceptual framework provides accountants with a constitution regarding the recording and reporting of financial information. Conceptual framework comprises the theoretical structures, including various assumptions, principles or rules, companies follow when conducting operations. A common use of conceptual framework is in the corporation’s corporate governance. The Financial Accounting Standards Board defined its conceptual framework as 'a coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards'. That is not the rules but guidelines. 2) Accounting theory is an assumptions, methodologies and frameworks used in the study and application of financial principles. The study of accounting theory involves a review of both the historical foundations of accounting practices, as well as the way in which accounting practices are verified and added to the regulatory framework that governs financial statements and financial reporting. 3) The historical side of accounting practices: Historically, the first form of accounting practices was bookkeeping. Bookkeeping resulted from a need of ancient traders in Chaldean, Babylonian, Akkadian, and Assyrian civilizations. Those ancient traders developed advanced trading practices to track their costs and incomes. This of course, led to record keeping as the best. Belkaoui states that the earliest known form of record keeping dates back to 3000 B.C. which was found in Old Irak...
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...Riordan Manufacturing is a global plastics manufacturer with about 550 employees. Riordan Manufacturing is owned by Riordan Industries, a fortune 1000 company based in California with more than 1 billion in revenues. Chemistry professor Dr. Riordan founded the company in 1991 and it has grown to a global organization with locations in Michigan, Georgia, and China. Riordan Manufacturing placed a service request for all locations to review existing software applications. All areas within the organization are using various business systems of which each represent challenges. The organization needs us to identify problem areas and create solutions. The current software applications differ at each location creating compatibility issues. The Michigan plant's application system developer is no longer in business leaving no access to updates or troubleshooting. San Jose accounting application contains no source code eliminating the ability to modify the program. The F&A department's data is provided from data files. Some data is in hard copy and must be re-entered. Other data files must be converted to the corresponding account codes. Turnaround time on Income Statements and Balance sheets is too long based on the man hours required to complete the task; resulting in laborious monthly audits. Sales and Marketing plans to consolidate customer information using a CRM system. Using Historical Sales, Past Marketing Plans and Research, and Sales Databases to create a cohesive flow of...
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... Ian Curry –Team Lead Ian Co Abdesslem El-Bech Shaquana Gates Sanguanchue Tanyawat February 22, 2015 Table of Contents Table of Content……………………………………………………………………….. 2 Executive Summary…………………………………………………………………… 3 Company Overview……………………………………………………………………. 4 Financial Data………………………………………………………………………… 6 Financial Data Table, Figure 1……………………………………………………. 6 Problem Definition…………………………………………………………………….. 7 Literature Review……………………………………………………………………… 9 Recommendations…..…………………………………………………………………. 10 Solution………………………………………………………………………………… 12 The three-tier client/server architecture of SAP, Figure 2………………………… 12 Cost…………………………………………………………………………………….. 13 Schedule-Project Planning……………………………………………………………. 13 Project Planning, Figure 3………………………………………………………… 14 Implementation………………………………………………………………………... 14 Database………………………………………………………………………………. 14 SD Module table mapping, Figure 4………………………………………………. 15 SD Module – Sales tables, Figure 5……………………………………………….. 16 SD Module – Shipping tables, Figure 6…………………………………………… 17 SD Module – Billing tables, Figure 7……………………………………………… 18...
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...FIRST SEMESTER Course : 1: Principles of Management Introduction: - Concept of Management, Scope, Functions and Principles of Management, Evolution of Management thought. 2. Planning: - The Process of Planning, Objectives, Policy and Procedures, Forecasting and Decision Making. 3. Organizing: - Meaning, Importance and Principles, Span of Management, Centralization and Decentralization, Patterns of Organization, Line and Staff Relationships. 4. Staffing: - Nature & Scope of Staffing, Manpower Planning, Selection & Training, Performance Appraisal. 5. Controlling: - Concept or Managerial Control, Control aids, Score Responsibilities of Managers. Books Recommended: by Paul Hersey & Ken Blanchard 1. Management & Organizations Behaviour 2. Essentials of Management by Koontz & O Donald 3. Principal and Practice of Management by L.M. Prasad 4. Human Behavior at Work by Kaith Devis 5. Organizational Behavior by Robbins 1. Course : 2: Business Organization Introduction: - Nature & Scope of Business System, Objectives of Business and Social Responsibilities of Business 2. Organizing a Business: - Forms of Ownership Organization Sole Proprietor, Partnership, Private & Public Ltd. Companies, Choice of suitable form of Business Organization. Public Sector: - Central Government, Public Corporation, Local Government, Organization 3. neither Public nor Private Sector, Clubs & Society, Cooperative Societies, Worker s Cooperatives, Building Societies. 4. Elements of Insurance: - Meaning and...
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...Medical Store Management System Table of Contents Table of Contents 1.1 Purpose 2 1.2 Product Overview. 2 1.3 References 3 2 .User Description 3 2.1 User/Market Demographics: 3 2.2 User Profiles 4 2.3 User Environment 4 2.4. Key User Needs: 5 2.5. Alternatives and Competitors: 5 3.2 General features 6 Modules Names and Use case Description 11 Initial Records 11 Transaction 12 Screen Shots of the Software. 14 Create company 15 Purchase 16 Sale 17 Counter sale 18 Damage stock 19 Privilege settings 20 Profit and loss analysis 21 Balance Sheet 22 Product availability search 22 8.1: User Manual 23 8.2: Online help. 23 8.3. Installation Guides, Configuration, and Read Me Files 23 1.Introduction Medical Store management software is general software developed for medical store. This software Help them to do billing and stock maintain ace. It also provides them with the facility of keeping a track of customer and of the stock , keeping the records of the companies and the stock available, the expiry of the medicines and the no of workers working in the medical store. This system help the owner of the medical store to manage various aspects about the store together , paper work is reduced , inventory details of all medicines are store to reduced keeping check on a day to day basis. 1.1 Purpose The purpose of this software is to specify requirements and to give guidelines for the development of above side project...
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...Market Solutions to the Agency Problem in Periodic Financial Reporting Edgar Carlos Duarte Aguilar “The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be as dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.” Adam Smith Introduction Enron’s bankruptcy in 2001 was a milestone in recent times as far as corporate governance regulations it is concerned. Besides the executives, the external auditors were accused and found guilty as accomplices in distorting the accounting information the Securities and Exchange Commission (SEC) required from them as a public company that traded its securities in the New York Stock Exchange (NYSE). US Government’s reaction was to increase the regulation on the activities performed by all public companies by issuing the Sarbanes-Oxley Act (SOA) and creating the Public Company Accounting Oversight Board (PCAOB). It was now required that the Chief Financial Officer (CFO) of each company signed a statement on the effectiveness of the Company’s internal control and that the external auditors issued a report on this management’s statement, besides their previously required report on the fair presentation of its financial statements....
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...21th May 2012 You have been assigned as a leader of a cross functional team of internal consultants to your CEO and the Board for your company. Your company is faced with dwindling profit and constant chaos due to: 1. Intense competition from local competitors 2. New entrants from China/Vietnam with very low prices 3. Increasing inventory of great products which used to be fast moving 4. Lack of coordination with supply chain decisions and customer demand from CRM 5. Customers of least profit getting maximum attention and more profitable customers defecting 6. Sales Force placing unreasonable demands coupled with production interruption 7. Lack of integrated and coordinated planning and control 8. Cost based pricing creating havoc in the profits 9. Escalating support costs and huge growth in indirect costs and 10. Lack of motivation , poor performance on the part of senior management and attrition Required: Q-I) Write a report to strategically fix all these problems with clear execution and implementation steps so that the organization is managed effectively and efficiently for excellence and regains profitability and high morale. You may also use all or most of the topics discussed and the 10 key takeaways. Solution: Leader of a cross functional team: A cross functional team is a team composed of more than three members from diverse functional entities working together towards a common goal. This team will have members with different...
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...Sabrina Msc BC & IS Management 1 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Acknowledgements It is not an easy task going back to school after seven years of work experience. And it is much harder going back to school being a young mum. For this reason, my deepest gratitude goes to my family who has always supported me and helped me in this initiative. Especially, I would like to thank my parents who always believed in me, my husband who encourages me and over all, my son, whose love gave me all necessary energy and strength. I would also like take the opportunity to thank all the teachers from the MSc, especially Ms. Hirzmann who encourages me in my professional choices and future carrier and my professor Mr. Parmantier who helped me complete this dissertation. F inally, I would like to express my gratitude to Mrs. Jalabert, SBM MONACO Finance Director for her time spent answering my questionnaire. 2 MSC IS&BCFinancial SYSTEMS FUTURE Challenges in growing complex environment DISS Glossary BI: Business Intelligence BSC: Balanced Scorecard CFO: Chief Financial Officer CPI: Cost Performance Indicator CPM: Corporate Performance Management CR: Corporate Reporting CRM: Customer Relationship Management EPM: Enterprise Performance Management ERP: Enterprise Resource Planning FASB: Financial Accounting Standard Boards IASB: International Accounting Standard Board IFRS: International...
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...2008 Betty W. Steadman 135 IMPLEMENTING THE ACTIVITY BASE COSTING SYSTEM: A CASE STUDY ON DAKOTA OFFICE SUPPLY By Betty W. Steadman Overview Activity Based Costing (ABC) is an accounting method that allows an organization to determine actual costs associated with each product and/or service produced by the organization without regard to the organizational structure or other extraneous function. For Dakota Office Products (DOP), its existing costing system was inadequate because it is incapable of accounting for even all of the known costs such as the desktop delivery service as well as hidden costs such as the 10% DOP paid to maintain its working capital line of credit for accounts receivable (Kaplan, 2003, p.4). Since ABC is a powerful tool for measuring performance, identifying, describing, and assigning costs to, and reporting on an organization’s operations it could solve much of DOP’s critical cost oversights (Caplan, Melumad & Ziv, 2005). Used holistically ABC can be utilized to also improve processes and identify opportunities to improve business effectiveness and efficiency by determining the true or real costs of a given product or service. ABC principles are used to focus management’s attention on the total cost to produce a product or service, and as a basis for full cost recovery of a production or service process. Situational Analysis DOP is a regional office supply company with a strong reputation for customer service and quality supplies. Additionally...
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...Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.5, No.4, 2014 www.iiste.org Development of Accounting Theory Based on Islamic Teachings: A Glance over Principle of Al-Adl and Al-Ihsan Shaukat Amer1* Sofri Bin Yahya2 1- COMSATS Institute of Information Technology, Kamra Road, Attock, Pakistan. 2- Dean, Graduate School of Business, Universiti Sains Malaysia, Malaysia *E-mail of the corresponding author: shaukat_amer@comsats.edu.pk Abstract The beauty of accounting based on Islamic principles is that it not only deals with the valuation but also deals with an inbuilt accountability mechanism. Generally the accounting should be able to perform roles like keeping safe custody of interests, certifying true and fair view of business, enabling accountability and providing reliable information for successful decision making to all the stakeholders. In this context there are three main issues with respect to present system of setting accounting standards. These are undue pressures of certain groups in setting these standards, no role of owners in setting these standards, and flexibility/discretion in applying these standards which may lead to subjectivity. These may results in incorrect valuation of business transactions, increasing management discretion which in return will increase corporate governance issues including incorrect financial reporting, earning management and limiting decision making ability of the stakeholders. In order to...
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...BUSINESS & WORLDVIEW Kahlib J. Fischer, PhD © 2011 We understand that not all of our students are practicing Christians and who therefore may be uncomfortable providing a Biblical perspective in their assignments. On the other hand, most of our students are in fact practicing Christians, who may not have a fully developed Biblical worldview when it comes to understanding business concepts. We therefore hope that this document will achieve two goals: 1) Help students better understand the relevance and indeed the preeminence of Scripture and Jesus Christ as Lord and Savior in the realm of business; and 2) Provide useful and understandable points of application for leadership and business behavior, including the primary and secondary functions of business. INTRODUCTION There are certain intellectual and philosophical criteria that can be used to test any worldview, and we want our students to understand how and why the Christian worldview uniquely meets those criterion and therefore passes the worldview “test” in the following ways: • A worldview is the intellectual, emotional, and perhaps even spiritual framework by which we apprehend reality and assign meaning to life. Everyone has a worldview; it may not be very developed, but nevertheless, everyone is approaching life based upon one. We believe that a worldview based upon Biblical truth is the most logically sound and meaningful approach to understanding and living life. CHRISTIANITY AND THE WORLDVIEW TEST • ...
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