...Asian Journal of Finance & Accounting ISSN 1946-052X 2012, Vol. 4, No. 1 The Impact of Accounting Information System in Planning, Controlling and Decision-Making Processes in Jodhpur Hotels Dr. Omar A.A. Jawabreh Tourism and Hotels Sciences Department, Al Balqa Applied University, Jordan, Aqaba E-mail: www.ojawabreh2000@yahoo.com Ali Mahmoud Abdallah Alrabei Research scholar, Dept of Accounting, J.N.V.U E-mail: alialrabei@yahoo.com Received: February 23, 2012 doi:10.5296/ajfa.v4i1.1435 Accepted: March 25, 2012 Published: June 1, 2012 URL: http://dx.doi.org/10.5296/ajfa.v4i1.1435 Abstract The study aims to identify the reality of accounting information systems in four and five-star hotels in terms of planning, controlling and decision making. The descriptive analytical method has been used through data collection by means of a questionnaire distributed to various hotel accountants. After the statistical analysis of the questionnaire, appeared several key findings most important of which are that hotels in Jodhpur didn't use the methods of accounting information system in planning, control and decision making processes. The study finding respectively that all grouped items have a mean of (1.77, and 0.00), (1.85 and 0.00), (1.98 and 0.00) level of significance (p-value), which means that these hypothesizes is rejected. Because there is no relationship between accounting information system and planning, controlling, and decision-making in four and five star Jodhpur...
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...THE USE OF ACCOUNTING INFORMATION AND DECISION-MAKING IN ORGANISATION (A CASE STUDY OF MUXOL PAINT DEPORT, BENIN CITY) BY DAVID UYIGUE UNAD/ACC5/2007/371 A PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF MANAGEMENT SCIENCE, UNIVERSITY OF ADO-EKITI, NIGERIA. IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.sc) DEGREE (HONS.) IN ACCOUNTING FEBRUARY, 2014 CERTIFICATION This is to certify that this project work was written by DAVID UYIGUE of Department of Accounting, Faculty of Management Sciences, University of Ado – Ekiti State, under my supervision. ------------------------------ ------------------------------ DR KEMI OGUNDANA DATE (Project Supervisor) ----------------------------- ------------------------------ DR. OGUNDELE J.F. DATE (Degree Coordinator) DEDICATION This project work is dedicated to God Almighty, through His only begotten son, Jesus Christ for His Faithfulness and mercy. This project is also dedicated to the family of Mrs. Veronica Uyigue for their financial support. ACKNOWLEDGEMENTS First and foremost, I will like to acknowledge and appreciate Almighty God who saw me through my course of study and granted me the grace to complete this project work. through His only begotten son, Jesus Christ and His Faithfulness and mercy. My profound gratitude goes to my able project supervisor Dr...
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...CHAPTER 1 DECISION MAKING AND THE ROLE OF ACCOUNTING TEXT REFERENCE: Hoggett, J.R., Edwards, L., & Medlin, J., Accounting in Australia, Fifth Edition, Chapter 1. OBJECTIVES: When you have studied this chapter, you should be able to: 1. understand the nature of decisions and the decision-making process. 2. appreciate the wide range of economic decisions made in the marketplace. 3. explain the nature of accounting and its main functions. 4. identify the potential users of accounting information. 5. use information to make simple economic decisions. 6. understand the role of accounting information in the decision-making process. 7. understand the differences between accounting for management and accounting for external users. 8. understand how the accounting profession is organised in Australia. 9. identify the different areas of the economy in which accountants work. 10. understand the importance of ethics in business and accounting and how to recognise and handle ethical dilemmas as part of the decision-making process. 1 Chapter 1 STUDY TIPS FOR CHAPTER 1 1. This is an important chapter because it lays the foundation for all topics that will follow. 2. Make sure that you understand each new term as it is introduced. 3. Pay particular attention to the significance of accounting information for decisionmaking processes. 4. Identify the types of activities that are carried out...
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...Management Accounting To Count or Not to Count Principles of Accounting II ACC 206 Management accounting and those whole wear the title of Management Accountant play an extremely significant role in the success of any business, large or small. The growth, progression and future worth of a business relies solely on its financial status and the decisions made in direct correlation to that status. These decisions vary throughout the professional world however, they are vital in every arena. Though managerial accounting and financial accounting differ one from another, one cannot exist without the information of the other. Are management accountants simply “bean counters” whose sole purpose or job description is to decide which bean will actually sprout, take root, regenerate and result in a profitable return? How is the decision of what information should be considered made? How important is management accounting? How vital is the information provided by management accountants? To count or not to count, that is the real question. Management Management is defined as directors and managers who have the power and responsibility to make decisions to manage an enterprise. It is comprised of the interlocking functions of formulating policies set by corporations and the organization, planning, controlling, and directing the firm’s resources to achieve the objectives of the policy. The size of a firm’s management can vary from one person to hundreds or thousands of managers...
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...anaCHAPTER 1 DECISION MAKING AND THE ROLE OF ACCOUNTING TEXT REFERENCE: Hoggett, J.R., Edwards, L., & Medlin, J., Accounting in Australia, Fifth Edition, Chapter 1. OBJECTIVES: When you have studied this chapter, you should be able to: 1. understand the nature of decisions and the decision-making process. 2. appreciate the wide range of economic decisions made in the marketplace. 3. explain the nature of accounting and its main functions. 4. identify the potential users of accounting information. 5. use information to make simple economic decisions. 6. understand the role of accounting information in the decision-making process. 7. understand the differences between accounting for management and accounting for external users. 8. understand how the accounting profession is organised in Australia. 9. identify the different areas of the economy in which accountants work. 10. understand the importance of ethics in business and accounting and how to recognise and handle ethical dilemmas as part of the decision-making process. 1 Chapter 1 STUDY TIPS FOR CHAPTER 1 1. This is an important chapter because it lays the foundation for all topics that will follow. 2. Make sure that you understand each new term as it is introduced. 3. Pay particular attention to the significance of accounting information for decisionmaking processes. 4. Identify the types of activities that are carried...
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...UNIVERSITY OF JOS FACULTY OF MANAGEMENT SCIENCES DEPARTMENT OF ACCOUNTING MASTERS IN ACCOUNTING AND FINANCE (M.Sc) ACC 512 – ADVANCED MANAGEMENT ACCOUNTING “ENVIRONMENTAL MANAGEMENT ACCOUNTING AS A STRATEGY FOR CORPORATE SUVIVIAL” PRESENTED TO THE COURSE LECTURER – PASTOR j a OLOREDE BY; OLUMIDE ABISOYE OLOWOKURE PGSS/UJ/00083/10 Introduction Environmental accounting is a broader term that relates to the provision of information on environmental-performance to different stakeholders both within, and outside, an organization. The United States Environment Protection Agency (US EPA) sees the main function of environmental accounting as that of bringing environmental costs to the attention of corporate stakeholders who may be able and motivated to identify ways of reducing or avoiding those costs while at the same time improving environmental quality. Environmental accounting has three major aspects. 1. National Income accounting, which addresses the environmental accounting need of the nation and it’s external in nature. It is basically the micro economic measure which may use for instance physical or monetary units to refer to the consumption of the nation’s natural resources. 2. Financial accounting which addresses the environmental accounting needs of the firm this is also external in nature. This may simply be the estimation and public reporting of environmental liabilities and financial material environmental...
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...Management Accounting April 10, 2013 Management Accounting Nepalese Perspective Management accounting is the method of measuring the performance of the organization through both quantitative and non-quantitative approach. Financial accounting and cost accounting both give the quantitative measures based upon which decisions are made but it will not be correct to make decisions based solely upon numbers thus only considering financial terms is considered the old method of decision making in management. Decisions made at both the operational level or management level are not always the outcome of financial numbers. Most of the decisions have other factors which make greater impact than the numbers given by the financial accounting. At present the tendency to measure performance on the overall basis rather than just looking at the size of the profit made by the company has tremendously increased the importance of management accounting worldwide including Nepal. The concept of cash flow management and profitability are central to both financial accounting and management accounting. The financial constrains of any organization defines its objectives and its future course, the impact of which needs to be considered by the managers for decision making in steps. Nepalese Perspective Cash Flow Management The most important function for any manager is to maintain the cash flow of the organization. The main cause of business failure in Nepal like elsewhere is not the unprofitability rather...
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...Managerial Accounting 12/3/15 Managerial Accounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. Every business wants to make a profit; accounting is an important part in helping understand how profits and expense amounts are derived. One form of accounting I will focus on is managerial accounting or also known as management accounting. Managerial accounting is the process of identifying, analyzing, recording and presenting financial information that is used for internally by the management for planning, decision making, and control. Managerial accounting provides economic and financial information for managers and other internal users (Managerial, 2005). When you tell people about managerial accounting, the first thing they ask is “What’s the difference between managerial and financial accounting?” There are both similarities and differences between managerial and financial accounting. The major similarity each field shares, is that they both deal with the economic events of a business. As an example, determining the unit cost of manufacturing a product is part of managerial accounting. Reporting...
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...ACCOUNTING INFORMATION AND MANAGEMENT DECISION MAKING IN NIGERIAN BREWERIES PLC 9TH MILE CONER NGWO PROPOSAL This research work was designed to studding the accounting information impact on management decision making, identifying and exploring possible techniques applicable and based on the findings, make recommendations for clarifying the impact of accounting information on management decision. The data for this study were collected through structured questionnaire. Thereafter, the data collected were analysed, using nearson’s method which served to put qualitative characteristics in the data in numerical form and relationships. The four hypotheses formulated in order to carry out the research were empirically tested, by employing the t-test representation of table. FINDINGS The accounting system of any firm provides great information that help her management to make decision with respect to:- - Application of accounting information in policy making. - Measurement of performance level - Resources allocation - Other special factors affecting accounting information. CONCLUSION This research is for the purpose of accounting system to collect and communicate financial information in such a way as to assist managers and others in their endeavour. Therefore, the objective of the accounting information system is to permit managers to make optimal decisions this is to make the best allocation of the resources which they control. Two important...
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...Introduction to Management Accounting There are many definitions of what management accounting is and its role in an organisation and society. For example the American Accounting Association describes accounting as: “the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.” (Drury, 2008) Whereas in Management Accounting by a team of practising lecturers, it is defined as: “it involves producing and interpreting accounting and statistical information in order to assist management in its function of maximising efficiency and achieving corporate goals.” However this is not the main focus of the definition given in this book as they begin the definition explaining that: “management accounting is the application of accounting techniques to the provision of information designed to assist all levels of management in planning and controlling the activities of the firm and in decision making.” These definitions are similar suggesting decision making, planning, control and also performance evaluation are four fundamental management functions which management accounting provides information for. Decision making is central to the management of an enterprise. (Weetman, 1996) The manager of a profit-making business has to decide how he or she will implement the objectives of the business, at least one of these objectives will relate to allocating resources to maximise profit. To be economic, efficient...
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...measuring the full spectrum of environmental costs of current production processes and the economic benefits of pollution prevention or cleaner processes, and to integrate these costs and benefits into day-to-day business decision-making. For the last decade, environmental accounting has gained increased importance in practice, of which cost accounting receives most attention. This paper gives an overview of the approaches of environmental cost accounting. Key Words: Environmental costing, Environmental costs, Environmental accounting Introduction In recent years, Environmental Costing has been attracting increasing attention throughout the world. There are various definitions of environmental costing, but essentially, an environmental costing system can be thought of as a management accounting system that has been refined so as to enable users of the system to be provided with information that reflects the environmental performance of the organisation. The United Nations Division for Sustainable Development has referred to environmental costing simply as “doing better, more comprehensive management accounting, while wearing an environmental hat that opens the eyes for hidden costs”. The information generated from an environmental management accounting system might be of a financial nature (for example, the quantification of environmental costs), or it might be provided in physical terms (such as the amount of electricity used within a particular process). Either way,...
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...Rizqy Pambudi 13311293 The Rule Accounting information in decision making Introduction In this day organization on business activity always face the problem including internal and external problem. Decision making be required for face the problem and make the organization get higher profit than before. One of the factors to support the decision making is the need for an adequate information system so that if there occurs an error in the company's policy, managers can make decisions quickly to address these issues. to obtain adequate information we need accounting information. Accounting information is a systematic connective issue in the presentation of useful information and can power to help leaders companies in an effort to achieve organizational goals that have been set previously. If accounting information connected with object information like product and companies activity it will generate accurate accounting information, It will help manager make right decision and useful for organizational behavior and human behavior in organization. Decision making divided into two, long-term decision and short-term decision. Long-term decision was made by manager can useful for one year or more. Example for long term decision are buy or rent a machine, buy machine with cash or credit, etc. short-term decision was made by manager, when that decision was made will directly affect for organizational or employees. Examples of short term decision are what products should the business...
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...FINANCE AND ACCOUNTING DECISION MAKING AND THE ROLE OF MANAGEMENT ACCOUNTING FUNCTION – A REVIEW OF EMPIRICAL LITERATURE Fitsum Kidane (Phd. Research scholar), Lecturer in Accounting and Finance College of Business and Economics Mekelle University Mekelle, Ethiopia Abstract This study examines decision making and the role of management accounting function in a business organization. Using the review of literature, I identify management accountants perform a wide variety of tasks. Only a part of management accounting activity is directed at performance improvement. Some of the activities they perform are related to the statutory reporting requirements of the organization. Some of these are related to the operational requirements of the finance function itself such as processing transactions receiving money and paying bills. Literature foresees new management accounting techniques and changes in organizational and business environments having a huge impact on management accountants’ roles, yet empirical evidence on fundamental shifts in these roles remains relatively scarce. Journal of Radix International Educational and Research Consortium www.rierc.org RIJBFA KEYWORDS Volume 1, Issue 4(April 2012) ISSN: 2277 – 100X Decision making, management accountant, management accounting INTRODUCTION Accounting can be defined as "the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of...
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...| |[pic] | | | | Fig 7: Typical simple organization chart. Many enterprises use a database warehousing approach for the creation of accounting information systems. This approach, coupled with user-friendly software, allows management and other designated employees access to information to create a variety of accounting reports, including required external financial reports. For example, detailed cost information about a production process is used by the production line supervisor to help control production costs. A process design engineer, when considering the best configuration of equipment and employees, uses the same information to reduce costs or to increase efficiency. Finally, production-related cost information appears in the external financial statements used by investors and creditors. OBJECTIVES OF MANAGEMENT ACCOUNTING INFORMATION |Each enterprise has implicit and explicit goals and objectives. Many enterprises have mission statement that describes their | | |goals. These goals can vary widely among enterprises ranging from nonprofit organizations, where goals are aimed at serving | | |specified constituents, to for profit organizations, where goals are directed toward maximizing the owners’ objectives. For | | |example, the American Cancer Society, a nonprofit organization, has the following mission: | | The American Cancer Society is the nationwide community-based voluntary health organization dedicated to eliminating cancer as a major health problem...
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...V.G. Narayanan. "Accounting Standards and the Globalisation of Indian Businesses." The Chartered Accountant (July 2005): 50-52. Narayanan, V.G., Ananth Raman, and J. Singh. "Agency Costs in a Supply Chain with Demand Uncertainty and Price Competition." Management Science 51, no. 1 (January 2005). Narayanan, V.G., and Ananth Raman. "Aligning Incentives in Supply Chains." Harvard Business Review 82, no. 11 (November 2004). Kraiselburd, Santiago, V.G. Narayanan, and Ananth Raman. "Contracting in a Supply Chain with Stochastic Demand and Substitute Products." Production and Operations Management Journal 13, no. 1 (spring 2004). Narayanan, V.G. "Activity Based Pricing in a Monopoly." Journal of Accounting Research 41, no. 3 (June 2003): 473:502. Narayanan, V.G., and Lisa Brem. "Case Study: Customer Profitability and Customer Relationship Management at RBC Financial Group." Journal of Interactive Marketing 16, no. 3 (summer 2002): 76-98. Narayanan, V.G., and Steven Huddart. "An Empirical Investigation of Tax Factors and Mutual Funds' Stock Sales Decisions." Review of Accounting Studies 7, nos. 2-3 (June-September 2002): 319-341. Narayanan, V.G., and Ratna G. Sarkar. "The Impact of Activity-Based Costing on Managerial Decisions at Insteel Industries - A Field Study." Journal of Economics & Management Strategy 11, no. 2 (summer 2001). Kaplan, Robert S., and V.G. Narayanan. "Measuring and Managing Customer Profitability." Journal of Cost Management (September/October...
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