The use of managerial accounting in any industry Essay

The use of managerial accounting in any industry - Essay Example This accounting branch embraces accounting systems, methods, and techniques that can help the organization maximize its profits or minimize losses. Scholars opine that management accounting is the presentation of accounting information in a way that would assist the top management to create potential policies for managing its daily operations. Management accounting is not confined to financial management information, but it is about comprehensive information about overall organizational activities. It is evident that financial management alone is not capable of providing necessary information for performing managerial functions effectively. In contrast, management accounting is able to provide key information about cost, profits, and factors which are useful for the management to discharge their functions effectively. Management accounting can be considered as an extension of the management aspects of the cost accounting, and it is based on the principles of both cost accounting and financial accounting. It seems that management accounting is relevant to fast growing sectors like automotive industry because those sectors need an uninterrupted flow of various information to ensure improved value chain efficiency. This paper will explore the uses of managerial accounting tools in the automotive industry with particular reference given to management accounting practices in Toyota Motor Corporation. ... ute of Management Accountants (IMA), â€Å"management accounting is 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 organization’ strategy† (â€Å"definition of..†). The management accounting information is different from financial accounting information in several aspects. The management accounting information is basically forward-looking whereas financial accounting information is primarily historical. In addition, managerial accounting information is model based and is particularly intended to support decision making. This type of information is generally intended for the use by business managers but not by stockholders, creditors, or the general public. Therefore, managerial accounting information is highly confidential in nature. According to the American Institu te of Certified Public Accountants, the practice of management accounting is spread to other three areas such as strategic management, performance management, and risk management. Strategic management is about promoting the management accountant’s role as a strategic partner in the organization whereas performance management deals with improving the performance efficiency of the organization constantly. The risk management is vital to identify and manage risks that constitute a potential obstacle to the achievement of the organization’s long term objectives. A management accountant uses his professional knowledge, experience, and expertise to assist the company management to frame strategic policies and to improve operational efficiency and thereby promote value creation. Therefore, management accountants

Journal of Korean Melodrama Christmas in August (1998) Movie Review

Journal of Korean Melodrama Christmas in August (1998) - Movie Review Example Jung decides and tries his best not to get into a relationship with her but eventually they form one. The film tends to have a weak plot but there is a strong in-depth look at both the characters that the audience can implicitly feel. The audience see and feel how Jung experiences the illness and how he deals with the people during the last days of his life. There is a silence among the members of his family because they are the only ones aware of it. Jung also holds back his emotions when he is with his friends and that is a painful moment. The relationship with Da-rim and Jung is the central focus of this story. Da-rim affects him deeply and how he responds to her is a beautiful feeling in the film. People often take others for granted but Jung’s character gives an emotional sensation to the audience on how painful it is when you know you don’t have time. In addition, the interesting thing about this film is that there are not many dialogues throughout the film. This is a strong point but it may as well start seeming to be a negative point as it drags the movie in some scenes. But this technique works for the emotional audience as the awkward and meaningful silences bring out the feel between the characters even in scenes when Jung is working alone and there is silence which expresses his isolation, pain, and loneliness. There is another major element in this film which is the subtleness. The audience get a sense that Jung and Da-rim have fallen in love but the film doesn’t really show a formal acceptance or declaration of their love. Jung would never talk about his illness but it is evident how it is affecting his relationship. The film does not even disclose the actual illness that Jung is going through and thus the movie is subtly explained through the actions and expressions of the characters that have done a great job on screen. This fact may leave the film open to several interpretations; it would also make this film thought

Speech Essay Example | Topics and Well Written Essays - 1000 words

Speech - Essay Example The freedom is necessary, but we do not like the freedom, which cause unnecessary change in the society. â€Å"Hate speech is against the law, communication that classifies a person or a group on the basis of color, disability, ethnicity, gender, nationality, race, religion, sexual orientation, or other characteristic is regarded as hate speech.† (http://en.wikipedia.org/wiki/Hate_speech) Hate speech occur in all of countries but in different ways. There are hate speeches against religion, homosexuality, and racialism. The speech should be respectful of other people’s religion. When necessary, criticism should be polite. Hate speech cause a lot of problem between people, countries, and religion. If anyone espouses Christianity, Islam religion or any other religion, we should respect his/her opinion. If someone chooses to be a Muslim, someone will tell him that all Muslim kill other people or Muslims are barbarian and terrorist. That is wrong since not all Muslim kill ot her people, but the question is (Why the people kill others?). There are various causes of hate speech. For example, â€Å"Following the end of world war II, 24 German leaders were brought before the international Military Tribunal at Nuremberg.† (https://www.google.com/search?q=what+is+hate+speech%3Fpdf&ie=utf-8&oe=utf8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a). Two of the leaders were linked to incitement and distribution of the Nazi propaganda. This is kind of Hate of speech and it caused deaths of many people in the world. In the same way, the racialism was huge problem in United State. The Black people lived miserable lives due to hate speech. They were lived with people who hated them and they did many kind of the callousness. In addition, they were not getting their rights, in other words they were enslaved. They had to demonstrate against the government to get their freedom. â€Å"Pornography is material designed to arouse and has no legal or consistent d efinition.† http://www.ffeusa.org/html/statements/statements_pornography.html Pornography most of time is dangerous for the societies. The commercials do not care about pornography and its effects. They care about their money and the ways to get more money. Sometimes, they show pictures and films have contempt for women. Moreover, men learn violence and force women to do sex as shows depict. â€Å"What is obscenity? It is not synonymous with pornography, as most pornography is not legally obscene. Most pornography is protected by the First Amendment.† (Freedom of speech and press, Henry Cohen consequently, people should have freedom of speech and opinion, but their opinion should be reasonable. â€Å"Freedom of speech is the political right to communicate one's opinions and ideas via speech.† (http://en.wikipedia.org/wiki/Freedom_of_speech). People’s opinion is significant for the government and for the other people. We cannot develop our country if we do not listen to people's opinion without interference. They can say idea through any media whether by write, TV, or radio. Most of great countries have freedom speech. The government and people listen for their voice, what they need, what they criticize and reasons for their criticism. If any person or government said this is our country we should not criticize them since, they too are citizens. The country belongs to all people and, not an individual’s property. Everyone has the right to say his opinion and idea to develop his country and

Sterling Harwoods Objections to Utilitarianism Essay

Sterling Harwoods Objections to Utilitarianism - Essay Example According to this objection, utilitarianism demands too much from human beings when argued from a real life situation. Harwood’s objects the utilitarianism opinion, which demands individuals to save the life of five strangers rather than that of their loved ones. This implies that people should give up nearly everything to assist those in need. For instance, one person should sacrifice his or her life for the sake of three or more people to survive. The person will make more people happy at the expense of his or her happiness; this may be applicable to cases of healthiness or wealth. Utilitarianism maintains that a person ought to act in a manner that increases universal happiness even though the action does not make him happy. This action reveals how unrealistic the demands of utilitarianism are towards human nature. For utilitarianism, sacrificing a single person to save many is justifiable because it is ambitious of figures. Utilitarianism seems to coincide with religion, l ike utilitarianism, religion asks people to sacrifice their lives for the sake of their friends benefit. However, Harwood objects these demands by saying that it is impossible to detach an individual’s life for the sake of others, this discredits utilitarianism viewpoint (McElwee 457). According to Harwood, utilitarianism is unfair and it is the truth. Justice cannot be compared with cheerfulness or contentment in the world. Actually, actions of justice may probably result in resentment, disputes, as well as hostility amongst communities. For instance, if the marginal people in a community are greatly singled out, and they happen to be satisfied with it due to the many benefits it brings them, then that is good according to utilitarianism. Therefore, no protests should be made because they will lead to chaos among the majority and the marginal. Likewise, utilitarianism is concerned with numbers; therefore, the utmost contentment is when the highest numeral of people is satisf ied. This indicates that the decisions to be made are usually unfair and do not do justice to those who are justifiable; for example, a scientist who kills his son prior to finding the cure out the cure for cancer. Utilitarianism will permit the scientist to carry on with the discovery of the cure before he is jailed. This is because if he finds the cure for the illness, the life of several patients will be achieved (McElwee 461). On

MEMO FORMAT - Marketing - Management. Proposal Essay

MEMO FORMAT - Marketing - Management. Proposal - Essay Example Some of the other desirable features of the Fiat 500 are its highly recommended sporting ability ("2012 fiat 500 consumer reviews," 2012). Older models of the same make have broken world speed records on racing heritage. The car is relatively cheap and is characterized by a one-point four-litre turbo engine. The car is among the smallest in the US and fits very well in crowded cities. Additionally, the 2012 fiat 500 comes with interior furnishing and adequate front space to give the driver a lot of room. Statistics collected by researchers in the US have verified that since its launch, sales have registered an upward trend. This started with 3,227 in the first month. Vehicle dealers have embarked on informative campaigns to create awareness. Fiat motors will have to come up with a strategy better than other motor firms if it is to impact the American market. The market strategy adopted must be backed up by an effective corporate strategy dedicated towards meeting the shareholders’ investment objectives. The strategy to be adopted ought to compete effectively with other motor models already in the market. This memorandum recommends that congruent with the specific strategic business intentions and the desire to make an immediate impact in the American market, that a commercial for the 2012 Fiat 500 be placed in the Super Bowl. It is recognized that the cost of a 30 second slot in the 2011 Super Bowl was $3,000,000 (Damiano 2012). With such a steep price tag it is recognized that the commercial must make a significant impact. Last year’s Super Bowl commercial involved a nerdy man approached by a gorgeous woman only to discover he was actually looking at a Fiat. For next year’s advertisement it is recommended that an external advertising agency be contracted. While the specific creative angle will be their domain, it is recommended that a narrative be built from the past

Accounting Assignment Example | Topics and Well Written Essays - 1250 words - 3

Accounting - Assignment Example Prepare the entries on Pierson Co.s books related to the transactions that occurred on January 10, February 12, and March 10. If Allowance for Doubtful Accounts has a credit balance of $2,100 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1% of net sales, and (2) 10% of accounts receivable. If Allowance for Doubtful Accounts has a debit balance of $200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 0.75% of net sales and (2) 6% of accounts receivable. Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,200 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The companys estimate of bad debts is as follows. At December 31, 2009, Braddock Company had a balance of $15,000 in the Allowance for Doubtful Accounts. During 2010, Braddock wrote off accounts totaling $13,000. One of those accounts ($1,800) was later collected. At December 31, 2010, an aging schedule indicated that the balance in the Allowance for Doubtful Accounts should be $19,000. On December 31, 2010, Jarnigan Co. estimated that 2% of its net sales of $400,000 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2011, Jarnigan Co. determined that Terry Fryes account was uncollectible and wrote off $1,100. On June 12, 2011, Fryes paid the amount previously written off. On March 3, Cornwell Appliances sells $680,000 of its receivables to Marsh Factors Inc. Marsh Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Cornwell Appliances books to record the sale of the receivables. (For multiple debit/credit entries, list amounts from largest to

The US and middle east Essay Example | Topics and Well Written Essays - 1000 words

The US and middle east - Essay Example However, the Second World War was a wakeup call in all regions of the world as it fuelled nationalism, and this instigated calls for the Arab Nationalism. The Arabs felt that they had had enough of the British and the French who were colonising them. The Americans were not left out, and this is what led to the conflicts that exist to date between the United States and the Middle East. The writer of the article is addressing the Middle East by opening up some of the unseen agendas of the American - Middle East relationship. The writer explains the origin of the relationship between the Middle East and the United States of America, the factors that led to the sharp conflict, democracy in the Middle East as well as the effects of the September 11 attacks on the American Middle East relationship. The author attempts to convince the audience and actually sets forth credible points to support his arguments. The writer is also at times harsh and objective in putting his points across such a s arguing that the United States has a huge disregard for the Middle East in respect to human rights and democracy. The writer is convincing as his sources are credible and has conducted an in-depth analysis to make us understand what the relationship is all about. In addition, the writer looks at the historical relationship and where it was as well as where the relationship is headed. He also looks at who are the major beneficiaries of the relationship, which is very persuading. Nevertheless, at some instances the arguments are out of line; for instance, the claim that the United States does not care for the Middle East and for a very long time the relationship has been based on how they could acquire oil by fuelling conflict without making up for it. Ethos, Pathos and Logos are the modes of persuasion that are used in argumentative essays. The writer uses Logos, which is a persuasion technique that embraces the use of logic or logical arguments. He uses deductive and inductive rea soning, which helps make the argument credible. The writer also uses pathos, which is meant to appeal to the reader’s emotion, as well as ethos, which is meant to convince the reader that the writer is an expert in the field he is writing about. The Ethos the writer uses in the paper includes quoting credible sources such as Colin L. Powell, who is the former United States secretary of state; he also states his credentials as a scholar in the Middle East affairs, and hence the information he is presenting is credible. Reading through the essay, one is able to extract much information, e.g. the US policy on IRAQ, the US strategy on the Arab World as well as the relations between the US and Qatar, which for the a long time could be described as strained and problematic. The ethos can be defined by a quote by Powell (2004), who was defending the US policy in the Middle East: â€Å"The United States’ National Security Strategy does commit us to preemption under certain li mited circumstances† (as quoted in Shunnag, p. 833) Finally, the other instance when the author resorts to Ethos in the paper is when he provides credible evidence and information about the US policy in Iraq and relations with Qatar as well as the strategy of the United States in the Middle East. Those are among the sharp areas of focus that he uses to persuade the reader. In this case