...field of accounting that provides economic and financial information for managers and other internal users (Weygandt, Kimmel & Kieso, 2012). Managerial accounting is an important internal business function. Many companies use managerial accounting to record and report their internal financial information. There are differences between financial accounting and managerial accounting. Financial accounting focuses on preparing financial reports and releasing information to the public while managerial accounting focuses on preparing financial information for internal review and decision making. Managerial accounting offers several important tools for measuring the company operational performance. Common types of managerial accounting include job costing, process costing, activity-based costing and also budgeting. 2.0 Benefits of Managerial Accounting Practices Towards Business Organization Create Competitive Advantage Management accounting can help businesses create a competitive advantage. Many business owners focus on creating consumer goods with lowest-priced and highest-quality product in the market. The ability to review financial information through managerial accounting is important in creating a financial competitive advantage. In 2010, Maxis Berhad wins excellence award in management accounting from the national award for management accounting (NAfMA). One of the winning criteria is the company ability to create the financial competitive advantage over the competitor...
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...Development/NGO, Management Development and so forth. Since its inception, Bdjobs Training has been mentoring the professionals by providing latest industry focused education. BT, in this expedition, engages hundreds of industry experts to ensure quality education to the young entrepreneurs and professionals of the country. BT offers both short (1 or 2 days) and long courses in the form of workshop and certificate training. Also BT offers customized in-house training programs exclusively designed for a group of employees. Customized courses can be provided either at our training facilities or on-site at clients’ location. Our training programs are lively, interactive, and include role-playing and demonstrations of real-life workplace issues and solutions. bdjobstraining.com Page |2 bdjobstraining.com Page |3 TRAINING TRACKS Marketing/ Sales Track • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 1111 Selling Techniques for Excellence 13 Lessons to turn every Company into Fantastic Brands Advance Selling Techniques Art of Pharmaceutical Sales Brand Management–Walking the Talk Branding for Bangladeshi Business Constructive & Modern Leadership Approach in Selling through Team Building Corporate Sales Management for Excellence Creating New Prospects and Managing Sales Pipeline Creative & Successful Selling Techniques for Excellence Customer Relationship Management (CRM) Digital / On-line Marketing - New Era of Brand Management Effective...
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...Sample Strategy Maps Best Practice Strategy Maps Software Company Strategy Map Financial Perspective Leader in Strategic Markets Increased Shareholder Value Diversify Revenue Streams Predictable Profitability “Customer Intimacy” “eBusiness Solution Leadership” Flexible, Innovative Solutions One Stop Accountability Deliver Comprehensive Solutions “Operational Excellence” Consistently Meets Expectations Customer Perspective Lifelong Advisor Proactively Deliver Value Easy to do business with Internal Perspective Build Lifelong Relationships Capture and Leverage Knowledge Solutions Grow InterEnterprise Solutions Improve Resource Allocation WellManaged Leverage 3rd Party Relationships Provide Integrated Business Processes Effective Solution Processes Effective Cost Management MARKET SEGMENTATION MODEL Learning & Growth Perspective Relationship Management Skills Solution Management Skills Operational Management Skills Successful Career Planning Accountability Industry Expertise Knowledge Management Entrepreneurial/Innovative Leverage Solutions Identify, Attract, & Retain Skilled Employees 2 ©2010 Palladium Group, Inc. Healthcare Strategy Map “Maximize the Quality of Life and Dignity of Older Adults” Increase Shareholder Value Financial Create Cash Flow Grow Revenue Create EBITDAR Manage Expenses Customer Trust Choice Consistency Pay For Service “Customer...
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...Measuring Business Excellence Sustaining and transferring excellence: A framework of best practice of TQM transformation based on winners of Baldrige and European Quality Awards Ian McDonaldMohamed ZairiMohd Ashari Idris Article information: To cite this document: Ian McDonaldMohamed ZairiMohd Ashari Idris, (2002),"Sustaining and transferring excellence", Measuring Business Excellence, Vol. 6 Iss 3 pp. 20 - 30 Permanent link to this document: http://dx.doi.org/10.1108/13683040210441959 Downloaded on: 16 October 2015, At: 16:13 (PT) References: this document contains references to 10 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 1354 times since 2006* Downloaded by Anglia Ruskin University At 16:13 16 October 2015 (PT) Users who downloaded this article also downloaded: Masood Abdulla Badri, Hassan Selim, Khaled Alshare, Elizabeth E. Grandon, Hassan Younis, Mohammed Abdulla, (2006),"The Baldrige Education Criteria for Performance Excellence Framework: Empirical test and validation", International Journal of Quality & Reliability Management, Vol. 23 Iss 9 pp. 1118-1157 http://dx.doi.org/10.1108/02656710610704249 Tito A. Conti, (2007),"A history and review of the European Quality Award Model", The TQM Magazine, Vol. 19 Iss 2 pp. 112-128 http:// dx.doi.org/10.1108/09544780710729962 S. Wongrassamee, J.E.L. Simmons, P.D. Gardiner, (2003),"Performance measurement tools: the Balanced...
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...Sample Strategy Maps Best Practice Strategy Maps Software Company Strategy Map Financial Perspective Leader in Strategic Markets Increased Shareholder Value Diversify Revenue Streams Predictable Profitability “Customer Intimacy” “eBusiness Solution Leadership” Flexible, Innovative Solutions One Stop Accountability Deliver Comprehensive Solutions “Operational Excellence” Consistently Meets Expectations Customer Perspective Lifelong Advisor Proactively Deliver Value Easy to do business with Internal Perspective Build Lifelong Relationships Capture and Leverage Knowledge Solutions Grow InterEnterprise Solutions Improve Resource Allocation WellManaged Leverage 3rd Party Relationships Provide Integrated Business Processes Effective Solution Processes Effective Cost Management MARKET SEGMENTATION MODEL Learning & Growth Perspective Relationship Management Skills Solution Management Skills Operational Management Skills Successful Career Planning Accountability Industry Expertise Knowledge Management Entrepreneurial/Innovative Leverage Solutions Identify, Attract, & Retain Skilled Employees 2 ©2010 Palladium Group, Inc. Healthcare Strategy Map “Maximize the Quality of Life and Dignity of Older Adults” Increase Shareholder Value Financial Create Cash Flow Grow Revenue Create EBITDAR Manage Expenses Customer Trust Choice Consistency Pay For Service “Customer...
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... All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on an enterprise. Students will learn to examine financial information from the perspective of management. Other topics include decision-making, planning, and controlling from the perspective of a practicing manager. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2011). Financial accounting: Tools for business decision making (6th ed.). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website. Week One: Basic Accounting Principles and Concepts Details Due Points Objectives 1.1 Identify the four basic financial statements. 1.2 Classify transactions using the rules of debit and credit. Course Preparation...
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...Management Planning Paper Artrina Towner University of Phoenix MGT/330 August 16, 2010 Don Driscoll Management Planning Paper Tyco International Ltd is a diversified, global company that provides vital products and services to customers in more than 60 countries. With more than 100,000 employees worldwide, Tyco is a leading provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco vision is to be the customers’ first choice in every market they serve by exceeding commitments, providing new technology solutions, leveraging their diverse brands, driving operational excellence, and committing to the highest standards of business practices. Tyco strive to adhere to the highest standards of corporate governance by establishing processes and practices that promote and ensure integrity compliance and accountability. They understand and exceed their customers’ needs, wants and preference to provide greater value to their customers. Tyco focus on strategies to achieve organic growth targets and deploy cash for growth and creation. They build on the company reputation and image internally and externally while driving initiatives to ensure Tyco remains an employer of choice. Operational excellence implement best in class operating practices and leverage companywide opportunities and best practices. The financial strength and flexibility, ensures that revenue...
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...A PAPER ON INSTITUTIONALIZING CONTINUOUS IMPROVEMENTS THROUGH USE OF ESTABLISHED PERFORMANCE EXCELLENCE FRAMEWORKS By: Author 1: Prof. Cdr. Bhushan Dewan Director, VNS Business School, Bhopal MOBILE- 08120395060 Email- bhushan.dewan1@gmail.com ABOUT AUTHOR 1: 21 years of corporate experience as Vice President, Tata Consultancy Services, President-Tanla Solutions Ltd., Sr. VP- Adani Group, Commander-Indian Navy. 17 years of academic experience as Director Naval IT Management Institute, author of 2 books on Management of Technology. Speaker at various national & international seminars; Served as Jury Member of CII Award for Human Excellence, Jury Member, QIMPRO Platinum Award for Quality. And Author 2: Prof. Arun Mishra Assistant Professor, VNS Business School, Neelbud, Bhopal Mobile: 9893686820 Email: arunjimishra@gmail.com ABOUT AUTHOR 2: Author is an MBA from FMS, Dr. Hari Singh Gour University, Sagar (M.P.). He is having total 9 years of work experience. Since 2 years he is in academics. Earlier to this he has served in various corporate in various capacities for 7 Years which include ICFAI, HDFC Bank, Wander Ltd. Wockhardt Ltd. etc. ABSTRACT Old-fashioned command-and-control companies were merely trying to manage the "white space" in their organizational charts. Today's companies must manage the white space in entire value chains. Value chain is a high-level model of how businesses receive raw materials as input, add value to the raw...
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...Daryush Farid, Mehran Nejati, Heydar Mirfakhredini, Balanced scorecard application in universities and higher education institutes: Implementation guide in an iranian context / Annals of University of Bucharest, Economic and Administrative Series, Nr. 2 (2008) 31-45 BALANCED SCORECARD APPLICATION IN UNIVERSITIES AND HIGHER EDUCATION INSTITUTES: IMPLEMENTATION GUIDE IN AN IRANIAN CONTEXT DARYUSH FARID, َ EHRAN NEJATI, HEYDAR MIRFAKHREDINI∗ M Close compete of universities and higher education institutes in recent year in order to offer high quality services and achieve higher national and International rank, has led to an increase in their demand for a customized approach for assessing and improving their performance. This paper studies the application of Balanced Scorecard (BSC), as a powerful measurement and assessment system, in universities and higher education institutes. Reviewing the existing literature, the paper also provides an implementation guide for BSC in an Iranian perspective. Eventually, the performance indicators for measurement purposes of the introduced case study are proposed. Keywords: Balanced Scorecard, BSC, Performance Assessment, Higher Education, Universities, Iran. Introduction In today’s world of global competition, providing quality service is a key for success, and many experts concur that the most powerful competitive trend currently shaping marketing and business strategy is service quality (Abdullah, 2006, p. 31). Institutes of higher...
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...HEALTH MANAGEMENT Student’s name University Affiliation Professor’s name Course title Date DQ 1 Respond to Management Principles for Health Professionals Chapter. 10 Managers must motivate their employees in order to achieve the goals set and to adapt to the demands of the organization. The workers must be able to fit into the framework of the organization (Liebler & McConnell, 2012). There is a strong relationship between adaptation activities, motivation and the control of a manager. People work better if they feel that they have a place within the organization and are more motivated. An organization must set ground rules for integration and ethical behavior within the workplace. These rules will ensure that workers work effectively. Managers must stay in touch with the needs of the workers and address these needs as effectively as possible. Workers who feel that their needs are not addressed will be less productive, lead to high turnover and increased absenteeism (Liebler & McConnell, 2012). Managers must be aware of motivators in the workplace and address them to increase the motivation of their subordinates. These motivators may include improving working conditions, promotions and salaries. Motivational strategies increase the motivation of the workers who feel that they are appreciated for the work that they perform within the organization. Motivated employees feel that they are satisfied with their jobs and work harder to ensure that organizational...
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...Description Alliance Financial Group Berhad was founded in the year 1966 April 7 and its headquartered are located in Kuala Lumpur, Malaysia. On the date of 6 July 1979, Alliance Financial Group Berhad has successfully been listed on the Main Market Listed Companies of Bursa Malaysia Securities Berhad. Alliance Financial Group Berhad (AFG) is an investment holding company in Malaysia along with its subsidiaries, Alliance Bank Malaysia Berhad, Alliance Islamic Bank Berhad and Alliance Investment Bank Berhad which provides many different kinds of services such as commercial banking, stock broking, financing, Islamic banking, investment advisory and investment banking. The Alliance Financial Group Berhad (AFG) manage in five different segmentation such as investment banking, business banking, financial market, consumer banking and others. The investment banking part are corporate advisory and stockbroking activities that comprise with corporate restructuring, equity fund raising, mergers and acquisitions and so on. Next, the business banking part of the Alliance Financial Group Berhad provides services which includes cash management, treasury, trade finance, loans and others. Furthermore, the financial markets of the Alliance Financial Group Berhad offers wealth management, foreign exchange and investment solutions for their customers. Moreover, for the consumer banking, it gives personal banking solutions for covering mortgages, personal loans, credit cards, wealth management and so on....
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...2005 Baldrige National Quality Program Criteria for Performance Excellence THE MALCOLM BALDRIGE NATIONAL QUALITY AWARD PROGRAM A Public-Private Partnership Building active partnerships in the private sector—and among the private sector and all levels of government—is fundamental to the success of the Baldrige National Quality Program in improving national competitiveness. Privatesector support for the Program in the form of funds, volunteer efforts, and participation in information transfer continues to grow. To ensure the continued growth and success of these partnerships, each of the following organizations plays an important role. Board of Overseers The Board of Overseers advises the Department of Commerce on the Baldrige National Quality Program. The board is appointed by the Secretary of Commerce and consists of distinguished leaders from all sectors of the U.S. economy. The Board of Overseers evaluates all aspects of the Program, including the adequacy of the Criteria and processes for determining Award recipients. An important part of the board’s responsibility is to assess how well the Program is serving the national interest. Accordingly, the board makes recommendations to the Secretary of Commerce and to the Director of NIST regarding changes and improvements in the Program. Foundation for the Malcolm Baldrige National Quality Award The Foundation for the Malcolm Baldrige National Quality Award was created to foster the success of the Program. The...
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...2005 Baldrige National Quality Program Criteria for Performance Excellence THE MALCOLM BALDRIGE NATIONAL QUALITY AWARD PROGRAM A Public-Private Partnership Building active partnerships in the private sector—and among the private sector and all levels of government—is fundamental to the success of the Baldrige National Quality Program in improving national competitiveness. Privatesector support for the Program in the form of funds, volunteer efforts, and participation in information transfer continues to grow. To ensure the continued growth and success of these partnerships, each of the following organizations plays an important role. Board of Overseers The Board of Overseers advises the Department of Commerce on the Baldrige National Quality Program. The board is appointed by the Secretary of Commerce and consists of distinguished leaders from all sectors of the U.S. economy. The Board of Overseers evaluates all aspects of the Program, including the adequacy of the Criteria and processes for determining Award recipients. An important part of the board’s responsibility is to assess how well the Program is serving the national interest. Accordingly, the board makes recommendations to the Secretary of Commerce and to the Director of NIST regarding changes and improvements in the Program. Foundation for the Malcolm Baldrige National Quality Award The Foundation for the Malcolm Baldrige National Quality Award was created to foster the success of the Program. The...
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...Being Five Star in Productivity Roadmap for Excellence in Indian Banking Being Five Star in Productivity: Roadmap for Excellence in Indian Banking A The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients in all sectors and regions to identify their highest–value opportunities, address their most critical challenges, and transform their businesses. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 74 offices in 42 countries. For more information, please visit www.bcg.com. Federation of Indian Chambers of Commerce and Industry (FICCI) is India’s apex chamber representing over 500 industry associations and over 2,50,000 business units — small, medium and large — employing around 20 million people. FICCI works closely with Central and state governments and regulatory bodies for policy change. Indian Banks’ Association (IBA) is the premier service organization of the banking industry in India. Its members comprise of almost all the Public, Private, Urban co– operative and Foreign banks having offices in India, developmental financial institutions, federations, merchant banks, housing finance corporations...
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...elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property. WEEK 1 - TOPIC 1: PERSONAL FINANCIAL PLANNING Objectives List the five steps in the personal financial planning process. Summarize what influences personal financial planning. Identify parts of a financial plan. Materials READING: Read Ch. 1 of Personal finance - Personal Financial Planning in Action: Developing a Personal Financial Plan. SUPPLEMENT: Appendix A: How to Install Quick Time Movie Player SUPPLEMENT: Appendix B: Personal Financial Planning Worksheet WEB LINK: Decision to Own a Home vs. Rent Video SUPPLEMENT: Video Transcript - Decision to Own a Home vs. Rent Assessment Please see instructor's syllabus for details on assignments. Participation/Discussion Questions WEEK 2 - TOPIC 1: MONEY MANAGEMENT Objectives Describe how to organize and prepare personal financial statements. Identify cash management products and services. Complete a personal cash flow statement. Materials READING: Read Ch. 2 of Personal finance - Money Management Strategy and Skills: Putting Your Financial House in Order. READING: Read Ch....
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