...products for customer’s consumption. Gary's Market is a small sized, family owned grocery store that has been in the business since 1979. Gary's Market is one of Memphis best kept secrets for breakfast, lunch, dinner and selling merchandise by the bulk for low prices. The owner, Mr. Gary has been in the retail business for 40 years. He has proven that hard work and support can provide great results. He states, "I wanted to work for myself and have a legacy to leave for my children." His wife, two daughters and three sons work at the grocery store. Gary has two sons working as the managers, his oldest son is the treasurer, his wife is the manager of the kitchen, his oldest daughter is a secretary, his youngest daughter is financial advisor and Gary is the accountant/CEO. They all have an important part in the business. Starting a small grocery business pose as a challenge. He received a substantial amount of money from his grandparents. He wanted to invest his money in a company that he knew his grandparents would be proud. He decided that he want to own a grocery store that sold products for a reasonable price. Mr. Gary opened his store in June 15, 1979. In the second year of operation the grocery store, Mr. Gary realized that he was not equipped with the proper...
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...Fundamentals of Accounting: Managerial verses Financial Accounting Fundamentals of Accounting acct122 Fundamentals of Accounting: Managerial verses Financial Accounting What has the organization in its focus; futuristic planning, financial control, and data based decision making affecting its reports and suggestions; and an emphasis on relevance and timeliness in its decision making (2012)? The answer to this question is managerial accounting. According to J. W. Jones (2013), a retired managerial accountant, her job and other positions with the title are responsible for reporting financial information to the company’s administration and parties outside of her organization such as stockholders or creditors; however, her focus was the internal accounting services and needs of the business’s management. Mrs. Jones confirms there is a difference between managerial and financial accounting. Her career choice was managerial accounting which specialized in helping gather and communicate the information needed to set the company’s long term objectives and goals for cost control, revenue strengths and weaknesses, and profit data statistics within in local departments, regional and often territorial plants. At times, Mrs. Jones found herself working with certain data regarding customer groups and how they would be affecting that business segment in the future. This differed from financial accounting in that the latter would handle the matter from a historical account...
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...BMS1024 MANAGERIAL STATISTICS ASSIGNMENT The objective of this assignment is to test your understanding in the lessons learnt in Topics 1 until 10. It is also designed to test and enhance your critical thinking skills. Please follow the respective due date given below. Monday; 29th April 2013 before 5 p.m. to your respective tutor (Week 8) The assignment carries 20% of your coursework marks. Instructions: 1) This is a grouped assignment with a maximum of 4 members from the same lecture section. 2) The printed-out assignment must be submitted latest by the stated deadline. 3) Be sure to include the Assignment Cover Sheet which has been signed by you and your members. A penalty of 10% will apply for each day thereafter unless an extension of time has been granted by your lecturer before the due date. 4) The assignment must be typed written in the Microsoft Work in a report format. Handwritten or soft copy assignment is not acceptable. There is no restriction on the number of pages, font type, font size etc. You may include relevant Excel tables, graphs and charts if necessary. The quality of report presentation should be worthy of submission to your employer or project manager. Some marks will be deducted for submitting a sloppy report. 5) Be reminded that plagiarism is a serious offense. Any assignment that has been plagiarized from the Internet or from the other classmates will receive ZERO marks! 6) Refer to the Excel file to solve the cases. HH 1 BMS1024 ...
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...Managerial Accountants Costing Managerial Accounting has acquired more importance during the past years. The process of managerial costing consists of “measuring and assigning value to a company’s operation” (Hoffelder, 2012). Because of the value that this has acquired for many companies, is that the Institute of Management Accountants also referred as the IMA, have now been working on guidelines that detail the principles of managerial costing that are “unrelated to the cost modeling commonly used for financial reporting” (Hoffelder, 2012). Presently, managerial accountants work with a company’s information that is usually left out the financial reports. This supplement information is becoming very valuable that GAAP, also knows as the Generally Accepted Accounting Principles, is considering its own accounting principles. The model framework is not being put together as an alternative to GAAP, but instead its complement. As the chair of the IMA’s Managerial Costing Conceptual Framework Task Force, Mr. Larry White states “Management accounting is about what goes on inside the organization and making the purely economic decisions that are necessary for sustainable long-term growth and profitability” (Hoffelder, 2012). In other words, these guiding principles are not meant to set actual standards, but rather achieve the objective of forward looking models for internal costing purposes. Companies put a great significance on their financial reporting. The key principle...
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...BMS1024 MANAGERIAL STATISTICS ASSIGNMENT The objective of this assignment is to test your understanding in the lessons learnt in Topics 1 until 10. It is also designed to test and enhance your critical thinking skills. Please follow the respective due date given below. Monday; 29th April 2013 before 5 p.m. to your respective tutor (Week 8) The assignment carries 20% of your coursework marks. Instructions: 1) This is a grouped assignment with a maximum of 4 members from the same lecture section. 2) The printed-out assignment must be submitted latest by the stated deadline. 3) Be sure to include the Assignment Cover Sheet which has been signed by you and your members. A penalty of 10% will apply for each day thereafter unless an extension of time has been granted by your lecturer before the due date. 4) The assignment must be typed written in the Microsoft Work in a report format. Handwritten or soft copy assignment is not acceptable. There is no restriction on the number of pages, font type, font size etc. You may include relevant Excel tables, graphs and charts if necessary. The quality of report presentation should be worthy of submission to your employer or project manager. Some marks will be deducted for submitting a sloppy report. 5) Be reminded that plagiarism is a serious offense. Any assignment that has been plagiarized from the Internet or from the other classmates will receive ZERO marks! 6) Refer to the Excel file to solve the cases. HH 1 BMS1024 ...
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...concrete and gypsum. Lafarge operates on strong values and is striving to be effective, create value for its customers, and protect the environment (www.lafarge.com). Lafarge has a branch in Romania. Lafarge Romania produces cement, aggregates, concrete, and gypsum. This branch’s philosophy is innovation, quality, and diversification. Superior products paired with a strong sales and marketing force ensure the leading position of Lafarge on the Romanian construction material market (www.lafarge.ro). The National Sales Director of the Romanian branch is Ana XXXX. She oversees 3 regional sales managers and 7 senior sales representatives. Mrs. XXXX is in her late thirties and she has been working with the company for the past 7 years. She has a MBA degree and many certificates of training from both domestic and foreign programs. Before joining Lafarge, Mrs. XXXX has also worked as a National Sales Director for a cement manufacturer for 3 years. Ana XXXX is highly regarded for the work that she does. She possesses very strong leadership skills and is a...
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...CHAPTER 1 MANAGERIAL ACCOUNTING IN THE INFORMATION AGE CHAPTER Introduction FINANCIAL ACCOUNTING STRESSES ACCOUNTING CONCEPTS AND PROCEDURES THAT RELATE TO PREPARING REPORTS FOR EXTERNAL USERS OF ACCOUNTING INFORMATION. IN COMPARISON, MANAGERIAL ACCOUNTING STRESSES ACCOUNTING CONCEPTS AND PROCEDURES THAT ARE RELEVANT TO PREPARING REPORTS FOR INTERNAL USERS OF ACCOUNTING INFORMATION. THIS CHAPTER PROVIDES AN OVERVIEW OF THE ROLE OF MANAGERIAL ACCOUNTING IN PLANNING, CONTROL, AND DECISION MAKING. IT ALSO DEFINES IMPORTANT COST CONCEPTS AND INTRODUCES KEY IDEAS THAT WILL BE EMPHASIZED THROUGHOUT THE TEXT. THE CHAPTER CONCLUDES WITH A DISCUSSION OF THE INFORMATION AGE AND THE IMPACT OF INFORMATION TECHNOLOGY ON BUSINESS, A FRAMEWORK FOR ETHICAL DECISION-MAKING AND THE ROLE OF THE CONTROLLER AS THE TOP MANAGEMENT ACCOUNTANT. NOTE THAT YOU CAN ENHANCE AND TEST YOUR KNOWLEDGE OF THE CHAPTER USING WILEY’S ONLINE RESOURCES, THE SELF-ASSESSMENT QUIZ AND REVIEW PROBLEMS AT THE END OF THE CHAPTER. Objectives, Terms, and Discussions LO1 State the primary goal of managerial accounting. GOAL OF MANAGERIAL ACCOUNTING Managers need to plan and control their operations and make a variety of decisions. The goal of managerial accounting is to provide the information managers need for planning, control, and decision making. LO2 Describe how budgets are used in planning. Planning A plan communicates a company's goals to employees and specifies the resources needed...
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...having: - 16 years education with three years’ post qualification work experience; or - 14 years education with six years’ post qualification work experience - Minimum 45% aggregate marks in the last degree. Satisfactory performance in the IBA admission test and interview. Ideal Group Size is Thirty (30) in-service professionals/mid-career managers. Executive MBA degree from IBA Karachi shall be awarded on qualifying: − Course work with minimum 2.2 CGPA − Comprehensive exam − Completion of two research projects Duration Format Group size Degree Minimum 2 years and maximum 5 years − Learning sessions are scheduled on: Saturdays Sundays 6:00 pm to 9:15 pm 10:00 am to 5:15 pm − 18 core courses of three/four credit hours and two term reports / projects of...
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...involves the management practices of Mr. Bushley, who has been too busy to standardize a training program for his management team, and has no potential successors for the 4 mangers he is losing to entrepreneurship and retirement. Faced with this challenge, he has hired a consultant to assist with this transitional period and plan for better training and effective communication in the future. Mr. Bushley says that he does not have time or experience to help alleviate the situation. The use of technology for training and communication can help Mr. Bushley overcome this dilemma as well as create permanent processes for management training and succession in the future through remote training, knowledge sharing, collaboration tools, as well as reporting through email and online. Discussion As a management consultant with the goal of helping Mr. Bushley and ServeNow survive this transition, the first piece of advice given would include clear requirements of the position that he is looking to fill. Store managers should have previous experience with grocery store and operations management if they don’t already have experience in the ServeNow store operations on theri resume. It would be helpful to be honest about the transitional phase that ServeNow is going through and ask for recommendations and ideas to help- as this may be a way to test the operations knowledge and creativity of the individual. This position should require great managerial communications skills, and technical...
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...HMPYC80 Assignment 2 Unique Code: 657101 Student No. 4875-738-1 P a g e | 1 of 9 Title: Micromanagement is causing a decline in the morale and productivity at Eco Wireless. Author: 4875-738-1 HMPYC80 Assignment 2 Unique Code: 657101 Student No. 4875-738-1 P a g e | 2 of 9 Cover letter accompanying my Research Proposal Mr G. Specter Managing Director Eco Wireless 09 May 2015 Dear Mr Specter RE: Research Proposal: Micromanagement is causing a decline in the morale and productivity of the Eco Wireless technicians. As you are aware I am the Quality Manager and an Executive Director at Eco Wireless. I have a special interest with the Micromanagement that is taking place in this company due to the fact that the consequences can be detrimental to the success of this business. I attach a proposal for further research in this field. The reason for approaching you is that since the new manager was hired, who has been micromanaging the staff at Eco Wireless; I have noted a consistent drop in morale and subsequently a drop in productivity over the past 9 months. The proposed project will be incredibly beneficial. It, therefore, seems appropriate to propose a research project designed to measure the morale and productivity of our employees as well as the micromanagement of the new Manager, to find out if they correlate. I hope to hear from you soon. Yours sincerely M Yates Michelle Yates Quality Manager & Executive Director Eco Wireless ...
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...FUNDAMENTALS OF HUMAN RESOURCE MANAGEMENT | Final Project Report | | Fall 2015-16 | 12/13/2015 | | Index Description | Page No | 1. Executive Summary (ALL) | 02 | 2. Business Information (ALL) | 03 | 3. Human Resource Policy & Practices (AK) | 04 | 4. Employee Recruitment (MR & AIZ) | 05 | 5. Employee Selection (AJA) | 06-07 | 6. Training & Developing Employees (AIZ & MR) | 08-09 | 7. Employee Benefits (RI) | 10 | 8. Epilogue (ALL) | 11 | 9. Acknowledgement (ALL) | 11 | N.B. The short form of the names are listed in the index who performed the activities- Mashfiqur Rahman (MR); Atkia Jahanara Alam (AJA); Anatoney Kelly (AK); Rakibul Islam (RI); Ahmed Ishtiaq Zadid (AIZ); All members participation (ALL) Executive Summary ‘beaumonde’ is an Imaginary Bangladeshi private limited company which manufactures women cosmetics and healthcare products. The company has total 800 employees in different levels according to work division & departments. In this report the human resource policy and practices of the company will be illustrated. The human resource functions will be presented & also the process of selection; recruit; training; development & employee benefits will be demonstrated. The principal focus of the report is to show the implications of human resource management...
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... Submission Date: December 26, 2006 Daffodil International University Sukrabad, Dhaka 1207 Md. Yeaqub Ali Daffodil International University 102 Sukrabad, Dhanmondi Dhaka 1205 December 26, 2006 Professor Dr. Quazi Abdus Samad Course Instructor, fall semister 2006 Faculty of Business & Economics Daffodil International University Dear Sir: Subject: Submission of Report on “Roles and Responsibilities of Manager at Different Levels of Organizational Hierarchy in Banglalink GSM Telecom Co” This is informing that I completed of “Term paper.” The topic of the research is “Roles and Responsibilities of Manager at Different Levels of Organizational Hierarchy in Banglalink GSM Telecom Co” In preparing this report; a careful attempt has been made regarding the use of most useful and valuable information and findings from both primary and secondary sources. The name of all sources...
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...A STUDY ON VARIOUS ACCOUNTING PRACTICES FOLLOWED AT LAXMIPATI SAREES A Project Report Submitted for the partial fulfillment of the Bachelor of Business Administration 2011-2014/15 SEMESTER IV Page 1 In the subject of MANAGERIAL ACCOUNTING Submitted by Karishma Chandak Nishit Deora Chinmay Jariwala Sameer Iyer Submitted to Mrs. Meghna Dangi AURO UNIVERSITY TABLE OF CONTENTS Acknowledgment .......................................................................................................................................... 3 1 2 3 4 5 6 Introduction:.......................................................................................................................................... 4 Company profile ................................................................................................................................... 6 Production and Operations carried out at Laxmipati Sarees: ................................................................ 8 Answers to the Questions:..................................................................................................................... 9 Recommendations: .............................................................................................................................. 14 Conclusion .......................................................................................................................................... 15 Page 2 ACKNOWLEDGMENT The success of any project depends...
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...Scenario Joe told John, VP of HR at Lamp Electronics, that he had been instructed to use a different and more aggressive accounting method for forecasting and calculating projected sales revenue for the coming year. He believed this approach would mislead the shareholders; so he had to go the HR department. Establishing an Effective Ethical Business Culture: Building an effective, fair, and safe ethical environment is important for employees, the survivability, and reputation of the organization. The HR Focus states (2008), “Safeguarding company reputation was the main concern among 390 senior executives and anti-corruption specialist in 14 countries” (p. 14). Senior executives and the HR department both are responsible for ensuring goal accomplishment. These parties must ensure an effective code of conduct program is established and executed in order to create a fair and responsive environment for all employers and employees; this is how a company builds a positive work environment. Employers work ethic are essential to the developmental of an ethical environment. Ghosh states (2008), “The asymmetry in the employer-employee relationship and the actual functioning of power in an organization implies that an employee or group of employees can never develop responsible and ethical behavior without the support and direction of top management” (p. 68-87). My recommendation to the Lamp Electronics company is to develop an integrity instructional ethic training to teach...
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...organization at three managerial levels. A1. Hierarchy @Managerial Levels Store Level (Operational) 1. Store Manager Managerial Level 1. DSM (District Sales managers) 2. RDO (Regional Directors of Operations) 3. Senior Regional Directors Strategic Level (or corporate) 1. Store Controllers 2. Vice President of Operations 3. Debbi (Owner) At the Store level, the store manager required: 1. 2. 3. 4. 5. 6. 7. 8. Menu specific projections of achievable sales target for the day. Continuous review of projected sales as per customer count. Time clocks: How many batches to mix and when to mix them. Labor scheduler Inventory management: Computation of supply needed Interview scheduling & resume scanning Skill testing and electronic and voice communication with the HQ Sales recording At the Managerial Level 1. District Managers need lots of data about the sales, number of customers, their time of visit, and item-specific demand. The Info system needs to compile this data for the district managers. 2. Analysis tools: The Information systems needs to generate trends based on the data collected (as mentioned above). This is needed for setting quotas. 3. The information system should also be able to come up with store based predictions of future growth prediction which would assist the regional managers to devise appropriate marketing strategies. 4. It helped in calculating cash underages and outages. At the Corporate or Managerial level 1. Centralized...
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