merchandiser, or manufacturer? 2) Could we use managerial accounting tools to assess the profitability of an organization other than a manufacturing business, or are the topics that we are learning only related to manufacturing? 3) If we could use these concepts in service and/or merchandising businesses, how would we go about doing so? Let's start with the first question. According to Casteele (2013), income statements are important to most business. It allows owners, managers, and
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statements, a complete lack of internal control, accounting as well as management collusion, managerial fraud, increased moral hazard, and the overpayment of executives within the firm. Misrepresentation of the financial statements and the misuse of accounting practices was the main reason for the Collapse of Lehman Brothers. It was said that upper management violated the Sarbanes-Oxley Act through the use of questionable and unethical accounting practices, more specifically through the use of Repo
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The purpose of this paper is to construct and support and argument on why I decided to pursue my MBA and how the results of my Jungian Personality self-assessment fit into my MBA goal. My desire for education started at an early stage in life. My parents who migrated from Cuba in 1966, ended up with five children and no education. I experienced hard-ships that I always attributed to my parents lack of education, to no fault of their own. I was the only sibling of five to obtain anything higher
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Developing an Ethical Business Environment: A Report to Executive Management Introduction Ethics and business rules always go together. The fact that business policing is based upon the different measures of complete recognition of social norms and social limitations, ethics is indeed a large part of the ways by which business organizations try to strive to be able to become more effective within their operational engagements with regards their aim of being able to influence the society as well
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Number 3 121 Cost Accounting In Auto Manufacturing Companies In Germany And The United States Robert Jinkens, USA RamMohan R. Yallapragada, Fayetteville State University, USA ABSTRACT Corporate accountants are mandated to prepare and distribute financial accounting reports for external U.S.ers at end of each accounting period. However, there are no similar statutory requirements for corporate accountants to provide managers of their companies with the management accounting information necessary
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in place the most suitable internal control system. For achieving our goals we have established for the internal control system's objectives we highlight the key strengths then we have been focused on its weaknesses by trying to identify the key important breakdowns at my bank internal control structure. An addition we ended by suggesting some recommendations for a proper plan of the internal control in dealing with the complexity and risk level of each organization. Control weakness * Workers
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PART I - INTRODUCTION Chapter 1 Introduction and Goals of the Firm Managerial economics is that part of economics applied to the decisions that managers must make. When managers make decisions that maximize firm profits, they simultaneously maximize shareholder wealth and promote efficient allocation of resources. Managers drift away from this objective when they concentrate on their own security. To avoid non-profit maximizing behavior, a growing number of firms are structuring compensation
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Activity-Based Systems: Measuring the Costs of Resource Usage Robin Cooper and Robert S. Kaplan Robin Cooper is a Professor at the Claremont Graduate School and Robert S. Kaplan is a Professor at the Harvard Business School. This paper describes the conceptual basis for the design and use of newly emerging activity-based cost (ABC) systems. TVaditional cost systems use volume-driven allocation bases, such as direct labor dollars, machine hours, and sales dollars, to assign organizational expenses
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use of historical hindsight page 12 RSM 322 Required Reading for Topics A. Review of the syllabus, responsibility centers and an introduction to case analysis Chapter 5 Part A :Responsibility Accounting E book reading: Sample case – BW Manufacturing company Case Writing Package 2015/16 ( See course web page) B. Introduction to Case Analysis, the importance of cash flow and income, and the relationship between strategy and cost
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Data Inputs to an MIS Most of the data source for MIS is the organization’s various transaction processing systems that capture and store data from ongoing business transactions. Data may also come from various functional areas (accounting, finance, sales, etc.) of an organization. External sources of data may include customers, suppliers, competitors, stockholders, and so on. Outputs of an MIS The output of most management information systems is a collection
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