DR-4
Reply to 5 discussions:
150 words each
no plaigarism
provide apa citations
Reply to Discussions
D1: Kaveri jaiswal
From the past many years, there has been given a sheer importance to the tone at the top and fraud commitment in an organization. Basically, the meaning tone at the top is the ethical atmosphere created by the management and leadership. Whatever the management set the tone, their employees follow. The main factor that determine this environment is the tone that leadership follows. If they believe in ethical conduct, their employees will be giving more priority to it and uphold the same values. But if the management, is not concerned about the ethics and moral values, then employees will be carefree and prone to conduct many unethical activities. Mostly employees follow their leaders and walk on the same path as their leader do and follow their lead doings.
Organizations need to determine the keen importance of having set the tone within their employees as when those will turn into conducting wrong things, it will simply spoil the name of the whole system. Unethical conducts might seem to be good till the time it is making profits but it passes on the fraudulent message to the employees and can sue them in future.
Important steps that every company must take to set a tone are- Integrity must be rewarded, set an example, expectation must say loud and clear to the employees, there should be safe provision for reporting frauds. These steps will play a great role in setting up a success model in every organization and will meet the ethical moral.
References-
Contreras, Alfredo; Dey, Aiyesha; Hill, Claire. In: Seattle University Law Review, Vol. 43, Issue 2 (Winter 2020), pp. 497-524
Warren, Danielle E.; Peytcheva, Marietta; Gaspar, Joseph P.Business Ethics Quarterly.Oct2015, Vol. 25 Issue 4, p559-582. 24p
Frank Kabuye; Nicholas Bugambiro; Irene Akugizibwe; Sharon Nuwasiima; Sharon Naigaga. In: Cogent Business & Management, Vol 6, Iss 1 (2019); Taylor & Francis Group, 2019
Reply:
D2: Ravali
Tone at the top refers to work culture and ethical values of the Organization. The work culture of the organization is set by the higher management of the organization and this culture defines the ethical values of the company and it has a direct impact on the employees in all aspects. The individuals in the authority can just characterize and execute the culture and employees just follow the rules set by the higher authorities. CEO,CFO, CTO etc are considered as higher management and these people play an important role deciding the Ethical values of the Organization. The Change in any organization comes only in a top-down approach. The highest authority of the organization plays a key role in defining the work culture. For example we can consider the work cultures of Amazon and Alibaba.com the major e-commerce platforms in different countries with two CEOs having different prospects and goals.
To build an Organization with the best ethical culture and values is to build a transparent work hierarchy, gather employee surveys, encourage the employees to report the incidents anonymously and regarding the employees for their honest work. Encouraging employees to report any unethical practices anonymously gives a clear idea on the work culture in the organization. Analyzing the employee surveys helps the higher management to identify the areas of improvement. Higher authorities visiting the facilities and examining the infrastructure, interacting with employees and closely monitoring the announcements and will help in the growth of the organization and sets a tone.
References:
Coates, M. (2014, March 12).Five ways to set the tone from the top. Retrieved from The Globe and Mail: https://www.theglobeandmail.com/report-on-business/careers/leadership-lab/five-ways-to-set-the-tone-from-the-top/article17438855/
Do, A. (2014, October 24). Jack vs Jeff: The two biggest ecommerce billionaires in the world are total opposites. Retrieved August 10, 2020, from https://www.techinasia.com/jack-ma-jeff-bezos-amazon-alibaba-billionaires-ecommerce
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D:3: Divya
This course helped me learning about accounting procedures and making effective decisions and they assisted me in learning how to manage budget plans and financial information of that company. When working and dealing with managerial accounting operations, analyzing of financial information by collecting and interpreting so that decisions can be made based on them. By learning from managerial accounting course, being a critical thinker and have more mathematical background which are learned from this course. Another important skills from this job are effective decision making skills and it is quite useful since managing finances require critical decision making factor and it also requires intuition and planning and these skills are acquired from this course. No matter small, medium and large organizations, managerial accounting course is quite useful and created new insights on how to handle financial condition and its related information and make efficient decisions.
From other concepts also I have gained more skills from this course. For instance, product costing valuation and this will deal with total costs involved when making product. Here costs are classified as direct, fixed costs and we can calculate and allocate charges of overhead so that they can assess costs of products without missing any costs when it comes to manufacturing. Another concept cost volume profit analysis method which offers information on finding profits of products. Making cash flows and determining how they will have impact on decisions are determined based on them. Analysis on cash flow is conducted where financial performance of company is described so that they can make efficient decisions. Further inventory turnover analysis will calculate on how many times that company sold and replace inventory in specific time period. So this course is used in identifying costs of inventory and expenses spent on that company and its related product and make efficient decisions (cleverism.com, 2019).
Reference
cleverism.com. (2019). Management accounting skill. Retrieved from,
https://www.cleverism.com/skills-and-tools/management-accounting-skills/
corporatefinanceinstitute.com. (2019). What is managerial accounting? Retrieved from,
https://corporatefinanceinstitute.com/resources/knowledge/accounting/managerial-accounting/
Reply:
D4: Revathi
1. Answer:
Managerial accounting skills prior to the class
Managerial accounting manages the fundamental diagnostic ideas of change, business measurements, rate and volume, and item productivity, and so forth where directors considering these announcements and reports will choose to execute the activities. Prior to taking this course, I thought uniquely about the significant parts of showcasing and finance. This course helped me comprehend the center exercises of an organization dealing with the capital required to turn out new items and a definite investigation of the operational expenses and the dangers associated with leading the tasks.
2. Answer:
New Skills acquired from class
In view of the evaluation like a benefit to volume proportion and information on the necessary pace of profits encouraged me to apply in the ongoing situation in the current organization in sparing the expense by decreasing the creation relaxed. The primary advantage I gained is actualizing the aptitudes accomplished on action-based examination to decide the number of activities associated with delivering the completed merchandise to give a gauge of the capital required. Introducing the income articulations and stock turn out helped me to propose the cost-sparing strategies in diminishing waste and improving the general effectiveness, guaranteeing the best possible income for the undertaking.
3. Answer:
Applying new Knowledge
Dealing with the team while giving the budgetary measurements during the arranging phase helped our team to control in the correct way accomplishing the objectives set according to the rules executing the errands and exercises inside the designated financial plan. Especially dealing with the seaward assets, conveying the agreement spending plan, and building up the advancement measurements lifted the gathering progress expeditiously, sending the item results on a benefit scale. Deciphering the fluctuations in the operational and arranged financial plan to screen, control, and advance the exercises to stick to the arrangement.
References
Paul Lo, & Kong Ng. (2020). An Analysis of Management Accounting System Development from the Structuration Theory Viewpoint.
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D 5: Anushka
Managerial accounting describes the process of measuring, identifying, and analyzing the information, and managers of the organization should process the accounting information that could ensure the business decisions. This could discover appropriate skills that are required over considering the business decisions and discover the costs and quality accounting information is processed the business operations (Agbejule & Huusko, 2011). This describes the development techniques that could describe the goods and services that will process the production assess and ensure the total costs. This explains the variable costs and improves the accounting part of the organization. This could define the services that consist of managing the identity of business operations that could process the maximize profits. It describes appropriate skills are required to develop the accounting information and consider business values. Financial information defines the business that consists of managing the standards represent the accounting department of the organization. This ensures proper knowledge will be efficient to have by everyone in the organization.
Managerial accounting skills considered to become professionals and understand business development over managing accounting skills (Yaln, 2012). This could describe the appropriate process that describes the management accounting will define the business units. This considers the different processes to accomplish the business insights that could utilize by the organization. It accomplishes the data insights that describe the real-time processes and manage the appropriate skills. Such as predictive skills are required that consider the transformed nature could process the insights of data. Communication skill is one the important one that understands the business development that could describe the accounting process and discover the operations which manage to understand. It accomplishes skills that discover the business units that process financial development. That related to the accounting department that understands the data and considers the analysis that could handle the accounting skills. It manages the business operations, and everyone should maintain knowledge over-analysis of the systems.
References:
Agbejule, A., & Huusko, J. (2011). The benefits of management accounting practices in manufacturing and service firms: a Finnish study.International Journal of Services Economics and Management, 3(4), 354-375. doi:10.1504/IJSEM.2011.042782
Yaln, S. (2012). Adoption and benefits of management accounting practices: An inter-country comparison.Accounting in Europe, 9(1), 95-110. doi:10.1080/17449480.2012.664394
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