CourseLover

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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Management Posted 23 Dec 2017 My Price 10.00

THE RISE AND FALL OF MANAGEMENT ACCOUNTING

Hello Again ,

Accoudring to the answer you posted for me , our doctor asked for more detailed question which is ( Why ,or what is the meaning of RELEVANCE LOST THE RISE AND FALL OF MANAGEMENT ACCOUNTING)
Can you please add the answer in the attached document .
Length for this particular question is 1 to 2 paragraph in simple English language .
Thank you


RELEVANCE LOST THE RISE AND FALL OF MANAGEMENT ACCOUNTING RELEVANCE LOST THE RISE AND FALL OF MANAGEMENT ACCOUNTING In today’s world of management accounting information, emphasis paid on short term profits and monthly targets has drastically increased which leads to the ignorance of economic profit added and long term development of any organization. Managers are paying more attention on meeting short term goals and monthly/quarterly meetings which will lead to a downfall of company’s performance in the future to come. The given article can be summarized in the following points: 1. The short sightedness of managers results in below mentioned consequences:  Decrease in the efficiency and productivity of the operating managers, who mainly deals with the irrelevant factors like direct labor costs, and thus get distracted from the factors that are responsible for production efficiencies.  Accurate product costs can’t be determined as the methods do not pay focus on demands of the individual products. This ultimately leads to incorrect pricing and wrong decision making by the management.  The expenses like advertising, employee training, new system development, etc. that can add value in future are compromised in order to have positive good profit statement for the year. 2. The organization’s management accounting system should provide accurate and timely information in order to control the costs incurred and to improve productivity. 3. Appropriate signals and incentives should be provided to the managers in order to evaluate and motivate them and free flow of communication and information should be 1
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CourseLover
(12)
Status NEW Posted 23 Dec 2017 02:12 PM My Price 10.00

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