Case Study Of Railway Business At JR EAST Group Company

As the first accounting employee at a start-up technology company, success presented itself as an endless opportunity and involved an array of subject matter. Tasks ranged from establishing an accounting system, implementing processes and hiring staff, to developing reports, performing operational analysis and preparing budgets/forecasts. After six years of dedicated effort, there is now a functioning Finance department

Above all, it identifies specific strategies that the firm should focus on and define allocation of responsibilities. Ideally, key functional areas should be broken down into different segments such as marketing, administration, human resources, and technology. However, determination of resource allocation depends mostly on the size of the firm. Presumably, larger firms such as the big four can set systems and procedures in all areas while small to medium sized firms handle certain areas they presume most valuable. In addition to well-functioning structure, accounting firms can achieve long term success by maintaining a blend of people and skills. A well-balanced team will usually have a mixture of qualified accountants, bookkeepers, and administrative support. Similarly, management capability to retain and motivate employees is crucial to a firm’s success. In order to attract and lead the appropriate people, creating the right tone is an important element in corporate governance and critical to effective

Operations is separate from the accounting department. The employees in operations handle promoting the products. Also, Operations is in charge of making the products. The company’s accounting system is handled in-house by the cashier and the bookkeeper and by the accounting firm hired to handle the businesses’ financial reporting. The cashier handles all sales through the register. The register is balanced against the drawer each night by the bookkeeper and a deposit made the same day. The bookkeeper gives the accountant the drawer receipts and bank receipts for journal entries and later reports. The accountant checks all cash received and payments made against bank statements and collected paperwork. There is not a single person assigned to do all duties.

Hilton, R. (2011). Managerial accounting: Creating value in a dynamic business environment (9th Ed.). McGraw-Hill. Hardcover ISBN: 9780073526928.

Folk, M., J., Garrsion, H., R., & Noreen, W., E., (2002). Introduction to Managerial Accounting. New York, NY: McGraw-Hill/Irwin.

What makes a large organization like Wal-Mart financially successful? One could say it is the result of outstanding personnel or perhaps a strong determination to succeed. These factors certainly contribute. However the key to financial success in organizations lies in good accounting. Since early civilization began, accounting has been an important part of our financial transactions. In today’s world our use of modern accounting systems and accurate financial statements are critical components that make modern organizations successful. To facilitate understanding of this point one must understand how

S., & Hassan, M. K. (2012). The domination of financial accounting on managerial Commerce & Management, 22(4), 306-327. doi:10.1108/10569211211284502

Dynamic companies use their internal budgets to make course adjustments throughout the year. For instance, if a product or service is not doing well in the first half of the year in comparison to the forecast or budget, the management team can use that information to make necessary changes or to scale back operations until market trends or the economy changes. Managerial accounts are the value creator for the organization (Collier, 2003). Their forward-looking capacity will help the organization to plan and make decisions for future profitability. The management accountants have a dual role to perform in an organization. The management accountant works as a strategic partner to provide strategic based financial and operational information (Collier, 2003). They are also responsible for business team management in organizations. The management accountant plays a prominent role in preparing financial reports, risk, and regulatory reporting, aggregating financial information, forecasting and planning important organizational information. Managerial accountants often perform cost analysis of products and divisions, which include variable and fixed costs. The production decisions made by managers are a direct result of information received from managerial accountants.

Fantastic, Inc. is a case study which allows you to incorporate numerous financial and managerial accounting concepts into a single business setting. You will take the position of the company controller who will prepare the budget for the year ended December 31, 2006, using the actual data from 2001 through 2005 and information given to you by various departments. You will prepare a report for the president of the company describing the strengths and weakness of the corporation as well as to provide suggestions for the future. In short, you will be responsible for the planning and control procedures for the company from an accounting standpoint.

Garrison, R., Noreen, E., & Brewer, P. (2015). Managerial accounting (Fifteenth ed.). New York, NY: McGraw-Hill Education.

Managerial accounting underlines on future choices and it is not an obligatory practice. It gives data to the association's insiders in connection with performance assessment, inspiration, course and control. The opportuneness of report is a noteworthy prerequisite and accentuation are set on the significance of things in choice making (Needles, Powers and Crosson, 2010). Administrative bookkeeping gives a report on clients, items, workers and divisions. Also, it is not an absolute necessity for administrative bookkeeping to take the proper accounting rules.

In my PLTW Aerospace Engineering class, we decided to design and build our own RC airplane, and I was chosen to be a project manager for our class of five students. My job is to assign tasks to everyone, including myself and make sure each person is working and doing the task correctly. I take into account each person’s skills when I assign tasks. For example, I had one student keep track of the money we used based on his knowledge he acquired from taking an accounting class. I had two students, who excel in writing, write proposals for funding, and I assigned the last student to order parts based on his knowledge of the parts used and the parts that we needed. I also lead discussions where we collaborated to come up with a design or to solve

The purpose of this group project is to help you integrate the managerial accounting concepts we

Accounting relates to all a business does and is seen in every aspect of a business whether it is small or big and general. Whether one is a customer or has a job in a business, when looking into a company and seeing the steps and procedures a business does whether it be externally interacting, or in the books , I can now see how every decision either the customer takes or the business does affects different aspects of the businesses accounts. The accounting topics covered are the Accounting Cycle; the steps that account for recording all types of transactions in the books. Merchandising Operations; involve the inventorial decisions businesses make on the daily basis and the tracking of inventory. Internal Cash and Control; is the safeguarding of cash, efficiency of operations and reliability of the books. Receivables; the promises of payments on account, the advantages of getting paid or risks of not getting paid in the future. Plant Assets, Natural Resources and Intagibles;… .

Skill-set of today’s management accounting are as follows: communication, planning, risk, analysis and strategy. Communication is vital as it is used to explain quantitative information to non-financial managers. For planning and budget; accounting technique is applied. Risk is managed and identified. Business strategy is formulated to create value and