Issues of Managerial Accounting

Management accounting is for commercial finance, analyzing past performance and projecting future results aiding in the commercial decision-making. This department defines and measures key targets needed to achieve for McDonald’s business strategy to be successful (McDonald’s Corporation, 2008).

Leaders can effectively translate intention into reality by acting on the concepts and messages they teach and the things they say to those around them. Leadership is the act of setting the right example for those who follow. Leadership is about actively demonstrating your belief, not just talking about it. People who say one thing but do another eventually lose credibility

 Managerial accounting is defined as the activities carried out in a firm to provide its managers and other employees with financial and related information to help them make strategic, organizational, and operational decisions.

"Honesty is the best policy". Trust is the cornerstone of honesty. You must be truthful and transparent. Your truthfulness should begin within you. "To thine own self be true" as stated by William Shakespeare. If you are truthful with yourself it is not difficult to be truthful with others. Being honest is stating the complete truth and not stating a part of it.

Our text defines leadership as “the ability to formulate a worthy vision and inspire people to make a total, willing, and voluntary commitment to accomplishing or exceeding organizational goals” (Goetsch, 2016). Let’s start with the first element, creating a

There are three separate dimensions to organizational commitment: 1. Affective commitment is an emotional attachment to the organization and a belief in its values. For example, a Petco employee may be affectively committed to the company because of its involvement with animals. 2. Continuance commitment is the perceived economic value of remaining with an organization. An employee may be committed to an employer because she is paid well and feels it would hurt her family to quit. 3. Normative commitment is an obligation to remain with the organization for moral or ethical reasons. An employee spearheading a new initiative may remain with an employer because he feels he would “leave the employer in the lurch” if he left." (Robbins & Judge, 2011, p 77)

In developing this idea of what leadership is, I examined what was most important to me in being a leader. Since leadership is such a broad term, this could not be a process whereby I could generalize leadership for everyone. Rather, the task is to determine who I am as a leader. I asked myself, what is it that shapes the vision? What are the factors that comprise a leader, and what makes these things add up to create something larger than ourselves as leaders? Thoughtful reflections on these things lead me to generate the following definition of leadership: Leadership is about more than simply having followers; it is not a title, and it is not achieved by just following a few principles. Leadership is complex, though at its

Leadership is about creating a vision for that function and gaining peoples commitment by strategic direction.

Organizational commitment is one of the two individual outcomes derived from individual mechanisms like job satisfaction, stress, motivation, trust, justice, ethics, and learning and decision making. These mechanisms and outcomes can be found on the integrative model of organizational behavior (OB). Colquitt, LePine, and Wesson defined organizational commitment in their Organizational Behavior 5th Edition book as the desire of an employee to remain a member of the organization (p 64).

Company operates in the Industrial Sector – Services, and Industry – Regional Airlines. According to the Standard Industrial Classification System (SIC), company belongs to the industry group 451: Air

Feedback: Management accounting is the preparation and use of accounting information systems to achieve the organization's objectives by supporting decision makers inside the enterprise. LO 4

Over the years, a great deal of time, and research has been dedicate to the study of leadership. Even with extensive data on the topic, many still disagree on what leadership really means. Hence, leadership is a word that has many different meanings and different researched theories associated with it. On a basic level, leadership involves having and establishing a clear vision, sharing that vision with followers, respecting followers, and leading an organization with excellence while ensuring that everyone is part of the team. Leadership is also a method by which a leader uses his or her influence towards getting a group of followers to take ownership or buy into a vision.

The first impression of the course managerial accounting for managers was that it would involve learning how to manage operations of a firm, especially in relation to its financial records and activities to ensure efficient and successful operation of a firm. I expected to learn how to deal with the final financial records and using them to perform an analysis of the records which will help to make informed decisions. It would also involve learning how to deal with the accounting records to make effective budget plans in considerations of resources available. My expectations of the course

According to Will S, Ray H, & Eric E.N. (2009), management accounting is a branch of accounting that is concerned with providing information to managers who direct and control the firm’s operations. Management directing function seeks to effectively use both the human and raw material wealth of a firm to achieve organizational set objectives on routine basis. Controlling function is the art of tele-guarding the activities of the organization to consistently fall in line with set objectives. Management accounting achieves this function through effective budgeting.

Strategic Management—Advancing the role of the management accountant as a strategic partner in the organization.