Responsibility Accounting

The Importance of Accountability is so my chain of command knows where everyone is so if they need a soldier for something they will know where to find them. It is also necessary to have accountability to make sure everyone in my class, platoon, or unit is safe and to make sure they are where they are supposed to be.

The budgets process could help to spread resoursces that increase the skill to get best outcome.

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

This research paper is a brief discussion of budget management analysis. Budgeting is the key to financial management, and is the key to translates an organization goals or plan into money. Budgeting is a rough estimate of how much a company will need to get their work done, and provides the basis for evaluating performance, a source of motivation, coordinating business activities, a tool for management communication and instructions to employees. Without a budget an organization would be like a driver, driving blinded without instructions or any sense of direction, that’s how important a budget is to every organization and individual likewise (Clark, 2005).

The business planning is essential to achieve the targets but it should be within our planning resources, so the budgeting comes up to give the effective shape to the organization planning and success.

In the healthcare industry accountability displays responsibility, honesty, and hard work. Employer’s count on employees to display these duties everyday in order to have an productive organization accountability must be instilled within every employee. Throughout the healthcare field there are several patients that need attention employees must be able to provide this as well as take responsibility for their mistakes which often happens when working in healthcare. This paper will discuss a few points about accountability such as the importance of accountability in healthcare, how are employees

Management must ensure control over each objective by maintaining and ensuring that performance does not veer away from standard. “Controlling consists of three steps, which include (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary” (Web Books Publishing, 2010, para. 17). Performance measurement can be done in several different ways. There may be the use of financial statements, performance appraisals, customer satisfaction reports, or sales and production results. Two control techniques also

Accountability refers to the perception of holding an individual responsible for his or her decisions or actions. Accountability standards and accountability are integral components in the every industry especially health care discipline. Organizations desiring to succeed in whichever industry must always establish structures that encourage employees to be accountable. This study shows that accountability in the healthcare industry is not a matter of choice but something that must be observed at all times. This may act a form of encouraging and motivating employees at the workplace.

The next lever, the management control process, consists of four sections. The first of these is programming, which must come from strategy and be monitored to remain consistent with the firm’s objectives. The second process is budgeting, which need to fit with strategy formulation and programming. The last two of the four sections is measuring and reporting. These two sections focus on the “need for activities that measure and report both financial and nonfinancial information” . The measuring and reporting of a firm’s management control can be related to budget information and the motivation process. What a firm spends to drive motivation, and the amount of motivation that comes from it, can create contrasting cultures that needs information to why that is the result. Since this lever can be manipulated quickly, it is one that managers should focus on.

The company has to be able judge its spending performance. Does not matter what type of company it is, the ability to measure performance using budgets is an important process in any business organisation. Planning helps to understand where business is at present and where it is going to be in the future. Company’s planning process has to involve different developing objectives and prepare

An effective business strategy and budgeting is very essential in a manufacturing industry. A company without a proper business strategy and master budgeting plan would usually faces tremendous challenges and losses during its business operations. The importance of company’s business strategies and budgeting plans, as well as the challenges and losses in the absence of these items has clearly presented in this case study. (“Wiley,” 2013)

The concept is illustrated in Figure 1.The profit plan and second-year forecast are used to control the business and evaluated mangers in respective of “planning, forecasts, and achievement”. Under these plans, managers can prompt find problems by reviewing the budget on three occasions, comparing the variances between real number and estimated number, and correcting the errors in order to achieve the long term target. Managers can perceive and understand how and why their estimates have changed over time; consequently, they will control themselves to meet their long-term targets on their own initiative.

Planning also helps in the coordination of activities between different departments within the organisation, as the tasks are clearly

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.

5. The success of budgetary control depends upon the support of the top management. If there is lack of support from top management, then this will