The Management Of A Business Organization

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TOPIC 2 The management accountant plays a number of key roles in: (a) Assisting an organization achieve its objectives; and, (b) making sure that the organization is ethical in its pursuit of those aims. Discuss this statement within the context of each of the following types of organization. • A business organization that is a manufacturer; and, • A not-for-profit organization, such as a charity.
In each case, ensure that you provide illustrations of how the management accountant can contribute to ensuring that organizational objectives are achieved and ethical integrity retained. “Managerial Accounting is a profession that includes partnering in management decision making, devising planning and performance management systems, and…show more content…
Productivity is utilized and resources are not wasted on projects with little chance of success. Establishing Goals Setting goals that challenge everyone in the organization to try for improved function is one of the key attributes of the planning process. The goal setting process can be wake-up call for managers that have become complacent. The other benefit of goal setting comes when forecast results are compared to actual results. Managing Risk and Uncertainty Managing risk is essential to an organization’s victory. Even the largest corporations cannot control the economic and competitive environment around them. Planning encourages the development of “what-if” scenarios, where managers attempt to envision possible risk factors and grow contingency plans to deal with them. Team Building Planning promotes team building and a spirit of cooperation. When the plan is completed and communicated to members of the organization, everyone knows their responsibilities are, and how other areas of the organization need their assistance and expertise in order to complete assigned tasks. ORGANIZING The second function of the management is getting prepared and getting systematic. The management must establish all its resources beforehand, to monitor the course of action which is obvious during the planning process. While shaping the hierarchy of the organization, managers must look at the necessities of different divisions or
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