RESPONSIBILITY ACCOUNTING Management Accounting - Responsibility Accounting Planning & control are essential for achieving good results in any business. Firstly‚ a budget is prepared and‚ secondly‚ actual results are compared with budgeted ones. Any difference is made responsibility of the key individuals who were involved in (i) setting standards‚ (ii) given necessary resources and (iii) powers to use them. In order to streamline the process‚ the entire organization is broken into various
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ROLE OF RESPONSIBILITY ACCOUNTING IN FOSTERING GOAL CONGRUENCE RATIONALE: It is impossible for top managers to make all the necessary decisions about everything except in very small organizations. Somehow at some point he has to delegate some decisions to those who are at the lower levels and are more knowledgeable to the everyday detail of the company’s operation. By empowering lower level managers to make decisions‚ decision-making authority is spread throughout the organization rather
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Budget and Responsibility Accounting Budget Meaning Budget is a financial and/or quantitative statement‚ prepared and approved prior to a defined period of time‚ of the policy to be pursued during that period for the purpose of attaining a given objective. * CIMA Official Terminology It is a plan quantified in monetary terms‚ prepared and approved prior to a defined period of time‚ usually showing planned income to be generated and/or expenditure to be incurred during that period
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Ethical Issues that Surround the Welfare System Daniel Pexton SOC 120 Instructor: Sherri Boyd May 11‚ 2012 Ethical Issues that Surround the Welfare System In the last 15 years the welfare system has gone from a government run system‚ to a state run function. This actually promotes a better welfare system that is in favor of all who are involved‚ including the tax payers whom ultimately fund it. Creating a program that helps prevent drug use while on welfare‚ and promoting families to find
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Entities within Australia will have the choice as to whether or not they choose to meet the requirements detailed in accounting standards. (b) The number of options within IFRS-adopted accounting standards is expected to be restricted‚ although compliance with the AASB standard will mean compliance with the IASB standard. (c) The number of options within IFRS-adopted accounting standards is expected to be restricted‚ which means that compliance with the AASB standard will not automatically mean
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ISSUES IN ACCOUNTING EDUCATION Vol. 26‚ No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case‚ two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP)‚ each manager makes different choices and estimates when applying GAAP. By preparing
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BENEFITS OF RESPONSIBILITY ACCOUNTING ANSWER 1 1) Better System of Control It enables the management to management to delegate authority to responsibility centres while remaining overall control with itself. 2) Decentralization of Decision Making It forces the management to consider the organisational structure to result in effective delegation of authority and placement of responsibility.So it will compel individual manager to take right decision. 3) Comparison of Performance It
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"What is responsibility accounting? Is it used at your current (or former) place of employment‚ and if not‚ would it work? Why‚ or why not?" According to allbusiness.com‚ responsibility accounting is defined as a “collection‚ summarization‚ and reporting of financial information about various decision centers (responsibility centers) throughout an organization” (allbusiness.com). The article also explains that responsibility accounting helps an organization trace costs‚ revenues and profits to
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Behavioral Health is a very important topic in the United States and other parts of the world. In my eyes it is important that people know the signs of behavioral health issues and know where they can get help. Often people with these issues feel ashamed and do not reach out for help. This can lead them to doing other things that might cause harm to themselves or others. Currently‚ I’m working on a masters in Sociology. In my program‚ we study society‚ especially human behavior. Recently‚ in one
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BEHAVIORAL HEALTH COUNSELOR ROLES AND RESPONSIBILITIES Useful Traits Of Primary Care Behavioral Health Counselors Behavioral health counselors must be able to function in the face-paced primary care environment. To be effective‚ they should: * be flexible enough to deal with noise‚ frequent interruptions‚ and constant changes in scheduling; * be able to offer brief‚ targeted interventions usually lasting less than 30 minutes; * be comfortable with short-term counseling‚ often lasting
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