An Interface Between Financial Accounting and Cost ...

Introduction: The basic objective of accounting is to provide information that is useful in making business and economic decisions. What makes accounting information useful for decision-making? The answer is however the accounting information confirms to the qualities that should be possessed by the financial and cost Managerial reporting. In view and addition to this, the importance of strategic cost management and costing techniques like Activity based costing should not be underestimated. This implies that organization should be installing appropriate framework of strategic cost management to reduce its costs in key areas on which the success of organization is heavily dependent. Objective of the study: The Project is presented with†¦show more content†¦It is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company. In a Nutshell, it is primarily for external purposes. âÅ"“ Cost management accounting serves the following purposes: The purpose of Cost Management accounting is to enable management to get as for as possible the exact cost of goods manufactured or services rendered, to furnish necessary facts and figures for adequate and effective managerial control and to provide management data necessary to determine output and products that will result in most profitable operations. The purpose of cost accounting is to assess the profitability of a product or services, a department or the organization. In a Nutshell, it is primarily for internal purposes. 3. Stock Valuation Principles: In financial accounting, stock or inventory is valued at cost or net realizable value (NRV) whichever is lower while in Cost accounting, inventory is valued at Cost. 4. Regulation: Financial Accountants follow GAAP (generally accepted accounting principles) set by professional bodies in each country, accounting concepts (as laid down by the Accounting Standards Board) plus statutory requirements of the Companies Acts. While in Cost management accounting it is tailored to suit the needs of the users or may follow CAS. and Standardization: Accounting standards of financial accounting is issued by the Institute of chartered accountants of IndiaShow MoreRelatedStrategic Management Accounting13457 Words   |  54 Pagesof this journal is available at www.emeraldinsight.com/0951-3574.htm AAAJ 21,2 Strategic management accounting: how far have we come in 25 years? Kim Langï ¬ eld-Smith Monash University, Melbourne, Australia Abstract Purpose – The purpose of this paper is to provide a review of the origins of strategic management accounting and to assess the extent of adoption and â€Å"success† of strategic management accounting (SMA). 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During the annual strategic planning meeting of the management committee, held recently in Calgary, all of the committee members were pleased to see thatRead MoreNature of Financial Management4832 Words   |  20 PagesChapter 3 - NATURE OF FINANCIAL MANAGEMENT What is finance Finance can be defined as he art and science of managing money. Virtually all individuals and organizations earn or raise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among individuals, business and governments. Nature of Financial Management Financial Management as an academic discipline has undergone fundamental changes as regard

A Critique on The Sociopath Next Door - 888 Words

Down the street, in our workplaces, seemingly under our beds- Harvard Medical Professor Martha Stout’s Sociopath Next Door: The Ruthless vs. The Rest of Us sends the reader into a state of frightful paranoia when she mentions that a staggering 1 in 25, 4%, persons is, in fact, a sociopath. A sociopath, as Stout asserts, is a person with the lack of a conscience, thus a person not concerned with the suffering of others, to worry only about itself. She goes on to tell us that, because the rate of sociopaths in our society is so high, we must have already met hundreds without knowing it, due to the elusive and enigmatic nature of this psychological disease. However, a rational thinker can clearly see the flaws in the conceptions†¦show more content†¦Moving on, any skeptic reading this book would surely have a plethora of questions for the professor. How, exactly, does one come up with the statistic of 1/25 in regards to the ratio of sociopaths to â€Å"normal people?â⠂¬  This question is rather baffling because, in the book, Stout states that there are many sociopaths which feign emotion for the sole purpose of progressing in life. How, then, do these people, faking a conscious, admit themselves to being a full-fledged sociopath when they have been lying to themselves and others around them for the bulk of their lives? Stout either did not factor these individuals into her statistical evaluation, which would mean a great number more of sociopaths than perceived through this book, or that Stout, with this knowledge, made a conjecture. In any case, especially in the latter, this statistic cannot be trusted and should therefore not be taken as hard fact. Another gaping problem in this book is the lack of perspective provided by Stout in regards to a true sociopath, one that admits they have not remorse, no conscience; one who only wants to win. It would have been an eye-opening experience to truly view the world through the eyes of a sociopath, w hich could have been accomplished through the course of a simple question and answer style interview. While this book is clearly not perfect, it does have its redeeming qualities. The simpleShow MoreRelatedOrganisational Theory230255 Words   |  922 Pagespostmodernism anything new? The history Post-industrialism and the information society The virtual organization Neo-fordism, flexible specialization and post-fordism The regulation school Institutionalist school The ‘managerialist’ school The flexible firm – critique Postmodern organizations – the work of Stewart Clegg and Paul Heydebrand Conclusions 198 198 200 202 205 206 211 213 215 217 220 225 227 234 Chapter 6 Postmodernism as a philosophy: the ultimate challenge to organization theory? Introduction

Comparison of Robert Frosts tree Essay Example For Students

Comparison of Robert Frosts tree Essay But as to what the source of that limitation is, not much is apparent. With regard to The Sound of the Trees, another interesting thing about the poem is its sudden shift in point of view, as Frost switches from I to We in the 2nd and 6th lines of his poem upon mentioning bearing and suffering, obviously two words with similar, negative connotations. In these lines, Frost questions us as to why we desire to listen to such a disturbing noise. Here, Frost humanizes the trees-as he did repeatedly in Tree at my Window-as being that that talks of going but never gets away. Going back to the point about the narrators portent of death towards the end of the poem, the aforementioned line may be the point in which the narrator talks of going to death but never in fact manages to do so. Subsequently, Frost writes, And that talks no less for knowing as it grows wiser and older, that now it means to stay. As the trees grow wiser, they also need to realize that they are rooted to the spot and are, therefore, not able to leave the place; however, they keep making the noise despite this irremovable limitation. Clearly, this is another line that reaffirms the trees role as a metaphorical leitmotif, not an object to be taken literally. Going back to the Tree at my Window, there is something to be noted about the role window plays in this poem. It is apparent that the narrator has created a semi-imaginary and semi-authentic field of vision for himself-using the window as a frame-through which he associates the gently swaying leaves with diffuse clouds and the rustling sound of the leaves with the light tongues talking aloud (lines 6-7). Meanwhile, Frost does not cease to incorporate words with long, complaisant vowels, and thus the notion of fragility and serenity continues to permeate the poem. Though the tiny facet of nature that is visible through the window frame may seem delicate, and perhaps even fragile, its freedom and maneuverability are definitely envied by the narrator. And with these evidences, the role of the window becomes clearer: it is a human construct that represents neither the control and constraint man has placed upon nature nor the struggle between man and nature, but the very constraint that man places upon himself, or in this case the narrator. In short, this poem is about the profoundand perhaps spiritualpsychic experience of the narrator. The enclosed rhyme (abba rhyme) that is apparent in each stanza is a structural representation of the human spirit that desires freedom. With regard to Tree at my Window, the most interesting lines are the last four. Whereas the tree is most concerned with the stormy or capricious weather conditions, Frost is most concerned with the weather, or thoughts, in his head. The tension between the nature and man comes to an end when, as Frost writes, she put our heads together. Its not perfectly clear to what or to whom she is referring; however, clearly, this line is a reflection of Frosts ambiguous feelings. Frost sees in nature, namely in the tree, mans relation to the world. He realizes, basically, our place in the universe, and what it truly means to be a human. In fact, the remoteness of nature-and how its partially covered by the lowered sash-reveals the tragedy of the narrators solitude, and his relative insignificance in the face of vast forces, such as the diffuse cloud. .u8236fa195f340d8d90cdee2ca422e4b4 , .u8236fa195f340d8d90cdee2ca422e4b4 .postImageUrl , .u8236fa195f340d8d90cdee2ca422e4b4 .centered-text-area { min-height: 80px; position: relative; } .u8236fa195f340d8d90cdee2ca422e4b4 , .u8236fa195f340d8d90cdee2ca422e4b4:hover , .u8236fa195f340d8d90cdee2ca422e4b4:visited , .u8236fa195f340d8d90cdee2ca422e4b4:active { border:0!important; } .u8236fa195f340d8d90cdee2ca422e4b4 .clearfix:after { content: ""; display: table; clear: both; } .u8236fa195f340d8d90cdee2ca422e4b4 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8236fa195f340d8d90cdee2ca422e4b4:active , .u8236fa195f340d8d90cdee2ca422e4b4:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8236fa195f340d8d90cdee2ca422e4b4 .centered-text-area { width: 100%; position: relative ; } .u8236fa195f340d8d90cdee2ca422e4b4 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8236fa195f340d8d90cdee2ca422e4b4 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8236fa195f340d8d90cdee2ca422e4b4 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8236fa195f340d8d90cdee2ca422e4b4:hover .ctaButton { background-color: #34495E!important; } .u8236fa195f340d8d90cdee2ca422e4b4 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8236fa195f340d8d90cdee2ca422e4b4 .u8236fa195f340d8d90cdee2ca422e4b4-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8236fa195f340d8d90cdee2ca422e4b4:after { content: ""; display: block; clear: both; } READ: Lotus in the Poetry of Tang Dynasty Essay To Frost, nature is obviously appealing, but its also partially dangerous. It is the mirror of the human world that reflects our blemishes as manifestly our worlds beauty. In conclusion, the most fundamental common ground between the two Robert Frost poems seems to be Frosts ambivalence towards nature, and in this case, trees.