Acquisitions Postacquisition Performance - Myassignmenthelp.Com

Question: Talk About The Acquisitions Postacquisition Performance? Answer: Introducation Debilitation tests are a basic procedure that is embraced by each corporate substance so as to ensure that the benefits have not been downplayed or exaggerated. The specific issue that the associations face is the recognizable proof of the advantages that should be impeded. In any case, the bookkeeping guidelines and techniques list down the benefits that don't require the disability test. These inventories, conceded charge resources and non-current resources are held for deals. This specific investigation is pointed towards the recognizable proof of the issues with respect to when to embrace a debilitation test (Saastamoinen and Pajunen 2016). The procedure of hindrance alludes to the un-assessed or the unforeseen decrease in the utility of an advantage with respect to the administration gave by the specific resource. Weakness is not the same as devaluation as deterioration alludes to the arranged decrease in the estimation of the benefit. The extent of weakness likewise incorporates the demonstration of oldness of the advantages because of development of the mechanical usage in the firm or adjustments in the enactment (Bond, Govendir and Wells 2016). The Australian Accounting Standards Board in AASB 136 notices the circumstances that prompts the hindrance of a specific resource. A benefit is hindered when the conveying measure of that specific resource is more than the recoverable sum. The Australian Accounting Standards Board makes it mandatory for the substances to discover the way that whether there are any signs for the impedance of the advantages at each announcing date. In the presence of such a sign, the recoverable measure of the specific resource must be resolved (Saastamoinen and Pajunen 2016). In addition, the impalpable resource of generosity that has been procured because of the business mix, must be tried for debilitation every year Moreover, the substance likewise needs to test an impalpable resource with uncertain helpful life for debilitation disregarding the nonappearance of a sign (Bond, Govendir and Wells 2016). Subsequently, it has been obvious from the conversation in the previous sections that the advantages that must be tried yearly for hindrance are as per the following: Resources that show signs concerning the impedance tests Elusive resources that have an inconclusive life Altruism that has been obtained because of business blend The markers with respect to the debilitation of a benefit that have been expressed in the bookkeeping standards gave by AASB 136 have been isolated into two sources specifically outside sources and inward sources. The outside sources that are treated as pointers for debilitation of an advantage are as per the following: The fall in the market estimation of the advantages is an expected sign for execution of the weakness trial of the benefits. This may be because of the improvement in the mechanical usage inside the firm (Boennen and Glaum 2014) The progressions that are antagonistic in nature with respect to the earth or market in which the element works. This may be clarified by the solitary case of a contender firm that has procured the patent of another item that outcomes in the fall in the piece of the overall industry of the substance (Boennen and Glaum 2014) The expansion in the paces of intrigue additionally prompts the impedance of the benefits (Yao, Percy and Hu 2015). The capitalization of the market may be a likely marker of advantage disability (Yao, Percy and Hu 2015) The interior wellsprings of potential markers include: The physical harm or outdated nature of a specific resource may be a potential indictor for the hindrance of the benefit The adjustment in the use of the advantage The monetary exhibition by a specific resource being more regrettable than evaluated The methodology for the disability test for an individual resource can be directed by the assurance of the recoverable sum. The recoverable sum is higher of the two budgetary segments of reasonable estimation of the advantage and the incentive being used of that benefit (Su and Wells 2015). To be increasingly exact, the correlation between the recoverable sum and the conveying measure of the benefit is drawn. On the off chance that the recoverable sum is more than the conveying sum, at that point the benefit has perpetually finished the debilitation assessment. Then again, in the event that the recoverable sum is not exactly the conveying sum, at that point the impedance test has brought about a misfortune. The assurance of the reasonable estimation of a specific resource can be done by discovering the worth progression (Su and Wells 2015). The incentive being used of a specific resource alludes to the current estimation of things to come incomes that is evaluated to be acquired from the specific resource. The components that are to be thought of while deciding the incentive being used of the benefit are the estimation of things to come incomes, evaluated varieties later on incomes, the time estimation of cash and the related hazard. The addendum of the AASB 136 records down the two methodologies for deciding the incentive being used are customary methodology and the normal income approach. The paces of markdown that is utilized in deciding the incentive being used of a specific resource ought to constantly mirror the time estimation of cash and the dangers corresponding to the specific resource for which the future incomes have not been balanced (Linnenluecke caes et al., 2015). The disability test for a specific resource that outcomes in a misfortune is perceived by the sum is less that the conveying measure of that specific resource concerning the recoverable measure of that advantage. The disability misfortune, as indicated by AASB 136 ought to be promptly perceived in the salary articulation or the benefit or misfortune explanation of the organization. Besides, the sum that has been processed as a hindrance misfortune that surpasses the conveying measure of the benefit should possibly be recorded as a risk on the off chance that it is required by another AASB standard. Post the acknowledgment of the weakness misfortune, the deterioration or the amortization sum likewise must be balanced later on periods for the allotment of the overhauled conveying measure of the advantage (Linnenluecke caes et al., 2015). References Boennen, S. also, Glaum, M., 2014. Generosity bookkeeping: A survey of the writing. Bond, D., Govendir, B. also, Wells, P., 2016. An assessment of benefit debilitations by Australian firms and whether they were affected by AASB 136. Bookkeeping Finance, 56(1), pp.259-288. Bugeja, M. also, Loyeung, A., 2015. What drives the allotment of the price tag to generosity?. Diary of Contemporary Accounting Economics, 11(3), pp.245-261. Linnenluecke, M.K., Birt, J., Lyon, J. furthermore, Sidhu, B.K., 2015. Planetary limits: suggestions for resource hindrance. Bookkeeping Finance, 55(4), pp.911-929. Saastamoinen, J. furthermore, Pajunen, K., 2016. The executives attentiveness and the job of the financial exchange in altruism debilitation choices proof from Finland. Worldwide Journal of Managerial and Financial Accounting, 8(2), pp.172-195. Su, W.H. furthermore, Wells, P., 2015. The relationship of recognizable immaterial resources obtained and perceived in business acquisitions with postacquisition firm execution. Bookkeeping Finance, 55(4), pp.1171-1199. Yao, D.F.T., Percy, M. what's more, Hu, F., 2015. Reasonable worth representing non-current resources and review charges: Evidence from Australian organizations. Diary of Contemporary Accounting Economics, 11(1), pp.31-45. Yao, D.F.T., Percy, M. what's more, Hu, F., 2015. Diary of Contemporary Accounting Economics. Diary of Contemporary Accounting Economics, 11, pp.31-45.

College Student free essay sample

Hot RB/Hip-Hop Songs outlines, which was his most well known melody up until now. The motivation behind why I picked KID Cud is on the grounds that I can identify with the greater part of his music. I Like his smooth and smooth words and rhymes. I incline toward his music over different craftsmen out there in light of the fact that I am not a devotee of the energetic hip-jump. With his sort of music I can unwind, close my eyes and tune in. Child Cuds music Is Influenced by a wide range of kinds. For Instance as a child growing up he tuned in to Pink Floyd and furthermore some shopping center elective hip bounce groups, for example, The Pharmacy and A Tribe called Quest. Im a KID Cud fan since I like his laid back and smooth music. He is known to compose hallucinogenic music and publicize the utilization of illicit substances through a large portion of his tunes. His music is alleviating to me and ideal to unwind to. We will compose a custom exposition test on Undergrad or then again any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Quest for joy music video http://www. Youth. Com/watch? V=7xzU9Qqdqww Sources: http://www. Ancient rarities. Com/detail. PH? Old=1855 http://en. Strolled. Organization/will/SLD_Cud

Reflections and Decisions

Reflections and Decisions I’m officially on winter break. It’s hard to believe that the craziness of the semester is already over, that I have completed my finals and turned in all my papers. I wrote this entry from the airplane on the way home, heading away from the bubble of MIT towards the place I grew up. I had a realization the other day that Cambridge is my home. I will always hold a place in my heart for Colorado, and I will be comfortable where ever my parents are, but my home right now is definitely MIT. I’m not sure it has been that way for the past two and a half years, but it is now. It is where I am the person I want to be. Even though I have been at MIT for only two and a half years of my life, compared to the seventeen I spent in Colorado, the experiences I have had here and the people I have met have shaped who I am and where I want to go. I have heard many, many times that college is where you will find yourself, but I don’t know if I really believed it until recently, but it seems that every time I take the time to reflect back on who I am, what I have done and where I am going, the who I am bit seems to change, even if only slightly. You just received your decisions from MIT, and you may feel like the decision you were granted will define the rest of your life. If you got in, I offer you my congratulations. Welcome to the most stressful four years of your life. It will be the most stressful but the most amazing if you take advantage of all the opportunities available to you. If you were deferred, don’t fret yet. Make sure to finish your other applications, find where else you could succeed and be happy and the opportunity for MIT will come again in a couple of months. If you didn’t get the answer you are looking for, don’t think about the school defining who you will become. You don’t grow, change and find yourself based on the name on the sweatshirt you wear, or what will eventually be on your diploma. You grow based on the experiences you have and the challenges you overcome. While MIT is an experience in itself, I have learned the most about myself during the times I have been away from MIT, and from the people I have the opportunity to interact with. No matter where you end up, be sure to take advantage of every opportunity given to you to travel and meet new people. Go outside of your comfort zone, whether it is trying a new activity, or travelling halfway around the world. You need to challenge yourself in order to grow. There will be ample opportunity for other people to pay for you to try the things you have always wanted to do, so take advantage of them. College is probably the only time you are unencumbered by significant responsibility and the only time you can really change your mind on a whim. Don’t feel tied into any decision, and don’t feel like you can’t change your mind. On that note, enjoy your break, finish up your remaining applications, and don’t stress too much about decisions. No matter where you will end up, you will find the experience you are looking for if you seek it out.

Reflections and Decisions

Reflections and Decisions I’m officially on winter break. It’s hard to believe that the craziness of the semester is already over, that I have completed my finals and turned in all my papers. I wrote this entry from the airplane on the way home, heading away from the bubble of MIT towards the place I grew up. I had a realization the other day that Cambridge is my home. I will always hold a place in my heart for Colorado, and I will be comfortable where ever my parents are, but my home right now is definitely MIT. I’m not sure it has been that way for the past two and a half years, but it is now. It is where I am the person I want to be. Even though I have been at MIT for only two and a half years of my life, compared to the seventeen I spent in Colorado, the experiences I have had here and the people I have met have shaped who I am and where I want to go. I have heard many, many times that college is where you will find yourself, but I don’t know if I really believed it until recently, but it seems that every time I take the time to reflect back on who I am, what I have done and where I am going, the who I am bit seems to change, even if only slightly. You just received your decisions from MIT, and you may feel like the decision you were granted will define the rest of your life. If you got in, I offer you my congratulations. Welcome to the most stressful four years of your life. It will be the most stressful but the most amazing if you take advantage of all the opportunities available to you. If you were deferred, don’t fret yet. Make sure to finish your other applications, find where else you could succeed and be happy and the opportunity for MIT will come again in a couple of months. If you didn’t get the answer you are looking for, don’t think about the school defining who you will become. You don’t grow, change and find yourself based on the name on the sweatshirt you wear, or what will eventually be on your diploma. You grow based on the experiences you have and the challenges you overcome. While MIT is an experience in itself, I have learned the most about myself during the times I have been away from MIT, and from the people I have the opportunity to interact with. No matter where you end up, be sure to take advantage of every opportunity given to you to travel and meet new people. Go outside of your comfort zone, whether it is trying a new activity, or travelling halfway around the world. You need to challenge yourself in order to grow. There will be ample opportunity for other people to pay for you to try the things you have always wanted to do, so take advantage of them. College is probably the only time you are unencumbered by significant responsibility and the only time you can really change your mind on a whim. Don’t feel tied into any decision, and don’t feel like you can’t change your mind. On that note, enjoy your break, finish up your remaining applications, and don’t stress too much about decisions. No matter where you will end up, you will find the experience you are looking for if you seek it out.

Advanced Finance and Decision Makers - Free Essay Example

Sample details Pages: 8 Words: 2480 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Advanced Finance and Decision Makers Table of Contents Introduction Therelationshipbetweenfinancialanalysisandbusinessriskassessmentindecision-making ThepurposeandstructureoffinancialstatementsinrelationtodecisionÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ making Sourcesoffinanceforshortandlongtermbusinessdecisions Waysinwhichdifferentownershipstructuresinfluencethemeasurementoffinancial performance Importance of ethical, governance and accounting standards in financial reporting business decision making Case Study Application Conclusion References . Don’t waste time! Our writers will create an original "Advanced Finance and Decision Makers" essay for you Create order Introduction: Finance has become one of the major functional departments in an organization. Every organization, irrespective of its size and industry in which it operates, will prepare financial statements to report the financial information. This assignment focuses on evaluating the important aspects of the finance and financial statements of the organization. This research paper focuses on analysing the relationship between the business risk involved in an organization and the financial analysis that a financial manager carries out every year. The paper also identifies the financial sources available for both short-term and long-term business decisions. In addition to that, the paper focuses on analysing the influence of various ownership structures on the measurement of the financial performance and role on ethical, governance and accounting standards in financial reporting. Therelationshipbetweenfinancialanalysisandbusinessriskassessmentindecision-making: It is important for the managers to very frequently analyse the business risks and implement the risk mitigation techniques. The business risk can be in many forms. Some of the major risks that put the organization into trouble are operational risk, financial risk and solvency risk etcetera (Fruhan, 1979). Normally, the financial managers will try to conduct the financial analysis to identify the risks that the organization has been facing in current business environment. In simple terms, the financial analysis helps the financial manager to evaluate the profitability, solvency and stability levels of the organization in a particular financial year. By analysing the profitability, the financial manager can easily recognize the ability of the organization to make profits and the capability to gain the retained earnings for future investments. If the profitability analysis makes it clear that the organization is making good profits, it can be concluded that the organization is not suffering from any kind of financial risk and vice versa. If the business manager does not analyse the profitability of the organization before taking important decisions such as procuring advanced technologies or hiring additional employees, it might suffer due to financial risk (Streuly, 1994). In the same manner, the financial manager can also identify if the organization is suffering from the operational risk or not. The operational risk occurs when the organization is unable to clear the short-term obligations such as office rent, employee salaries and administrative expenses etc. (Streuly, 1994). If the financial manager identifies the impending operational risk, he or she will take right decisions such as controlling the operational expenses or changing the credit terms in such a way that the organization receives money from the customers quickly. Finally, it is important for the financial managers to regular check if the organization has been maintaining right kinds o f assets to clear the long-term obligations to avoid the solvency risk. Yes, the inability of the organization to clear the long-term obligations might lead to solvency risk which ultimately make the organizations insolvent and go bankruptcy (Williams et al, 2008). By conducting the financial analysis, the business manager can identify the solvency risk and make appropriate decisions to reduce the same. Thus, one can conclude that the financial manager should carry out financial analysis to identify risks for effective decision making. The  purpose  and  structure  of  financial  statements  in  relation  to  decision  Ãƒâ€šÃ‚ making: Generally, every organization will prepare three financial statements to report the financial information of the organization to important stakeholders. The first important financial statement is balance sheet, which is also known as statement of financial position (Williams et al, 2008). With the help of the information provided in the balance sheet, the stakeholders would be able to understand the financial position of the organization in a particular financial year. Normally, balance sheet contains information about assets, liabilities and ownerà ¢Ã¢â€š ¬Ã¢â€ž ¢s equity (Al-Ajmi, 2007). The concerned persons can compare the financial information provided in the balance sheet of current year with the previous year to understand the financial health of the organization. Income statement is another financial statement that provides information for decision making. The income statement provides information on net profit/net loss, operational profit, operational expenses, taxes a nd interest rates etc. (Streuly, 1994). With the help of the information provided in the income statement, stakeholders would be able to understand if the organization is enjoying the profit or suffering from losses. Another financial statement that is prepared in organizations is cash flow statement. This is used to see how changes in the financial statements will impact the cash the organization has in hand. The information reported in these financial statements would help all the stakeholders of the organization in important decision making (Fruhan, 1979). Different stakeholders will use the information provided in the financial statements for different purposes. For instance, the business managers will try to make use of the financial statements for making informed decisions. In the same way, investors would analyse financial statements to check if the organization has the ability to pay both long-term and short-term obligations. When it comes to regulatory bodies, they will try to analyse financial statements to check if they are prepared by following ethical principles and accounting standards (Williams et al, 2008). While preparing these financial statements, the accounting or financial managers will follow the accounting standards and ethical mechanisms etc. Though the structure of the financial statement varies from one type of organization to another organization or country to another country, all these organizations will provide similar kind of information (Foster, 1978). For instance, the private limited companies and public limited companies will report ownerà ¢Ã¢â€š ¬Ã¢â€ž ¢s equity because it has multiple stakeholders but the financial statements of sole proprietary and partnership organizations will not carry the column called à ¢Ã¢â€š ¬Ã‹Å"ownerà ¢Ã¢â€š ¬Ã¢â€ž ¢s equityà ¢Ã¢â€š ¬Ã¢â€ž ¢. Sources  of  finance  for  short  and  long  term  business  decisions: The sources of finance can be classified into two types. They are short-term financial sources and long-term financial sources (Al-Ajmi, 2007). The short-term financial sources would be used to finance the short-term business decisions. The business manager should be very careful in choosing the suitable financial source because an inappropriate financial source may increase the financial risk, operational risk and solvency risk for the organization. Thus, while choosing a financial source, the business manager should analyse its risk levels and capacity to generate the investment etc. (Fruhan, 1979). When it comes to the short-term financial sources, the business manager can choose sources such as personal savings, retained earnings and back loan. The personal savings are the money saved by the owners of the company. The business owners can use the personal savings to financial short-term business decisions such as procuring small-scale software applications and renting premise s etc. (Bierman, 1980). The best part of the personal savings is that the business owners might not feel the pressure of repaying the money. Moreover, the business owner can enjoy the complete control over revenues and operations. On the other hand, retained earnings are the earnings remained with the organization after clearing the short-term obligations. Since the retained earnings belong to the organization, the business owner can use it for short-term business decisions. The business owner can also approach banks to finance the short-term projects. When the business owner takes bank loan, he or she might feel the pressure of repaying the interest in regular intervals and principal on loan maturity date (Al-Ajmi, 2007). On the other hand, business owners can find numerous of long-term sources to finance the long-term business decisions. The sources such as venture capital, long-term bank loan, angel investment and Share Capital belong to the long-term financial sources categor y (Foster, 1978). The angel investment is the investment fund invested by an individual on the profitable projects or ventures. Since the money gathered from the angel investors can be huge, the business managers can use angel investments for long-term business decisions. Similarly, venture capital is the fund gathered from multiple individuals and maintained by the professional agency. These agencies would not only invest money on the business projects but also help the business owners in decision making. In most of the cases, the long-term business decisions need huge capital investment (Fruhan, 1979). At this juncture, the business manager can go ahead with offering shares of the organization to the public through Initial Public Offering. Ways  in  which  different  ownership  structures  influence  the  measurement  of  financial performance: Different types of organizations will measure the financial performance differently. This is majorly because of the changes in the ownership structures. In todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s corporate market, predominantly, there are five ownership structures. They are sole trading ownership structure, partnership organization, private limited organization, public limited organization and non-profit organization (Zane et al., 2004). With regards to the sole training ownership structure, the financial performance would be measured in terms of the profit made by the business owner. As there is very little bit of difference in between the net profit and gross profit for sole trading organizations, the net profit or gross profit are said to be the major measurements of financial performance. In the same way, the partnership ownership structure influences the measurement of the financial performance in terms of the gross profit wherein the profit is shared between the two partners. Since the effo rts kept in the partnership organization are more, the partners would want to measure the financial performance of the organization in terms of the turnover generated. On the other hand, the private limited organization is formed by minimum of two shareholders and maximum of 50 shareholders (Fruhan, 1979). Since all the stakeholders are concerned about the earnings of the organization and protect the money that they have invested in the organization, the primate limited structure would influence the measurement of financial performance in such a way to check in terms of the growth rates of the organization. Apparently, the higher are the growth rates of the organization, the better would be the share value of the organization. The same is in the case of the public limited structure too. Since there are more shareholders in public limited organization, the financial performance of the public limited company would be measured in terms of increase in the share value (Bierman, 1980). Finally, for non-profit organization, the profit would be measured in terms of the donations generated. Importance of ethical, governance and accounting standards in financial reporting business decision making: Today, business owners have been giving high important to ethical, governance and accounting standards while reporting the financial information. Normally, ethics would help the organization to guide the behaviour of the employees or the stakeholders for that matter. Similarly, the governance principles would emphasize on the organizations to follow the equal distribution procedures while treating the customers or employees (Foster, 1978). Finally, the accounting standards majorly emphasize on following specific pre-defined procedures to disclose the financial information about the organization. The ethical, governance and accounting standards would focus three important aspects of the financial reporting decision making. One of these three important aspects is long-term success of the organization (Foster, 1978). When the organization tries to be ethical and follow the governance/accounting standards, it might not make the stakeholders happy in the short-term but definitely exc els in the long-run. Numerous of the organizations have gone bankrupt just because of not following the ethical, governance and accounting standards while reporting the financial information. Some of the best examples for such organizations are Enron, Lehman Brothers and Morgan Stanley. The second important aspect is that the organizations can easily avoid the business risk by following ethical, governance and accounting standards. Since the accounting standards and governance principles demand employees to follow the right code of conducts, they will stay away from the illegal or non-ethical activities such as price fixing which automatically leads to business risk (Bierman, 1980). The third important aspect is that the organization can easily avoid costly fines for wrongdoings of the workers. Numerous of organizations have been paying huge penalties for not following the accounting standards. For instance, paid a penalty of $100 million in 20120 and Fannie Mae has paid approxim ately $400 for similar issues. Case Study à ¢Ã¢â€š ¬Ã¢â‚¬Å" Application: The investment of the project as given in the case study is  £158,000. The below table clearly shows the cash inflows and cash outflows provided in the case study. Year Cash Inflows Cash Outflows Year1  £43,000  £8,000 Year2  £50,000  £8,000 Year3  £56,000  £8,000 Year4  £59,000  £8,000 Year5  £47,000  £8,000 The summation of the cash outflows for given 5 years is  £255,000 Similarly, the summation of the cash inflows for given 5 years is  £40,000. The net cash flow = cash outflows à ¢Ã¢â€š ¬Ã¢â‚¬Å" cash inflows =  £215,000. As mentioned in the description of the case study that the business would like to ensure that every project will give at least 10% ROI every year. If we calculate the ROIà ¢Ã¢â€š ¬Ã¢â€ž ¢s for the project with 10% ROI, the figures look like this. For 1st Year, the ROI would be around 158,000 *10% =  £15,800 For 2nd Year, the ROI would be around =  £17,380 For 3rd Year, the ROI would be around =  £19,118 For 4th Year, the ROI would be around =  £21,029.8 For 5th Year, the ROI would be around =  £23,132.78. The summation of the ROI for five years is  £96,460. This clearly shows that the net cash with the organization at end of the five years at 10% ROI is  £254,000. Sinc e the ROI generated by the project with the given details is a bit lesser than the ROI that can be generated at 10%, it can be concluded that the project is not a viable option. Conclusion: To understand the stability and profitability of the organization, the financial manager will carry out the financial analysis. With the help of the financial analysis, the financial manager will be able to identify the business risks such as operational risk, financial risk and solvency risk. Normally, organizations will prepare three kinds of the financial statements. They are balance sheet, income statement and cash flow statement. The sources of finance can be classified into two types. They are short-term financial sources and long-term financial sources. When it comes to the short-term financial sources, the business manager can choose sources such as personal savings, retained earnings and back loan. The sources such as venture capital, long-term bank loan, angel investment and Share Capital belong to the long-term financial sources category. Though the structure of the financial statement varies from one type of organization to another organization or country to another cou ntry, all these organizations will provide similar kind of information. References: Al-Ajmi, J., 2007. The use of accounting information by investors in Bahrain. Working Paper, University of Bahrain, Bahrain Bierman, H. 1980. Strategic Financial Planning. New York: The Free Press. Foster, G. 1978. Financial Statement Analysis. Englewood Cliffs, New Jersey: Prentice-Hall, Inc., Fruhan, W. E., Jr., 1979. Financial Strategy: Studies in the Creation, Transfer and Destruction of Shareholder Value. Homewood, Illinois: Richard D. Irwin, Inc. Giacomino, D.E. and Mielke, D.E, 1993. Cash Flows: Another Approach to Ratio Analysis. Journal of Accountancy 175, 55-8. Streuly, A.C., 1994. The Primary Objective Of Financial Reporting: How Are We Doing? The Ohio CPA Journal 53, 15-22 Williams, J. R., Susan F. H., Mark S. B. and Joseph V. C., 2008. Financial Managerial Accounting. McGraw-Hill Irwin. pp. 266.

How Techniques of Rationalisation Aim to Increase Efficiency and Control in Organisations - Free Essay Example

Sample details Pages: 9 Words: 2836 Downloads: 10 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Explain how techniques of rationalisation aim to increase efficiency and control in organisations. Compare and contrast the rationalisation perspective with ONE of the following topic areas. Chosen topic: Leadership, power and politics Rationalisation is important for firms which they should be highly considered about. It is a core factor that would affected the decision making of the owner in order to decide their choice of choosing strategies or methods to organise and manage the business. A rational business could be described as a business that used the less resources to gain as much advantages as they can. Additionally, the business are mainly formed by bureaucracy structure and a standardised production line. This could lead the business to achieve a high level of efficiency. Apply this terms to the junction hotel, junction hotel is not rationalisation. The case study has shown us that junction hotel has under-investment within a poor management. For e xample, restaurant of the junction hotel. They have got a team of skilled and experienced staff but the poor management and none of standardised instruction provided has lead to an erratic levels and poor consistency of standards. This evidence indicates us that junction hotel have got skilled staff as their resources within a high quality. However, they did not take the advantage of it which also mean they could not reach the highest efficiency. There are some features for rationalisation such as to elimate unnecessary equipment, personnel or process from a group of business, factory in order to make it more efficient and the organisation of a business according scientific principles of management in order to increase efficiency. In addition, rationalisation also included psychology for example behaviour about which one feels uncomfortable or guilty .organisation is consider about this is because this can affect them, for example if a business have a good management then workers in the business will work more comfortable and they know what they need to do and work more harder under this good atmosphere, this will benefit the business as the workers work more harder, thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s why organisations consider about it. To further know about what an rational organisation is, by looking at the old century theorists which can give us more idea about it. Taylor( 2014) An industrialist suggested five way that a manager should perform. The five functions are forecasting, organising, controlling, coordinating and commanding (KING and LAWLEY, 2013: 46). In order to describe the five function, first to have a plan and a rough estimate before start doing the project. Then shared information from each of the member to get well organised and then up a task or goal to achieve this job usually the manager in charge the whole process. Weber a sociologist which outlined a few features including the hierarchical structure. This is mean structure of management. Di fferent staff have their own role that have their own task that need to concentrated on. Ford bring out a theory that called Fordism, this is a term widely used to describe the system ofmass production in early 20th century by theFord Motor Company (2015). Ford has designed the mass production technique in order to spend less time to produce the most. Taylor (2011) suggested the scientific management could bring the maximum prosperity to employees. Taylor try to use this method to increase efficiency by using the machinery to get the job done as quickly as possible. Rational organisation can help to increase efficiency by clearly define the role of each member in the company, also purchase stable quality to the customers. As they are clearly define costs for the firm can be reduce so the firm can use minimum resources to achieve the maximum efficiency, also increase the productivity, these clearly show that firm can make a high amount of profit without a huge loss and more likely to break even. For example if the business owner can clearly define what he hopes to accomplish with a certain course of action, what the alternative choices are, and what the likely outcomes are, he can probably ignore workplace politics and simply rely on the formal structure of the company to carry out her orders. looking at the case study junction hotel seen to have a lot of trouble under-investment and a very poor managing system inside the business, if one of the department doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t do well it will influence to the other department this will create a bad atmosphere inside the company and also keep getting far away from the aim of rationalisation . For example inside the restaurant they have some good chief which is well trained and can cook delicious food to serf the customer , but as the bad communication within the staff and apartment they seen to make a lot of mistake and argue at different things which make it even worse and doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t hel p to fix the problem at all. They had quality chef but they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t have a good managing system which they waste the chance to perform even better. There are a few ways that they could do to get rid of this situation and improve their quality of service and performance. The first important things they need is employed a good manager with good leadership skills or good communication skills that can lead the staff to a right tract so that they can do their job in the right direction, setting up tasks and clearly given out order can help to the quality of the food and the time food takes to the customer can be reduce. Also as a leader of the department to communicate with other department to share information from each other to help improve and clearly receive the order with each order, one of the example is office keep changing the menu but didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t tell anything to the chief and the chief is really unhappy as the people in the office didnà ¢Ã¢â€š ¬Ã ¢â€ž ¢t communicate with them well enough so that increase their work load, it make them more difficult to finish off their job also influence the quality of the food and cost of time. These can be done either employed a new head chief or to train on their communication skills. Although the organisation need to put some money on training staff and good communication with the staff , the more action they put in they more benefit they will get back on return, so do more and gain more. McDonaldizationis the term invented byGeorge Ritzerto describe a sociological phenomenom that is happening in our society (Rogue Valley Group, 2000-2009). This company work in a rational way and have a high performance. Mcdonaldsation suggests that the rational production can be seen in the fast food restaurant. McDonald is a well-managed organisation which is rational and hierarchy structure. All the task have already break down into different part for different staff to work on to match their role. For example a staff work in the cash machine and take order from customer , a staff working on food and drinks when they see the order they will take what on the screen to the desk ,chief will keep cooking and fill out what empty which they are well organised and knowing what they have to work on . As all the staff are doing their own job the quality of the food and drink will make no big difference between each other and the time taken will stay the same ,as the performance go well less error will make. This system help the company train new staff more quickly, as they are a fast food restaurant it will be high turnover for their company as most people come to get a part time job so using this method reduce the time of training unskilled staff also reduce the cost and easily replace. This is one of the successful company which have chosen a right method to lead there business become success. Travelodge is a private company operating in the hotels and hospitality industry through out theUnited Kingdom. Branded simply asTravelodge, Same as the McDonald they break down the tasks in a very easy way for the employees, different form other hotels they only do online booking and when customer come they just to show their id for check in their room and the staff just given out the key to them ,for checking out is the same process give them they key and thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s check out completed , in these progress there arenà ¢Ã¢â€š ¬Ã¢â€ž ¢t much to do for the staff as the company have set up everythingà ¢Ã¢â€š ¬Ã¢â€ž ¢s for them in a easy way to work on compare to the other hotel they are doing a very easily job , it is quite similar with the McDonald as if an unskilled employees come to work, it take very short time to help he/she to have the knowledge how to work here and as the work break down in this very easily way so the quality of the service can stay the same for sure as the job they are doing is well organised. This is the similar methods between two different type of company and the method lead them to success. Although rationalisation is very important to the business but there are some important things that can also influence the business. For instance, company can think of leadership,power,politics these three topic also appear to the organisation. Leader ship is one of the most important things that a manager or group leader should have to well organise and control the staff which work under them, given out right order to different staff cause every decision the manager made can affect the company, different staff have different strengths and weakness so the manager must look very carefully what he/she can do and canà ¢Ã¢â€š ¬Ã¢â€ž ¢t do , in other way to give them a right order to complete and perform much better within their skills. Also a good leader must have look after the staff well as to see what they need and what problem they are having while during the work, as if he pay attention on them they will be more lik ely to follow your lead and complete the task in a much higher performance. A good leader will also need power to in case some not behaviour staff, cause not all of the staff will listen to the order some this is time to show that you got the power to control them to work and punish them if they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t work on their job probably. Refer to (Mr P Tailor and Mrs S. Tailor) An essential part of leadership or management is to influence the people you manage so that they do what you want them to do. So if a leader is too soft then he/she will be very difficult to lead a team that is lazy and uncontrollable, sometimes becoming an arrgasive leader can do the job easily and better as people will listen to your lead as they afraid of your power and you have the right to control them. Politics is some kind of rule that set up by the workers or manager to follow, different office have different politics for example if you are new to the an organisation you will need to make som e new friends or build some alliances in case that you have something didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t understand that someone will have your back and help you with it, sometimes if you have a boss which is very lazy you will need to put extra hard work yourself to finish off the work. In junction hotel they have a good team of cleaner and they are all skilled, but when they start working they arenà ¢Ã¢â€š ¬Ã¢â€ž ¢t doing as a group is just like an individual task work as they received the message from the boss and they just follow the lead at what people told them to do so there arenà ¢Ã¢â€š ¬Ã¢â€ž ¢t any communication inside the group refer to paragraph on top the office politics is the rule you follow to make you survive in the company, one of the rule is to build up alliance in the other hand is to make friends so that when the work start they can communicate which person working which part and share the information all around this cost less error as well ,also this gave you power i f the boss doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t do something right for example cut down the salaries that at list you can have your teammate to support you and complain about it so you can get the strength to fight back. Back to the case study as the cleaners didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t have a good leader leading them so quality of the job will be poorer as they have to follow instruction to do what they need and the manager doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t communicate with them very well. These will be a big trouble if things still stay the same. Refer to junction hotel (KING and LAWLEY, 2013,162-163) Linda Wilson meets graham Effingham for a meeting. There are some problem with the kitchen so Linda have a chat with graham to ask for future information to see whatà ¢Ã¢â€š ¬Ã¢â€ž ¢s going on at the moment. Graham is doing his job well as he won awards for what he cook to the customer, however food is not getting out quick enough and wrong order . But graham think he did the job all right so he didnà ¢ â‚ ¬Ã¢â€ž ¢t talking to Linda politely. This action cause too problem first graham didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t respect to Linda in a polite way and try to argue with her, other things is he canà ¢Ã¢â€š ¬Ã¢â€ž ¢t give an order and control his staff probably, he is more likely to do his job rather than do what a leader should do to take the lead and solve out the problem they have, so that why he is not a leader material. Linda have a problem with that she is too soft and people donà ¢Ã¢â€š ¬Ã¢â€ž ¢t listen to her as she is not strong enough to control the staff, she should be more arrgasive, but one thing she did good is she try to communicate when there is a problem having with the kitchen. If an organisation would like to cut costs, they usually will cut down the wages of the employees but this action will cost a lot of trouble that not appear so soon but harmful to the business. Pay them less, and theyll reciprocate with less work (Ray Fisman) it old us that when people get lo w pay they will unlikely to work harder as they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t feel happy about the money they get, the more and the less they do will get the same amount of payment so they will rather work less and not do work any harder, this can cost a lot of trouble with the business, first less performance low quality of product and service, high turnover staff will rather work in a different company that will pay them more money, bad quality lead to the customer complain about it and lose some new and old customer. This evidence told us that before doing a decision you must think about the cost and benefit do see if it is worth doing it before take action, the best way is to have discussion with the employees and try to know about their feeling and explain why the firm need to make this decision to let them know whats going on. In conclusion, the concept of rationalisation could turn the junction hotel in a positive way which can help the company to cut cost, also increase the eff iciency and also help to increase the profit that they could make. This could help the business perform very well and good reputation. Moreover, the hotel could gain a growth of size in the market which would increase their competitive advantage. Nevertheless, rationalisation may have affected the business into a negative way as cut cost may impacted the staffs to be unsatisfied. So, the manager should communicate with workers and understand their thought and feels so that everyone to use their potential to work harder as they could to help junction hotel to become success and gain the most advantages with the competitors. Also managers in the junctions need train on their leading skills to get more power and more comfort on leading people as under the poor leading skills that seem to be a lot of trouble having around the restaurant and other department. Reference Vincent van Vliet-( 2014)https://www.toolshero.com/five-functions-of-management, Bob Jessop(2015)https://www.br itannica.com/EBchecked/topic/1920809/Fordism King and Lawley(2013),organizational behaviour, oxford university press,oxford,(chapter 2,45-46),(chapter 6,162-163) TAYLOR, F.W. (2011) Principles of Scientific Management Harper: New York. Rogue Valley Group https://www.mcdonaldization.com/whatisit.shtml Mr P Tailor and Mrs S. Tailor https://www.learnmanagement2.com/leadership%20power.htm Ray Fisman https://www.slate.com/articles/business/the_dismal_science/2011/03/raises_dont_make_employees_work_harder.html FMO Don’t waste time! 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The Role Of The Juvenile Delinquent - 1942 Words

POPULAR CINEMA ESSAY - word count - 2035 Analyse and critically discuss the role of the ‘juvenile delinquent’ in any two teen films screened in the course. You must consider the impact of relevant industrial, economic and cultural factors. INTRO The juvenile delinquent or (JD) films, as which they have came to be better known as, started as a movie cycle and was very characteristic of hollywood in its prime. Looking back at another cycle which can be seen as similar and a precursor, both in the approach of the overall approach and the themes of the films would be the gangster films of the 1930s. These movies saw successful breakthrough in the box office and from this box office success saw a increase and spawn in countless†¦show more content†¦The initial idea started around the fact that the younger generation is out of control and is often seen as a controversial statement that this was evidence of claims about moral and cultural decline. Young people became increasingly troubled and worried which led to the adolescence life stage being classified and a period of fragility, vulnerability and risk. Although there is a long history of younger kids and teenagers committing crimes the term we come to know as juvenile delinquent only really came about and entered public debate in the post war period, it was around this time it came to be defined as specific and new social concern. As well as the uprise of the JD in the hollywood films there was continued concern about the dangers of young viewer identifying with the the JD characters. It was also around this time into the early 1950s that the industry face a much more fundamental problem. Before the 1950s, the hollywood cinema in general had been a mass medium which saw going to see a movie as a intergenerational experience, in which whole families would go attending together as a past time. 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