Dynamics of Managerial Accounting Process Research Paper

Dynamics of Managerial Accounting Process - Research Paper Example The research will focus on practical solutions that are dynamic to cater for structural weaknesses in an organization’s management and communication of information. Dynamics of an organization’s management provides for a comprehensive introduction of constraints to managerial accounting and decision-making efficiency in profit and non-profit oriented organizations. Organizations are desperately in need of a supportive and fully integrated accounting system that enables efficient communication of accounting information for vital managerial decision-making. Changes in management accounting take place in a variety of dimensions that are of an irregular nature. However, organizations need to adapt their management accounting tasks, techniques, skills, and tools to the relevant dynamics. The study seeks to analyze management accounting practices to come up with functional solutions in adopting the continual changes concerning the practice. Solutions need to influence managem ent accountants to advance and adopt their practices to be able to relate management accounting to information flow that is wider within the organization. Nevertheless, current dynamics depict shifts from financial accounting practices to those oriented to commerce. However, irrespective of the dynamics, the study recognizes that traditional managerial accounting practices such as cost control, interpretation of operational information, and management budgeting remain essential. The research seeks to represent continuous improvement of managerial accounting with the necessity of adopting a broad view of commerce. Study expectations are directed towards the adoption of non-financial measures where users are able to integrate both non-financial and financial measures into planned strategic activities. Study expectations to solutions also require that managers should embrace ethics in carrying out their day-to-day tasks besides developing quality leadership skills. On the other hand, f uture managerial accounting techniques and tools are expected to be activity-based and forward-looking. The study would also reveal value creation tools that appear to be important for future managerial accounting. Review of Literature Managerial Accounting Dynamics According to Hopwood and Chapman (2009, p. 1222), the manners in which organizations manage various dimensions of change bring about significant implications for managerial accounting dynamics and innovations to changing perspectives. The organization has to understand different types of changes such as predictable and unpredictable, controllable and non-controllable, evolutionary and revolutionary, and comprehensive and incremental among many other types. An understanding of the various types of changes is not only good for organizations, but also a necessity to achieving efficient management. Managerial accounting process is dynamic in nature just like the world dynamics, in order for users of accounting information to remain relevant in future and the present day dynamics the organization needs to have a thorough understanding of the existing change dynamics. Managerial accounting dynamics necessitate organizations to spend resources on solution alternatives to enable standardization of existing accounting tools, skills, and

Econ of Arts and Entertainment Essay Example | Topics and Well Written Essays - 2500 words

Econ of Arts and Entertainment - Essay Example An example of such issues is the labor market issue. Using the sports industry as an example of an art related industry, this paper aims at discussing the labor market issues in the sports industry. One of the main things that attract spectators to sports is the fact that they will be able to experience some aspects of struggles that are common in human lives in a dramatic and stark way. However, economists can be attracted to sports for reasons that are different from those of the spectators. To economists they see sports as an industry with the ability to illustrate the economic principles in an attractive and interesting way. Over the years the labor aspect of the sports industry has gradually grown to become more and more complex (Burk 173). It has gotten to a place when been involved in professional sports without commercializing it is no longer attractive. This trend can be illustrated by the way soccer teams globally have to spend more on their players in order to make sure that they attract more fans which will result to more income. If a team chooses not to spend more in order to hire the best players in the market, they will be competitively disadvantaged making them less attractive. Supply and demand of labor are aspects that should be keenly observed in any industry, especially during these days of economic hardships and uncertainty. This applies to the sports industry. It is important to note that the demand for labor in the sports industry can influence that rate of payment for human labor. The payment can also vary in terms of individual mobility, racial discrimination, personal productivity, and availability of substitutes. Property rights can affect the supply of sports talent. Collective agreements like payroll caps, reverse order drafts, and revenue sharing can be used to control such forces (Rosner and Shropshire 137). Under normal