Role of Cost Accounting and Ethical Consideration

RUNNING HEADER: Role of Cost Accounting and Ethical Consideration Role of Cost Accounting and Ethical Consideration Introduction Cost accounting is used to help management understand how much it cost to run a business. Understanding the role of cost accounting is important when one is trying to put together a team of managers to help run the company. The CEO of a merchandising organization needs to hire a CFO to run the accounting system, but the CEO has little understanding of cost accounting. The CEO will hire a consultant to help her understand the role of cost accounting, the role of ethics in cost accounting, and compare and contrast the absorption and variable costing. Role of Cost Accounting Cost accounting is the area†¦show more content†¦Ethical analysis needs to be instutionalized as an integral part of phases in decision making process. Compare and Contrast Absorption and Variable Cost It is important for the CEO is the manufacturing organization to understand the different between absorption cost and variable cost. One different between the two are the way accounting treats fixed manufacturing overhead. Absorption cost is all the manufacturing overhead costs applied to the manufactured goods (Hilton, 2003). Variable cost is applied to work in process as product cost, and fixed overhead costs are expensed as period cost. Other different is the timing of when fixed overhead becomes an expense. Variable fixed cost is expense immediately, and absorption fixed cost is inventoried until the goods are sold. Fixed cost is expense in both accounting system. Both systems have advantages and it will be up to management to decide which works best for their organization. Below is a list of each system advantages: â€Å"Advantages of Absorption costing †¢ Fixed MOH is treated as the same as other product costs, e.g. DM, DL †¢ Consistent with long-run pricing decisions that must cover full cost †¢ External reporting and income tax law require AC Advantages of VariableShow MoreRelated Cost Accounting: Its role and ethical considerations Essay1054 Words   |  5 PagesCost Accounting: Its role and ethical considerations Introduction: Accounting is the process of identifying, measuring, and communicating economic information about an entity for the purpose of making decisions and informed judgements. The major areas of within the accounting are: Financial Accounting, Managerial Accounting/Cost Accounting and Auditing- Public Accounting Managerial accounting is concerned with the use of economic and financial information to plan and control the activitiesRead MoreEthical Issues Of Business Environment850 Words   |  4 Pagesenvironment, companies can face a number of ethical issues that require making hard and often dissatisfying decisions. In this context, it is necessary to mind ethical norms as well as results of actions taken in order to keep the efficient communication across companies and keep the right balance in communication with colleagues, subordinates as well as mangers (Horton, 2015). Taking into consideration that there can be distinguished a range of ethical issues that pertain only to certain types ofRead MoreEthics : Ethical And Ethical Considerations1741 Words   |  7 Pages The idea of being ethical shouldn’t only play a role in business fields, but also in a normal person’s everyday life. Being ethical pertains to what one thinks is right and wrong. For some one thing may be right while for others that same thing may be wrong, it all depends on your own beliefs and morals. In the accounting world being ethical deals with morals and embedding trust into a company. For small business investors, creditors and managers being ethical is a simple way of staying out of troubleRead MoreExcello1204 Words   |  5 Pagesand must make the ethical decision that will benefit the company as well. Terry Reed, the Chief Financial Officer (CFO), is requesting that the accounting team find a way to record the revenue in the current month. Reed wants $1.2 million sale to happen with Data Equipment Systems. Marty Fuller is the accounting team lead. Marty is currently concerned about the legal and ethical consequences options available to the company. Breaking the law is not an option for the accounting department, so theRead MoreSarbanes Oxley Memo1410 Words   |  6 Pagesrelationship amongst the FASB, SEC and PCAOB, describes the pros and cons of SOX, assesses the impacts of SOX, and lists ethical considerations of SOX. History of SOX - the Sarbanes-Oxley Act of 2002 is legislation in response to the high profile financial scandals, such as seen with Enron and WorldCom. The purpose of this act is to protect shareholders and the general public from accounting errors and fraudulent business practices. The Sarbanes-Oxley Act introduced stringent new rules to protect investorsRead MoreThe Rise and Fall of Enron1532 Words   |  6 PagesMost of the world has heard of Enron, the American, mega-energy company that â€Å"cooked their books† ( ) and cost their investors billions of dollars in lost earnings and retirement funds. While much of the controversy surrounding the Enron scandal focused on the losses of investors, unethical practices of executives and questionable accounting tactics, there were many others within close proximity to the turmoil. It begs the question- who was really at fault and what has been done to prevent it fromRead MoreAgency Theory And Stewardship Theory1261 Words   |   6 Pagesstewardship, directors are more interest in the success of the organization in the long term. 2. Explain the strategic roles Board of Directors have in conjunction with senior management and the running of an organization. Which Degree of Involvement in Strategic Management describes the Board of Directors for your strategic audit firm, and why? A board of directors has an important role in the direction and performs in the company. They have the ability; in the form of groups to make decisions for theRead MoreBusiness Law Proposal : Technology Essay1598 Words   |  7 Pagesmarket as the focus is on selling software and hardware. The hardware that the business will concentrate on is the laptops, printers, monitors, projectors, keyboards, mouse, and cameras. The software includes the systems of operation, programs in accounting and the applications used in processing and editing programs for images. The range of products will also include the installation of the internet where the software utilized is critical in ensuring that there is focus on reaching to new clientsRead MoreThe Issues And Risks Facing Sel1202 Words   |  5 Pagesoverview of the implications of the proposed IPO, and a brief analysis of the three accounting packages under consideration are also given in the memo. Weaknesses in financial management SEL has been weak in financial management. Both of you were not actively involved in it. Nor did SEL have sufficient qualified accounting staff to undertake these critical responsibilities. For example, there were no such roles who conducted business/operation planning, forecasting and budgeting, and financialRead MoreBigger Than Enron751 Words   |  4 Pagesof the standards is a fact, which leads to believe that there might be large groups of the financial information users, who are interested in the particular way of reporting. If it is beneficial to them and to the market without compromising any ethical issues related to the financial reporting, if the market gains from such interests, than the standards should be formed under such influence. The question is who is going to decide if there are benefits. I guess, this is the area where the real politic

Population The Growing Problem Essay - 3830 Words

Population: The Growing Problem History of Earths Population From the beginning of time until 1850, the world population had been steadily growing until it finally reached the point of one billion people. Hurray for our species, we are successful and have been able to make adaptations in order to survive! Then, only 80 years later, the world population doubled to a whopping 2 billion citizens. After that, the doubling time was sliced once again. By 1960, just thirty years later, three billion people called Earth home. Seventeen year later, in 1977, the world population hit four billion people. In 1986, nine short years later, we reached a population of 5 billion inhabitants. Sometime in the next few years, we are looking at†¦show more content†¦Malthus predictions and preaching about famine were a bit of foreshadowing of the tragic Irish Famine in the 1840s. When failure of the potato crop occurred for several successive years, this produced a devastating famine. Between 1841 and 1851, Irelands population fell from 8.2 million to 6.6 million through starvation [and] disease... (Grolier Electronic Dictionary 1996). Also, an even more explicit example of Malthus warnings happened in China between 1850 and 1890 when 50 million to 70 million people died as a result of a successive string of famines. Granted, the Taiping Rebellion added to the carnage, but the bottom line is that people were hungry and did not have adequate food to survive (Scanlon 1997). In 1955, Karl Sax was Professor of botany at Harvard University and published a public warning about the implications of overpopulation in the book Standing Room Only. In this book, Sax warns the human race about the grave danger with which we are faced. When describing the current situation, then a population of 2.4 billion, and the speed at which humans are reproducing, he cautions the reader by predicting that ...at these current rates, the world population could reach 4,000 million by the end of the century (Sax 1955). This milestone of 4 billion people was reached only twenty-two years after publication of this prediction (Davidson 1995). Current Understanding of theShow MoreRelatedThe Problem Of A Growing World Population1939 Words   |  8 Pagesperspective: Countries with high average population density tend to be the same as those with large amounts of arable land (e.g. Canada has the 11th lowest population density and very little arable land at 4,73%) because large amounts of land are uninhabited. Generally, areas that are developing have higher population densities, however, less developed areas generally have more population growth. All solutions to the problem of a growing world population can be categorized into to categories -Read MorePossible Solutions to Ease the Growing Problem of Over-Population846 Words   |  3 Pagesof us on a global scale for society. Our population growth has exploded since 1967, let alone back in 1750. Since 1967, the world population has doubled and annually grows around 80 million people a year; that’s around 2.5 people every Second. Societies speculation of overpopulation has went from a probability to a growing fear of what the future may hold for the global economy. Some countries have taken measures, either by law or trend, to lower population growth yet and some have no idea where toRead MoreObesity Epidemic : A Growing Problem Within Our Population861 Words   |  4 Pages The obesity epidemic Americans face today is a growing problem within our population. With serious health issues associated with obesity, it is a problem that needs to be addressed and changed. Wh ile fast foods have been around for a long time, many people claim that fast food places are to blame. Each day people turn to fast food for a quick meal, wether it is breakfast, lunch, dinner, or even snacks. As fast foods begin to expand and progress throughout the world, people especially in the UnitedRead MoreThe World Population Is Evolving Ageing And Cognitive Impairment ( Ci ) Is A Fast Growing Problem1722 Words   |  7 Pagesbecoming a more prevalent, frightening, and expensive personal and social problem – but a problem that companies can more effectively address with innovative products and services. The world population is rapidly ageing and cognitive impairment (CI) is a fast growing problem Cognition is the integration of mental functions such as attention, memory, producing and understanding language and communication, learning, reasoning, problem solving, and decision making in order to process an adaptive behavioralRead MoreThomas Hardin And Julian L. Simon s The Tragedy Of The Commons935 Words   |  4 Pagesin the world’s population. Many viewpoints on this debate exist, and two views in particular contradict each other. These viewpoints include those of Garret Hardin and Julian L. Simon. Hardin’s view is expressed in â€Å"The Tragedy of the Commons,† and Simon’s in â€Å"More People, Greater Wealth, More Resources, Healthier Environment.† These debate problems and solutions of the growing population, including the use of natural resources in order to supply the world’s growing population. Hardin perceivesRead MoreThe Problems Of The World s Population1606 Words   |  7 PagesThe world’s population has been increasing since the industrial revolution at a pace that has never been seen in human history, and with that growth comes the societal obligation of maintaining stable societies where everyone s basic needs are met. Among the most important of these needs is the drastically increasing demand to feed everyone. But just as technology sparked the industrial revolution that initially caused this problem, it has also been responsible for the innovative solutions we’veRead MoreEssay Food Secuirty and Malnutition in the World829 Words   |  4 PagesThe growing population of over seven billion has caused many people to worry about food security and malnutrition. Currently, there is enough food to feed everyone in the world but equal distribution is a major problem. However, with the growing population food security will become an increasingly significant problem because there will not be enough food for everyone. Likewise, as more countries are starting to develop, their dietary need and demand for better food increases. Developing countriesRead MoreThe Problem Of A World Problem1281 Words   |  6 PagesA world problem is one that cannot be solved by countries acting alone and do not affect one country alone, these problems will have consequences for many people across the globe. Additionally, global problems can be so significant that they affect the ability of the planet itself to support life. There are many world problems that are evident around the globe today, however the most significant problem is population growth. According to the UN News Centre, in 2015 the world population was 7.3Read MoreThe Problem Of Rapid Population Growth1605 Words   |  7 Pagestime until 1804 to reach a world population of one billion people. Population statistics show that there were 1.6 billion people in 1900 and this figure reached 6 billion before the end of the 20th century. Over the past several decades, the world s population has been growing exponentially. According to the population statistics, this figure is going to ascend to more than 9 billion people by the end of 2050. Recent studies shows that the growth rate of population has somewhat steadied from the priorRead MoreEssay On Overpopulation1683 Words   |  7 Pagesexplore some of the problems associated with a rapidly growing population leading to overpopulation, such as an increase in hunger, a loss of land, and a loss of resources received from the land. We will discuss when the problem began and the history of how fast the world’s popula tion has multiplied from the lack of contraception assistance due to cost or availability; consequently, resulting in the overpopulation problem. Furthermore, I will purpose the righting of these problems will contribute to

Self Reflection on Leadership and Management †Free Samples

Question: Discuss about the Self Reflection on Leadership. Answer: Introduction: The following report is going to manifest self reflection process of leadership material within myself. The manifestation of leadership is set to encompass varieties of leadership concepts and skills. Leadership in order to imply strategic changes in the business organisations needs to be brought into effect by the person who holds the key to drive operations pertaining to different sectors within it. Leadership management according to Kaouther Korbi (2014), is surrounded by an environment that is to be analysed through the skills of perceptions as well as intelligibility. As per Corbis views, leadership is the incorporation of the individual traits that helps a person develop the ability to look deep into each possible trait of the employees (Parkay, Anctil Hass, 2014). The following report thus tends to reflect inbuilt leadership quality as well as learned leadership skills during the procedure of guiding the subordinates in professional business course.The self analysis and reflective paper constitutes leadership theories while managing strategic change in an organisation. Strategic Change Management: Change management is the process or tool that is applied to change the mode of working and performance of the people or the procedure of operations in order to improve the quality of production or service of an organisation. Change management is cordially associated with the strategies implemented by a worthy leader who possesses the skill to develop change management skills of the employees. Self Reflection: I have been working as an operations manager in a company that deals with content development. The company creates contract with the clients belonging to advertisement sectors as well consumer sectors. Different clients belonging to the advertisement department hire the company in order to develop writing contents and making graphical designs on the website. Since the task is completely client oriented, the coordinating staffs are responsible to work according to the requirements of the clients. The requirements are preloaded in the job portal and the work is done accordingly. As a matter of fact, the writers(employees) and the content developers are highly responsible for the project designing required by the clients. It has often been found that there remains a lacuna between the content developers and the clients pertaining to exact requirement files. Being the operations manager, the responsibility is shouldered upon me to form a communicative bridge between the clients and the e mployees. As an organisational leader, it is my obligation that I am supposed to guide the employees of all layers in terms of attaining the the most potential working environment thus attracting greater number of the clients to our company. Establishment of Leadership Theories: I consider myself as a democratic leader and I firmly believe in contingency leadership theories. I do not believe in the great man theory that says a leader is born. While guiding the subordinates in the organisation I make my decisions depending on the present circumstance. Therefore my leadership method does not contain a one way driving. It varies according to the organisational situations. I would like to emulate the quote of Dickens that leadership is not a position, it is rather a fiduciary calling (Dickens, 2015). Who could forget the famous dialogue from Spiderman- with great power, comes great responsibility? In my personal opinion, leadership is not matter of dictating the subordinates in regard to bring best potential out of them. According to Hersey Blanchards Situational Leadership Theory, leadership quality depends on the individual situation. Adaptation of leadership quality depends on how a leader responds to different individual situations in an organisation. This theory somehow links to the contingency theory of Leadership. I can chronicle some of the examples where I realised that I have the zeal to respond to different complex situation while working in this same organisation. Last year, due to huge influx of the trainee candidates in the organisation, the existing workers started fearing that they would lose their job. It gave birth to employment anxiety and resulted in snail- production. Though I was not a human resource manager, I had to hold the steering and drive the entire population inside the organisation to vibrant working culture. The work was quite simple- to give a brief lecture pertaining to the importance of collaborative work. For few days I decided to work with them in the same room. I did so in order to realise their feeling as junior content developer. In most of the cases in found that the employees were not communicated well pertaining to the new opening of a branch of this organisation and they were not supposed to be replaced by the newcomers. On the other hand, there was a huge problem pertaining to the placement of the newly recruited employees as the new branch was nothing but the projection. The next challenge was to settle the newly joined employees under a roof. Since there was no extra space for the fresh employees, I called some of the engineers of my acquaintances and built a temporary wooden building within a month. This was enough to provide space for fifty employees. For next one month the process ran with ease and we could manage both the offices proficiently. Decision Making Theories: I exemplified this incident as it provided me with confidence with decision making. So far I have judged my decision making process, the way of decision making could be placed under the shade of the theory of attribution. Theory of attribution is employed upon the practice of decision making process and it has two different modes of decision making: i) Internal Attributes ii) External Attributes Internal attributes are the characteristics of a person that lead to a firm decision making idea. The internal attributes may be the presence of mind in judging certain circumstances. On the other hand, the external attributes are caused by the behaviour of the situation oriented to the the decision making process. In the aforesaid incident, the internal attribute was the boldness of the decision making process. However, I personally believe that the external attribute was more effective than the internal one. The external attribute was the complexity of the situation pertaining to the shifting of the newly joined employees and construction of the temporary office. Application of Experience: The experience would definitely help me learn better process in leadership band decision making. Though the company belonged to unorganised working sector, the working experience for me has been really helpful as it provided me with ample opportunity to learn leadership quality. Leadership and Strategic Change: Learning of leadership and strategic change helps an individual identify the types of required change in the strategy and management process. It would further assist the individuals to analyse the context of the organisations in designing strategic change programmes (Booth, 2015). Followings are the key elements of strategic change management in an organisations; Fig: Key Elements of Strategic Change Management Source: Created by the Author The elements of strategic change management work as complementary force to each other. In case of bringing the change in the organisation or the operations a leader needs to diagnose the present situation or the problem stated in order to bring the change. The diagnosis is then set to lead and manage the required change. Then it goes on to manage the change programmes in need (Beck, Cowan, 2014). In the previously mentioned case I have applied all the elements in analysing and diagnosing the problem so as to plan the change accordingly. Though the process of diagnosis did not imply any systematic process, it was based on spontaneous understanding of the situation. Then different change materials were incorporated so as to create an idea to revamp the present situation with the conceptualised one. Key Premises of the Change Management: There are four key premises of change management. These are: i) Strategy ii) Context iii) Inertia and Resistance iv) Leadership v) Strategy matters in the identification for the need for bringing the change in a particular direction. vi) Context drives in the right approach to the change depending on the mode of the circumstances. vii) Leadership is the basic need for bringing the change in an organisation (Belias, Koustelios, 2014). Leadership and Nature of Change: Fig: Nature of Change Source: Created by the Author The above diagram illustrates the nature of change adapted by a leader in terms of organisational development. Leadership is one of the most effective forces in brining the change in an organisation (Cameron Green, 2015). Conclusion: Having understood the theories and concept of change management and leadership, i could roughly create a genre of my own thus framing the strategies for change management. As a matter of fact, the change brought in the organisation where i was working, was actually motivated by the situation. My leadership quality was reflected while supposing the change for the new employees. It can thus be concluded that the change management strategies need clear insight of the problem as well as effective planning framework of for the fture improvement. Reference: Beck, D. E., Cowan, C. (2014).Spiral dynamics: Mastering values, leadership and change. John Wiley Sons. Belias, D., Koustelios, A. (2014). The impact of leadership and change management strategy on organizational culture.European scientific journal,10(7). Booth, S. A. (2015).Crisis management strategy: Competition and change in modern enterprises. Routledge.s Cameron, E., Green, M. (2015).Making sense of change management: a complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Dickens, P. (2015). ABC Denomination.Director,905, 466-6340. Parkay, F. W., Anctil, E. J., Hass, G. (2014).Curriculum leadership: Readings for developing quality educational programs. Prentice Hall.

Rabbits Immobilized In Wooden Stocks With Ulcers In Their Essays

Rabbits immobilized in wooden stocks with ulcers in their eyes; baby seals being clubbed over the head, and the infamous shock treatment. Broach the subject with an individual and odds are that they have witnessed footage of one or all of the aforementioned practices and are appalled by the cruelty. Appalled yes, willing to stand up and voice their thoughts... not often. There is one significant reason for this unwillingness by some to stand up for the rights of our fellow inhabitants of this planet, personal convenience. We are systematically cutting down the last forest that provides their shelter to farm cattle; we dump toxic chemicals and sewage into the waters in which they live; we wear the tusks of the last few of their species on our arms, and we pour cosmetic products into their eyes, rectums or vaginas to determine the harmful effects they might cause on humans, even though the physiological differentiation between humans and the animals they use is durastic. On a daily basis most people do not see their own degree of unintentional support towards this global dilemma, but when compiled on paper one must question how mankind can, with conscience, commit these acts which shame us as human beings. Animals possess the same kinds of feelings and emotions as human beings, and without anesthesia, they are subjected to the pain as well. Mankind often fails to give animals the respect and rights they deserve, they are treated as lifeless, unfeeling scientific specimens and items that we may manipulate at our own convenience and for vanity's sake. Laboratory research involving animals is cruel and merciless treatment of helpless creatures. No law requires that cosmetics and household products be tested on animals. Nevertheless, by six o'clock this evening, hundreds of animals will have had their eyes, skin or gastrointestinal systems unnecessarily burned or destroyed (Sequoia, 27). Two of the most famous animal tests are the Draize, or eye irritancy test and the LD50, Lethal Dose 50. The Draize test is performed almost exclusively on albino rabbits, such as the Florida White, because they are cheap, docile, and are not "equipped" with tear ducts to wash away the chemicals. During the test the rabbits are immobilized in a stock with only their head protruding and a solid or liquid is placed in the lower lid of one eye of the rabbit; substances vary from mascara to aftershave and even oven cleaner. The rabbits eyes are clipped open and observed at intervals of 1, 24, 48, 72 and 168 hours. It is important to note that, during this test, anesthesia is rarely used. Reactions include inflammation, ulceration, rupture of the eyeball, corrosion and bleeding. Some of these studies continue for weeks, and all the while no measures are made to reduce suffering or treat the rabbits. Survival, however, will only lead to an entirely new set of tests, such as the skin irritancy or the LD50. Lethal Dose 50 refers to the lethal dose that is required to kill 50% of all animals in a test group of 40-200. Animals are force fed substances through a stomach tube, forced to inhale a substance, or have the substance applied to their rectum or vagina. These tests continue until half of the test animals die. During these tests animals will often endure excruciating pain, convulsions, loss of motor function, seizures, vomiting, paralysis and bleeding from every open orifice in the body. Any animals who somehow manage to survive these particular tests are subsequently destroyed (Sequoia, 29). There is also a Lethal Dose 100 test that determines the amount of a test substance required to kill 100% of the test animals. Ironically, results of these tests are rarely, if ever, used in situation of actual human poisoning. The skin irritancy test, similar to the eye irritancy test, is where an animal, most commonly a rodent, has a highly concentrated solution of a chemical in question applied to their skin. Their skin is then observed for signs of irritancy, such as redness and blistering. In some cases, the irritation can be so bad that the product actually burns through the skin. Not only are these tests cruel, but the results are unreliable and unnecessary as scientific evidence. As with the aforementioned Draize test; rabbits eyes are not the same as human eyes - there are profound differences, mainly the absence of tear ducts. In addition, different species react differently to various substances; substances that fail to damage a rabbits eyes may be toxic to a human. For example, nicotine is lethal to humans at 0.9mg/kg, but lethal dose value of nicotine in dogs