A Case Study about Strategic Planning at the U.S. General Accounting Office
Introduction: In anticipation of impending domestic and global changes, the U.S. General Accounting Office developed a strategic plan to guide its efforts. The two-year strategic planning process and GAOís Strategic Plan, 2000-2005, prompted a complete reorganization of GAO that began on October 1, 2000. Developing the plan entailed unprecedented effortóinvolving staff at all levels and a wide spectrum of stakeholders. The plan evolved, in part, in response to a senior management directive to clarify GAO’s mission and objectives. Additionally, managers foresaw the plan as an opportunity to communicate to Congress and the nation GAOís capabilities. Comptroller General David Walker referred to the plan as ” a blueprint for how [GAO] will support Congress and the American people in the future,” and “a vision for strengthening the performance and accountability of the federal government.
With this end in mind, GAO embarked on a planning process that would satisfy criteria of the Government Performance and Results Act. Members and staff of Congress were involved heavily as GAO developed the plan, which ìstarted and ended with Congress.î Challenges emerged throughout the process, providing learning experiences that are relevant to organizations involved in strategic planning. The intent of this case study is to capture lessons learned, provide insight on GAO’s strategic planning experience, and offer recommendations to guide future strategic planning efforts at GAO. Keep reading…
Case Study about Accounting for Non-Accounting Students: Belarus
Abstract: One common problem associated with the teaching of accounting to university students who are studying management, marketing, law, or other area is their low level of motivation to study accounting. This paper introduced an analytical summary of the Belarusian methodological approach and teaching techniques that allow an educator to overcome this hazard. The case study revealed that the most effective educational results are achieved when a learning environment includes three components thatare integrated into the content of an accounting course: (a) motivation models, (b) professional and interpersonal communication skills, and (c) a habit of interdisciplinary links construction.
Introduction: Strategic priorities of national economic development are conditioned by quantitative and qualitative changes in the system of economic education. Motivation plays a crucial role in the quality of economic education and is especially important in resolving studying issues often experienced by students who have chosen a future professional career in management, marketing, law, or other area. One common problem associated with the teaching of accounting to university non-accounting students is their low level of motivation to study accounting subjects.This paper contains a discussion of the three key components of the motivation model developed for non-accounting students and tested during 12 years of my work as a primary convener for accounting courses at the Belorussian State Economic University and the Belorussian University of Law. Keep reading…
Case Study about Strategic Management Accounting Practices in Croatia
Abstract: The purpose of this paper is to provide an insight into strategic management accounting practices and their implications on relevance and timeliness of information used managers. The research is based on a questionnaire survey of the large-sized Croatian companies. Activity based costing and quality costing represent the most widely used strategic management accounting techniques in the Croatian sample. The results of the empirical research indicate that the fundamental purpose of strategic management accountig, and that is providing broad scope of relevant and timely information, is fulfilled. It was hypothesized that synergistic effect of the different strategic management accounting techniques implementation has a positive impact on cost control and reduction.
Introduction: The business environment has become intensively dynamic and increasingly unpredictable in recent decades and, correspondingly, managing company has become more demanding. To achieve competitiveness, companies apply different strategies and management accounting should be used as one of the main supporting system for strategy implementation. For this purpose strategic management accounting and strategic cost management have been developed. Kenneth Simmonds is considered to be the founder of strategic management accounting when he introduced the concept in 1981. Simmonds (1981: 26) defines strategic management accounting as monitoring and analysis of management accounting information of the enterprise and its competitors in order to develop and control strategy. Bromwich (1990: 28) believes that strategic management accounting provides financial information about the market in which the company sells its products and the costs and cost structure of competitors. Keep reading..
Island is a 4.5 mile long barrier island located approximately 9 miles northeast of Wilmington, North Carolina. The private, very exclusive resort island variesin width from 550 to 1,250 feet and is bordered by the Atlantic Ocean on the southeastside and the Middle Sound Channel on the northwest side. Chronic beach erosion hasplagued the beachfront on the southern portion of the island. A map of the barrier islandis provided in Exhibit. Read more
The objective of this course is to help the student to start developing appropriate professional judgment by understanding the theory, concepts, and issues underlying the financial auditing process. The course provides students with an understanding of the role of auditing services in society as well as auditors’ responsibilities and decision-making processes. Read more….
A Case Study about Discounted Cash Flow Approach to Firm Valuation
Abstract: This thesis presents a critical discussion concerning shortcomings of the discounted cash flow (DCF) model as it is used in firm valuation. It focuses on the estimation of the future performance of a firm. The implications of the shortcomings are discussed and methods to overcome them are argued for. The thesis aims at contribute to the ever present process of improving firm valuation. The information used to implement this thesis comes primarily from secondary data sources in the form of financial literature as well as figures from databases. The study was conducted in two parts, one theoretical and one empirical part. In the literature study it was found that one way to improve the DCF model would be to forecaste the future sales of a firm by utilizing a causal method approach (CMA).
Introduction: The activity in stock market exchanges has increased during the last decades. Consequently, so has the stock markets importance to the society. Nowadays, many institutions as well as individuals are heavily invested in the stock market. By investing poorly, large quantities of capital could be lost with quite devastating consequences for the institutions and individuals who are invested in the stock market, but also individuals indirectly dependent on the institutions could be subjected to indirect consequences. This calls for ever increasing sophistication of the tools available to estimate the value of firms on the stock markets.
Case Study about Strategic Planning at the U.S. General Accounting
Introduction: In anticipation of impending domestic and global changes, the U.S. General Accounting Office developed a strategic plan to guide its efforts. The two-year strategic planning process and GAOís Strategic Plan, 2000-2005, prompted a complete reorganization of GAO that began on October 1, 2000. Developing the plan entailed unprecedented effort involving staff at all levels and a wide spectrum of stakeholders.
The plan evolved, in part, in response to a senior management directive to clarify GAO’s mission and objectives. Additionally, managers foresaw the plan as an opportunity to communicate to Congress and the nation GAOís capabilities. Comptroller General David Walker referred to the plan as ” a blueprint for how [GAO] will support Congress and the American people in the future,” and “a vision for strengthening the performance and accountability of the federal government.
Case Study about Strategic Management Accounting Approach: Activity-Based Costing
Abstract: This paper analyses the strategic management accounting concept with an instrumental point of view. We try to show in what extend the ABC developments could be included in a strategic approach of the management accounting and to test if the ABC is a relevant tool to drive the strategy. The first part synthesizes the strategic management accounting developments, which try to improve the Activity-Based Costing method. In the first part, we describe them using the Strategic Management Accounting stream, with a link with cost management and ABC. The second part exposes a taxonomy of the reasons why using the ABC method. In a third part, we confront our developments to the field reality with two case studies.
Introduction: This paper analyses the strategic management accounting concept with an instrumental point of view. We try to show in what extend the ABC developments could be included in a strategic approach of the management accounting and to test if the ABC is a relevant tool to drive the strategy. Our reflexions conduct us to explain that the ABC method seems to be a relevant strategic management accounting tool. Its features should permit a refined analysis of the organizational architecture so that we could understand the link between the operational and strategic management. Then we test this hypothesis using a “state of the art” approach and two case studies.
Case Study about Bharat Heavy Electricals Limited, Bhopal, India: Human resource accounting policies and practices
Abstract: Human resources play the most important part in the development of an enterprise. Human resource accounting (HRA) helps to measure the value of employees, which helps management, take the vital decisions related to human resources in order to increase production. It requires the measurement of the performances of an organisation and the optimum use of the resources under its direct and indirect control.
HRA has been analysed for a profit making heavy engineering public sector company, Bharat Heavy Electricals Limited (BHEL), Bhopal, India. The economic value model of Lev & Schwartz has been used for this study of BHEL to evaluate the HRA. The obtained results are verified by using the T-test. We have examined the correlation between the total human resources and the personnel expenses for their fitness and their impact on production of BHEL.
Case Study of Human Resource Accounting In Infosys
Introduction: Human is the buzzword in the modern knowledge based society. It is the most vital input on which the success & failure of the organization very much depend upon. Starting from the classical economist to modern human capital economist such development is considered to be a continuous process. It is one of the most important ‘M’ associated, which is considered while taken care of 4M’s associated with any organization and they are money, machines, materials and men.
But the most interesting thing is that the first three are recognized and find a place in the assets side of the Balance sheet of the organization. But in case of fourth one ambiguity prevails among the accountant. In spite of its usefulness has been acclaimed in various literature over the decades but its application still remain a susceptible issue, the IASB and the ASB in different countries have not been able to formulate any specific accounting standard for measurement & reporting of such valuable elements.