Assignment

 

PART I. How do I plan to:

·        Utilize annual reports to improve performance in my organization?

·        Ensure ethical behavior is followed throughout the organization?

·        Use management accounting tools such as forecasting, strategic planning, and budgeting processes to impact my organization?

·        Use tools like accounting rate of return, payback, net present value, internal rate of return, and discounted cash flows to make important business decisions?

·        Evaluate the performance of the company and what to avoid when comes to performance evaluations?

·        Use transfer pricing to make key decisions?

·        Incorporate the variance analysis tool to evaluate my firm's performance? (Variance analysis compares actual costs with standard costs. The results from a variance analysis are important for helping managers control costs as well as identify areas were organizational performance and efficiency can be improved).

·        Handle the impact of Sunk, Opportunity, and Accounting Costs?

·        Use the Break-Even Analysis tool to predict future profits?

·        Utilize the balanced scorecard method to enhance my organization's current methods of measuring performance?

·        Form strategic alliances and keep them over time?

·        Lastly, how do I plan to use the Triple Bottom Line to make my business more socially responsible?

I must develop an action plan to make the questions above come to life:

-         What steps can I take to ensure the above topics are being used within my business?

-         How can I use the answers to these questions to shape my future and enable me to make a positive difference?

-         How can the content above help me to contribute to social responsibility and positive social change?

-         How can my understanding of the above concepts add value to my role as a leader within an organization?

PART II. What are four ways I can improve profitability for an organization or improve your personal financial resources while demonstrating social responsibility?

For example, I know personally I can increasing my income or reduce my expenses but I need four more professional ideas.

In my response of how I can improve profitability for my organization I must include the following:

• List three specific areas I could focus on while trying to improve the company? Why are those three areas important to focus on? How they will enable me as a leader to demonstrate social responsibility and positive social change. Provide examples.

• Describe how you will measure progress toward your success.

Part III. List 5 examples that demonstrate how I can use accounting practices and tools (like the ones listed in PART I) to build long lasting relationships with my customers?