Management accounting Essay Example | Topics and Well Written Essays - 1000 words - 4

Management accounting - Essay Example Those are financial perspective, customer perspective, internal perspective and learning and growth perspective. Financial perspective focuses on long term shareholder value. It is driven by cost efficiency and revenue growth. Performance of an organization towards the customer can be assessed on the price, service, brand, availability and quality. Regarding the internal perspective, it is based on the customer management process, operations management process, innovation process and regulatory and social process. For learning and growth, an organization should take care of human and organizational capital along with informational capital. Balance Score Card measure can be of four types. The lead indicator is an early warning measure, mainly used in learning and growth perspective. Lagging measure provides past data e.g. the data of previous year or previous quarter. It may not be reliable for future performance. The third measure is that of efficiency measure. It provides a clear vi ew about the functioning of a process. An example of this is the productivity measure. Last one is that of effective measure. It identifies the lack on the production and subsequently provides instruction on the quality. Management accounting is the process of preparing accounts and present all statistical and financial information required by the managers to take any short term decision. In case of management accounting, the targeted audience is the internal management unlike financial accounting that mainly serves for the external audience such as shareholders, creditors etc. It is also known as managerial accounting (Business Dictionary, n.d.). The management accountants are mainly involved in designing the business process, forecasting and budgeting and monitoring internal control. They even synthesize all the information to derive the economic value (IMA, 2008). Veolia Water is a leading water providing company in North

Response paper to a recent article related to international business Essay

Response paper to a recent article related to international business - Essay Example He was later found dead; an article in the â€Å"Street Wall† describes his death as slow assassination. This is just one among the many adverse challenges that some investors who choose to invest in foreign countries face. In some nations, international businesses, whose home country is America or any other nation that the people in that country have stereotype ideas about often face challenges convincing the law enforcement officers that they are running their business legally according to the laws of that country. Other times it is not necessarily the stereotype ideas, but crude competition strategies by the businesses they met in the area. Some are hit with false acquisitions of corruption, mismanagement and evading taxes. In response to the article investors ought to be extremely selective of the nation they choose to expand their business internationally (Browder 2011). Investors who have had adverse experiences should have the opportunity to air their experiences so as to help other who are looking forward to investing in these foreign investor hostile nations. Many of investors from UK and USA who have had the opportunity to run businesses in Russia, apparently have recorded high levels of un-satisfaction running businesses there. Approximately 21% of them feel that the lack of transparency in Russian business laws and sophisticated hierarchies and legal procedures make it possible for the law enforcement officers to harass them (Meyer, Mudambi & Narula 2011). Russians also tend to rate highly in corruption and some local business owners who feel that these foreigners are a threat liaise with the law enforcement officer to accuse foreign investors falsely of fraud. Of all the complaints these investors raise, the least worrying factors to them are Russian Central Bank Policy, with only 9% complaining about it and corporate culture in Russia, which only about 11% of the investors feel it is a bother. The Russian government, however, insists that i t is doing all it can to improve investor conditions in the country (Hill 2011). Russia is the world second largest oil producer in the world. This is the main economic activity. The government’s plans to diversify to other economic activities are usually challenged since this would lead to the end of the authoritarian governance. This another source of the many challenges foreign investors have to deal with when doing business in Russia. Many complain that the legal and government system, in the country is too bureaucratic, which makes it inefficient to handle the issues these foreign investors face daily. Many complain that for a legal process to go through it takes a long time. For example, the investor in this case had already been deported by the time it was discovered that the allegations against them were a conspiracy plan to get him out of business (Sauvant, Maschek & McAllister 2010). Despite having all these issues the government of Russia seems to be taking steps t owards improving investment environment in the country. The government is encouraging foreign investors to invest in the country with the aim of diversifying and increasing its economic activities. Several earnest foreign investors have set up businesses in the country and have managed to make success stories in the land despite all the