Finance and Management Accounting Essay Example | Topics and Well Written Essays - 2250 words

Finance and Management Accounting - Essay Example No commercial entity runs an R & D department to conduct in fructuous basic research ((ICMR), 2003). Management accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information that assists managers in specific decision-making within framework of fulfilling the organizational objectives (The ICFAI University Press, 2004). Like water, this rising tide of data can be viewed as an abundant, vital and necessary resource. With enough preparation, we should be able to tap into that reservoir -- and ride the wave -- by utilizing new ways to channel raw data into meaningful information. That information, in turn, can then become the knowledge that leads to wisdom. The idea is that information, knowledge, and wisdom are more than simply collections. Rather, the whole represents more than the sum of its parts and has a synergy of its own. In an organizational context, data represents facts or values of results, and relations between data and other relations have the capacity to represent information. Patterns of relations of data and information and other patterns have the capacity to represent knowledge. ... Without on-demand access to managed knowledge, every situation is addressed based on what the individual or group brings to the situation with them. With on-demand access to managed knowledge, every situation is addressed with the sum total of everything anyone in the organization has ever learned about a situation of a similar nature. Management accounting --- Importance of Stakeholders In the highly competitive environment, the survival of an organization may depend on how well stakeholders are managed. However, when managers delegate this responsibility of managing the stakeholder interests, there is no systematic way to evaluate their performance. With an evaluation method, such as a report card, managers no longer rely on observations regarding the outcomes of stakeholder management; they receive direct information from their stakeholders and can plan interventions accordingly (Slovensky, 2002). Management planning and control system is related to accounting system. Suitable goals are set based on the information provided by the accountants. Projections of futures sales, expenses, incomes and estimation of profit are made depending on the accounting information. After setting goals while examining alternatives, information about these alternatives comes from accounting system and the accountant is made to combine the data and produce meaningful reports. Though, implementation of chosen alternative is done by the mangers alone without the intervention of accounting system, the accountant is required to collect and summarize data about the success of the chosen plan. The evaluation of performance depends heavily on the accountant accumulates and reports. Though, accounting system is helpful in the process of

Competition Mergers of Companies Essay Example | Topics and Well Written Essays - 750 words

Competition Mergers of Companies - Essay Example It provides communication and entertainment answers to the majority of countries in the European Union. CaixaBank is a financial enterprise that is controlled entirely by the La Caixa Group of companies. It is the parent company of La Caixa Companies that deal with banking and other related activities. It mainly operates in Spain and other European countries and the international presence are felt through strategic alliances with key financial institutions. Banco Santander is the main company of the Banco Group of companies that deals major in international banking. It is active in retail banking, asset management, insurance and investment banking in most of the European Countries. Telefonica, CaixaBank and Banco Santander merge to form a new company. The companies are the notifying parties in the creation of Newco. The notifying companies provide the relevant documents that are used in the merger control of the joint venture. Newco will be active in Spain and it will develop an ecosystem that will be able to offer its members with numerous services. The services will be available online and will be accessible by many individuals online. Each of the Notifying parties will hold equal shareholding in Newco. They will have equal chances to exercise control over the company. It means that they will have a joint control over the Newco. Newco is expected to perform the functions of an economic enterprise in Spain. There will be a management team that will be run the day to day activities of the company. The management team will have access to the resources of the company that include finance and the assets of the company. The company will provide online services to numerous individuals in Spain. The services will include digital advertising services that will provide a chance to individuals in the digital world to advertise their products. The virtual community will be able to able to interact online and provide mobile-based couponing and loyalty services.