Thursday, October 31, 2019

Knowledge Management organizational practice Essay

Knowledge Management organizational practice - Essay Example One popular characterization of KM defines it as "the explicit and systematic management of vital knowledge and its associated processes of creating, gathering, organizing, diffusion, use and exploitation, in pursuit of organizational objectives" (Skyrme, 2002, p. 4). Traditionally, two major views have been presented in the scholarly literature on KM, namely: the informational resources management (or management of explicit knowledge) and management, which creates the environment in which people could easily develop and share the knowledge. The key distinction between these two views is that they adopt different views on the importance of the two basic forms of knowledge that exist within any organizational setting. Knowledge is an abstract multilateral concept which encompasses a wide range of facts, specific skills, procedural knowledge etc. Although the elements of knowledge seem to be equally important there have been many attempts to arrange the internal structure of knowledge in a sort of order. One of the most popular classifications of knowledge widely applied in the organisational research is based on the distinction between tacit and explicit knowledge Tacit knowledge as a specific form of knowledge in organizational setting was identified by Polanyi (1962). (Polanyi, 1966). Nonaka and Takeuchi (1995) define tacit knowledge as "... highly personal and hard to formalize. Subjective insights, intuitions and hunches fall into this category of knowledge" (p. 40). In other words, tacit knowledge is knowledge which exists 'within' or inside individuals and, therefore, it is extremely difficult to express, transfer or share with others (Newell et al. 2002, p. 3). By contrast, the explicit knowledge is the form of knowledge that allegedly can be explained by individuals. This implies that the useful knowledge possessed by each individual can be articulated and made explicit (accessible to other members of the organization). Explicit knowledge can then be transferred across the whole organization in codified form (e.g. documents, drawings, procedures, manuals, databases, etc.) with information systems playing the key role in the transfer (Sanchez). Nonaka and Takeuchi (1995) define explicit knowledge as follows: "can be expressed in words and numbers and can be easily communicated and shared in the form of hard data, scientific formulae, codified procedures or universal principles" (p. 40). Explicit knowledge in organizations is commonly stored in databases and other documents; the place of tacit knowledge is in the brains of people. Several knowledge management programmes implemented in the organisational practice paid specific attention to converting tacit knowledge into explicit knowledge believing such approach would result in substantial benefits. However, such attempts mostly proved useless and ineffective because no document, database or other source of explicit knowledge has the potential to adequately replicate the experience accumulated by human being over long years of work. The cognitive

Tuesday, October 29, 2019

Conceptualize and Get Sacked Essay Example for Free

Conceptualize and Get Sacked Essay Conceptualize and Get Sacked HSS Ltd. is a leader in high-end textiles having headquarters in Bangalore. The company records a turnover of Rs 1,000 cr. plus a year. A year back, HSS set up a unit at Hassan (250 km away from Bangalore) to spin home textiles. The firm hired Maniyam as GM-HR and asked him to operationalise ne Hassan unit. Maniyam has a vision. Being a firm believer in affirmative actions, he plans to reach out to the rural areas and tap the potentials of teenaged girls with plus two educational backgrounds. Having completed their 12th standard, these girls are sitting at homes, idling their time, watching TV serials endlessly and probably dreaming abut their marriages. Junior colleges are located in their respective villages and it is easy for these girls to get enrolled in them. But degree colleges are not nearby. The nearest degree college is minimum 10 km and no parents dare send their daughters on such long distances and that too for obtaining degrees, which would not guarantee them jobs but could make searching for suitable boys highly difficult. These are the girls to whom Maniyam wants to reach out. How to go about hiring 1500 people from a large number who can be hired? And Karnataka is a big state with 27 districts. The GM-HR studies the geography of all the 27 districts and zeroes in on nine of them known for backwardness and industriousness. Maniyam then thinks of the principals of Junior Colleges in all the nine districts as contact persons to identify potential candidates. This route is sure to ensure desirability and authenticity of the candidates. The girls are raw hands. Except the little educational background, they know nothing else. They need to be trained. Maniyam plans to set up a training centre at Hassan with hostel facilities for new hires. He even hires Anil, an MBA from UK, to head the training centre. All is set. It is a bright day in October 2006. MD and the newly hired VP-HR came to Hassan from Bangalore. 50 principals from different parts of the nine districts also came on invitation from Maniyam and Anil. Discussions, involving all, go on up to 2 PM. At that time, MD and VP-HR ask Maniyam to meet them at the guest house to discuss some confidential matter. In this meeting, Maniyam is told that his style of functioning does not jell with the culture of HSS. He gets the shock of his life. He responds on expected lines by submitting his papers. Back in his room, Maniyam wonders what has gone wrong. Probably, the VP-HR being the same age as he is, is feeling jealous and insecure since the MD has all appreciation for the concept and the way things are happening. Maniyam does not have regrets. On the contrary he is happy that his concept is being followed though he has been sacked. After all, HSS has already hired 500 girls. With Rs 3,000 plus a month each, these girls and their parents now find it easy to find suitable boys. Questions:- 1. What made the MD change his mind and go against Maniyam? What role might the VP-HR have played in the episode? 2. If you were Maniyam, what would you do?

Sunday, October 27, 2019

American Public University System Characteristics

American Public University System Characteristics Delainah E. Borgonia StarTeam StarTeam is a change management system that was developed by a company named Micro Focus. The systems main intent is to support an enterprise that can service anyone, no matter where they are located. This system is mainly used in my organization as a software development tracking tool that allows you to track the software development lifecycle through the StarTeam Change Request Workflow process. It also allows the program managers and system developers the ability to collaborate on projects and track the change management. Workflow is a term used to describe by which members of an organization completes difficult tasks or projects. This process allows one user to begin a task and pass it along to the next individual for review. Once that user is complete with their portion they will pass the project to another person to complete and finalize the review. This process will continue on until the project is developed, tested and deployed into production. Characteristics of the Users of the System The employees that mainly use the StarTeam system are the requirement managers, project managers, project functionals, analysts and system developers. The requirement and project managers responsibility is to review and validate the change requirements and update the objective scoring module in the Requirement Management System prior to it being imported into StarTeam. The project functional system evaluates the request, then decides if the request should be pursued. Once the project is given the go ahead, the project goes through the analysts for review and accuracy, then to the software developers to write code and develop the system. Features and Usage of the System The StarTeam Change Request Workflow strictly defines the change requests process, enhancing productivity and facilitating management oversight. The workflow also enforces the security it requires to ensure only authorized personnel for specific data can update that data element at the appropriate point in the workflow. All change request in StarTeam are controlled by a workflow. The workflow allows users to track the progress of any change request from when it is entered into StarTeam, to when it is closed. Each department that has a role to perform on the change request is reflected by the Air Force Change Request Status of the change request. Upon logging into StarTeam the first thing you see is a listing of projects broken out by system name. When clicking on a project, the main window that pops up is the Cross-Platform Client also known as the project view window. The Content Perspective view is the default view that you see when you open the Cross-Platform Client. On the Cross- Platform Client view is a series of Menus from the folder tree, upper pane, component tabs, and lower pane, and information tabs. The most important menu we use is the Upper Pane menu that consist of a list of items associated with the folder that is displayed in the folder tree. Even though each folder can contain items of different types of projects, the upper pane displays only one type of data at a time. This is where we are able to see where in the workflow process our project is currently at. The Enterprise workflow process starts at the status of Enter. This is a system status that is invisible to the user. The user is automatically advance to New for standard workflow or Technical Analysis for maintenance workflow. Under the New status the change request is imported from another system call Remedy and the Requirements Management System as well as those created manually inputted directly into StarTeam. For all manually created change requirements, the user will enter the required data using the change request form. For all others that are imported, the data required is captured during the import process and the change request is then displayed with an Air Force Change Request Status of New. The status is reviewed by the Air Force Personnel Operations Agency (AFPOA) Management. Once complete, it is then assigned to an AFPOA Functional and the status is changed to AFPOA Functional. While in the AFPOA Functional status the request is reviewed by the assigned AFPOA Functional. Fields such as the Description, Synopsis, Contact, Info, and Application System are validated at this point. This is where any files in support of the change request are checked into StarTeam and linked to the requirement. If the change request affects multiple systems, the AFPOA Functional will coordinate the creation of additional StarTeam change requests. All change requests and requirements arising from the change request will be linked even if they are in different projects originating from this change request. Within this status there are multiple sub-statuses to allow AFPOA to monitor the change request throughout the AFPOA process. Once the change request has moved through the AFPOA process the change request is ready for the business process owners (BPO) input, the AFPOA Functional will then change the request status to BPO Eval and inform the BPO that it is ready for their coordin ation. In the BPO Eval status the BPO will update the weighted factors and review the data entered thus far to ensure the change request accurately reflects the desired system change. When the BPO has finished the actions required, the status is changed to AFPOA QC and the AFPOA point of contact is notified that the change request is ready for their action. While in the AFPOA QC status the point of contact performs their final validation of the change request before it is made available for the Project Management Office (PMO) to begin their work on the change request. Once the change request is ready for the PMO, the AFPOA QC changes the status to Tech Analysis for the Analyst QCs coordination. In the Tech Analysis status the requirement is assigned to an analyst. The analyst will check-in any supporting documentation and link it to the change request. While in this status there are multiple sub-statuses in order to allow the project management office analysts to monitor the coordination throughout the Technical Analysis process. Once complete, the change request status is changed back to the AFPOA Functional for their approval. At this point, the AFPOA Functional reviews the change request to determine if it is ready for development. When the requirement is ready for development, the AFPOA Functional changes the status to Development. During the development step the change request is assigned to a developer by the Developer QC. The developer will complete the required modifications to the code and any documentation will be checked-in to StarTeam and linked to the change request. Once the requirement is coordinated through the developer the change request is developed and ready for testing. The Developer QC changes the status to Testing and the Test Manager is notified that the change request is ready for testing. Once the testing manager assigns the requirement to a tester, the tester executes the test plan in accordance to the requirement. There are several Test Phases that the requirement goes through before the change request is ready for acceptance testing. Once the requirement is ready for acceptance t esting, the Test Manager changes the status to Acceptance Testing, then the Test Manager notifies the AFPOA QC and notifies them that the change request is ready for action. During the Acceptance Testing step the AFPOA QC changes the Test Phase on the Testing tab to User Acceptance Testing and the Test Status to Testing Ready. After testing is completed successfully, the AFPOA QC changes the Test Status to Passed. When the change request is ready for production the AFPOA QC changes the status to Prod Ready and notifies the analyst that the change request is awaiting their action. In Prod Ready status the analyst prepares the change request and links any files for migration to production. After the migration is complete the analyst will change the status to Released. After all the actions are accomplished for production, the requirements status is changed to Closed and the closure reason to Released. That completes the Enterprise Workflow process and the desired system change is released to all users with the new system capability. Impact of the System The lack of StarTeam would hamper the developmental cycle and dramatically increase the time it would take to implement a new IT system. StarTeam is the glue that holds the entire system together. It documents all of the steps in the development cycle. All comments and notes are store on the StarTeam server. If someone needs to go back and check to see if a step was missing, that information is available for everyone on the project team to look at and evaluate. Life without StarTeam would definitely cause our employees to do everything manually. Doing things manually will dramatically increase the time spent on a project, as well as an increase in cost to pay the employees for the additional time needed to process each project. An increase of employees would also be required in order to keep track of each project status. Doing things this way will cause a tremendous delay and an increase in the cost of any system enhancement submitted, which in turn can cause mission degradation for the Air Force. One negative impact StarTeam has, is that the main users of the system are overly-dependent on the system and are not able to accomplish their job if the system was to go down because every change requirement project they are working on is stored in StarTeam. They have no other tracking mechanism they use to track and store the requirements that are being worked. Conclusion StarTeam is a critical system to the Air Force development cycle because of what we use it for. Ive discussed how we used StarTeam through the enterprise workflow process. The first step is for the BPO to submit a needs requirement statement into the Requirement Management System which then flows into StarTeam. Once the requirements needs statement is submitted, the appropriate functional system manger evaluates the request, then decides if the request should be perused. If the project is given the go ahead, the project moves to the next step in the requirements process which is the project development. While in project development, the software developers begin to write code and develop the system. After the development is complete, the project, then moves into the testing cycle. In the testing cycle, bugs and defects are found and fixed. The main goal of testing is to ensure the system works as designed. Once testing is complete the project is deployed with the new or updated syste m capability. The lack of StarTeam will definitely delay any system enhancement submitted and cause us not to complete our Air Force mission.

Friday, October 25, 2019

Free College Admissions Essays: Leader and Leadership :: College Admissions Essays

College Admissions: How would you Describe a Leader and Leadership    A significant part of effective leadership is the close connection between the leader and the follower, which often determines the success of the leader's mission. Unfortunately, this leader-follower relationship cannot be created according to some simple formula. Young leaders of today face special challenges as they try to communicate and interact with their followers and potential followers. By exploring global perspectives, human diversity, and ethics, young leaders can take yet another step forward in their development and preparation for twenty-first century leadership. Globalization has many implications for leadership today and in the future. Global perspectives are being spread to the farthest points in the world and to the most isolated people. People of different cultures come to the United States daily to live, travel, or engage in business. Leaders must respond to this challenge of globalization so they can effectively reach out to as many people as possible. Opening themselves to the world's changes allows leaders to compare and contrast their culture with the arts, language, beliefs, customs, philosophies, and ways of living of other people. By observing and questioning another culture, leaders can understand the origin of an individual's viewpoints and become more sensitive to the cultural needs of that individual. By continually exposing themselves to other cultures, young leaders can thoroughly develop this global perspective and devote themselves to making connections with the entire world.    On a more individual level, openness to human diversity plays a role in adjusting to the changes of the future. People are discovering that even within cultures, individuals come from diverse backgrounds, have different personalities, and prefer different ways of life. Young leaders can build a stronger relationship with their followers as they enhance their own appreciation for human diversity. As people become more diverse, leaders must learn how to communicate with them as individuals if a vision is to be shared, a cohesive group to be formed, and a goal to be achieved. Despite differences in opinions, the leader and followers can work together to complement each other as they move toward the mission of the group. By exposing themselves to all kinds of situation and communicating with many types of people, young leaders can develop an appreciation of human diversity. Conflicts caused by differences among individuals' personalities and cultures have created many ethical issues, and the number will only increase in this global society.

Thursday, October 24, 2019

Performance Evaluation Using Accounting Information

What is performance evaluation? o Performance evaluations are formal review processes designed to encourage the informal day-to-day practice of performance management, while providing a framework in support of merit pay adjustments, promotion and employment decisions. Evaluating staff performance and helping employees develop their skills are important duties associated with performance management. Performance management begins with supervisors and employees collaboratively setting goals and standards, clearly communicating performance expectations and evaluating the results during the performance evaluation process. o A performance appraisal is a systematic and periodic process that assesses an individual employee’s job performance and productivity in relation to certain pre-established criteria and organizational objectives. o o Performance evaluation tools are quantitatively and qualitatively based. They utilize a scoring system that assesses numerical data relative to prod uctivity, as well as characteristic data that measures the quality of the employee's work.The indicators on performance evaluations include items such as business ethics, innovation, motivation, job knowledge, skills and expertise, communication, teamwork, work quality, professionalism, task management and project completion. Benefits of performance evaluation: †¢ Facilitation of communication: communication in organizations is considered an essential function of worker motivation. It has been proposed that feedback from performance evaluation aid in minimizing employees’ perceptions of uncertainty.Fundamentally, feedback and management-employee communication can serve as a guide in job performance. †¢ Enhancement of employee focus through promoting trust: behaviors, thoughts, and/or issues may distract employees from their work, and trust issues may be among these distracting factors. Such factors that consume psychological energy can lower job performance and caus e workers to lose sight of organizational goals. Properly constructed and utilized performance evaluation has the ability to lower distracting factors and encourage trust within the organization. Goal setting and desired performance reinforcement: organizations find it efficient to match individual worker’s goals and performance with organizational goals. Performance evaluation provides room for discussion in the collaboration of these individual and organizational goals. Collaboration can also be advantageous by resulting in employee acceptance and satisfaction of appraisal results. †¢ Performance improvement: well constructed performance evaluation can be valuable tools for communication with employees as pertaining to how their job performance stands with organizational expectations. At the organizational level, numerous studies have reported positive relationships between human resource management (HRM) practices and performance improvement at both the individual and organizational levels. †¢ Determination of training needs: â€Å"Employee training and development are crucial components in helping an organization achieve strategic initiatives†. It has been argued that for performance to truly be effective, post-appraisal opportunities for training and development in problem areas, as determined by the appraisal, must be offered. Performance can especially be instrumental for identifying training needs of new employees.Finally, performance can help in the establishment and supervision of employees’ career goals. The Role of Accounting Information in Performance evaluation Accounting information consists of all data that a company records from operating activities and reports to the public at the end of a month or quarter. Accounting information is important for investors, analysts and regulators, management, employees, creditor and debtor. This information is also critical for a firm's management because it provides insight in to the company's financial robustness and profitability in the short and long terms.Accounting data frequently is used in performance evaluations, because it is seen as an objective method to evaluate performance. While there are many advantages to using accounting information for this purpose, small-business owners should be careful to understand that there are drawbacks as well. Knowing the pros and cons of using accounting metrics can help business owners choose the right data to use for evaluating employee performance. Budget to Actual Many businesses expect employees to achieve budget targets as part of their overall performance.While the specifics requirements of each employee differ with the position and nature of the company, it is common for employees to be expected to sell a certain number of items, control costs versus a budgeted amount or reduce waste compared with a benchmark. A potential downfall of using budget information for performance evaluation is that employees may be so concerned with making budget targets that they may do so at the cost of other parts of the business. Sales Growth Sales employees and business management frequently are evaluated on the basis of sales growth.Sales growth usually is calculated as the percentage that sales have increased over the prior year. While this metric is commonly used to gauge performance, it does not come without drawbacks. If the general economy changes from year to year, then sales may naturally be increasing or decreasing. For example, if the economy is in decline, then employees may be modeling the correct behaviors, but sales may still be slow. In contrast, if the economy is growing, employees may be receiving the benefits of increasing sales while developing habits that will keep this sales growth from being sustainable in the future.Net Profit In many small businesses, net profit is used as a performance benchmark for the company's manager. Condensing the operations of a business into its sim plest form, net profit measures the amount of profit left after deducting expenses. While profit is important to businesses, focus on profit can have adverse effects on the company in the long term. For example, cutting advertising expenses will grow net profit in the short-term, but in the long-term, potential customers may not know about the company's products. Expense ReductionFor employees in charge of spending, it is common to evaluate performance based upon cost reduction. This can be a useful metric, as each dollar of expense saved translates into a dollar of profit. However, caution must be exercised, because this performance metric does not account for differences in quality. For example, if a purchasing manager is evaluating on reducing the expense of purchased metal for production, he could be rewarded for buying cheaper substandard material. As such, small-business owners should be cautious when using this metric in isolation. Profitability Analysis: Management analyzes profitability by reviewing the statement of profit and loss, also known as statement of income. This statement indicates a company's revenue and expense items. Profit Margin Profit margin measures a company's business performance over a quarter or month and equals net income divided by total revenue. Return on Equity o Return on equity provides an assessment of profitability on owners' capital and equals net income divided by shareholders' equity. Working Capital Working capital is a gauge of a firm's cash availability in the next 12 months and equals current assets minus current liabilitiesBudgeting o A budget helps a business know where money comes in and where it goes out. With accurate accounting, a business owner can make decisions to cut back in certain budget areas to improve the profit potential of the business. Without accounting data, the company would be forced to guess how much money should be allotted to each department or line item. A budget that is updated quarterly g ives a clear picture of where the business stands financially so that smart money management decisions can be made. Investor Relations A public company has a responsibility to report the company's financial standing to stockholders. The accounting department of the business creates a public report for investors with the intent of disclosing all financial data. Good accounting practices helps investors trust the management team as they know exactly the points of financial strength and weakness of their investment. A company that does not maintain accounting information would be in danger of lawsuits, claims of fraud and lose access to relationships that provide capital necessary to running the business.Employee Retention Providing employees with accounting information helps them to make responsible decisions regarding their futures. A business that does not disclose or maintain accurate accounting information would gradually lose credibility with its employees. Employees with retirem ent accounts managed by their employers rely on the financial stability of companies to ensure their employers follow through Planning o Before most businesses even start operations, some level of planning is done to determine the level of success that can be achieved from operations.Businesses will examine current economic trends like consumer demand, market size, and number of competitors. This analysis helps companies determine which industry best suits their goods and services and then focuses on planning for the necessary plants and equipment needed to create successful business operations. Management Decisions o Once a business starts producing goods and services, executive managers must review each level of the company to ensure that each department is functioning at its peak.Some departments may need to be overhauled to re-create a competitive environment that produces high-quality goods and services. Additionally, management will use accounting information to decide if thei r company could improve operations by purchasing a competitor or enter a new market with their existing production facilities. Profitability o The biggest need for accounting information is to determine overall profitability. Sales, costs of manufacturing, inventory, and expenses are all recorded and presented to company management so the company's profit levels can be determined.Financial statements like the balance sheet or statement of cash flows may also be prepared so executive management can assess the value of the company and the cash-generating functions of business operations. Investing o Once companies have a solid understanding of their profitability, they begin to make decisions on investing their cash and retained income from business operations. Executive management will decide what amount of cash should be reinvested into the business and what amount should be invested in interest-bearing securities.Companies will use these securities investments to generate cash outs ide business operations, giving them higher cash flows. Accountants must track these investments to ensure that the company does not take on too much investment risk. Performance Analysis o After the financial transactions of a company are properly recorded and presented in financial statements, accountants will review the information to determine the strength of business operations. Accountants use financial ratios to break down the financial statements and compare them to the industry or competitors.This analysis will help management find weak areas in the company and help allow them to find solutions for strengthening these operations. Accounting Performance Measurement Tools Budgets o Budgeting initiatives help department heads discuss steps to limit the decision-making authority of specific personnel. These include employees running inefficient operations or segment chiefs unable to whittle away at runaway budget deficits. Top leadership may not strip ineffective segment leader s of their operating prerogatives, but budgeting certainly limits how much they can spend.A budget is a list of planned expenses and revenues, a plan that organizations use to spend and save. 2. Pro Forma Statements o Pro forma or projection-based, accounting reports rely on hypothetical data to illustrate how a firm's operations may fare under specific scenarios. These include â€Å"best,† â€Å"average† and â€Å"worst†Ã¢â‚¬â€œ with these concepts indicating the state of the economy or conditions in the company's competitive landscape, among other factors. For example, worst-case-scenario pro forma statements show whether a business could generate enough revenues to sustain itself if economic conditions deteriorate. . Accounting Reports o Management accountants and corporate leaders use accounting reports to measure operating performance. By doing so, they help prevent the dismal financial situation that arises when a firm consistently posts negative numbers. Department heads rely on accounting statements to determine operating weaknesses and prescribe the right medicine to fix ineffective mechanisms. The most important accounting statements are balance sheets, income statements, cash-flow reports and equity statements. Balance heets are also called statements of financial position or statements of financial condition. 4. Financial Ratios o Corporate executives and business-unit chiefs analyze financial ratios to determine processes to tear up and those to keep or expand. Inefficient processes may drive away profit opportunities and jobs, especially if a company must shed its workforce to maintain solvency. Management accounting metrics include net profit margin and return on equity. ROE equals net profit divided by shareholders' equity. Net profit margin equals net income divided by total sales. 5. Technological Tools Organizations rely on various tools to tackle the often thorny issues of management accounting, performance monitoring a nd regulatory compliance. In the modern era, computer systems play a key role in the way firms record and analyze accounting data. Tools used to evaluate management accounting performance include financial analysis software, project management applications and enterprise resource planning programs. Other tools include industrial control software, calendar and scheduling programs, mainframe computers and computer-aided manufacturing applications. 6. Gap AnalysisA gap analysis is a useful method of measuring performance when there are already fixed performance standards. For example, you may have a goal of producing a certain number of units per month. This could be a performance standard. A gap analysis starts with the established performance measure. After looking at the established performance measure, a manager assesses the current performance level. Finally, the manager will calculate the difference between the performance standard and the actual standard. This provides the gap, which is an indication of how close a company has come to its performance standards.The smaller the gap, the better the company's performance. An advantage of this performance measure is that it provides an indication of what needs to be overcome in order to achieve the desired level of performance. LIMITATIONS OF ACCOUNTING INFORMATION IN PERFORMANCE EVALUATION (i)  Ã‚  Ã‚   Accounting information is in terms of money. Accounting provides information on events and transactions that are of financial nature or can be expressed in terms of monetary unit. It does not give information in quantity or size terms of in qualitative matters like usefulness or efficient.Non-monetary events or transactions are completely ignored however important these may be. (ii)  Ã‚  Ã‚   Accounting information is expressed in monetary terms and it is assumed that a monetary unit is stable overtime. This is not true at all with the result that the impact of price level changes is not taken into consider ation. The assets remain undervalued in many cases especially land and building. The direct outcome of this practice is that balance sheet figures of assets are not helpful in measuring the true financial positions of the enterprise. iii)  Ã‚  Ã‚   Accountancy is as yet a inexact science and depends sometimes on a number of estimates, personal judgment etc. Estimates are inherently inaccurate and personal judgments introduce bias in the accounting information. It is not possible to predict with any degree of accuracy the actual useful life of an asset which is done for calculating the depreciation charge. The same is true about provision for doubtful debts. (iv)  Accounting information cannot be used as only test of managerial performance. The focus of the financial information is on profit or income which is only ne small aspect of the annual story of business. Profits for a period of one year can readily be manipulated by suppressing such costs as advertisements, research and development, depreciation and so on. (v)  Ã‚  Accounting information is not neutral or unbiased. Accountants measure income as conventionally defined: revenues less expenses. But accountants consider only selected revenues and expenses. They fail to give recognition to the benefits received by their efforts to clean up the environment, improve community welfare and introduce safety measures for the workers. vi)  Accounting like other disciplines has to follow certain principles which in some cases are contradictory. Current assets are valued on the basis of cost or market price whichever is less following the principle of conservatism. Accordingly the current assets may be valued on cost basis in some year and at market price in another year. In this manner, the rule of consistency is openly violated. (VII) The historical perspective of financial accounting: In order to obtain a recent estimate of an entity’s financial performance, the corporate managers carefully scrutin ize financial accounting information.In retrospect, this information is based on past performance. The information does provide clarity on the monetary issues but does not provide a definite insight into the strategic future; as the future holds various changes in terms of technology, economic situations as well as political scenarios etc. Such factors in relation to accounting are unpredictable. Therefore, a careful balance between historical accounting as well as the future forecasted outlook is required. (VIII).Inability to reflect the true value of strategic management: Various factors such as goodwill and natural circumstances influence the operations of an enterprise; however, these elements are difficult to measure thus, leading to their unavoidable exclusion from financial reports. For example companies depend upon their shareholders, who in turn depend on the performance of the Chief Executive Officers. Although the CEOs may have been hired by the company based upon prior p erformance, their future performances are not reliably measurable as they may continually vary.In the initial stages, it may be impossible to measure whether the CEO’s presence will deter or appeal to the shareholders, which in turn will influence the profitability of the enterprise. (VIX). Measuring Volatility of external factors: Financial accounting information does not take into consideration volatile and ever increasing changes in the natural and commercial environment. Although scarcely measurable in monetary terms, their unstable nature may have adverse effects if included within the financial reports and have a volatile and cosmetic impact upon the earnings of the firm.For example, tariffs on trade, duties and other environmental issues can have significant short-term volatile effects on the organization Conclusively, In order to obtain a recent estimate of an entity’s financial performance, the corporate managers carefully scrutinize financial accounting infor mation. In retrospect, this information is based on past performance. The information does provide clarity on the monetary issues but does not provide a definite insight into the strategic future; as the future holds various changes in terms of technology, economic situations as well as political scenarios etc.Such factors in relation to accounting are unpredictable. Therefore, a careful balance between historical accounting as well as the future forecasted outlook is required. References: El-Shishimi, H. and Drury C. (2001) : Divisional Performance Measuring in UK companies, paper presented to the annual Congress of the European Accounting Association, Athens Esptein, M and Ray, M. J (1997):Eniromental Management to improve corporate profitability, Journal of cost management , November-December, pp 26-34 Kaplan R. S and Norton D.P (2001) â€Å" Transforming the balance scorecard from performance measurement to strategic management : part 2’, Accounting Horizons March, pp87 Kaplan, S. E. , and J. T. Mackey. 1992. An Examination of the association between organizational design factors and the use of accounting information for managerial performance evaluation. Journal of Management Accounting Research (4): 116-130. BABCOCK UNIVERSITY, ILISAN, OGUN STATE Performance Evaluation uses accounting information, limitation reconsidered Emerging issues Assignment BY ADEYEMI EBENEZER ADESUJI MATRIC NO NS/4270

Tuesday, October 22, 2019

My Favorite Dine in Restaurants Essay

I love all different kinds of food. There are a lot of places to go sit and have a nice family dinner or a dinner date with the boyfriend. The best friend also loves to dine in at a small restaurant out in Sturtevant. Its small but the breakfast is very good there. I love to eat but I don’t like the weight gain. I don’t think anyone does really. Food now days have gotten us so overweight with all the fat in food it’s just not as healthy anymore. There are so many different types of restaurants to choose from you can eat different ethnic foods all over the U.S. Mexican restaurant One of my favorites! The enchilada dinner plate is so good. It comes with three enchiladas, rice, beans, sour cream and guacamole. You can go to a authentic restaurant and get some really good ones. The green ones are much tastier then the red ones. They are made with different kinds of peppers. My favorite restaurant for Mexican food is Tacos El Rey. Not sure if it is an authentic one, but the enchilada plate sure is good. They also make beef sirloin tip burritos that are also very good. Made with beans, cheddar cheese and beef tips. They make the burritos pretty big and you can get full of off just one. I would recommend going here to try their Mexican food. Italian Restaurant It’s always nice to have a little pizza sauce once in a while. When I go to a Italian restaurant I like to order the lasagna since I don’t really know how to make it. All those layers of meat, cheese and noodles can really hit the spot. Oh and can’t forget the garlic bread, those go so well together. My daughter usually orders the spaghetti and I always tell her that if she wants spaghetti we could have just stayed home and I could have made it for her. I think she likes to slurp up the noodles and then wipes away the sauce left on her face with her shirt sleeve. But she loves it and it’s cute to see her eat the spaghetti. American restaurant Steak with sautà ©ed mushrooms and A sauce with a cold cherry pepsi sound really good right about now. I haven’t eaten steak for a while. I like it medium rare which is not so common for a Mexican. We usually cook our steak until it is not pink anymore. When I was younger I would get my steaks well done, until my first boyfriend showed me that a medium rare steak is so much juicer. I immediately fell in love with the first bite. I now order them medium rare, with sautà ©ed mushrooms, a loaded baked potatoe and a cherry pepsi. No more overly cooked steaks which is so hard to chew. Think I’ll be going to get that steak sooner than later.