What is change management and why is it important to an organization?
Category: Business Management
How managerial accounting supports management information systems
Describe how managerial accounting supports management information systems
Utilize managerial accounting techniques and models to support an organization’s strategic plan
Explain how managerial accounting is used to make decisions about short-term business opportunities, capital investments, and evaluating operational performance
Scenario
Your business has been open for a month, and you have prepared an income statement and completed a variance analysis on the data. Now you will meet with investors and a few other internal stakeholders to share your company’s progress over the past month and how it has performed with respect to your cost and budget projections. The investors would like to see the thought process behind your financial strategy and how your company has performed in its first month. They have therefore asked you to present a report that includes the costing and income data from your Project Workbook.
Directions
Submit a detailed report to your potential investors and other stakeholders to explain and defend your costing strategies and to share your business’s performance to date. Your report can be in the form of a PowerPoint presentation or a Word document (based on the templates provided in the What to Submit section). In either format, be sure to effectively communicate with your stakeholders by breaking down concepts and using investor-friendly language to build their trust and confidence. If you choose to do a PowerPoint presentation, you’ll need to include speaker notes for each slide.
Introduction: Provide a short overview of your company and the purpose of this report.
Business Overview: Name your company and describe its business and your vision for its future.
Purpose of the Report: Explain the purpose of the report and describe why the information is important.
Methods and Approach: Explain the management accounting methods you used for generating the information that you are about to share in terms of your adherence to industry standards and the American Institute of Certified Public Accountants (AICPA) code of ethics.
Financial Strategy: Review your original business plan and costing strategies.
Costing System: Justify the use of job order costing for this business. Be sure to compare and contrast the various costing systems you learned about in this course as part of your defense.
Selling Prices: Share and explain the selling prices you established for each of your products. Be sure to reference your cost-volume-profit analysis in your defense.
Contribution Margin: Share and explain your contribution margin per unit. Be sure to reference your cost-volume-profit analysis in your defense.
Target Profits: Identify your break-even points for achieving different target profits. Then explain the target profits you selected for each area of your business. Be sure to reference your cost-volume-profit analysis in your defense.
Financial Statements: Using the information in the Milestone Two Market Research Data Appendix, assess your financial performance to date. (Attached)
Statement of Cost of Goods Sold: Share the statement of cost of goods sold and logically interpret the business’s performance against the provided benchmarks.
Income Statement: Share the income statement and logically interpret the business’s performance against the provided benchmarks.
Retail, Dining And Entertainment
How are technological advances within these areas viewed, and/or utilized differently between generations?
As you read through the articles in our textbook, I encourage you to ponder how you would answer the following questions for yourself, AND how an individual of a different generation (could be older or younger) would respond.
Would you rather shop on-line, or drive to a brick-and-mortar retail store to physically shop? What influenced the reasoning for your preferred choice?
When you go to a restaurant to have a meal, are you more comfortable using the auto-ordering/payment option through the mini-computer at your table, or do you prefer to interact with the waiter/waitress throughout your dining experience? What influenced the reasoning for your preferred choice?
Consider what you do for entertainment. How has technology impacted your response?
Operations manager for MLD Medical Sales.
You are the operations manager for MLD Medical Sales. As part of your tasks, you prepare travel reports for the company’s executives. To save time, you have decided to create a template that can be used by employees that travel. To complete this task, you will create a worksheet based on an Office.com template; you will also use the Macro Recorder and Visual Basic for Application to automate sorting and calculations within the workbook. Your last steps will be to annotate the template to provide user direction and check the document for accessibility and compatibility issues.
Steps to Perform:
Step Instructions Points Possible
1 Start Excel. Download and open the file named EXP22_Excel_Ch12_Cumulative_Budget.xltx. Grader has automatically added your last name to the beginning of the filename. 0
2 Delete the sample values in the range B6:E15 and cell D2. 0
3 Clear all existing data validation in the range A1:K15. 0
4 Record a macro named Sort, be sure to use relative references. Ensure the macro sorts the data in descending order based on Amount (column F). Stop the Macro Recorder and Save the workbook as a Macro-Enabled Template. 0
5 Create a form control button that spans the cell J4:L5. Assign the Sort macro and edit the button text to Sort. 7
6 Use the VBA Editor to create a new module.
Type the following VBA code to create a custom Mileage function then save and exit the VBA Editor (be sure to leave a blank line between each line and before End Function):
Function Mileage (Miles, Rate)
‘This function will calculate mileage reimbursement
Mileage = Miles * Rate 0
Operations Management CASE STUDY: MATRICES
Complete a case study of lululemon (LULU is the ticker symbol). A formal, in-depth case study analysis requires you to utilize the entire strategic management process. Assume you are a consultant asked by the ABC Corporation to analyze its external/internal environment and make strategic recommendations. You must include exhibits to support your analysis and recommendations.
INSTRUCTIONS
Cover page (must include the company name, your name, the date of submission, and a
references page; the document must follow current APA guidelines)
Reference page (follow current APA guidelines)
Matrices, which must be exhibits/attachments in the appendix and not part of the body of
the analysis (The Strategy Club has excellent templates/examples for exhibits and
matrices).
Your paper must include:
- Existing mission, objectives, and strategies.
- A new mission statement (include the number of the component in parenthesis before
addressing that component).
Great mission statements address these 9 components:
Customers: Who are the firm’s customers?
Products or services: What are the firm’s major products or services?
Markets: Geographically, where does the firm compete?
Technology: Is the firm technologically current?
Concern for survival, growth, and profitability: Is the firm committed to
growth and financial soundness?
Philosophy: What are the basic beliefs, values, aspirations, and ethical
priorities of the firm?
Self-concept: What is the firm’s distinctive competence or major competitive
advantage?
Concern for public image: Is the firm responsive to social, community, and
environmental concerns?
Concern for employees: Are employees a valuable asset of the firm? - Analysis of the firm’s existing business model.
The arguments of Chinitz (1990) on whether growth management
Discuss the arguments of Chinitz (1990) on whether growth management is ‘good for the town, bad for the nation’ (Journal of the American Planning Association 56, 3–8); and the response by Fischel (1991) and Neuman (1991). What are the reasons behind smart growth? Please use scripture(s) to support the position and integrate within your post and not at the end of the post.
Discussion On Management
Using one of the topics from your reading or a topic related to management from the It’s the Same, Only Different Links to an external site. and find five additional peer reviewed articles in this area (in addition to any of the readings) that provide context to the topic. Write summary and synthesis that discusses the contributions of the five additional journal articles you selected and how these help to provide additional clarity on the topic.
Below is the Publication It’s the Same, Only Different– https://www.siop.org/Research-Publications/Items-of-Interest/ArtMID/19366/ArticleID/1639/It%E2%80%99s-the-Same-Only-Different
New Trends Join Returning Topics in SIOP’s 6th Annual Top 10 Workplace Trends
Time management is an issue that many of us deal with.
- Time management is an issue that many of us deal with. To help assess your personal time management issues and areas of growth, please first take this brief quiz: https://www.mindtools.com/aavjrgg/how-good-is-your-time-management.Links to an external site. Once you have completed the quiz, react to your “score.” In other words, describe how the “score” or final “results” of the quiz made you feel, what they made you think, etc. about your current time management practices.
- Now think about the lecture on time management. Describe at least 1 tip/tool/strategy you learned from this lecture that could help you address the area(s) in need of improvement identified in the above quiz. Specifically, how could you put this tip/tool/strategy into use to address an issue highlighted in your quiz “score”/”results.”
- Even though we can always improve in terms of our time management skills, we also probably practice at least some good strategies for successfully managing our time. Think about what you currently do well to help maximize or manage your time. This can be ANYTHING (i.e., use a planner, set my clocks a few minutes ahead, make my lunch the night before, etc.). Describe 1 personal tip/tool/strategy that you have found helpful so your classmates may consider utilizing it as well.
Cash Management
As you learned this week, planning for the future is an important role of the financial manager. Developing a financial forecast helps ensure that the financial goals of an organization are met. In particular, cash forecasts are the most important tool for monitoring and controlling corporate cash. Without them, good cash management is simply impossible.
Explain why it would be beneficial to prepare a cash forecast, or a cash budget, for an organization.
Share the best practices you would implement when budgeting for an organization.
Operations Management
to examine the degrees to which institutions have established discrete measures for evaluating the effectiveness of their administrators. For this discussion questions please explore some of these measures and articulate the degree to which these measures can have an impact on the overall effectiveness of the institution.
Discussion Question:
Please provide at least a 250-word response, utilizing references from the text and/or supplemental reading.
In this learning module, you had the opportunity to explore once again, different measures for pursuing higher levels of administrative effectiveness through measurement and evaluation. For this discussion, evaluate the degree to which these processes have an impact on the administrators themselves. How are administrators shaped by these efforts? How do they improve as a result of this work? What is the impact on their work if there is a strong system for evaluation?