Archives for September 2014

Dysfunctional Behaviours of Budgetary Control Systems

Dysfunctional behaviours in budgetary control system are those suboptimal decisions that managers make just to ensure that they meet targets and get their bonus. The essence of budgeting which includes motivation of managers will be defeated if proactive action is not taken at both the design stage and implementation stage of budgetary control system. The […]

Automate Accounting but Humanize it| Accountancy Will Lose Human Face if…

The use of IT in accounting and finance is continuing to grow as business leaders constantly strive for excellence in business processes. And there is always a danger of over doing anything that we do in life. Virtually every accounting and business functions are now automated which is a good thing but are being misinterpreted […]

Cost Accounting in the New Era

Cost accounting in the new era has completely moved away from the simple act of identifying direct costs, indirect costs and overhead, then using the traditional cost allocation method to allocate the costs. I remember the good old days when cost accounting was all about collecting prime costs and overhead costs, apply some simple arithmetic […]

What is Strategic Management Accounting? Meaning and Characteristics

Strategic management accounting and control is a relatively new paradigm in the field of management accounting. This new perspective of management accounting and control system was made popular as a result of the criticism levelled on the traditional management accounting by both academia and professionals in the late 1980s and early 1990s. The intense competition […]

How to Write Effective Business Requirements as an Accountant

Nowadays, accountants are called upon by businesses to play significant role in system migration and other major business turnaround programmes.  Business requirements are those deliverables that a project must convey if value is to be added, without it, measuring the success or failure of a project will be difficult. Organizations constantly challenge finance professionals to […]

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