Some groups of customer might be loyal to the company because the product fulfilled their needs and the company ensure its transparency to the customers. Sooner or later, this trust will power up the company image in customer’s mind. Meanwhile, without promoting the new chip, it can be implied as not being honest and truthful to the customer. In the future, it is possible that the customer might know about the ability of the new chip and they might disappointed or dissatisfy toward this issue due to the fact that the chip could save customers' money and reduce the electronic waste simultaneously. However, it is also undeniable that with the new chip, sales of new computer will decline and the revenues of the computer manufacturer will decrease in a short term.
IFRS includes high quality international principles of accounts that are easily understood, transparent, can be implemented and are thoroughly applied, (Shekhar and R.A., 2013). As a result, IFRS is a sign of globalization and also a technology through which globalization is organized, (Alfredson et al, 2005). IFRS is a common international accounting language for business activities so that the financial reports of a company can be easily understood and compared across the world. They are a result of increasing global trade and shareholding and are specifically designed for businesses that operate in many countries across the world, (Shekhar and R.A., 2013). The advantages of using IFRS system includes reduction in the capital cost of a firm, increasing efficiency in resource allocation, increased flexibility of capital, uniform and easy comparability of the financial reports of the companies and decline in the options for earnings management.
The Impact of Information Technology on Management Accounting Management Accounting & Enterprise Resource Planning Systems TABLE OF CONTENTS INTRODUCTION: 4 METHODOLOGY: 5 LITERATURE REVIEW: 6 CONCLUSION 7 REFERENCES: 8 Introduction: It is quite well known by the corporate world, that Information technology deserves to be viewed much more than just business process automation. IT can essentially change the way businesses are run and thus many organizations around the world today are seeking to improve their competiveness by implementing more advance technology such as Enterprise Resource Planning(ERP) systems. It is the integrated management of core business processes arbitrated by software and technology.
Bloomberg terminals are an example. Bloomberg leases proprietary computer terminals with information that is important to financial market participants, particularly bond traders. These users have large budgets and a strong need for the service, so that even though it is not a mass market, Bloomberg can charge high prices and earn tremendous revenue” (King, 1999). The general market for the Bloomberg terminal are Wall Street firms as well as smaller firms to help ease trading. By providing them with at-the-moment data to make informed decisions while taking into consideration the risk and opportunities available to them, this makes the Bloomberg terminal a very useful product.
Managers often rely on accountants to provide them with information as it relates to the best financial principles to deliver success. “Many businesses are coming to recognize accountants for their unique and innovative contributions to an organization’s success.” Bennett Floyd (2014). In the long run many accountants may go ahead and start their own business. Accounting is often said to be the language of business, therefore, they may be able to express a sense of innovation, acquire substantial business skills and generate ideas better than anyone
Assignment 2 Part Two It is very important to note that human resource (HR) function has played a very significant role in organizations. Every organization success depends on the kind of HR they have. Although many new HR concepts have been introduced, the actual roles and duties of HR professionals have not change much until recent years. Pfau and Kay (2002) stated that the business case for human resources management has been accumulating over a period of time, and that their study has proven that higher HR practices determines financial results. It is within this framework of employee involvement to enhanced business performance that Ulrich, Losey and Lake (1997) noted that HR departments are under increased pressure to reconsider, redefine
Companies require highly skilled and competent staff to manage the warehousing processes in contrast to the changing world environment. Technology is another important factor in today’s world. Technology across the world is changing rapidly. It has also revolutionized the warehousing processes. When there was manual supply and demand control of inventory in warehouse it was difficult to keep record of it, now a days computers have made warehousing an easier task.
CHAPTER ONE: INTRODUCTION Peter F. Drucker’s ‘Management: Tasks, Responsibilities and Practices’ book explained clearly the important of the firm’s efficiency as important as the effectiveness. If the effectiveness is the route to the success, then the efficiency is the best vehicle to the profit. Fail to maintain the efficiency may lead to bankruptcy even though that firm is adopting the highest level of best practices (Drucker, 1993). According to Drucker, small changes into the product, technology, process, market and other activities within the business would significantly bring the business closer to the full realization of its potential. Kodak, Motorola and recently Nokia were the examples of fail to realize their potentials.
In relation with this, career choice may be aided by a person’s commercial awareness. In order to determine an advantageous career in the accounting profession, an applicant must possess a high level of commercial awareness. An understanding regarding the business operations and the knowledge of an organization’s external environment is defined as commercial awareness (University of Kent, n.d.). This also provides further knowledge on different careers that increases the consciousness on job opportunities and it is considered as one of the significant criteria for job application. Relative to this, one of the top ten skill shortage of graduates is commercial awareness according to the Association of Graduates Recruiters’ survey (as cited in the University of Kent).
Information Technology has become a necessary tool in today 's organizations. Banks today operate in a highly globalized, liberalized, privatized and competitive environment. In order to survive in this environment banks have to use information technology. Information Technology has introduced new business paradigm. It is increasingly playing a significant role in improving the services in the banking industry.