Developing yourself Essay Example for Free

Developing yourself Essay Findings: The CIPD profession map is a tool used to support the profession as a whole to develop products and services, yet it also accelerates the professional development of individuals. The map was created and is used by individuals and organisations; it’s a vital resource if you are working or connected in the HR profession. Whatever sector and/or size of an organisation the professional map is a great help, whether you are a specialist or generalist in talent, reward, learning development, employee relations and engagement. There are three key components to the map, which are: professional areas, behaviours and bands and transitions. The core professional areas show how a HR professional should think and look at tasks, then how to influence the relevant employees to the best outcome. There are then eight further areas surrounding the professional areas and when they are all combined, create the role of a great hr employee. Each area is essential to any business. The eight areas are: service delivery and information, organisation design, organisation development, resourcing and talent planning, learning and development, performance and reward, employee engagement, employee relations and service delivery and information. Once professional HR areas are covered, behaviours are the next vital key to becoming an effective HR professional. There are eight behaviours and they require an employee to be a strong character that leads by example and is confident when advising and influencing all levels of staff from entry to high level. Each behaviour is divided into four bands of professional competence. Each behaviour also lists a number of contra indicators which illustrate negative behaviour. Comment on the activities and knowledge specified within any 1 professional area, at either band one or band two identify those you consider most essential to your own or other identified hr role. Conclusion: A HR practitioner should ensure the services they provide are timely and effective. Different customers have different needs in a HR role and you need to prioritise conflicting needs. Shown below are different customers to  a HR practioner and examples of what needs they may have. Managers look to human resources for sound business advice on how to review, analyse and address people issues. They expect the HR services to be timely and accurate. Supervisors expect human resources to be available on an as-needed basis to help solve people issues. They expect, and frequently demand, help interpreting company policies, expediting personnel matters and preparing or completing paperwork. Most importantly, supervisors expect to learn from their interactions with human resources in order for them to return to their work unit and handle personnel matters. Associates look to human resources to provide, explain or confirm information about company policies and procedures. They expect human re sources to be an empathetic ear to their concerns and to help them solve work-related problems. They expect human resources to anticipate problems and to provide sound recommendations to management. To the applicant, human resources are the company. Applicants expect accurate information about employment opportunities, fair consideration of their qualifications and courteous treatment. An example of how you would prioritise conflicting needs is shown below: When in a HR role a supervisor may need a report by the end of the day completing, a manager may need you to sort a conflict between two members of staff and a member of staff may be dealing with bereavement and is upset. You would then organise how and who or what task is the priority and arrange how it will all be dealt with or completed. In this situation I would delegate the report to another member of staff, I would then arrange a time to address the issues between the two conflicting members of staff then I would then deal with the member of staff with bereavement as I would see them as the highest priority. Then all issues and tasks should be completed/ resolved by the end of the day. This shows how you have an empathetic ear to concerns, you are helping solve work related problems and you are completing tasks under a time scale with organisation and delegation. Communication methods: Employee communication is about the HR aspects of communication from management to employees and of course employees to management. The first aspect is downward communication this is where management communicate to employees the second aspect is upward communication and this is when  employees communicate to management. Managers have to communicate with employees all the time that they are at work it is impossible not to, plentiful communication with employee’s has been shown to be linked to good company performance. Communication could be formal or informal. Smaller company’s often rely on informal methods and have few formal methods of communication with employees. In some cases they prefer to encourage social events for promoting mutual communication. Shown below are some examples of communication: Downward communication: Upward communication: Workforce briefings for all or part of the workforce on key issues Employee attitude surveys Quality circles, regular meeting with all or part of the workforce Suggestion schemes Appraisal interviews Employee forums Newsletters, electronic circular and dvds Project teams With communication you can come across issues these are: Subject What is communicated is the most important issue. HR can send a message to employees only on subjects which they choose to communicate with them. For example, certain information may not be passed on to certain employees because the organisation may not want to disclose this information. Quality You do not want to give too much information as employees may have problems digesting it. You need to make sure the quality of communication is high. Depth The depth of the information must be fit for purpose for example it may be too detailed and confusing for those who it is aimed at as it may have initially been designed for a management circular, re-worked slightly and the circulated to part time workers. Receptiveness Employees should feel that they are being listened to; they may voice their  ideas but feel that they are not listened to, and this would then create a negative effect amongst them and actually demotivating them. Action on their views may or may not be considered a good idea, but employees should then receive feedback on their views. Regularity Employees learn to trust the communication if it is regular and tells them important information. Regular communication means it is less likely rumours which are incorrect circulate in workplaces. A balance must be made between giving people information so regularly that they are swamped with it, and too infrequently so that uncertainty arises. Timing Information may be released when leaked information has already reached employees as rumour and it may then be treated with contempt. Information may be released too early or too late. A good example of this is redundancy information. Employees themselves are sensitive when they read about their own redundancy in the newspaper or see it on the news. You should inform employees of this information at the relevant time so they find out from you first. In the HR role you are likely to have an important role in building managers presentational and communication skills, since operational managers are often appointed mainly for other skills that they have, they may need help in developing their interpersonal skills. HR professionals have people issues at the forefront of their minds, they may advise on where and when sensitive meetings such as appraisals or disciplinary meetings might be best held. HR professionals can act as advisors to individual operational managers on how to communicate to employees on issues such as their pension or legal rights, or alternatively communicate directly with the individual employee’s on such subjects. These matters are of vital importance to employees, for whom areas like pensions and benefits packages are central issues. Getting communication right in these areas is therefor also at the centre of HR professional jobs. HR professionals sometimes have to advise both senior and operational managers on employee’s feelings on different subjects. It is usually the HR professionals who are called on to run or at least source and oversee employee attitude surveys, forums etc. to some extent they may also try to act as employee advocates in order to maintain employee commitment and motivation. HR has a key role to play in improving  communication including by providing training and coaching for other managers and workers which can improve their informal and formal communication. Effective Service delivery is a vital key in a HR role shown below are the key points of how to achieve it to a high standard. Delivering service on time: Delivering service on a budget: Dealing with difficult customers, Handling and resolving complaints: When dealing with difficult customers that may have a complaint or issue there are certain ways to deal with the situation so that it does not escalate and gets resolved. Firstly you need to identify the complaint and get as many facts together as possible. You always need to listen and empathize whilst clarifying that you both understand. Then you would log the complaint and investigate why, who, how and what evidence. Once that is achieved I think it is best to identify an end goal so there is something to aim for and the issue should then be resolved. When trying to resolve the situation always keep the complainant updated with any progress and also make sure you are following the company’s policy and try and keep it to the smallest time frame. Once the situation is resolved I would then try to investigate why it happened and how to prevent re-occurrence. In a HR role I believe you should be committed to treating customers with courtesy and respect at all times, responding promptly to all enquiries made by telephone, email, post, fax, or in person, ensuring accuracy of administration, respecting and maintaining confidentiality, equality of opportunity in employment, updating skills through continuous professional development, regularly and systematically seeking, listening to and acting upon the views of customers. I think a HR function should obtain much more thorough feedback from its internal customers these are line managers, senior managers and employees. This should cover both what they need from HR, and their user experience of current services. Such feedback, as this study illustrates, can generate a clear overview or ‘footprint’ of the HR function in a particular organisation. It can provide fresh insights and help the HR function to focus its efforts in areas that add value to the  business. Bibliography: http://www.cipd.co.uk/cipd-hr-profession/profession-map/professional-areas/service-delivery-information.aspx

Financial Ratios, Discriminant Analysis and the Prediction of Corporat

The article Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy was written in 1968 by Edward I. Altman. The purpose of the article is to address the quality of ratio analysis as an analytical technique. At the time some academicians were moving away from ratio analysis and moving toward statistical analysis. The article attempted to determine if ratio analysis should be continued, eliminated and replaced by statistical analysis or serve together with statistical analysis as cofactors in financial analysis. The example case used by the article was the prediction of corporate bankruptcy. Ratios traditionally measure the most important factors such as liquidity, solvency and profitability, as well as other measures of solvency. Different studies have found various ratios to be the most efficient indicators of solvency. Studies of ratio analysis began in the 1930’s, with several studies of the concluding that firms with the potential to file bankruptcy all exhibited different ratios than those companies that were financially sound. Among the study’s findings were that the deciding factor of the predictor of bankruptcy should not be only a few ratios, as the measure of a company’s financial solvency may differ as the firm’s situations differ. The important question is to which ratios are to be used and of those ratios chosen, which ratios are given priority weight. After discussions, a multiple discriminant analysis (MDA), a statistical technique, was chosen. MDA was used primarily to classify and make prediction in problems where the dependent variable was in qualitative form, e.g. bankrupt or non-bankrupt. The primary advantage of MDA was its ability to sequentially examine individual ch... ...el such as: purpose of the loan, maturity of the security pledged, the history of the client with the company and the unique characteristics that the bank’s customers might have. It was the conclusion of the author that financial ratios when combined with statistical analysis still remain a valuable tool. The theoretical conclusion was that ratios used within a multivariate framework take on a more influential role than when used in isolation. The discriminate model was very accurate in the initial sample of 66 firms, correctly predicting 94 percent of the original bankrupt firms. The potential suggested used of the model included: business credit evaluation, investment guidelines and internal control procedures. The MDA model also showed potential to ease some problems in the selection of securities of a portfolio but further investigation was recommended.

Management Accounting and Management Decisions

Management Accounting, Cdn. 6e (Horngren/Sundem/Stratton/Beaulieu) Chapter 1 Management Accounting and Management Decisions 1) Both internal managers and external parties use accounting information. Answer: TRUE Diff: 2 Type: TF Page Ref: 16 Objective: 8 2) Internal accounting reports must follow generally accepted accounting principles and account for assets at historical cost. Answer: FALSE Diff: 2 Type: TF Page Ref: 16 Objective: 8 3) Organizations that do not make or sell tangible goods are called service organizations. Answer: TRUE Diff: 1 Type: TF Page Ref: 7Objective: 3 4) The cost-benefit balance is the primary consideration in choosing among accounting systems and methods. Answer: TRUE Diff: 1 Type: TF Page Ref: 2 Objective: 3 5) Planning refers to setting objectives, implementing plans, and evaluating objectives. Answer: FALSE Diff: 1 Type: TF Page Ref: 3 Objective: 2 6) A budget is a quantitative expression of a plan of action. Answer: TRUE Diff: 1 Type: TF Page Ref: 2 Obj ective: 3 7) Management by exception involves a detailed analysis of all deviations from planned performance regardless of the amount.Answer: FALSE Diff: 1 Type: TF Page Ref: 2 Objective: 3 8) Sales growth occurs in the mature market stage of product life cycle. Answer: FALSE Diff: 1 Type: TF Page Ref: 9 Objective: 4 9) Line authority is authority exerted downward over subordinates. Answer: TRUE Diff: 1 Type: TF Page Ref: 12 Objective: 5 10) Line departments support or service staff departments. Answer: FALSE Diff: 1 Type: TF Page Ref: 12 Objective: 5 11) According to the Financial Executives Institute, the controller's function is to obtain both short-term and long-term loans.Answer: FALSE Diff: 1 Type: TF Page Ref: 14 12) The CMA program focuses on management accounting and its role in Canadian business. Answer: TRUE Diff: 1 Type: TF Page Ref: 16 Objective: 8 13) The factors causing changes in management accounting today include increased global competition, technological advances and increased production by Canadian companies. Answer: FALSE Diff: 1 Type: TF Page Ref: 16 Objective: 8 14) The essence of the just-in-time philosophy is to eliminate waste. Answer: TRUE Diff: 1 Type: TF Page Ref: 16 Objective: 8 5) The Society of Management Accountants of Canada (SMAC) has developed standards of ethical conduct for management accountants, which include standards of competence, confidentiality, integrity and objectivity. Answer: TRUE Diff: 1 Type: TF Page Ref: 20 Objective: 9 16) A survey of managers selected which of the following business areas as the most common starting-point for future managers? A) Accounting. B) Finance. C) Legal environment of business. D) Computers in business. Answer: A Diff: 1 Type: MC Page Ref: 2 Objective: 1 17) Management accounting refers to accounting information developed for A) shareholders.B) governmental authorities. C) managers within an organization. D) loan officers. Answer: C Diff: 1 Type: MC Page Ref: 16 Objective: 8 18) __ ______ is a formal mechanism for gathering, organizing, and communicating information about an organization's activities. A) An accounting system B) Scorekeeping C) Management accounting D) Attention directing Answer: A Diff: 1 Type: MC Page Ref: 3 Objective: 2 19) ________ refers to accounting information developed for users within an organization. A) An accounting system B) Scorekeeping C) Management accountingD) Financial accounting Answer: C Diff: 1 Type: MC Page Ref: 3 Objective: 2 20) ________ is the accumulation and classification of data. A) An accounting system B) Scorekeeping C) Management accounting D) Attention directing Answer: B Diff: 1 Type: MC Page Ref: 3 Objective: 2 21) ________ means reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities. A) Scorekeeping B) Attention directing C) Problem-solving D) None of the above Answer: B Diff: 1 Type: MC Page Ref: 3 Objective: 2 2) ________ i s the aspect of accounting that quantifies the likely results of possible courses of action and often recommends the best course to follow. A) Scorekeeping B) Attention directing C) Problem-solving D) None of the above Answer: C Diff: 1 Type: MC Page Ref: 3 Objective: 2 23) The codes of conduct for integrity include all of the following EXCEPT A) avoiding actual or apparent conflicts of interest. B) refusing to advise or assist with the commission of fraud. C) recognizing and communicating professional limitations. D) communicating information subjectively. Answer: DDiff: 1 Type: MC Page Ref: 20 Objective: 9 24) A clerk prepares a monthly report comparing the actual phone bill with the expected phone costs. This activity would be classified as A) problem-solving. B) scorekeeping. C) planning. D) attention directing. Answer: D Diff: 1 Type: MC Page Ref: 3 Objective: 2 25) Broad guidelines and detailed practices that together make up accepted accounting practice at a given time are re ferred to as A) GAAS. B) accounting conventions. C) GAAP. D) Revenue Canada regulations. Answer: C Diff: 1 Type: MC Page Ref: 16 Objective: 8 26) Service organizationsA) sell tangible goods. B) are not wholesalers. C) are considered manufacturers. D) must be profit-seeking. Answer: B Diff: 1 Type: MC Page Ref: 7 Objective: 3 27) A characteristic of service organizations is that A) labour is intensive. B) output is easy to define. C) major inputs and outputs can be stored. D) plant and equipment costs are high in proportion to labour costs. Answer: A Diff: 1 Type: MC Page Ref: 7 Objective: 3 28) The watchword for the installation of systems in service industries and nonprofit organizations is A) maximize. B) simplicity. C) constraints. D) complexity.Answer: B Diff: 1 Type: MC Page Ref: 7 Objective: 3 29) Which of the following is a characteristic of both profit-seeking and nonprofit service organizations? A) Labour is intensive. B) Output is usually difficult to define. C) Major inpu ts and outputs cannot be stored. D) All of the above are characteristics. Answer: D Diff: 1 Type: MC Page Ref: 7 Objective: 3 30) Financial accounting is constrained by GAAP. Management accounting is constrained by A) GAAS. B) the cost-benefit balance. C) Revenue Canada. D) the controller. Answer: B Diff: 1 Type: MC Page Ref: 16 Objective: 8 1) The primary consideration in choosing among accounting systems and methods is A) simplicity. B) behavioural issues. C) cost-benefit balance. D) computerization. Answer: C Diff: 1 Type: MC Page Ref: 3 Objective: 2 32) An accounting system should provide accurate, timely budgets and performance reports in a form useful to A) shareholders. B) bankers. C) Revenue Canada. D) managers. Answer: D Diff: 1 Type: MC Page Ref: 3 Objective: 2 33) ________ is (are) a quantitative expression(s) of a plan of action. A) A budget B) Performance reports C) Variances D) Management by exception Answer: ADiff: 1 Type: MC Page Ref: 3 Objective: 2 34) ________ prov ide(s) feedback by comparing results with plans and by highlighting deviations from plans. A) A budget B) Performance reports C) Variances D) Management by exception Answer: B Diff: 1 Type: MC Page Ref: 3 Objective: 2 35) ________ is (are) deviations from plans. A) A budget B) Performance reports C) Variances D) Management by exception Answer: C Diff: 1 Type: MC Page Ref: 3 Objective: 2 36) ________ concentrate(s) on areas that deviate from the plan and ignore(s) areas that are presumed to be running smoothly. A) A budgetB) Performance reports C) Variances D) Management by exception Answer: D Diff: 1 Type: MC Page Ref: 3 Objective: 2 37) Launching a new product line is an example of A) decision making. B) planning. C) controlling. D) organization. Answer: A Diff: 1 Type: MC Page Ref: 3 Objective: 2 38) Answering the following questions: When is dinner? Who is cooking it? is an example of A) planning. B) controlling. C) budgeting. D) analyzing. Answer: A Diff: 1 Type: MC Page Ref: 3 Objective: 2 39) Cooking dinner and tasting the food are examples of A) planning. B) controlling. C) budgeting.D) analyzing. Answer: B Diff: 1 Type: MC Page Ref: 3 Objective: 2 40) Planning determines action, action generates feedback, and feedback influences A) reports. B) accounting systems. C) further planning. D) deviations. Answer: C Diff: 1 Type: MC Page Ref: 3 Objective: 2 41) A quantitative expression of a plan of action is a A) variance. B) performance report. C) control. D) budget. Answer: D Diff: 1 Type: MC Page Ref: 3 Objective: 2 42) Actual results are compared to budgeted amounts in a A) performance report. B) financial statement. C) production report. D) flexible report.Answer: A Diff: 1 Type: MC Page Ref: 3 Objective: 2 43) Management by exception means management concentrates on A) significant activities proceeding as planned. B) significant deviations from expected results. C) insignificant activities proceeding as planned. D) insignificant deviations from expected results. Answer: B Diff: 1 Type: MC Page Ref: 3 Objective: 2 44) A synonym for deviation is A) planned. B) systematic. C) variance. D) reported. Answer: C Diff: 1 Type: MC Page Ref: 3 Objective: 2 45) A significant unfavourable variance A) should be ignored because of materiality.B) could not result from careless budgeting. C) is the result of proper planning. D) should be analyzed, and measures should be taken to correct the situation. Answer: D Diff: 1 Type: MC Page Ref: 3 Objective: 2 46) The product development stage in a product's life cycle corresponds to A) no sales. B) sales growth. C) stable sales level. D) low and decreasing sales. Answer: A Diff: 1 Type: MC Page Ref: 9 Objective: 4 47) The introduction to market stage in a product's life cycle corresponds to A) no sales. B) sales growth. C) stable sales level. D) low and decreasing sales. Answer: BDiff: 1 Type: MC Page Ref: 9 Objective: 4 48) The mature market stage in a product's life cycle corresponds to A) no sales. B ) sales growth. C) stable sales level. D) low and decreasing sales. Answer: C Diff: 1 Type: MC Page Ref: 9 Objective: 4 49) The phase-out-of-product stage in a product's life cycle corresponds to A) no sales. B) sales growth. C) stable sales level. D) low sales to no sales. Answer: D Diff: 1 Type: MC Page Ref: 9 Objective: 4 50) The various stages through which a product passes are called the A) product life cycle. B) production plan. C) market analysis. D) product initiative.Answer: A Diff: 1 Type: MC Page Ref: 9 Objective: 4 51) Product life cycles A) are the same for all products. B) must be considered to effectively plan for production. C) are computerized bicycles. D) have nothing to do with product profitability. Answer: B Diff: 1 Type: MC Page Ref: 9 Objective: 4 52) Authority exerted downward over subordinates is referred to as A) line authority. B) staff authority. C) general authority. D) specific authority. Answer: A Diff: 1 Type: MC Page Ref: 12 Objective: 5 53) Authorit y to advise but NOT command is called A) line authority. B) staff authority.C) general authority. D) specific authority. Answer: B Diff: 1 Type: MC Page Ref: 12 Objective: 5 54) An example of a line department at a jewelry manufacturer is the A) accounting department. B) finance department. C) maintenance department. D) sales department. Answer: D Diff: 1 Type: MC Page Ref: 12 Objective: 5 55) According to the Financial Executives Institute, one function of controllership is A) investments. B) short-term financing. C) provision of capital. D) reporting and interpreting. Answer: D Diff: 1 Type: MC Page Ref: 14 56) The top accounting officer in an organization is oftenA) the controller. B) the treasurer. C) the CFO. D) the CEO. Answer: A Diff: 1 Type: MC Page Ref: 14 57) ________ is mainly concerned with the company's financial matters. A) The controller B) The treasurer C) The secretary D) None of the above Answer: B Diff: 1 Type: MC Page Ref: 14 58) ________ is the designation that provides the greatest orientation toward management accounting. A) CIA B) CMA C) CEO D) CGA Answer: B Diff: 1 Type: MC Page Ref: 14 59) According to the Financial Executives Institute, one function of treasurership is A) planning for control.B) protection of assets. C) investor relations. D) economic appraisal. Answer: C Diff: 1 Type: MC Page Ref: 14 Objective: 6 60) Chartered Accountants are A) internal auditors. B) management accountants. C) external auditors. D) clerical accountants. Answer: C Diff: 1 Type: MC Page Ref: 16 Objective: 8 61) The largest Canadian association of professional accountants whose major interest is management accounting is the A) Canadian Institute of Chartered Accountants. B) Certified General Accountants of Canada. C) Government Accounting Institute. D) Society of Management Accountants of Canada.Answer: D Diff: 1 Type: MC Page Ref: 16 Objective: 8 62) A philosophy to eliminate waste by reducing the time products spend in the production process and elim inating the time that products spend on activities that do NOT add value is A) computer-integrated manufacturing. B) just-in-time. C) better late than never. D) added value tax. Answer: B Diff: 1 Type: MC Page Ref: 16 Objective: 8 63) Systems that use computer-aided design and computer-aided manufacturing, together with robots and computer-controlled machines are called A) just-in-time systems. B) robotic-computer systems.C) computer-integrated manufacturing systems. D) manufacturing-robotic systems. Answer: C Diff: 1 Type: MC Page Ref: 16 Objective: 8 64) Which of the following factors is causing changes in management accounting today? A) Shift from a manufacturing-based to a service-based economy. B) Increased global competition. C) Advances in technology. D) All of the above are factors. Answer: D Diff: 1 Type: MC Page Ref: 16 Objective: 8 65) Systems that use CAD and CAM together with robots and computer-controlled machines are called A) JIT. B) CMA. C) CIM. D) none of the above .Answer: C Diff: 1 Type: MC Page Ref: 16 Objective: 8 66) Below is a statement from the Code of Professional Ethics for the Society of Management Accountants. â€Å"Maintain at all times independence of thought and action. † It is an example of A) competence. B) confidentiality. C) integrity. D) objectivity. Answer: D Diff: 1 Type: MC Page Ref: 20 Objective: 9 67) Management accountants are similar to CAs and CGAs in that they A) give opinions on financial statements. B) are licensed by the Canadian Institute of public accountancy. C) adhere to codes of conduct.D) are independent of the company they work for. Answer: C Diff: 1 Type: MC Page Ref: 16 Objective: 8 68) The Society of Management Accountants has adopted a set of standards of professional ethics which includes codes of conduct regarding all of the following EXCEPT A) competence. B) independence. C) integrity. D) confidentiality. Answer: B Diff: 1 Type: MC Page Ref: 20 Objective: 9 69) Which of the following individu als would likely NOT be users of management accounting reports? A) company presidents B) university deans C) bankers D) chief physicians Answer: CDiff: 2 Type: MC Page Ref: 16 Objective: 8 70) Which of the following statements about management accounting is FALSE? A) It is concerned with how measurements and reports will influence managers' daily behaviour. B) It is less sharply defined than financial accounting. C) Its primary users are organizational managers at various levels. D) It is constrained by generally accepted accounting principles. Answer: D Diff: 2 Type: MC Page Ref: 16 Objective: 8 71) Which of the following statements about ethical dilemmas faced by management accountants is FALSE?Ethical dilemmas A) are clear-cut. B) involve conflict between two or more ethical standard. C) require individual integrity and judgment. D) require the application of ethical standards. Answer: A Diff: 2 Type: MC Page Ref: 20 Objective: 9 72) Which of the following statements about line a uthority is TRUE? Line authority A) is similar to staff authority. B) is indirectly related to the basic activities of an organization. C) is exerted upwardly from subordinates. D) includes the authority to command action. Answer: D Diff: 1 Type: MC Page Ref: 12 Objective: 5 3) Broad concepts or guidelines and detailed practices, including all conventions, rules, and procedures that together make up accepted accounting practice at a given time. Answer: Generally accepted accounting principles Diff: 1 Type: SA Page Ref: 16 Objective: 8 74) The person from whom the controller derives authority to set accounting procedures. Answer: The company president Diff: 1 Type: SA Page Ref: 12 75) Weighing known costs against probable benefits, the primary consideration in choosing among accounting systems and methods. Answer: Cost-benefit balance Diff: 1 Type: SA Page Ref: 11Objective: 7 76) A quantitative expression of a plan of action, and an aid to coordinating and implementing the plan. Answ er: Budget Diff: 1 Type: SA Page Ref: 2 Objective: 2 77) Deviations from plans. Answer: Variances Diff: 1 Type: SA Page Ref: 2 Objective: 2 78) Concentrating on areas that deserve attention and ignoring areas that are presumed to be running smoothly. Answer: Management by exception Diff: 1 Type: SA Page Ref: 2 Objective: 2 79) Authority exerted downward over subordinates. Answer: Line authority Diff: 1 Type: SA Page Ref: 12Objective: 5 80) Authority to advise but not to command. It may be exerted downward, laterally, or upward. Answer: Staff authority Diff: 1 Type: SA Page Ref: 12 Objective: 5 81) The largest Canadian professional organization of accountants whose major interest is management accounting. Answer: Society of Management Accountants Diff: 1 Type: SA Page Ref: 16 Objective: 8 82) A philosophy to eliminate waste, by reducing the time products spend in the production process and eliminating the time that products spend on activities that do not add value. Answer: Just-in-t ime philosophyDiff: 1 Type: SA Page Ref: 16 Objective: 8 83) Describe the major users of accounting information. Answer: In general, users of accounting information fall into three categories: (1) Internal managers who use the information for short-term planning and controlling routine operations. (2) Internal managers who use the information for making nonroutine decisions and formulating overall policies and long-range plans. (3) External parties, such as investors and government authorities, who use the information for making decisions about the company. Diff: 1 Type: ES Page Ref: 2 Objective: 1 4) Explain the cost-benefit and behavioral issues involved in designing an accounting system. Answer: The cost-benefit balance, weighing known costs against probable benefits, is the primary consideration in choosing among accounting systems. The system's value must exceed its cost. In addition, the system's effects on the behaviour of managers should also be considered. The system must p rovide accurate, timely budgets and performance reports in a form useful to managers. Diff: 1 Type: ES Page Ref: 14 Objective: 7 85) Distinguish between line and staff roles in an organization, and give an example of each.Answer: Line authority is authority exerted downward over subordinates. Staff authority is authority to advise but not to command. It may be exerted downward, laterally, or upward. Line departments are directly responsible for conducting the basic mission of the organization, that is, producing and selling a product or service. Staff departments are indirectly related to these basic activities through servicing and supporting the line departments. An example of a line role would be the sales executives, whereas a staff role would include the top accounting executive.Diff: 1 Type: ES Page Ref: 12 Objective: 5 86) Contrast the functions of controllers and treasurers. Answer: The treasurer is concerned mainly with the company's financial matters such as investor relat ions, provision of capital, short-term financing, credits and collections, and banking. The controller is concerned with operating matters such as reporting and interpreting, evaluating and consulting, tax administration, government reporting, and protection of assets. Diff: 1 Type: ES Page Ref: 1 87) Explain a management accountant's ethical responsibilities.Answer: A certified management accountant must adhere to a code of conduct regarding competence, confidentiality, integrity, and objectivity developed by the Society of Management Accountants. An unethical act is one that violates the ethical standards of the profession. Management accountants have an obligation to the organizations they serve, their profession, the public, and themselves to maintain the highest standards of ethical conduct. Diff: 1 Type: ES Page Ref: 20 Objective: 9 88) Explain the role of budgets and performance reports in planning and control.Answer: Budgets and performance reports are essential tools for pl anning and control. Budgets result from the planning process. Managers use them to translate the organization's goals into action. A performance report compares actual results to the budget. Managers use these reports to monitor, evaluate, and reward performance and, thus, exercise control. Diff: 3 Type: ES Page Ref: 3 Objective: 2 89) Discuss the role that management accountants play in the company's value-chain functions. Answer: Management accountants play a key role in planning and control.Throughout the company's value chain, management accountants gather and report cost and revenue information for decision makers. Diff: 2 Type: ES Page Ref: 9 Objective: 4 90) Identify current trends in management accounting. Answer: Many factors have caused changes in accounting systems in recent years. Most significant are globalization, technology, and a shift from a manufacturing-based to a service-based economy. Without continuous adaptation and improvement, accounting systems would be obs olete. Diff: 2 Type: ES Page Ref: 16 Objective: 8

Literary Devices In Antonys Speech - 714 Words

â€Å"When the poor cried, Caesar wept† (3.2.189). Similarly to this phrase, Marc Antony uses several literary techniques to paint Julius Caesar in a positive light during his speech. In the play Julius Caesar several conspirators devise a successful plan to murder and overthrow the ruler of Rome. The death of Caesar could easily be seen as the cusp of his impact on the story; however, despite after death, Caesar plays a huge role in further development of the plot. Following his beloved friend’s assassination, Marc Antony delivers a stirring speech that could easily be seen as a critical turning point. Antony cleverly persuades the commoners to join his cause for vengeance. Throughout his empowering speech to the plebeians, William†¦show more content†¦And being men, bearing the will of Caesar, It will inflame you, it will make you mad† (3.2.140-143). Antony’s sermon is a significant point of the story because he gains support from the commoners, declares himself as ruler (along with Octavius), and forces the conspirators into retreat. Convincing the commoners to mutiny was crucial to Antony’s plan, and with his effective use of literary devices he manages to do exactly that. Moreover, gaining the trust of the plebeians allowed Antony a higher position especially because the former ruler, Caesar, was dead. In addition to improving his position, Antony was able to scare the conspirators out of Rome as shown when Octaviuss servant says, â€Å"I heard Octavius say, Brutus and Cassius are rid like madmen through the gates of Rome† (3.2.225-226). As Antony delivers his provoking speech, many impressions of major characters are depicted.The scene illustrates the craftiness of Antony, how gullible the plebeians are, and the nobility of Brutus. After Brutus’s oration the crowd is in heavy support of the crime and believe that Brutus indeed is a noble Roman. A plebeian even exclaims in support of Brutus, â€Å"B ring him with triumph home unto his house!† (3.2.46). However, moments later through literary techniques and devices, Antony is able to sway the commoners to love Caesar and doubt Brutus’s honor. In contrast after Antony’s speech, that sameShow MoreRelatedJulius Caesar Power Of Language919 Words   |  4 Pagesfind myself so apt to die;/ No place will please me so, no mean of death† (3.1.171-175). Antony is being overly dramatic with his words after Caesar’s death and even insists that the conspirators kill him aswell which leads Brutus to sympathize him. Antony’s reaction and word choice set the way for what was going to come next. After that antony then shakes all the conspirators hands and explains,†To see thy Antony making his peace,/Shaking the bloody fingers of thy foes,/Most noble! In the presence ofRead MoreRhetoric and Betrayal in Julius Caeser Play1486 Words   |  6 Pagesplay Julius Caesar utilizes the literary element of r hetoric multiple times throughout to show the true power that words can hold. The rhetoric in Caesar accompanies the play’s themes of betrayal, deception, and exaggeration. Brutus uses rhetoric to persuade the crowd of plebeians that the murdering of Caesar was positive and beneficial to all of Rome, winning their support and causing them to join his cause. Soon after, Mark Antony gives a terrifically-persuasive speech that he claims to be a funeralRead MoreWas Brutus Really That Honorable?1266 Words   |  6 Pagesthough he is proud of his reputation for nobleness and honor, he is also often naà ¯ve and hypocritical about his actions. When Brutus was killed by Strato in V.v., Antony mentions how Brutus â€Å"was a man† and the noblest out of all the Romans. 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If Anton y just calls him just a man, then that could mean he was referringRead More Julius Caesar Essay: Marc Antony’s Power of Persuasion1385 Words   |  6 PagesMarc Antonys Power of Persuasion in Julius Caesar      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In William Shakespeares Julius Caesar, although Marc Antony is allowed to make a speech at Caesars funeral, he must not speak ill of either the conspirators or Caesar.   Antony was infuriated with Caesars assassination, and wants to seek revenge on his killers as well as gain power for himself in Romes government.   He must persuade the crowd that has gathered that Caesars murder was unjust, and turn them against Brutus and CassiusRead MoreJulius Caesar Essay1011 Words   |  5 Pagesas various literary and cinematic devices to express the theme of conflicting perspectives and influence the audience’s reception. During the initial scenes of his play, Shakespeare clearly outlines the distinct conflict of perspectives held by his main protagonists; Antony and Cassius regarding Caesar. Shakespeare’s representation of Antony incorporates that of a humble, loyal and devoted disciple of Caesar; embodied in his vow â€Å"When Caesar says, ‘Do this’, it is performed.† Antony’s obedientRead MoreStudy Guide Literary Terms7657 Words   |  31 Pages AP Literary and Rhetorical Terms 1. 2. alliteration- Used for poetic effect, a repetition of the initial sounds of several words in a group. The following line from Robert Frosts poem Acquainted with the Night provides us with an example of alliteration,: I have stood still and stopped the sound of feet. The repetition of the s sound creates a sense of quiet, reinforcing the meaning of the line 3. allegory – Where every aspect of a story is representative, usually symbolicRead MoreJulius Caesar2287 Words   |  10 PagesRomans are best described how? 2) When we first see Brutus, he appears to be ________________________. 3) Which line from Act I foreshadows what will happen to Caesar? 4) â€Å"Truly, sir†¦ I am but, as you would say, a cobbler† is an example of what literary device? 5) Cassius states, â€Å"Men at some time are masters of their fates: / The fault, dear Brutus, is not in our stars, / But in ourselves, that we are underlings.† Based on this, what can you infer about Cassius? 6) The crowd shouts three times for