Theories for the Accounting Department of an Organization

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Introduction
There are numerous departments that come under the ambit of an organization and among them, the name of accounting and finance department is one of them, which has its own significance and importance in particular. Management of accounting is an important aspect from the viewpoint of an organization (Chernev, 2012). Management is a synergy of four things, which particularly are planning, organizing, leading and controlling and all of these provisions are important for the sake of an organization. In order to effectively increasing the financial belongings and strategic capabilities of an organization consideration of the things are more than important for them. It is observed that organizations always made to earn economic profit with the help of effective strategies and among those strategies, the essence of management and delivering the things are most important (Damien McLoughlin, 2010). When it comes to organizations, then the essence of managing and controlling the things would be on a higher scale in particular.
There are certain aspects which are important for the sake of an organization in particular and all of the aspects are important from different viewpoints. Accounting System and Assurance are some of the major aspects from the viewpoint of the company. Among these aspects and system, the name of Enterprise Risk Management (ERM) is one of them. COSO internal framework has been updated by a new network which is ERM model. The main perspective of this assignment is to make a literature review related to the development, importance and limitation of the COSO framework and its effectiveness for the company.

Literature Review
Theories could be extremely important and vital for an organization and no ...

... middle of paper ...

...ng management: business strategies, London: Oxford University.
 Helen Meek, R.M. (2012) CIM Coursebook 03/04 Strategic Accounting Management, New York: McGraw Hill.
 Isobel Doole, R.L. (2008) International Accounting Strategy: Analysis, Development, New York: McGraw Hill.
 Jim Blyth, A.S.Z. (2005) Business to Business Accounting Management: A Global Perspective, Ohio: American.
 John Mullins, O.W. (2012) Accounting Management: A Strategic Decision-Making Approach, London: Oxford.
 Philip Kotler, K.K.C. (1990) Accounting management and strategy, New York: Pearson Group.
 Quelch, J.A. (2001) Cases in strategic Accounting management: business strategies, Sydney: Oxford.
 Richard J. Varey, B.R.L. (2000) Internal Accounting: Directions of Management, London: Oxford.
 Richard M.S. M. S. Wilson, C.G. (2012) Strategic Accounting Management, Texas: John Wiley & Sons.

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