An MBA Graduate Defined
An MBA is a degree awarded to individuals who complete required coursework in the field of Management Science. The MBA title stands for Master of Business Administration and implies that the person holding the degree is qualified to hold a position in senior management within a firm. An MBA manager is similar to the captain of a ship. He is responsible for making decisions and plans about the firm and for controlling the firm’s employees. The goal of an MBA manager is to maximise the firm’s value through the use of the firm’s tangible and intangible assets. He maximises this value by obtaining the highest Profits possible. In the following discussion, I will examine how senior management in general and MBA graduates in particular can use the field of Managerial Accounting to make decisions/plan and control employees in order to maximise Profits. For clarity throughout this essay, senior managers and MBA graduates should be considered as one in the same.
Managerial Accounting Defined
Managerial Accounting is the process of using information systems to provide data to senior managers who then use this data for decision-making/planning and monitoring employee performance in order to maximise profits. The data that senior managers use is supplied by the Financial Accounting function. This information is used to improve the performance of the Marketing function, which generally provides the Revenue of the firm and the Operations function, which generally incurs most operating costs. Marketing and Operations are thus the functional areas which an MBA graduate is generally concerned.
Managerial Accounting is vital to a business’s success because it quantifies a firm’s performance. By quantifying certain performance variables, senior management can carry out its two most important functions: 1) Decision-Making/Planning and 2) Controlling Employee Behaviour.
The Theory of the Firm tells us that a business exists to maximise the value of equity investors have supplied. Profits result from decisions about what items to produce and sell (Marketing) and planning what inputs are necessary for this production and distribution activity (Operations). Value maximisation results from maximising Revenue and minimising Total Costs. In business, resources are always limited or finite. Therefore, they must be employed in the most economical and produc...
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... Statement. Suppose senior management has noticed a decrease in profits for the lemon-lime soda the firm produces. By examining the Financial Accounting data they have found an unexpected increase in the cost of lime flavoring that is used because a supplier of the product has gone out of business. Here, an MBA manager must make a decision about alternative sources available for the flavoring input and as always look to buy it at a lower price. Once again, Financial Accounting data (cost information from the Income Statement) has been used by senior managers to solve a planning/decision-making problem within the Operations function.
Summary
In conclusion, Managerial Accounting is process MBA graduate managers can use to gain insight into planning/decision-making and employee control. The process involves examining Financial Accounting data and then applying that information to maximize Profits through the Marketing and Operations functions. Specifically, maximizing Revenue in Marketing and minimizing Costs Operationally. Managerial Accounting is scientific in its approach rather than intuitive and should be used by MBA graduates interested in maximizing the value of their firm.
Beatrice is often referred to as an Eve-like figure because of her pure heart and soul; she is also considered and Eve-like figure because it was evident “her experience of life had been confined within the limits of that garden” as had Eve’s life before being convinced to eat the fruit (Rappaccini 11). Giovanni is commonly referred to as the Adam of the situation because he is transfixed with Beatrice and is convinced to go into the garden, even though he knows he shouldn’t. Rappaccini is evidently the God in this because of his alterations to nature and his daughter. All the while, his scientific rival, Baglioni, could be considered the serpent for his manipulation in Giovanni and Beatrice’s relationship and for his indirect manipulation of Beatrice to drink the
Abigail Williams is accused of witchcraft early on. In order to avoid conviction she confesses to witchcraft, accuses Tituba of forcing her to drink blood and do witchcraft, and accuses Elizabeth Proctor, Sarah Good, Goody Osburn, Bridget Bishop, Goody Sibber, Goody Hawkins, Goody Booth, and countless other innocent people in court. She throws herself down in the court and does other dramatic actions in order to convince the court that a person is in fact a witch. This leads to people being falsely accused of witchcraft and forced to accuse others in order to live. Because of Abigail's growing power in the court, people become fearful of her. One of the most important people who begins to fear her is Elizabeth Proctor. Elizabeth is afraid that Abigail will accuse her of witchcraft. She also gives more insight into Abigail's behavior in court. She states that Abigail will “scream and howl and fall to the floor” when the accused are brought forth (50). The people and the court begin to believe that Abigail can see who the witches are. Her words and actions become the deciding factors in a defendants fate.
Elizabeth Proctor is used in The Crucible to illustrate the powerful strength of what manipulation has over any living mortal. Typically an honest person under their religious faith would believe in telling the truth, but not while having an evil thoughts being whispered in your ear disguised as manipulation. Already knowledgeable of her husband’s previous affair with Abigail Williams, Elizabeth fears of ruining the Proctor name in the town of Salem, Massachusetts due to John’s affair and since John is a high authority figure in the church, it would ruining his name and people would not respect him as a preacher anymore. So in the process of saving the Proctor name, regardless of John admitting the truth by making the court aware of the recent affair he had with Abigail, Elizabeth denies those allegations because she fears that John will be upset to the utmost point, so she sacrifices herself to protect the Proctor name, even though she fears that she hopes that she made the right decision, as shown when she tried to clarify all statements be...
As any tragic hero, Proctor is overcome by Abigail, a true symbol of evil. Proctor faces defeat when the court officials come to take Elizabeth away. Proctor is so infuriated by this assault on his house that he rips the warrant and tells them to leave rather forcefully saying, “Damn the Deputy Governor! Out of my house!”(77), demonstrating his intense love for his wife. Proctor shows signs of being a tragic hero when he attempts to go into court to save his wife and prove the girls liars. However, he ends up being accused himself. Mary Warren is in court testifying when she suddenly breaks down “hysterically, pointing at Proctor, fearful of him: My name, he want my name.
The functions of managerial accounting include planning, decision-making, controlling, and evaluation. To make good decisions, managers must constantly adapt to technological changes, changes in the organization's needs, and new approaches to other functional areas of business-- marketing, production, finance, organizational behavior, and corporate strategy. Planning is the setting of goals and developing strategies and tactics to achieve them. Controlling is concerned with achieving the goals and evaluating performance. The success of an organization lies heavily on the shoulders of those making these decisions.
When John Proctor chokes Mary to testify in court, she responds by saying “She 'll kill me for sayin ' that! Abby 'll charge lechery on you, Mr. Proctor!I cannot, they 'll turn on me—”(Act II; 80). Mary Warren is extremely scared of defying Abigail because she knows what Abigail can do to her. Mary claims her friends will “turn on [her]” if she testifies in court, which is why she decides to take the safe route. Mary’s previous encounters with Abigail are what lead her to think that Abigail will actually “kill” her if she goes against her orders. Mary’s reluctance to testify in court shows how deeply she cares about other people’s perceptions of her and her need to shape her actions correspondingly. Mary’s intense fear also comes out when she openly reveals Proctor’s sins to save herself from being accused for witchcraft. She does this by telling the court “You 're the Devil 's man! My name, he want my name. "I 'll murder you," he says, He wake me every night, his eyes were like coals and his fingers claw my neck”(Act III; 119). Mary constantly repeats that Proctor wants her “name” because she wants to prove to the court that Proctor is a bad man who is indeed guilty of performing sins. She mentions his “eyes were like coals” to show just how intense he was about harming her if she did not comply. In both these situations, Mary
Movies portray mental illness in multitude of ways, most of the films portray it subtly but some portray a mental illness so explicitly, in order to entertain and simultaneously educate the audience on the illness. One of the films that explicitly highlights different mental illnesses is Call Me Crazy: A Five Film (Call Me Crazy). This movie showcases the lives of five people dealing with mental illness or having a close relative dealing with a mental illness. There are four mental disorders that are blatantly described in the film; schizophrenia, bipolar, depression and post-traumatic stress disorder. Furthermore, there are two lenses in which a film can portray a mental illness; through
Financial accounting focuses on providing financial statements to stockholders and internal and external users. Financial statements created under managerial accounting provide instructions and data used for internal business management purposes in effort to compute cost of product. Financial accounting provides data for the sole purpose of preparing companies financial statements. Unlike financial accounting, managerial accounting uses past records to forecast future budgets; additionally it doesn’t adhere to any set financial accounting standards such as US GAAP or IFRS (Averkamp). Financial accounting creates financial income statements, balance sheets and cash flow statements under the guidelines of US GAAP or IFRS; however managerial accounting prepares in-depth management products to include cost volume profit analysis, profit planning, operational budgeting, capital budgeting to name a few
In the reading about Hernando Washington what I found to be most interesting was that the whole time he was acting like he was doing the right thing, and not trying to cause any harm, yet he kept her captive and would not let her leave. While reading this I was actually quite interested in what he must have been thinking during the whole process. When reading this article and using my social imagination, I was trying to put myself into his views and what he would have been thinking, which was hard to do. The reason though that I believe he kept trying to justify what he was doing and making it seem like he was going to let her go soon, and that he really did mean no harm to her was so that in his mind he could think that what he was doing wasn’t actually as bad. One part of that story that interested me was an interview with Washington where the interviewer askes “If you were beginning to be uncomfortable about the situation, why didn’t
In the case of this story, Beatrice would be Eve. Beatrice along with every plant in the garden was the creation of Rappichini. He plays the role of creator and the devil, because everything in the garden, including Beatrice is poison, and can kill. This contrasts God’s Garden of Eden, because that garden is one that giv...
Management accounting in organisation is very important for decision-making and to make the business more efficient and therefore increasing its profits. Is the process of preparing accounts that can help managers to make day-to-day and short-term decisions, by providing them with accurate and timely key financial and statistical information...
We all know the popular family movie “Finding Nemo” a kid’s movie that tells a journey of Marlin, a father clown fish, who crosses the vast ocean to find his son Nemo. During Marlin’s journey he comes across many new and scary things, but like any good children’s movie Marlin does eventually find his son Nemo and they go back home and live happily ever after. This all sounds good right? Wrong! Looking at this movie from a psychologist point of view, or in my case a psychology students’ point of view you slowly begin to realize from the moment the movie starts each and every one of the characters in this lovely kids movie is kind of messed up in their own special way.
Management accountants use their skills to help with decisions that help a business make good decisions so they company will be valuable and in an ethical manner. They assess risk and implement strategy through planning, budgeting, and forecasting. Now managerial accounts have become critical with their analysis while managing a business. They do more than provide financial information they also have an active role in the business. Over the years managerial accountants has changed and now provide nonfinancial information. They can help a business achieve their goals. Today there is many things that is influencing how managerial accountants do their job with the emergence of e-business. They can use their knowledge to streamline the e-business (Hilton,2008). Now global competition has new challenges for managerial accounts because trade agreements can affect the way the business performs abroad. Gillet (n.d) said, “To be competitive, manufacturers must keep up
Throughout history the world has experienced different movie pictures, which incorporate different psychological themes. In Finding Nemo the audience is introduced to a clownfish named Marlin who deals with a multitude of psychological issues such as; stress, fear, and anxiety. Marlin refuses to experience the sea life, because it is so intimidating to him, and so he keeps his son from it. In the beginning , Marlin loses his wife to a shark, and then later on his son gets captured by a Scuba Diver. So, Marlin sets out on this adventure to find his son Nemo, and encounters another character named Dory, Dory deals with psychological issue of memory loss. Together they set out to find Marlin’s son Nemo, and along the way they bump into many different
Writing an essay on this topic brings an attention on how accounting helps manager in taking effective business decision. It is very important for any organization to take good business decision as to grow business by minimal cost. So, In order to make good decision People and organization need useful information. There is where Accounting plays a ey role. Accounting provides management with data needed to determine whether a business is at a loss or a profit, how much debtors owe, how much a business owes others, and other financial information. Accounting measures business transactions and such can helps managers in the right direction with solid information. Basically accounting is a tool for management to employ to help make sound business decisions on a timely and effectively manner.