Durango Manufacturing Company: Accounting and Financial Areas

comparative Essay
2346 words
2346 words

Durango Manufacturing Company is progressive and poised for a successful future. To best maximize company revenue and position in the industry, it should consider increasing revenue by 10% in the next five years. As a consultant, our firm encourages the organization and CEO to consider methods of implementation to develop the company going forward. Several items must be taken care of to change revenue per business year. These steps include checking on our labor productivity and also department development which affects revenue collection. If taken seriously and implementation is successful, these strategies will help to achieve the desired goal of attaining 10% revenue in the next five years. One must understand that the integral core of a company rests in its accounting and financial areas. The departments’ need employees with an advanced knowledge and skill set to ensure the payment of supplies and accounting on the expenditure is correctly recorded. If the accounting desk presents inaccurate spending calculations on behalf of the company, it could result in spending more than what has actually been earned; this could lead to the company not only being unable to increase in revenue, but also experience loss. It is imperative that the management of the financial department is well informed and able to make decisions by taking into account the usage of every coin stated in the expenditures, and also to know the amount of revenue the company is making so that we can plan on better strategies to improve the revenues (Lu, Madu, Kuei & Winokur, 1994). The financial department requires highly adept employees with thorough knowledge and/or experience with accounting and bookkeeping. This is a department that should be managed keenly ... ... middle of paper ... ... Works Cited Kaplan, R. S., & Norton, D. P. (1998). Putting the balanced scorecard to work. The Economic Impact of Knowledge, 315-24. Porter, M. E., & Kramer, M. R. (2002). The competitive advantage of corporate philanthropy. Harvard business review, 80(12), 56-68. Katzenbach, J. R., & Smith, D. K. (1993). The discipline of teams (pp. 111-120). Harvard Business Press. Cummings, T. G., & Worley, C. G. (2009). Organization development and change. Cengage Learning. Kaplan, R. S., & Norton, D. P. (2000). Having trouble with your strategy?: Then map it. Harvard Business School Publishing Corporation. Byrne, J. A. (1993). The horizontal corporation. Business Week, 20(1993), 76-81. Lu, M. H., Madu, C. N., Kuei, C. H., & Winokur, D. (1994). Integrating QFD, AHP and benchmarking in strategic marketing. Journal of Business & Industrial Marketing, 9(1), 41-50.

In this essay, the author

  • Explains that the best capital budgeting ratio for durango manufacturing company is net present value, which takes into account the cash flow in the company by the inflow and outflow.
  • Explains kaplan, s., norton, d.p. and norton. having trouble with your strategy?
  • Explains lu, madu, kuei, and winokur, integrating qfd, ahp and benchmarking in strategic marketing.
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