Reference no: EM131220185
Accounting
Three questions please provide references where needed
Financial statement analysis
1. The Financial Statement Analysis is the process of reviewing and evaluating the company's financial statements with the only purpose of learn about the company situation and be able to take best decisions. The information gathered in the financial statements needs to be analyze because by itself is insignificant. The owners, investors, and managers find very useful this tool because they can see the past, the present, and the future of the company.
Some of the methods used to analyze these reports are the horizontal analysis, the vertical analysis, and the radio analysis. The horizontal analysis or trend analysis are used to compare two or more years and these comparisons are done in dollar amount and percentages. The vertical is basically the analysis of each category of account and shows the total in percentages. Finally, the radio analysis is helps to evaluate the company situation by the analysis of statistics.
When the information is reviewed and analyzed, the next step is to questions why we have differences. Managers need to control their operations and they need to show an ability to find a solution
2. How would you define what a manager is? Do you think a manager can be a "good" manager if they lack strong communication skills? I think this is an important trait, but how important is it? How can this question be related back to our Management Accounting class?
3. A manager is a person who is elected/hired by upper management to lead and administer all or a specific area of the organization. For example, some managers are only responsible for the few people who are apart of their team. In my organization they are also called Team Leads. In my opinion, I do not think you can call someone a "good" manager if they lack strong communication skills. Communication is the key to having a great relationship at work. When you communication well with your team, everyone is satisfied and they know what is expected of them. There should be no confusion. I think this is not only important but should be a mandatory for all managers. They will not be able to lead other employees if they do not know how to properly communication the rules and regulations of the company. People always say that you need to lead by example. Make sure you as a manager is doing what is right and so will others. If you respect your team members then they will respect you.
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