Planning, Managerial Accounting

Assignment Help:

Planning

2447_planning.png

A business must plan for its success. What do we understand by business planning? It is about thinking in advance -- to decide on a course of the action to reach the desired outcomes. Planning should be done at all levels. First, it happens at the high level of setting strategy. It then moves to the broad-based thought about how to set up an optimum "position" to maximize the potential for the realization of goals. Finally, planning should be undertaken from the perspective of thoughtful consideration of financial realities/facts and anticipated monetary outcomes (budgets).

You have possibly undergone similar planning endeavours. For instance, you decided that you desired more knowledge in business to improve your skills and stake in life, you positioned yourself in a program of study, and you developed the model of costs and future benefits. So, you are quite familiar with the concept of planning! But, then you are an individual; you have easily captured and contained your plan inside your own mind. A business organization is made up of number of individuals. And, these persons must be orchestrated to work together in the harmony. They must share and understand the organizational plans properly. In brief, "everyone is desired to be on the same page."


Related Discussions:- Planning

Illustrate the concept of cost, Illustrate the concept of Cost The term...

Illustrate the concept of Cost The term cost indicates the amount of expenditure (actual or national) incurred on, or attributable to, a specified thing or thing or cost unit.

The role of computers in simulation, The Role of Computers in Simulation ...

The Role of Computers in Simulation Computers can be used to: 1) To generate the random numbers 2) To simulate thousands of trials. This is done extremely fast, accuratel

Management accounting , Management Accounting 1) Which is concerned wi...

Management Accounting 1) Which is concerned with provision of information to people within the organization to help them make better decisions? Management accounting is concer

Monitor, Monitor Let's start by having you think about the controlling ...

Monitor Let's start by having you think about the controlling your car (aka "driving")! Your steering, acceleration, and braking are not the random things to be done; they are

Accounting profit, Accounting Profit is a company's sum total earnings, com...

Accounting Profit is a company's sum total earnings, computed according to Generally Accepted Accounting Principles (GAAP), and involves the explicit costs of operating business, l

Profi t Planning, SK 2 Chapter 10: Master budgeting Objective How organisat...

SK 2 Chapter 10: Master budgeting Objective How organisations strive to achieve their financial goals by preparing a number of budgets that together form an integrated business pla

What are the advantages of zero base budgeting, Advantages of zero base bud...

Advantages of zero base budgeting 1) it provides a basis for evaluating decision packages on the basis of benefit considerations 2) it reduces inefficiency and achieves high

The board of a company decides that the strategic objectives, The board of ...

The board of a company decides that the strategic objectives of the company should be: * to become established as the best in its field * to be the largest in its market Comment on

Case Study, Can someone do my case study for managerial accounting includin...

Can someone do my case study for managerial accounting including writing a sales report?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd