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战略管理有提供所需相关信息公司的管理决策。一般公司任命一个战略管理会计，他负责实施所需的各种活动分析,以及提供最精确和合适的决策。在这个报告中已经提到这个关键角色,战略管理会计将在一个组织进行管理工作。当考虑生产过程的成本既有相关和不相关成本和识别分开是很重要的。这里讨论了相关和不相关成本的含义。基于活动的成本核算是成本会计的另一个方法,它包含两个好处以及也会存在一些问题。在这份报告书福利和基于活动的成本核算问题也被提到。
按(Norton和休斯,2009:p.3)策略可以被定义为一个行动,他将实现一个特定的目标，这里包括规范所需的资源。按照原始意义上说,战略可以被识别为一个人如何进行经济活动,一个公司,甚至一个国家如何实现目标。战略管理是关于理解竞争环境的性质,利益相关者管理策略和如何采取相关行动。
Strategic management is there to provide relevant information required for the management of the company for decision making. Generally companies appoint a strategic management accountant to carry out the various activity analysis needed in order to take most accurate and suitable decision making. Here in this report it has been mentioned about the key roles which a strategic management accountant would undertake in an organisation. When considering the cost of a production process there are both relevant and irrelevant costs and it is important to identify them separately. So here the meanings of relevant and irrelevant costs have been discussed. Activity based costing is another method in cost accounting and it contains both benefits and problems. Here in this report benefits and problems of activity based costing have also been mentioned.
As per (Norton and Hughes, 2009:p.3) strategy can be defined as a course of action, set to achieve a specific objective which includes specification of resources required. In a very raw sense, the strategy could be identified as how a person, a company, a group or even a country would get its objectives fulfilled. Strategic management is about understanding the nature of the competitive environment, stakeholder management strategies and taking relevant actions to.
The strategic management accountant is responsible for providing all the relevant information in a the suitable format as it can be used for the decision making process of the organization. This information would be useful in the planning process, controlling processes, objective identification process, the process of identifying appropriate decisions and etc (Belkoui, 2002:p.36). But the role of strategic management accountant differs from the role of other general accountants. Generally the duty is to present the financial numbers in a manner it is useful for decision makers and as it can be directly used for decision making process. But the strategic management accountant is responsible for placing all the relevant financial numbers into a wider context and relate all those financial factors to the key non financial factors. This will integrate the financial factors and non financial factors of the organisation and it will enable the managers obtain a proper understanding about financial results, operating performance and the strategic direction of the company (Botten, 2009:p.390).
In order to perform the expected role of the strategic management accountant, the strategic management accountant must develop financial knowledge like other management accountant and further, he will need to have a broad personal skills ans commercial capabilities. This is because of the extra role that strategic management accountant have to perform by relating the financial factors of the company with the non financial factors which include tackling the external environment information such as information on customers, competitors and marketplace and etc. This is what make the role of strategic management accountant this much important because, currently it is impossible to perform a leading part in the industry without relating the financial information of the company with the non financial information (Ward, 2012:p.10).
When a person gets to hold the position as the strategic management accountant of the Jessup Ltd, he will be responsible identifying, relating, analysing and achieving following.
Providing all the relevant information needed : Here the strategic management account of Jessup Ltd will provide the information needed for evaluating each situation and guide the directors of Jessup Ltd to get the most suitable and accurate decisions for each situation arise. And here, the information he provide will be useful to identify the level of performance Jessup Ltd is performing when compared to the the other players in the advertising field, who can be identified as the competitors of Jessup Ltd (Blocher, 2006:p.23).
Facilitate the communication between manager and accountants : Managers are responsible for decision making of the Jessup Ltd and they will get the use of financial information provided by the accountants of the Jessup Ltd when making the decisions. But it is the strategic management accountant who performs the role between them by enabling a proper information flow between managers and accountants of Jessup Ltd (Hirsch, 2000:p.4).
Identifying the most suitable type of decision matches for each situation arise. There are 3 main strategic decisions that can be made. One of them is changing the amount of resources allocated for the activity. For example, if the amount of quality checkers allocated per a center, the the management of Jessup can consider appointing some more in order to achieve the target quality level. Another type of decisions that can be used is entering into a new business area (Khan and Jain, 2006:p.10). For example, Jessup can consider entering into 3D creations in line with the general advertising activities they are carrying out. Another strategic decision that can be taken is exit decision. For example, if it is clear that the advertising on newspapers does not generate a turnover at a satisfactory level which is enough for the effort made, then the management of Jessup Ltd can consider exiting from newspaper advertising.
Setting the appropriate financial indicators : Here the performance indicators of the internal factors of the organization should be set along with the monitoring the performance of customers and competitors as well. Those are they 2 parties who can make the most significant impact on the company. So the strategic manager should collect information about the other advertising firms as well in order to compare the performance of Jessup with the performance of them (Drury, 2007:p.570).
Distinguish the managerial and economic performance : The administrative cost of Jessup Ltd is something controllable. But the government tax amount is out of control of Jessup Ltd. So strategic management accountant will ensure to provide the real performance of the company by only considering the controllable costs.
Providing relevant information : The main duty of strategic management accountant is to provide information required for decision making. But the issue here is the content of irrelevant information in the statements preparing by the accountants as it wastes the time of decision makers. But the strategic management accountant will ensure to provide only the relevant information needed (Barnwell, 2009:p.199).
Identifying the possible change over options : the needs and wants of customers are dynamic. So in order to keep the customers with the Jessup Ltd, it is important to analyse and identify possible change over options and following the suitable options (Clarke, 2002:p.202).
Relevant costs are the costs appropriate to a specific management decision. These are represented by future cash flows whose magnitude will vary depending on the outcome resulted from the decisions made by the management. When a cost to be classified as a relevant cost, it should fulfill 3 factors.
Relevant costs are future costs : if the cost amount is already incurred before start the operations of a specific activity, those costs are called as sunk costs and they can not classify as a relevant cost. For example, if Jessup Ltd is considering the 3D video visual making, they may need to investigate and identify the possible ways to perform. In this matter, Jessup Ltd needs to maintain a research and development process and spend on that. But even Jessup spends on research and development of 3D visual making, the cost of research and development can not classify as a relevant cost of the project as it is not a future cost, instead it is a sunk cost which has been already incurred (Lucey, 2003:p.326).
Relevant costs are cash flows : There are 2 types of transactions as cash flow transactions and non cash flow transactions. If Jessup Ltd makes payments for its employees, it is a cash flow transaction. But the costs that are accounted as depreciation of the computers that are used in the advertising firm, in reality, a cash flow didn’t take place. So they are called as non cash flow transactions which cannot include as a relevant cost of the production.
Relevant costs are incremental : If the Jessup Ltd expands its premises which currently costs $50million of rent and set up a new center which needs extra $20million rent, the incremental cost of setting new center is $20million (Lal, 2009:p.723).
There are other terms that can be used to describe relevant costs. One of them is ‘avoidable costs’, which includes the costs that can be avoided if the decision is not made. This is the reciprocal of incremental cost. If the same example is considered where Jessup Ltd expand its premises, the avoidable cost of that decision is $20million because Jessup Ltd does not need to pay it if the expansion did not take place. But still $50million is unavoidable as Jessup has to incur it no matter what the decision is. Another term that can be used to describe relevant costs is ‘differential cost’ (Young, 2003:p.65). This is the cost difference between different alternatives.For example, if Jessup has 2 options to expand its premises as one costs $15million and the other costs $20million, the differential cost is $5million. ‘Opportunity cost’ is another term that describes the relevant cost. Opportunity cost is the value of next best alternative forgone. In other words, the opportunity cost is the benefit which could have been earned, but which has been given up by choosing one option instead of another. Therefore they will represent future lost cash flows (Mankiw, 2011:p.55).#p#分页标题#e#
Non relevant costs are the costs which are not appropriate for a specific management decision. There are 3 main types of non relevant costs as sunk costs, committed costs and notional or imputed costs (Burke and Wilks, 2006:p.54).
Sunk costs : these are the costs that have been irreversibly incurred or committed prior to a decision point and which cannot therefore be considered relevant to subsequent decisions. Sunk costs may also be termed irrecoverable costs.
Committed costs : these are the costs arising from prior decisions, which cannot be changed in the short run. Committed cost incurrence often stems from strategic decisions concerning capacity, with resulting expenditure on plant and facilities. This includes the future costs that are to be incurred as a result of past decision such as lease payment (Jagels, 2006:p.299).
Notional or Imputed costs : These are the costs used to represent the cost of using resources which have no conventional actual cost. In simple, these costs are not real, just imagined costs. This includes costs such as fixed overhead absorbed, depreciation, provisions and etc. Notional costs will be relevant only if they represent opportunity costs.
Activity based costing is an approach to the monitoring and costing activities, which involves tracing resource consumption and costing final outputs (Rajasekaran, 2010:p.271). Activity based costing is another method of costing which is considered as a better method than traditional costing methods. But both traditional absorption costing and activity based costing systems adopt the two stage allocation process which includes following 2 stages.
Allocation of overhead : Activity based costing establishes separate cost pools for support activities. As the cost of these activities is assigned directly to products through cost driver rates, reapportionment of service department costs is avoided.
Absorption of overheads : Absorption costing mostly uses a few absorption bases such as labour hours or machine hours, to charge overheads to products. Activity based costing uses many cost drivers as absorption bases. Absorption rates under activity based costing should therefore be more closely linked to the causes of overhead costs (Lal, 2009:p.323).
The strategic management accountant holds the responsibility of providing the key information that is needed for decision making process of the organisation. So appointing a person who can clearly arrange the information without messing it out and who is capable of providing the needed information when and where it is important, is a vital factor in the path to the success of the company. And the usage of only relevant data in the process of decision making is another key factor that should be concerned of. As a service providing entity usage of activity based costing in Jessup Ltd will be more appropriate. But if the management is to follow up activity based costing, they should clearly understand the logic behind its process and should be aware of both benefits and problems that can arise out of it.
For any company to be successful, a clearly defined suitable strategy is a vital factor. And decision making is a process is another important factor which ensures proper performance of a company. In order to make the most suitable and accurate decision for the various situations arise in a company, proper flow of information with all the relevant information, to the decision makers is essential. This is why the appointment of a strategic management accountant can create a huge impact on any company in any industry. The strategic management accountant will ensure that the decision makers of the company can obtain all the information needed when and where needed. But the most important thing is, he will ensure that the decision makers only obtain the relevant information, in order to eliminate unnecessary complexities in the decision making process. The relevant and non relevant costs identification is useful for pricing decisions of the company as well. But still for companies such as Jessup Ltd, the advertising company, cost allocation would be difficult as they are not in manufacturing products. So to allocate the costs properly, the management of Jessup Ltd can get the use of activity based costing.
Property at the time of takeover, seals and books, documents and other information of the debtor, the firm should be in accordance with the provisions of Article 31, "Bankruptcy Law", requires the debtor surrender before accepting an application for bankruptcy court at least one year within the books, and the transfer of the books, accounting vouchers, financial and accounting reports and other accounting information be checked, making the registration form, handover procedures. At the same time, you should pay attention to the situation of the debtor's property to collect has been submitted to the Court explained, debt inventory, debt inventory, the financial accounting reports and payment of wages and social insurance premiums; collect mortgage assets, guarantee contracts, loan contracts, mortgage, secured inventory objects; verification in accordance with the transfer of assets of the debtor personnel breakdown, together with the number of physical assets of the debtor's real deposit to confirm the ownership of assets, usufruct and security interests; check debt, the book inventory balances and debt takeover balance is consistent; mortgage, the number of assets existential security and collateral, secured inventory objects are the same. To have been taken over the property of the debtor, books and other materials related to personnel staff should be hired managers together with the debtor is responsible for the management, custody, and clearly related to management practices.
On the one hand, according to the relevant provisions of the "Bankruptcy Law" Article 31, Article 32, Article 33 and other relevant professional organization for adjudication of the debtor's bankruptcy filing date of the financial condition and bankruptcy ruling for at least a year before the financial accounts were audit or review, check whether the debtor in court gratuitous transfer of property within one year before the bankruptcy filing accepted, obviously unreasonable price to trade, the absence of secured property debts secured property, debt prepayment unexpired or abandon the claim of behavior; checking the debtor before the court accepts the bankruptcy application within six months whether the debtor is unable to repay part of the debt, and the assets are insufficient to pay off all the debts or apparent lack of liquidity, but still to be settled, individual creditors behavior; check whether the debtor to evade debt and conceal, transfer of property act and fictitious debts or admit unreal debt behavior.
When carrying out the audit or review, managers and workers to deal with the debtor owed wages and health care, disability benefits, pension costs, owed workers should be included in basic pension insurance personal accounts, basic medical insurance costs, as well as legal and administrative regulations should workers compensation decile August 27, 2006 (the date the new "Bankruptcy Law" published) before (including the day) owed and after August 27, 2006 owed to investigate and paid to be publicized. Investors should be concerned about the debtor's contribution obligation fulfillment, security interest set of assets, and has a security interest in the assets and common property were inventoried.
Example One: growth "accounts receivable" from three aspects to analyze; First, enterprises to expand sales appropriate to relax credit standards, resulting in increase in accounts receivable, the second is due to natural increase sales increase in accounts receivable, changes in the circumstances of the sale to combine the income statement to understand that there may be other factors to reduce the price, the third is the customer deliberately delayed payment, in conjunction with customer payment note to analyze the situation. From the other hand, to consider the issue, increase the "accounts receivable", but also increase the "bad debts", increasing the difficulty of receivables. Rather than to calculate the "accounts receivable" and other subjects and throughout the proportion of funds, the number of extracted "bad debts", according to the calculation method of extracting what, most of this increase and decrease in the analysis of other subjects, reports, business impact.
Two examples: "fixed assets" of change, there are three kinds of fixed assets valuation standards: the original value, reset the full value and the depreciated value on the balance sheet value of fixed assets is reflected by the following items: "fixed assets" project reporting period to reflect the original value of fixed assets. "Accumulated depreciation" project reflects the depreciation of fixed assets, the cumulative number of companies extracted. "Impairment of fixed assets" project reflects companies have extracted impairment of fixed assets. "Net fixed assets" project reflects the fixed assets at cost less accumulated depreciation, the amount of impairment losses of fixed assets. "Construction materials" project reflect the actual costs of various engineering materials. "In the construction project" reflects the companies in the construction of the actual expenditure of the project. "Fixed assets" project into the value of assets to reflect the corporate cleanup and cleanup costs incurred in the clean-up and so on. The project supplies, construction in progress and fixed assets included in fixed assets in the project, because they have the characteristics of the fixed assets. Direct factor affecting net fixed assets, including fixed assets movements increase or decrease, change in depreciation of fixed assets and depreciation method and useful life of fixed assets impairment provision. If the "fixed assets" to increase, indicating the company increased its profitability and strong investment in fixed assets, "under construction", "engineering material" project to increase, indicating that investment funds have not yet formed the production capacity, then we must consider. "accumulated depreciation "because it is also affected," one of the factors of fixed assets ". In summary, the increase in fixed assets ratio should consider changing the method of depreciation, impairment of fixed assets and removal of idle fixed assets, etc., but not a demonstration of the process and the method of calculation. A combination of cases, two cases of financial statement analysis is sufficient to prove that an "analysis of the research process" rather than calculation.#p#分页标题#e#
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