Management accounting Essay Example | Topics and Well Written Essays - 1000 words - 5

Management accounting - Essay Example It includes a proper comparison of the roles that are performed by management accounting with those that are performed by financial accounting. An appropriate definition of ‘management accounting’ is provided by Institute of Management Accountants. According to this institute, management accounting is the process through which financial information is identified, measured, accumulated, analyzed, prepared, interpreted and communicated to the management who then use these information for the purpose of planning, evaluating and controlling the operations of the firm (Siegel and Shim, Accounting handbook). Management accounting helps in preparing financial reports for various non-management groups like tax authorities and regulatory agencies. In simple words management accounting is such an accounting system that helps an organization and its management to plan, control and make effective decisions. Financial accounting, on the other side, is all about maintenance of record, classification and summarization of financial transactions. American Institute of Certified Public Accountants has clearly defined the term ‘financial accounting’. As per this definition, financial accounting is referred to the art of recording, categorizing as well as summarizing the events and transactions that includes at least one financial character. Three of the basic functions of financial accounting are recording, categorizing and summarizing (Kesavan et al. Engineering Economics and Financial Accounting). According to Vijayakumar, financial accounting and management accounting are the two important branches of accounting and as a consequence they are interrelated. He also opined that management accounting, to a great extent, is the rearrangement of data that arise out of the practice of financial accounting. However, there are several points or aspects where significant differences can be found between these two branches of accounting. Each of these

To find out whether consumer confidence in online purchasing has Essay

To find out whether consumer confidence in online purchasing has increased or decreased over the last few years - Essay Example n evaluating the trends of online buying (as identified through the empirical research made on the specific issue); even the indications regarding the consumer preferences around the world – regarding the goods/ services offered online – seem to present significant differentiations. In most cases, the motives that lead consumers to purchase online are not clearly identified; however confidence has been proved to be a quite important criterion on which the decision of consumers to purchase online is based. The above assumption is proved not only through the studies published in the literature but also through the empirical research conducted for this paper. More specifically, a high number of consumers (approximately 185) have participated in a survey that has been conducted online; the results indicate that when having to purchase a specific good or service, consumers think first its potential availability in the Internet; if the specific good/ product is available onli ne then it will be preferred by the consumers; of course the relevant decision is always based on specific criteria (quality of the product, price, availability and so on) but mostly on the confidence of the consumer on the particular firm; the development of this confidence through the last years is analytically examined in this study. The development of Internet around the world has offered a significant support to all commercial firms that have chosen to enter the WWW in order to promote their activities. The level of improvement of corporate activities because of the intervention of Internet cannot be precisely estimated – different levels of success have been noticed across the various firms in modern market in accordance with the preparations made by their managers towards the incorporation of Internet as a valuable strategic tool as well as the perceptions of consumers towards the relevant efforts. In other words, it is possible that operating through the Internet is profitable for the