Building blocks that organizations need to help

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Reference no: EM133940410

Account for Management Decision Making

Week 1: Learning Resources

Understanding Financial Statement
Financial statements are some of the building blocks that organizations need to help them analyze where they have been and where they are heading in the future. Through these resources, you will explore the four basic financial statements that are prepared. Public companies are required to submit them to the Securities and Exchange Commission. Although private companies are not required to do so, they still need them for other purposes, such as loans, planning, and reflection on the past year.

Strategic Planning, Budgeting, and Forecasting
Strategic planning, budgeting, and forecasting can each take many different forms, yet they are all part of moving an organization toward achieving its goals for a successful future. In these resources, you will explore what they are, how they are different, how they fit together, and how they contribute to success. Get the best assignment help from top tutors.

Preparing The Budget
The ability to implement and adhere to a budget is a key factor in any organization's success. Leaders rely on budgets to help them make critical decisions related to operational and resource-related matters, among other things. Budgeting is also a key aspect of an organization's strategic planning. Through these resources, you will examine the use of budgets for an organization.

Responsibility Centers
Are managers responsible for all activities in an organization or only for their area? Managers should only be held responsible for activities they can control. For example, if a manager is in charge of a production department, that manager should be responsible for what is produced as well as the labor and materials needed for production. However, the manager should not be responsible for whether the items produced are sold, as that is the responsibility of the sales department. Using these resources, you will examine various types of responsibility centers.

Reference no: EM133940410

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