The wedding company focuses on recruiting employees of varied knowledge and skills who can meet the needs of the company’s customers. The management will consist of a managing director, vice managing director, departmental managers such as finance, marketing human resource management and production and the subordinates. The departmental managers need to be a team player so as to help to develop strong teams that will help foster the success of the company. The human resource management department will conduct an evaluation of company’s work to identify the required staff for the company. On the other hand, the ...
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Business Plan- Management (Wedding Business)
Management Accounting DB3
Management Accounting DB3 Some people say budgets are not good for control but great for planning. This statement can be interpreted in a broader spectrum within the subject of managerial accounting. It is common practise for accountants to use budgets in the achievement of both planning and controlling. In most cases the role of planning is to outline the number of activities to be undertaken in the pursuit of various organizational objectives. The budget gives the estimates in relation to the outlined activities and is often limited by the amount of capital at the disposal of the organization. On ...
The advantages and disadvantages of the four different forms of business organization, when starting a business, there are several issues to consider as to the kind of business one aspires to start. The kind of business that someone can start varies in structure and has a big bearing on the operation of the business. There are other implications that vary from taxation to legal implication and accounting processes. Each of these businesses has its own advantages and disadvantages.
Sole proprietorshipThis is most common and simplest form of business to start. This is because an individual can easily start, own and manage a business, ...
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Financial ratios are used in financial and managerial accounting in order to evaluate the effectiveness of business and the overall financial conditions. Further you will find analysis of liquidity, solvency and profitability ratios of Tootsie Roll Inc., based on their 2010 annual report.
Liquidity ratios1. Current ratio = (current assets-prepaid expenses)/ current liabilities For 2007, the current ratio of Tootsie Roll Inc. was 3.39 and it is slightly higher than standard level and average in this industry. Current ratio projects a company’s ability to pay off its debts and therefore, Tootsie Roll Inc. has enough resources to cover its ...
