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会计知识嵌入在企业战略决策

日期:2014-3-16作者:无忧论文网编辑:cinq点击次数:88
销售价格:免费论文论文编号:lw201403161403421712论文字数:4000 
论文属性:硕士课程论文论文地区:中国论文语种:English 

会计知识嵌入在企业战略决策 Accounting Knowledge Embedded in Strategic Business Decision


Executive Summary

Financial management is gradually playing the role in helping to make strategic business decisions, deeply related to operational, financial and marketing aspects. This report will present the role of accounting knowledge playing in assisting the business decisions in hospitality industry by mainly focusing on cost management and budgetary practices.


1.0 Introduction
Accounting is not simply referring to numbers or statistics. Cost management and budgetary practices become essential in keeping the company running more effectively. In hospitality management, they could be also applied to making business decisions which are seriously influenced by operational, financial, marketing management. They are connected to different segments of the managerial and operational strategies. Without well-planned cost management and budgetary practices, the profitability will be easily impacted, as various decisions will have a bottom line while considering the cost. To lower cost and maximize the net profit in running business, the company needs to better apply the cost management in business decision-making process (Ottenbacher, 2007). In addition, cost management is not purely listing statistics showing how much the company has earned or lost, but also how and what legal strategies the company could take to make more profitability.
This report will firstly present the current trends in hospitality management accounting, mainly focusing on the cost management and budgetary practices in strategic business decision. Secondly, it will discuss the interrelationships between the application of accounting management and business decisions in the hospitality management. Thirdly, major reasons for application of accounting management in business decision will be discussed. Finally, it will reach a conclusion based on the investigation and discussion.
 
2.0 Current Trends in Hospitality Management Accounting
2.1 General Trends
Accounting has played a more critical role in hospitality management. Specific accounting knowledge has been applied in strategic management in the companies, such as cost management, budgetary practices, performance measurement, management control system and pricing decision. Business strategies without concerning the role of accounting knowledge will generally end up with a failure of development, while the marketing performance will encounter a deathblow. Each type of spending and earning requires a well-designed accounting planning (Ottenbacher, 2007). The insufficient plan of financial management would only bring burdens to the performance of company. The operational and managerial process has deeply con


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