Strategic Management Accounting in University Essay

Strategic Management Accounting in University - Essay Example The strategies are implemented with the help of a number of activities whose progress has to be assessed in order to control the activities and assure the achievement of the goals of the organisations various type of performance indicators are used by the organisation. In this segment the various forms of performance indicators used by the organisations including those which are used by the University of Newland has been analysed to assess the present techniques used by the management of the of University of Newland and identify the alternative techniques which can be used by the university to measure the performance. 2.1 Traditional method Traditionally organisations used to measure their performance with the help of various financial techniques like ratio analysis, trend analysis etc. These techniques were used to evaluate the performance of the companies or other organisations and the results were often compared with that of the desired level of the organisation which is also term ed as benchmark. Ratio analysis is done on the historical data that is after the activities have already been done and the financial statements have been prepared. Most of the data used in ratio analysis are mainly used from the financial statements. The ratio analysis helps to ascertain the financial position of the organisation as well as the profitability and the managerial performance of the organisation. This is a very useful and convenient performance indicator which is prevalent in today’s time also. The main disadvantage of ratio analysis is that ratio analysis uses historical data which cannot be used to analyse the ongoing performance of the organisation. Another disadvantage of this kind of performance measurement tool is that through this type of analysis... The paper tells that every organization whether it is a profit making organization or non-profit making organization has various vision and mission. The objectives or the organisations are focussed on this achievement of the vision and mission of the organisation. The organisation at various time adopt a number of strategies to achieve the mission of the organisation. These strategies are focussed on the objectives of the organisation. To achieve the organisational objectives it is very important to control the activities of the organisation. In this regard tools and techniques of management accounting can be used to control the organisational activities and direct them towards the attainment of the organisational goals. Thus strategic management accounting helps the mangers to take strategic decisions by providing useful financial and nonfinancial information. After analysing the strategic environment, costing and budgeting techniques it can be concluded that the education environme nt is quite favourable to successfully run universities but the costing and budgeting techniques used by the University is quite outdated and the University must adopt the newer approaches of cost allocation and budgeting which would improve the strategic position and efficiency of the organisation. The organisation should also adopt the newer performance indicators which would not only increase the efficiency of the organisation but will also help the organisation in achieving the strategic goals.

Human Resource, HSBC Assignment Example | Topics and Well Written Essays - 1000 words

Human Resource, HSBC - Assignment Example HSBC stands for ‘Hong Kong & Shanghai Banking Corporation,’ and the history of HSBC banks in UK can be traced back to â€Å"17th century† (HSBC- Its History in Wales 2013: 1). The first HSBC bank started its operation in Wales, and at the initial stage they had an association with North Wales bank. They called it a period of opportunities, as much progress took place during this period, such as construction of roads and canals etc. Eventually further changes have been made in the functions and structure of the banking style. HSBC banks have a good relation with peole all over the world, and especially British people. Principles of Human Resources and HSBC Bank: In all its endeavors, it is the objective of HSBC North America Holdings Inc. and all of its subsidiaries (jointly referred to here as the "Corporation") to act fairly and honestly at all times. It is the strategy of the Corporation to comply with the spirit in addition to the letter of all applicable rule sand regulations in all that it does. Violations of this strategy and malfunctions to report known violations will subject the worker to disciplinary procedures, which may comprise termination of employment. Additionally, workers who should have, through the exercise of reasonable diligence, discovered breach of this strategy, but who fail to do so, may be subject to discipline, consisting of termination of employment. Each worker of the Corporation is expected to do the same. In dealing with workers, suppliers and customers, the Corporation makes decisions without regard to religion, origin, race, color, veteran's status, national origin, nationality, sexual orientation, marital status, sex, gender identity, age or disability that can be reasonably accommodated. â€Å"All employees are responsible for ensuring that the working environment is free of any form of harassment, discrimination or inappropriate behavior† (HSBC Finance- Statement of Business Principles and Code of E thics 2013: 1). HSBC Bank and their Financial Stability: The European Financial Stability Facility was incorporated in Luxembourg under the Luxembourg law in the year 2010, on June 7th. Its aim is to protect financial constancy of Europe’s Financial and Fiscal Union by offering temporary monetary help to Euro area affiliate (member) states in complexity. With the intention of reaching its aim, the European Financial Stability Facility can, under the protection of the German Debt organization agency, issue bonds or other liability apparatus on the marketplace to lift the funds desired to offer loans to states that would put forward a request. Questions are backed by assurances specified by Euro region affiliate States of up to â‚ ¬ 440 billion. â€Å"For, HSBC, significant decisions regarding capital allocation and external capital rising are undertaken at a holding company level† (Flint 2011: 2) European Financial Stability Facility is a component of wider security net. Bank competition and monetary constancy have been a rising issue in the United Kingdom among continuing concerns on the subject of extreme marketplace share in key goods as well as authorities' wish to stop a repeat of bail-outs of the bank at the taxpayer's expenditure. The banking society remains dedicated to sustaining the twin intent of guaranteeing fiscal constancy and supporting financial recovery, and is dedicated to