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Accounting In A Nutshell: A Case Study

1240 Words5 Pages

Decision making is a vital component that ensures the growth and success of an organization. Particular aspects such as the economy, the needs and wants of the consumer, and the opposing competitive organizations affect the decisions that impact the direction of the business. Janet Walker, the author of Accounting in a Nutshell, discusses how companies use financial information to manage a business and make decisions (Walker, 2006, p.3). In chapter 11 of her book, she proposes a scenario about a veterinary laboratory (BSE Veterinary Services) that carried out tests on cattle to ensure they are free from infection. The laboratory currently carries out 12,000 tests each period but is expecting to increase to 18,000 tests a period due to the current …show more content…

In the organizational process model, it is imperative that decision makers weigh all aspect of their business. This decision making technique ensures every group member has equal input and encourages all participants to voice their opinion while preventing the domination of discussion of a single person. The lead facilitator of this technique would be the accounting manager since the decision will affect the financial state of the organization. It is assumed that important financial decisions concerning hiring more personnel to ensure the growth of the company would include the ideas of participant’s top managerial positions. Nominal group technique requires organizations to follow certain steps. First, participants work alone and write down their personal ideas and solutions of the particular problem that is being discussed. Secondly, participants present their ideas for general viewing in a round-robin format. Thirdly, the group engages in an open discussion to clarify ideas and solutions where they list all and remove duplicated ideas. Fourthly, after the discussion, a preliminary vote is conducted to select the most important ideas. Lastly, a group discussion takes place to discuss the voting outcomes and a final vote is conducted to determine the priority of items (Burrows, 2011,

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For example, if Lowes head manager tells each of its workers that they are going to only serve people who ask for help because he is tired of seeing time wasted. This manager is only going by his side of things. While step 7 is implemented it is not successfully used. While being used in the Lowes manner, “Implementing the Decision” as team to allow each hardware section to decide whether to ask each customer they see if they “need help,” or wait for the customers to ask the employees. Allowing for each team member to change methods and accomplish step 8 by “Evaluating the Decision.”

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Introduction: Here in this assignment a management accounting report needs to be prepared for analyzing how management accounting can be useful in providing the managerial information for the purpose of decision making. The organization selected to make this analysis is Southwest Airline. It is a management accounting report in which starting from the background of the company, the management accounting system of the company has been analyzed and how its’ providing the information for the purpose of management decisions being evaluated. Background of the company: Southwest Airlines was shaped in 1978 with reason to serve voyaging service via air course. What's more, after consolidation southwest aircrafts persistently succeed regarding productivity, great worker and union connection and consumer loyalty.

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