MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT 'The role of Management Essay

MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT 'The role of Management Accountants at Tesco Plc' - Essay Example Accordingly, the study findings revealed that management accountants are imperative as decision makers to modern organizations and play a crucial role to ensure adequate organizational sustainability in the long run. In the present state, management accountants form an important facet of any organization. When concerning at the business environment currently persistent in the global platform, management accountants play an important role of providing useful information to the decision makers of the organisation, and thereby, facilitate alignment in the financial planning and its overall business goals (Accenture, 2011). Globalization has also been a major reason for the changing role of management accountants in the present organizational context. Nowadays, management accountants have also been bestowed with the responsibilities for analysing, preparing, interpreting the financial data as well as delivering information about the current strategic position of the organization. Every business planning and decision taken within an organisation is today related with financial matters, wherein financial stability is perceived as a key requirement towards ensuring long-run sustainability of the entity (CIMA, 2009). Evidently enough, the role played by management accountants has become more complex as compared to their initial functions within the organisational management domain. This particular factor can be better understood with the help of practical illustrations, taking example of an organisation. With this particular motif, the study has considered Tesco Plc as the organisation, and hence, reference will be drawn to identify the role of management accountants in the current phenomenon. Management accountants are often considered as the oxygen of financial department and the overall organisation. It is in this context that with the changes observed in the organizational working patterns, the role

Revolutions that caused the most change in western society and culture Term Paper - 1

Revolutions that caused the most change in western society and culture - Term Paper Example The transition from agrarian society to trade and commerce which required skilled labor, led to higher productive outcome. The division of labor was focused on technology based specialized skills which could be efficiently exploited within the industries to enhance productivity. Industrial revolution was important breakthrough in manufacturing process as it mechanized the production process through new techniques, machineries and methods into the industrial areas. Through the invention of steam engine, railroad system was created which facilitated transportation of goods and services across wider regions, thus developing stronger network of market for goods across the nations. The industrial revolution brought in radical changes in the socio-political and cultural arenas. Work experience was transformed through technology which not only increased productivity but also offered new opportunities of work to the people, thereby increasing family income. The easy transportation provided people with greater varieties of goods and therefore made markets more competitive. Most importantly, the revolution also helped people to travel greater distances and interact with people coming from different culture, race and color. Indeed, innovations in the field of consumer goods and luxury items significantly impacted the lifestyle of the people who quickly adopted technology within their lives. The American Revolution (1775-1783) is considered as one of the key events in the annals of the history of contemporary times because it brought into existence, the world’s most powerful, developed and wealthy nation. The revolution changed the very dynamics of political geography of the world when defeat of the British forces led to the independence of 13 British colonies of North and forming United States of America. The democratic tenets of American constitution greatly facilitated the changing socio-economic