COST ACCOUNTING SYSTEM DEVELOPMENT PROPOSAL Essay

COST ACCOUNTING SYSTEM DEVELOPMENT PROPOSAL - Essay Example In order that the costing system is effective so as to support the management control systems, a consideration of various financial and non-financial performance measures is undertaken to introduce the costing systems. This so because the functions of the management control systems is not only to collect the information but also to act upon an analysis of such data and information to steer the organization towards success. Hence arises the need for these performance measures. Some organizations present financial and non-financial performance measures for their subunits in a single report called the Balanced Scorecard. Different organizations stress different elements in their scorecards, but most scorecards include Considering the incorporation of the financial and non-financial measures in the management control systems, an Activity Based Costing system (ABC) would be appropriate for the new online company as well as the existing merchandising division of the company. Activity based costing systems refine costing systems by focusing on individual activities as the fundamental cost objects. An activity is an event, task, or unit of work with a specified purpose; for example designing, setting up machines, distribution.

IMF (International Monetary Fund) from 2007 to present using Research Paper - 1

IMF (International Monetary Fund) from 2007 to present using international business perspective - Research Paper Example But, with changing world scenario, various European countries, Japan as well as emerging economies like India, China, Korea, etc. have reduced the dominance of USA as they are following the same footprint (Hill, 2010). For example, share of FDI of the companies of developing world have increased from less than 1 percent in 1980 to as high as 15 percent in 2008, while the share of USA based companies have declined from near 40 percent in 1980 to 18 percent in 2008(approximately) (Hill, 2010). The political scenario has also changed in this changed economic situation. The political dominance of US is no under great threat in this increasing market economy. Many European countries that were Communist earlier and Some Asian countries have undertaken democratic politics and stressed on building free market economies. Hence, international businesses are getting more and more opportunities to enter these economies that have in turn strengthen these economies. (Hill, 2010) In this globalized world, importance of global institutions has increased significantly in maintaining order in various economical and political fields. IMF is one of such institutes which hold an important position in this changing economic and political environment. In fact, it is helping this process of change by its policies. IMF is responsible for maintaining order and stability in the international monetary system. The performance of international businesses to a large extent depends on the operation of international monetary system. If this system operates properly, then, the risks associated with international business operation reduce significantly. This paper will place its focus on some important issues relating to IMF policies and its scandals since 2007 as IMF activities is closely related to the performance of international businesses. (Hill, 2010) Since 2007, a number of issues relating to IMF activities is worth mentioning