Posted: September 8th, 2023

Accounting Discussion Board- Module 7

Accounting Discussion Board- Module 7

For this discussion, think about your personal experience with the topics along with the material covered in this module.

Instructions:

This module discusses the budgeting process conducted in managerial accounting and how budgets are used. Discuss all of the following:

The key uses of a budget for an organization that you are a part of (manufacturing, service, nonprofit)
The ways that budgeting can be extended beyond an organization to your personal life
The best approach to making budget cuts across an organization
Expectations:

There are two components to each discussion board assignments:
1. Initial Post: Post your original response to the discussion prompts
2. Responses: Post replies on the posts of at least two other classmates that add something to the discussion utilizing concepts from the course. You should not merely compliment classmates or post your feelings about their post, but support your response with concepts from the assigned material for the course

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Accounting Discussion board- Module 5
For this discussion, think about your personal experience with the topics along with the material covered in this module.

Instructions:

This module discusses measuring and managing customer relationships. Discuss the following problem (7-36) from your textbook:

Consider an organization that has empowered its employees, asking them to improve the quality, productivity, and responsiveness of their processes that involve repetitive work. This work could arise in a manufacturing setting, such as assembling cars or producing chemicals, or in a service setting, such as processing invoices or responding to customer orders and requests. Clearly, the workers would benefit from feedback on the quality (defects, yields) and process times of the work they were doing to suggest where they could make improvements. Identify the role, if any, for sharing financial information with these employees to help them in their efforts to improve quality, productivity, and process times. Be specific about the types of financial information that would be helpful and the specific decisions or actions that could be made better by supplementing physical and operational information with financial information.
Expectations:

There are two components to each discussion board assignments:
1. Initial Post: Post your original response to the discussion prompts
2. Responses: Post replies on the posts of at least two other classmates that add something to the discussion utilizing concepts from the course. You should not merely compliment classmates or post your feelings about their post, but support your response with concepts from the assigned material for the course
Measuring and Managing Customer Relationships through Financial Transparency
Customer relationships are the backbone of any successful business operation. Providing quality service, increasing productivity and streamlining responsiveness are key aspects to fostering positive customer experiences. Empowering employees through transparency and feedback is integral to continuously improving these aspects.
Sharing relevant financial information can empower frontline workers and enhance decision making. Specifically, sharing metrics like processing costs, profit margins and customer lifetime values allows employees to better understand how their work impacts the bottom line. This gives context to quality defects, processing times and other operational KPIs.
For example, in a manufacturing setting, workers may not realize that reducing rework saves significant reprocessing fees. Or in customer service, agents may not know that retaining high-value customers is prioritized over acquiring new ones. Financial transparency illuminates the business priorities and costs behind operational targets. It provides a more holistic view of how individual roles contribute to organizational success.
Armed with this context, employees can make more informed choices to maximize productivity and efficiency. A production line manager may reallocate resources to reduce the most expensive defects. A customer service rep would prioritize resolving issues for loyal, high-spending clients. Overall, financial transparency facilitates continuous improvement by aligning frontline efforts with profitability goals (Baker, Jones, & Becker, 2016).
Of course, sharing sensitive data requires discretion. Financial details should be framed positively and tied to specific roles. Generic reports risk demotivating workers who feel results are outside their influence. Regular feedback also maintains relevance as business priorities evolve over time. With the right approach, financial transparency empowers employees as strategic partners in customer relationships (Gittell, Cameron, Lim, & Rivas, 2006).
In summary, supplementing operational metrics with relevant financial data allows frontline workers to optimize processes from a business perspective. It provides the full context needed to make quality, productivity and responsiveness decisions that maximize customer value and organizational profitability over the long term.
Baker, R., Jones, D. R., & Becker, F. (2016). Community-based health worker initiatives. Journal of Ambulatory Care Management, 39(1), 72–81. https://doi.org/10.1097/JAC.0000000000000093
Gittell, J. H., Cameron, K., Lim, S., & Rivas, V. (2006). Relationships, layoffs, and organizational resilience: Airline industry responses to September 11. The Journal of Applied Behavioral Science, 42(3), 300–329. https://doi.org/10.1177/0021886306286466

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Accounting Discussion board- mod 4
For this discussion, think about your personal experience with the topics along with the material covered in this module.

Instructions:

This module discusses activity-based costing systems. Discuss all of the following:

The advantages and disadvantages to using an ABC system
Why an organization might not experience financial improvement after implementing an ABC system with hopes of process improvement and cost reductions
Expectations:

There are two components to each discussion board assignments:
1. Initial Post: Post your original response to the discussion prompts
2. Responses: Post replies on the posts of at least two other classmates that add something to the discussion utilizing concepts from the course. You should not merely compliment classmates or post your feelings about their post, but support your response with concepts from the assigned material for the course

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