In the article (Matherly & Burney, 2013) it is stated that
the faculty members of the accounting have to go through two trials, amongst
others, while managerial principles are teaching. Primarily, deficiency of
appropriate work experience by students can make perceptions challenging to
understand. Next, some of the students often find the class work very difficult
and uninteresting. To support the students to overcome all of these challenges,
this article focuses on four in-class, learning actions for managerial
principles course use. These are said to be the activities in the class that
provides the students with a reference frame that can substitute for the
inadequate related experience of work and also help them recognize significant
concepts. In accumulation, the activities hands-on nature inspires students to
have an interest in the courses and the learning process, be an active member (Matherly
& Burney, 2013).
Assessing the impact of incorporating the American marketing
association integrated marketing plan competition in principles of marketing
In the article (DeFanti, 2016), it is stated that faculty of the
managerial accounting and marketing must adopt an inspiring team project that urges
the students to critically think and put on the fundamental concepts, elementary
concepts of managerial accounting and basic pricing concepts. In accumulation,
faculty must recognize the fundamental concepts that are utmost significant to majors
of the marketing, examine them by quizzes and complete final exam, and then test
them again in following courses of business to recognize which managerial
accounting concepts are not being reserved by marketing students of undergraduate
level (DeFanti, 2016).
Management's Awareness for Implementation of Contemporary Accounting
Concepts in the Republic of Macedonia
According to the research
conducted by (Spaseska, Vitanova, Risteska, & Risteska, 2014), it is reviewed that
the understanding of the resolute objectives in radically changed working circumstances
needs new approaches development, new models of business and management ideas.
As a significance, managerial methods and practice meaningfully transformed in the
20th century last decade and those fluctuations are said to be ongoing in the
21st century. In this background, modern tendencies existing in managerial
accounting are linked with its considered perceptions, for example,
just-in-time system, management of total quality and activity-based costing
system (Spaseska, Vitanova, Risteska,
& Risteska, 2014). Preliminary from a.m., this research
key objective will be focused on data providing if entities of the Macedonian
business are acquainted with these perceptions and the way to device them.
For this reason, a survey was
conducted on the Macedonian company’s representative sample. The inspection showed
in this article to demonstrates that entities of the business in R. Macedonia that
still put on these techniques of accounting not adequately. Found results are accessible
in this article (Spaseska, Vitanova, Risteska,
& Risteska, 2014).
The Relevance of Managerial Accounting Concepts in the Banking Industry
According to the research
conducted by (Rezaee, 1988), it is reviewed that the requirement
for profit contribution internal procedures is undoubtedly manifest for
financial institutes. The trouble is maintaining and establishing a broadcasting
system that is reliable, comprehensive, useful and relevant. Researchers have to
recognize numerous stages of reporting for bank profitability. For instance,
Johnson and Roosevelt define eight stages, while Faletti shows four, and Duncan
and Chisholm inspect just three stages. The alterations lie further in degree
than in material. Essentially, there are three different bank profitability phases
for the reporting: profit centre reporting and responsibility, reporting of the
product profitability, and reporting for the customer profitability is also
discussed in this article (Rezaee, 1988).
The Pros and Cons of Fair Value Accounting in a Globalized Economy: A
Never-Ending Debate
According to the research
conducted by (Marra, 2016),
it is analyzed that the fair value accounting is not a novel idea, in decisions
of business or reporting of the finances. However, because of the big variations that happened
over previous 20 to 30 years in the international financial system and
influence financial crisis of 2007, it has also recurred as the ‘‘hottest topics’’ on Accounting Standards
plan setters under U.S. International
Financial Reporting Standard and Generally
Accepted Accounting Principles (Marra, 2016). Recent research
appears to be well-adjusted across the fair value pros and cons, loaning ammo
both ‘‘in favour'' and ‘‘opponents'' of the fair value accounting. Partisanship,
approximations, and decision-making discretion infuse the concept, measurements,
and definition of the fair value, departure of such capacities exposed to a destructive
use of estimates and judgment. On the other hand, fair value accounting is carefully
connected to the globalized needs an economy based on the information and is possible
to raise insignificance and future use (Marra, 2016).
Managerial Accounting as a Conceptual Basis of Integrated Management
System in Small Businesses (Kazakhstan's Agro-Industrial Sector)
According to the research
conducted by (Tokenova, 2015), it is reviewed that the article considers
the up-to-date methodical methods to the management systems integration, concepts
interpretation of understanding of management and managerial accounting and small
businesses accounting. The object presents the key outcomes of Kazakhstan's analysis
problems of the agro-industrial sector, methods of the solution, depending on the
global experience and features of small business entity in Kazakhstan (Tokenova,
2015).
Concept Mapping - A Graphical Tool to Enhance Learning in an
Introductory Cost or Managerial Accounting Course
According to the research
conducted by (Handy & Polimeni, 2017), it is stated that
the education of accounting has been disapproved for its main memorization
based on the rule method to accounting teaching. This article offers a
different approach for the teaching, known as mapping concept that can be
applied to encourage significant knowledge. Concept maps are said to be the graphical
apparatuses used to establish and signify information and can allow the students
to attach what they learn with previous information. The agenda fundamental idea
mapping is accessible with a studies review measuring their efficiency in accounting
teaching and instances that used in the education of an accounting cost or introductory
managerial course (Handy & Polimeni, 2017).
Using a Practical Case to Introduce and Apply Managerial Accounting
Cost Concepts
According to the research
conducted by (Gates & Burke, 2015), it is reviewed that
the cost concepts understanding and practical application is a managerial
accounting essential requirement. To learning facilitate, this circumstance offers
students with the practical and simple activity of active learning. The case
discussed in the article also permits students to practice decision making comprising
numerous concepts related to cost. It was industrialized for usage also as an accompaniment
to in-class actions or like the separate assignment. The situation challenges the
students to deliberate further than the environment of manufacturing by discovering
the cost concepts application for a private service company (Gates &
Burke, 2015).
The testing in the classroom designates that students set up the circumstance
to be suitably stimulating and requisite them to critically think. This is said to be the case that can be used in
a graduate or undergraduate course of the managerial accounting that provides
students without a resilient background of the accounting. The case structure
also likely to permits to use at the commencement of the development; this determination
gets the students directly involved with the activities of the course. The major
two questions related to the identification can use as class discussion part (Gates &
Burke, 2015).
How to Implement Lean Six Sigma in an Accounting Practice
According to the research
conducted by (Kepczyk, 2014), it is analyzed that the efficiencies
in the overall production in the environment of manufacturing are being functional
to accounting practices and audit and structure quality control in the three main
stages of engagement compliance. Fieldwork, wrap up/ delivery, and planning, to
add value from the perspective of the client, that is turn to be an important
differentiator in A&A services delivery. The overall planning must be complete
with the whole team engagement mainly and then comprise the customer, so expectations
of everyone are established. It needed to be taken into account the client size
and the whole engagement risk and be completed in combination with some other alike
niche customers to advance the team efficiency (Kepczyk, 2014).
Role and Importance of Professional Accountants in Organizing
Managerial Accounting
According to the research
conducted by (LESCONI-FRUMUŞANU, 2016) it is reviewed about
the managerial accounting issue, on fundamentals that break at the centers of
the procedure which is likely to allow
the professional accounts to use their information get over years, in related ground,
to offer essential information to start a suitable procedure for scheming the
price. This article also presents an indication of international and national
methods to the managerial accounting concept, ways to control and categorize
the practices of the managerial accounting come across in the precise
literature, discussed topic, in Romania, less practical and more theoretical, particularly
in small or micro entities. There were presented, as innovations, standards for
public contracts award by meaning the sub-criteria "lowest cost" and "value
for money". Consequently, it is believed that the professional
accountant's role grows into an object, when it is a purchaser or in case of authorities
for contracting (LESCONI-FRUMUŞANU, 2016).
References of Managerial
Accounting Concepts
DeFanti,
M. (2016). ASSESSING THE IMPACT OF INCORPORATING THE AMERICAN MARKETING
ASSOCIATION INTEGRATED MARKETING PLAN COMPETITION IN PRINCIPLES OF MARKETING . Marketing
Management Association , 91-92.
Gates,
S., & Burke, M. (2015). Using a Practical Case to Introduce and Apply
Managerial Accounting Cost Concepts. Journal of Accounting and Finance, 15(7),
22-33.
Handy,
S. A., & Polimeni, R. S. (2017). Concept Mapping - A Graphical Tool to
Enhance Learning in an Introductory Cost or Managerial Accounting Course. Journal
of the Academy of Business Education, 161-174.
Kepczyk,
R. H. (2014). How to Im plem ent Lean Six Sigm a in an Accounting Practice. TECHNOLOGY
IN PRACTICE, 28-29.
LESCONI-FRUMUŞANU,
N.-M. (2016). ROLE AND IMPORTANCE OF PROFESSIONAL ACCOUNTANTS IN ORGANISING
MANAGERIAL ACCOUNTING . 173-183.
Marra,
A. (2016). The Pros and Cons of Fair Value Accounting in a Globalized Economy:
A Never Ending Debate. Journal of Accounting, Auditing & Finance, 582–591.
Matherly,
M., & Burney, L. L. (2013). Active Learning Activities to Revitalize
Managerial Accounting Principles. ISSUES IN ACCOUNTING EDUCATION,
653–680.
Rezaee,
Z. (1988). The Relevance of Managerial Accounting Concepts in the Banking
Industry. Bank Administration, 40-44.
Spaseska,
T., Vitanova, G., Risteska, A., & Risteska, F. (2014). Management’s
Awareness for Implementation of Contemporary Accounting Concepts in Republic of
Macedonia . TEM Journal, 63-67.
Tokenova,
S. M. (2015). Managerial Accounting as a Conceptual Basis of Integrated
Management System in Small Businesses (Kazakhstan's Agro-Industrial Sector). European
Researcher, 104-113.
