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state two reasons why a company should use a system of management accounts

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12y ago

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Should the JVs be consolidated with the holding companys final accounts?

It depends on where the holding company is located and the shareholding that the holding company has in the JV. At a minimum, the JV should be included in the Holding company's accounts as an investment and consolidated as such.


What should the owner of a company do with regard to charges on cashing employee checks?

It's very bad for management - employee relations to charge employees to charge them at all for cashing their paychecks. If the company is a bank, all types of bank services such as checking accounts, savings accounts and check cashing should be free. Also, if the company is a bank, discounted loans for personal loans and mortgage loans will help employees morale and loyalty.


Why company should use a system of management accounts?

A system of management accounts provides companies with timely and relevant financial information, enabling informed decision-making and strategic planning. It helps in monitoring performance against budgets and forecasts, allowing for quick identification of variances and corrective actions. Additionally, management accounts facilitate better resource allocation and enhance operational efficiency by providing insights into cost control and profitability. Overall, this system supports a proactive approach to managing business performance.


When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?

2


After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?

2

Related Questions

What types of controls should a company implement with respect to managing it's cash assets?

A company should implement strict internal controls related to the management of its cash assets. This includes who is permitted to access cash assets, how cash can be spent, and how much cash should remain in accounts.


Should the JVs be consolidated with the holding companys final accounts?

It depends on where the holding company is located and the shareholding that the holding company has in the JV. At a minimum, the JV should be included in the Holding company's accounts as an investment and consolidated as such.


What should the owner of a company do with regard to charges on cashing employee checks?

It's very bad for management - employee relations to charge employees to charge them at all for cashing their paychecks. If the company is a bank, all types of bank services such as checking accounts, savings accounts and check cashing should be free. Also, if the company is a bank, discounted loans for personal loans and mortgage loans will help employees morale and loyalty.


What to expect from your management team?

You should expect your management team to run the company as you would or better and also be able to give strict orders. A management team should keep you updated on all issues concerning your company.


Why company should use a system of management accounts?

A system of management accounts provides companies with timely and relevant financial information, enabling informed decision-making and strategic planning. It helps in monitoring performance against budgets and forecasts, allowing for quick identification of variances and corrective actions. Additionally, management accounts facilitate better resource allocation and enhance operational efficiency by providing insights into cost control and profitability. Overall, this system supports a proactive approach to managing business performance.


If a property management company forgets to pay owner for past month rent should the property management company still collect fee for services?

No, It Will not. It will give free management service.


Should you keep your combat arms account?

Yes, you should never give out any accounts for many reasons. Some reasons are: you might want to play again, the recipient may do bad things with the account.


When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?

2


After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?

2


When confirming accounts payable emphasis should be put on what kind of accounts?

Vendors that the company has made a large number of purchases from (in terms of dollar value). The account balance does not matter.


In double-entry accounting, where should you record money that is leaving your company to pay bills?

In double-entry accounting, money leaving your company to pay bills should be recorded in the accounts payable account.


How are joint cash management accounts for a married couple after one has died?

If the account was originally set up as joint tenants with the right of survivorship then full ownership passed to the surviving joint owner. A copy of the death certificate should be sent to the company holding the account.