Innovation in Accounting

The terms innovation and accounting are both well defined and understood. However, by combining the two terms together they take on a very different meaning. When traditional accounting measures are used to measure innovation, it often has the effect of stifling or suffocating the new product or start up company.…

Marketing and Sales Accountancy Planning

Why You Need a Business and Marketing Plan There is some debate regarding the need for home business owners to have a formal business plan, especially if you’re not asking for startup funding. However, a business plan isn’t only about appealing to banks. The truth is, every business, regardless of…

Finance and Restructuring

Restructuring charge is the cost which is incurred by the company whey they reorganize the operations of the business to improve the overall efficiency and longer-term profit. Restructuring charges are considered as non-operating charges as it is not considered under operating charges and is very infrequent. These charges are included while calculating…

Culture & Growth in accounting

Organizational culture encompasses values and behaviors that “contribute to the unique social and psychological environment of a business. The organizational culture influences the way people interact, the context within which knowledge is created, the resistance they will have towards certain changes, and ultimately the way they share (or the way they do not…

Right Direction in Accounting

The distinction between traditional and innovative accounting practices is illustrated with the visual timeline (see sidebar) of managerial costing approaches presented at the Institute of Management Accountants 2011 Annual Conference. Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement…

Innovation in Accounting

The terms innovation and accounting are both well defined and understood. However, by combining the two terms together they take on a very different meaning. When traditional accounting measures are used to measure innovation, it often has the effect of stifling or suffocating the new product or start up company.…