会计学英汉对译文章.docx

会计学英汉对译文章.docx

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会计学英汉对译文章

ManagementAccounting

Anyorganization,whetherpublicorprivate,hastolivewithinfinancialconstraintsandtodeliverperceivedvalueformoneytoitsstakeholders.Theroleofthefinancefunctionistomanagethefinancialresourcesoftheorganization,andtoensurethatthefinancialconstraintsitfacesarenotbreached.Failuretodothiswillleadtofinancialdistress,andultimately,formanyorganizations,tofinancialfailureorbankruptcy.Establishmentofpreciselywhatthefinancialconstraintsareandhowtheproposedoperatingplanswillimpactuponthemareacentralpartofthefinancefunction.Therearethreemainareasoffocusforfinancialplans.Mostbasically,cashflowplanningisrequiredtoensurethatthecashisavailabletomeetthefinancialobligationsoftheorganization.Failuretomanagecashflowswillresultintechnicalinsolvency.Forbusinessorganizations,thesecondarearequiringattentionisprofitability,ortheneedtoacquireresourcesatagreaterratethanusingthem.Althoughoverthelifeofanenterprise,totalnetcashflowandtotalprofitareessentiallyequal,thiscanmaskthefactthatintheshort-termtheycanbeverydifferent.

Indeed,oneofthemajorcausesoffailureofnewsmallbusinessenterprisesisnotthattheyareunprofitableinthelongterm,butthatgrowthinprofitableactivityhasoutstrippedthecashnecessarytoresourceit.Themajordifferencebetweenprofitandcashflowisthetimeperiodbetweenpaymentsmadeforcapitalassetswhichwillgenerateincomeinthefutureandtheactualreceiptofthatincomewhichisneededasworkingcapital.Thishighlightsthethirdareaoffocus,namelyonassetsandtheprovisionoffinancefortheirpurchase.Businessesneedtoknowabouttheirfinancialperformancetoaccesswhatarethethingstheyaredoingright.Thepapertakesalookatthetwoformsofaccountingsystems.Thepaperwillalsodiscussontheconcerntowardsthefinancialandmanagementaccounting’slinkageandsuchlinkagedrawingoperatingdecisionmakingintoashort-term,narrowfocusnotsupportiveofthemosteffectiveoperations.

1.Managementaccounting

Manycompanieshaveturnedtotheirmanagementaccountingsystemstobypassthelimitationsoffinancialaccounting.Someofthemhavedevelopedbestpracticesthatgivethemafirmfoundationfortrueaccountability.However,manycompanieshavenotgottenbeyondthecrisisinmanagementaccountingthatcreptintoplaceearlyinthecentury.Thatis,theyusemanagementaccountingasnotmuchmorethanadata-gatheringdevicefordeterminingproductcostsandcompilingexternalfinancialaccounts.Managementaccountsaredrivenbythecycleandproceduresoffinancialaccounting.Theinformationismostusefulfortaskslikevaluinginventoryandaggregatingcostsacrossthecompany.

Itisanincompletebasisformeasuringperformance.Anycompanythathasnotradicallychangeditsmanagementaccountingrisksfindingitproducesproblemssimilartothosecreatedbyfinancialaccounting.Thetwomostcriticalproblemsareproddingmanagersinto,first,anincessantfinancialfocusand,second,aneartotalrelianceonhistorical,orlagging,indicatorsfordecisionmaking.Theproductandservicecoststhatmanagersreceive,themeatandpotatoesofmanagerialaccounting,oftenreveallittleaboutthenonfinancialfactorsofperformancethatcreatecosts,likecomplexproductdesignsordefectivecustomerservice.Thecostdatahelpmanagerskeepthefinancialscorebutnotnecessarilyhowtoimprovetheirlong-termbattingaveragecompaniesthatdependonfinancialaccountingandtraditionalmanagementaccountingsystemsareincrisisbecausetheyaremissingthefirstelementformakingtheaccountableorganizationwhichisrelevantandcomprehensivemeasuresofperformance.Withoutsystemsthatextendbeyondthefinancialstononfinancialsandthataccuratelytallyproductcosts,fewmanagersorexecutivescandeliveramaximumofvaluetoshareholders,customers,oranyoneelse.

Managerswidelyrecognizetheproblemtoday.Inastudy45percentofcompaniessaidthattheirperformancemeasurementsystemhadaneutraltonegativeimpactonlong-termmanagement.What'smore,respondentswhoreportedtheleastsatisfactionwiththeirperformancemeasurementsystemsusedfinancialsmoreintenselyandusedfewernonfinancialsthandidrespondentswhoreportedmoresatisfaction.Littlesurprisethat65percentsaidmostoftheirmeasurescamefromthecurrent-yearfinancialresults.Measureshavegreatpower,almostlikegeneticcode,toshapeactionandperformance.Whetherattheequivalentofthecelllevel,theorganlevel,orthesystemslevel,measuresbecomethedirectionaldevicethatinfluencesorevendictatestheshapeoftheenterprise.Changethemeasures,andyouchangetheorganism.Measureshavealwayshadthepowertoshapeacorporation'sdestiny,butthefocusonfinancialfiguresalonelimitedtheirutility.

Managementaccountingofthepastforcedmanagerstobuildworld-classorganizationsanditisbuildwithatruncatedsetofchromosomes.Today,though,withthehelpofrevitalizedcostaccountingandnonfinancialmeasurement,managerscandevelopafullsetofinstructionsfinancial,operational,andsocialfortheenterprise.Thoseinstructionsgivethemthecapabilitytocreateaccountabilitytheyneverhadbefore.Themarkofthefinanciallyaccountableorganizationhaschanged.Onceuponatime,standardaccountingmeasureslikeearningspersharewerethegoldstandardsofperformancemeasurement.Traditionalmeasurestoday,ifusedinisolation,raisearedflag.Theysignaltoinvestorsthatmanagersmaybereportingtheirperformancereflexivelyasslavestotradition,ratherthanasleadersofawell-wroughtfinancialandbusinessstrategy.Asacomplementtofinancialaccounting,companiesmakeuseofmanagementaccountingtocheckitsperformanceandknowwhichoperatingpartofthefirmtheyarenotdoingwell.

2.Improvementsinmanagementandfinancialaccounting.

Thereismountingevidencethatthedeploymentofdigitaltechnologiesbyorganizationsnotonlyaffectstheeconomicsofoperationalandmanagerialprocessesbutalsomobilizesextensivesocialandorganizationaleffects.Digitizationimpactstheform,substance,andprovenanceofinternalaccountinginformationwithattendantconsequencesonthebehaviorandactionsoforganizationalparticipantsandonthefunctioningofenterprisesmorewidely.Knowledgeabouttheinfluenceofthedeploymentofdigitaltechnologiesonmanagementaccountingthinking,processes,andpracticesisstartingtotakeshape.Asenterprisesbecomeincreasinglyconcernedwiththegenerationandtheprocessingofdigitizedinformationrelatingtotheproductionanddeliveryofphysicalanddigitalproductsandservices,thechallengewillbetosustainsufficientcredenceinthemonitoring,measurement,andassessmentofthesealteringorganizationalactivities.

Trustiscoreinthisregard.Ifitcanbeclaimedthattrustisbecomingthemostimportantassetinthedigitaleconomythenwhatcomprisestrustininternalaccountingswilllikelyseetransformations.Novelaccountingconcernscenteringonfaithinnumberswillonceagainemergeandcontemporarycontrolsystemswillnodoubtcontinuetofacecallsforreforms.Accountingmeasureswillseektoendangertrustincontextswherewhatisbought,sold,orproducedneverassumesphysicalform.Althoughserviceproductshavealwaysevidencedsuchcharacterization,themeansbywhichtheyaredeliveredhavenotordinarilydefieddesiredtransparencyorthepotentialforobservationinthesamewayasdigitalprocesses.Countingbasedonobservationorobservationsenablingevaluationstobemadearenotalwaysamenabletooperationalizationincontextswheredigitalratherthanphysicaltransactionsunderpinenterpriseactivities.

Digitalprocessesoftenevadephysicalverification,andestablishedmodesofenumerationandevaluationwillthereforelikelycomeunderquestion.Howfaraccountinginformationcanbetrustedisnotsubjectmerelytothedevelopmentofmorerationalformsofcapturingtheeconomicconsequencesoforganizationalactivitiesrestingondigitalprocesses.Humaninterpretationsofthesignificanceofdeployingdigitaltechnologiesandtheirrepresentationineconomictermsarealsoarelevantissue.Alterationsinthecaptureandreportingofinformationaswellasthechangingnatureoftheproductthatistobereporteduponwithindigitizedorganizationalcontextswilllikelyhavebehavioralimplicationsworthyofstudy.Behavioralaccountingresearchwhichhastraditionallydocumentedsimilaritiesandvariationsintheusesandimpactsofaccountinginformationonindividualswillraisenewconcerns,questions,andissues.

Attheindividuallevel,digitizationwillaffectthetypeofaccountinginformationbeingreportedaswellasthemannerinwhichitisusedandtheresultingconsequences.Theriseofdigitizationwhichmayinpartoccludethetransparencyoforganizationalaffairs,willimpactonpressurestoportraymanagementaccountingworkasbeingtechnicallyandinternallylegitimate.Thiswillproveparticularlypertinentinthenearfuturegiventhat,intherecentpast,theaccountant'scredibilityinpublicaccountingfunctionshasbeentarnished.Justasconsumersrelyonbrandstoguidetheirchoicesasproductdiversityandcomplexitygrow,andasbarrierstoentryinmanymarketsdrop,sothelinkagebetweenthemanagerialtaskandtheknow-howofinternalaccountantswillbeshapedbythecredibilitywhichmanagementaccountingcanengenderwithinenterprises.Themanagementaccountantwillneedtoprojectnotsimplytraditionalprofessionalismbutthe