Managing Change (Assessment 2- Change analysis) Essay

Managing Change (Assessment 2- Change analysis) - Essay Example In the first part, the example of the organization where I was working is given whereas in the next part the example of change in my friend’s university is explained briefly. The paper ends with recommendation and findings that have been gathered from both the examples. Part A Two years ago, I rendered my services for a local telecom company. The company possesses a large market cap and is considered as one of the leading telecom companies in the country. I was working as a customer service agent in that company and my job was going relatively fine. During my employment over there, the company underwent a substantial change. That change brought opportunities for some workers, but a large number of workers were resisting change. Among them, I was also the one. The type of change which the organization experience was ‘Organizational Restructuring’. The company acquired a new and growing Internet Service Provider Company. This change not only affected the employees b ut also impacted the customers since I was the once who attends customers calls and therefore I can judge their responses. Rationale for Change The basic criteria which led to this acquisition were the deeper linkages between telecom industry and internet connectivity systems. Nowadays, almost every telecom company which is offering cellular service is engaged in providing internet services as well. Our company was lacking this area of providing internet facility to our customers therefore it instantly identified a local emerging internet service provider company and acquired it immediately. The rationale for acquiring this company was that after viewing the performance and financial position of that company, our top management realized that there are substantial chances for this company to expand and grow even more in future. In this way, it will become an additional revenue generating unit for our company and the deficiency of providing internet facility will also get fixed. Chang e Process Management The merger and acquisition which are taken place in telecom industry are called as horizontal mergers because all the entities belong to the same industry. Therefore the merger between our company and the small ISP Company was also a horizontal merger. Change management process requires taking some necessary steps at the side of top management. These steps include preparing the employees and customers about the upcoming change. For acquisition, our company had to prepare the employees who were resisting change. In this regard, HR managers conducted seminar and workshops to train employees in dealing with change. Some of our valued customers were also informed about our upcoming expansion so that more trust is built between us and our customers. Apart from this, the change management process also required to downsize where it is required. Few redundant employees were fired. Some redundant departments and operations were also closed. Response to Change Responses t owards this change varied from employee to employee. Some employees who got promoted were motivated and enthusiastic whereas those who lost their jobs were certainly very depressed. The overall responses of internal management and employees can be considered as positive because large numbers of employees were motivated, positive and optimistic about this change. Everyone was expecting that this acquisition will prove to be fall in favor of our company because the right

Racial discrimination Research Paper Example | Topics and Well Written Essays - 2750 words

Racial discrimination - Research Paper Example Racism involves more than cognizant ill-will, more than willful acts of exclusion, avoidance, violence and malice committed by individuals. Racism explains the actuality of unjust benefit, bestowed authority, and unseen concession which the white Americans enjoy, to the burden, detriment, and drawback of the individuals of color. We may infer that racial bias works my means of acts carried out of conscious alertness. Also racial discrimination is not naturally bestowed upon human beings, it is a created vice. Racism or racial discrimination is rather complicated and is not the mundane understanding. It is far worse than the actions of bigotry, bias, and exclusion. Racism is a way of accepting and inferring discrepancies in the color of the skin which makes the white Americans have the benefit of an advantaged social class which provides admission and gains to the disadvantage, detriment and trouble to individuals of color. In all permutations, racial discrimination is at the centre a resistance of social benefits based on racism (Synder, 2008). Globalization and racial discrimination The super powers of today, like, Australasia, European countries and North America and pockets of wealthy nations have quickly adjusted to the strategy to embrace apartheid in a bid to protect themselves from the risk of privileged lifestyles and territorial integrity. This hazard is posed by the imminent increase in international migration from underdeveloped to developed nations, especially nations witnessing the collapse of its governments to those having a strong and stable functional political environment. In fact, a bulk of 23 million displaced persons and immigrants worldwide hail from the poorer Third World nations. This is where racial discrimination with reference to inhospitable reactions from developed nations towards these migrants is the highlight of widespread racial discrimination conducted. Despite the fact that, official apartheid conducted in South Africa has now been banned, nations worldwide are in favor of making preventive policies and acts of control which are strikingly similar to those acts of apartheid conducted in the 1950s in South Africa. Moreover, these nations have plausible reasons for imposing such policies in the name of defending the existing social institutions and cultures, maintaining law and order, enhancing security in states, preserving economic benefits, safeguarding ethnic identity and a means of managing and regulating movements in population. The breakthroughs attained in technology especially in the field of communications have spurred interdependence and closer linkages in many parts. Occurrences taking place in a particular area may activate a series of incidences which may have effects in nations which are far away from the scene of crime. Also one can opine that globalization is responsible for certain challenges. The worldwide economy is subject to the interlinked economies of the Europe, United States, Japa n, and the quickly increasing ones of Singapore, Hong Kong and Taiwan. Pressures of migration have resulted from changes in the region of economic growth places and from dislocation caused by clash (Richmond, 1994). Racial discrimination in the workplace Racial/ethnic pestering and discrimination means unwanted, uncomfortable or unwelcome treatment on the basis of ethnicity or race and pressurizes the targeted individual’

Changing In The Role Of Management Accountant Accounting Essay

Changing In The Role Of Management Accountant Accounting Essay Abstract This essay gives an overview of the changing role of management accountant and the management accounting practices. An idea of how these changes were developed and the factors behind the changes what were the reasons for implementing the changes, what were the main drivers and to what extent these changes are now being practice in the real business world? Introduction Over the few decades- many writers have pointed to the work of Johnson and Kaplan (1987) as an organ in this respect that there has been a shift in the expectation of management accountant. This essay is a brief overview of why, how, and to what extent there has been a change in the role of management accountant over the last three decades. In the past decades business environment has changed significantly, this is mainly because of the changes in technology and ever growing demands of business managers all around the globe. These changes have brought a significant level of change in economical factors of business world and management accounting is no exception. And with these changes management accounting as a whole is effected, it has brought changes in accounting system and techniques and has been subject to various debates as to bring changes in the function of accounting. Nevertheless, there have been mainly two types of development: adoption of new tools and techniques which en hances accounting practice, and on the other hand change in the role of management accountant, which is towards acting more in decision making and advisory rather than solely focusing on providing information. In the following sections this essay will give a brief idea of the main reason behind the changes and how these changes effected the management accounting practices and to what extent these changes are adapted by the accounting sector. Reasons for the changes The ever changing environmental and technological factors has affected the global economy in past few decades, and accounting and finance is a key player in running any economy. And as being a major factor in running any economy accounting practices has suffered significantly. But the focus in this essay is on management accounting and its practitioner and why, how and to what extent there has been a change in their practice. Laboring under the shadow of financial reporting, auditing and taxation, on number of occasions management accounting has escaped the spotlight of critics. Often management accounting and the role of management accountant is relegated to the lower crust of accounting, and was limited to the role of organizational book keeping and budgeting and sometimes only to the extent of obligatory university or professional body courses. But if we look in this matter from historical point of view management accounting was and to some extent still considered as a dull profession. We can say that due to globalization of markets which have increased competition, and now markets are more volatile, where reaction time is very little for companies to act. Advancement in information and production technologies, which have reduce the time of information processing by accounting specialist and has enabled other organizational staff to take up tasks by themselves which were previously labeled for accountants.  [i]   Furthermore systems like SAP are becoming more common in multinational companies, and in some medium size companies. A recent survey on this topic has also proved that there has been a change in needs of mangers information; this might be because of the changing style of organizational structure. In recent years due to severe competition among organizations of being on top, and where change is necessary because of different market conditions, and of course different business strategies used in different organizations. All these factors are the reason for the change in the practice of management accountants. Implementing the changes and its Effects If we summarize the recent surveys on changing role of management accountant, we will see that there are two types of factors that have brought a change in the environment of management accounting operations. Externals factors have forced organization to change there internal structures to compete with ever improving technological industry. The 21st century management accountants have developed into a multi-functional engine and are more involved in accounting matters than before. Now managers need more information than before, for decision-making and relevant organizational matters needed for profitable outcome. Internal organizational factors like decision making require more advance information and efficient modes are required to perform such tasks. So with that majority of the information management accountant have these days are computerized and are easily accessible at all levels of the organization and managers who can immediately see their variances and monitor their performance daily. These new development has replaced old methods where managers were able to see the progress at the end of the month. During a conversation between CIMA members it was stated: now systems are such that managers can generate information without reference to the financial analysts. So both have access to the same information. But they both use it in different ways. That has been a major change. A variety of terms are used to describe the new role of management accountant is or should be aspiring, which include modern business-oriented accountant (Granlund and Lukka, 1998b), business partner (Siegal and Sorenson, 1999), internal business consultants (Burns and Vaivio, 2001), strategic management consultant (Holtzman, 2004), or Hybrid accountant (Burns and Baldvinsdottir, 2005). Nevertheless, theme was one way or the other same regarding the new role.  [ii]   But the matter of fact is the role of accountant is more important than before, not only in the corporate level, but also at national and international level. The main focus of management accountant has always been to improve their organizations performance and profitability, but now due to changes in different environmental and economical factors their approach has changed in recent time for good. Noticeable change over time is that in years before, a great deal of management accounting work was driven by the need of compliance and control. But now, emphasis on compliance and control are declining, while factors like competitive support has risen due to increased competition, greater customer focus, importance of quality and of course globalization. The increased emphasis on competitive support now require management accountant to have strong analytical and communication skills. Furthermore, they now support and process managers, and are directly involved in decision making. They are also involved in long and short-term planning, they also have to develop systems to support and provide essential information needed. With these new developments management accountant must directly involved in formulation, and the implementing business strategies. To what extend there has been changes Today, as compared to previous decades management accounting practices has changed quite a bit, now management accountant has to reconcile the broad view of business. Today management accountant are more effective and efficient. Management accounting is changing, and reason for these changes is the factors. These factors are as mentioned above: changes in the economic and social structures, globalization issues, changes in the markets, and technological developments and last but not least need for organizations to become customer focused. The focus have shifted from historical stewardship to more advance role of strategic planning and feed forward control (pierce, 2001). Now armed with advance skills, new technology, more analytical skills and leadership qualities the new management accountants are emerging with the change. Management accountant these days spend their time on strategic management accounting with a view of broadening the concept of traditional management accounting. The term strategic management accounting was first introduced by Ken Simmonds in 1981. And CIMA describes this terminology as a form of management accounting that focuses on information which relate to factors external to the firm, as well as non-financial information, and internally generated information. This integration is now more important because it enables managers to see the day-to-day development of the business process. How these processes are being handled and what will be there outcome, and that way this is seen as an important function of the new and more advance management accountant. And with the changing role of management accountant, in some companies their job titles are also changing as mentioned above like business advisor, business analyst and few others. Furthermore, some surveys have suggested that there will be more changes in the role of management accounting, management accountants will be taking up the duties of handling matters like designing, developing and operating financial and management information system. The trend is that management accountant is now working more with business units, rather than working as an individual unit as happened in the past. This is mainly because of the shift in the duties of the management accountant and changes in the organizational structures. Now management accountant work alongside managers, engineers and so on.  [iii]   In some cases it is noted that management accountant are more involved in issues of corporate strategy, they are more involved and are not acting as an individual unit, and this is the reason the need for management accountant to be more skillful, advance are becoming a mandatory qualification. To sum up the situation of the role changing or we can also say that taking it to next level the factors played a very important role, factors such as; technology, restructuring, globalization, takeovers/mergers, new accounting techniques and so on. Management accountants are adapting to the change which is not only helping the organizations to be more effective in making profit, but it is also improving the dull image of the management accountant. Conclusion In the end we can say that the changing roles of management accountant are for the good of the profession. As to compete in this fast growing economical world, with all the development that are taking place around us accounting and finance plays an important role in any successful economy. As a whole the role of management accountant have moved into another level. With all the new techniques and technological advancement have brought new softwares which have made work easy and faster for the management accountant, which is always a need in this fast pace world where markets are very competitive and margin of error is very high.

The Meaning and Symbolism of the Hunting Scenes in Sir Gawain and The Green Knight :: Sir Gawain Green Knight Essays

The Meaning and Symbolism of the Hunting Scenes in Sir Gawain and The Green Knight Sir Gawain is a poem of heroism, chivalry, brave knights and even romance. The story itself is so engaging that all too easily the reader may miss many of the symbols present within. Here we will consider the symbolism and importance of the hunting scenes and how they help develop and enhance the plot. The hunting scenes in Sir Gawain are numerous and told in detail. Why did the author spend so much space in what seems to be just action scenes? Unquestionably such a talented author would never carelessly spend time on lines that do not add meaning to the story. One critic's overzealous opinion is: all the hunted animals convey connotations of evil, and this is doubtless the reason why the author of the poem seems so involved in the outcome of the hunts and never tires of triumphantly describing the final slaying of the pursued animals. (Howard 85) This is an interesting interpretation and could possibly serve as a religious meaning in the poem. Nevertheless the animals themselves are never described as evil nor is there any implication of evil animals in the poem. The animals do hold specific meaning though not malevolent like the above quoted critic believes. Medieval people loved stories of animals that assumed human qualities; for example Chantlicleer, the rooster in Chaucer's Canterbury Tales. Many animals were thought to have qualities of human emotions, spirituality and even intelligent qualities; the three hunted animals in Sir Gawain included. To begin, "Certain facts about the animals which formed the quarry of the medieval huntsman...and certain popular beliefs about their habits and temper" (Savage 32) will allow the reader to draw parallels between the hunt, happening outside the castle; and the "hunt" happening inside the castle between Gawain and the Lady of the house. Insight is provided by understanding the attitude the medieval huntsman would have toward the animals. Hunted animals were classified as either "beasts of venery" or "beasts of chase". Beasts of venery included the male and female red deer, wild boar or the wolf. Beasts of chase were the male or female deer and the fox. Animals of the first class were considered noble to hunt. Animals of the second class do not fair as well, especially poor Reynard. At the time Sir Gawain was written "the fox was regarded as vermin to be hunted out and destroyed" (Savage 33).

Chooks to Go Marketing Plan Essay

Executive Summary Chooks to Go oven roasted chicken is the trade name under Bounty Agro Ventures Inc. a conglomerate of the Bounty Fresh Group of Companies with more than 1,100 rotisserie outlets nationwide, is aiming to increase its sales in the province of Misamiz Occidental by 10% this year. The company is outsourcing its workforce in the ir Chooks to Go outlets so that the company will be hands off in any legal claims. However, they still assure that the Chooks to Go crews will have the wages and benefits they deserve . The company is also abiding the National Building Code of the Phillipines in building their Chooks to Go stores. This is to ensure the safety of the public. The Bounty group is rapidly expanding its Chooks to Go stores nationwide . This is due to the confidence they have gain in the economy as it had achieved 7.3% economic growth last 2010 and expected to be better this year. Denizens nowadays are more into healthy living that’s why the Bounty Group ensures that Chooks to Go provides the customers a guaranteed safe, cl ean and a high standard preparation for chicken and when it comes to technological advantage the company continuously invest in Research and Development to be able to cater the consuming public the best service and product s they deserve. The company also uses various technologies in preparing its products and high end chemicals in cleaning its equipment. On the side of the micro-environment, it has been noted that the population of the province had increased from 91,410 to 112,650 from years 1995 to 2007 b ase on the statistical data presented by NSO on their website as of July 2011. This significantly means that the potential customers of Chooks to Go is also increasing. On the other hand base on that data given, Class A potential customers are in 20.75%, C lass B are in 18.74%, Class C potential customers are in 28.67% and the Class D are in 31.84%. The competitors of Chooks to Go roasted chicken in the province are Sr. Pedro Lechon Manok, Ogis Lechon Manok, Botoy’s Lechon Manok and other local roasted chicken operators. The competitions forces in the province are in moderate level. The strength of the company is that they manufacture their own products, they operate their own broiler farms, feed mills and processing plants thus they have the sufficient supply for the increasing demand of the public. There is a good opportunity now for the company of having a product line that would be infused with essential vitamins and nutrients because people loves to eat healthy foods, thus making chicken healthier will boosts sales for the company. However on the other hand, the company is not free from any threat of poultry diseases like Bird Flu that cause to disable the industry’s operation and making sales to rapidly decline. The Chooks to Go roasted chicken is pri ced at P 149, 155, and 165 pesos depending on the sizes. Available sizes are Regular size, Bigtime size and Supersize which comes in three different flavors, Sweet Roast, Hot and Spicy, and Pepper Roast. All this roasted chicken are available in all Chooks to Go rotisserie stores. Chooks to Go will be advertise on FM radio stations here in Ozamiz City and will run for a year. Chooks to Go will also engage in Community Development activities here in the province to encourage youth to engage in sports rather than in illegal activities. Chooks to Go will be continuously differentiated from its competitors to be the only oven roasted chicken na â€Å" Masarap Kahit Walang Sauce†. And because of all the efforts in marketing Chooks to Go , it will contribute a 10% increase in the company’s sales this year. Aside from that Chooks to Go will be popular not only as oven roasted chicken that is delicious even without sauce but as a brand that participated in society where it operates. II. Marketing Goal Chooks to go is the only ORC that position itself to be the only roasted chicken na â€Å"Masarap Kahit Walang sauce†. Chooks to Go that invades the country by storm last 2008 and now have more than 1,100 outlets nationwide is now aiming to increase its sales and market share in Misamis Occidental by 10% this year. III. Environmental Scanning PEST Analysis Political and Legal Environment The rotisserie crew of chooks to go is under an agency which is the one responsible for their wages and benefits, however Bounty fresh ensures that the outlets workforce get the wages and benefits they deserve. E.g Minimum wage pe r region Bounty Fresh also ensures that every Chooks to Go outlets abides the National Building Code of the Philippines which is the policy of the state to safeguard life, health, property, and public welfare, consistent with the principles of environment al management and control; and to this end, make it the purpose of this Code to provide for all buildings and structured, a framework of minimum standards and requirements by guiding, regulating, and controlling their location, siting, design, quality of m aterials, construction, use, occupancy, and maintenance, including their environment, utilities, fixtures, equipment, and mechanical electrical, and other systems and installations. Economic Factors We can say that the economy of the Philippines now is doing well because of its achieved 7.3% economic growth last 2010, that is why the Philippines seeks to attract more foreign investment and enable the long underperforming economy to catch up with its fast-developing Asian neighbors. And this becomes a go od opportunity for Bounty Fresh to invest more in expanding the Chooks to GO stores in the country by putting a store in almost every city of the country. Aside from that it is no lie that Chooks to Go creates more employment having more than 1,100 outlets across the country. Social and Cultural Environment Filipinos were undeniably chicken lover, they crave for chicken, and Chooks to Go answer this cravings by providing Filipino’s a delicious oven roasted chicken na â€Å" masarap kahit walang sauce† There is also no doubt that people nowadays is more conscious with their health. A safe and clean preparation for food is a big factor that’s why Chooks to Go ensures that it provides the customer a safe, clean, guaranteed fresh, and a high standard preparation for chicken. Technological Factor Chooks to Go continuously invest in R and D to innovate its product, aside from roasted chicken they create value added products that are available also in the rotisserie outlet. They used various technologies t o ensure that the products quality will be maintained such as using meat thermometer and timer to ensure that the Chooks to Go chicken will be cooked in such manner that will be loved by many Filipinos. Using warmer to maintain the products hotness, using high end chemicals in cleaning the products used equipment’s.

Accounting Ðnvironmеnt

It is a difficult challÐ µngÐ µ to maintain sight of accounting-spÐ µcific topics whilÐ µ studying accounting in thÐ µ rich and complÐ µx socio-Ð µconomic contÐ µxt in which it occurs. In an attÐ µmpt to mÐ µÃ µt thÐ µ challÐ µngÐ µ, thÐ µ focus of thÐ µ accounting cyclÐ µ is to: (1) idÐ µntify charactÐ µristics that makÐ µ accounting information uniquÐ µ and (2) undÐ µrstand how accounting is donÐ µ, and study how that may bÐ µ a consÐ µquÐ µncÐ µ of how accounting is usÐ µd. (Paton and LittlÐ µton, 1989)As Ð µxamplÐ µs of thÐ µ first propÐ µrty, accounting data is aggrÐ µgatÐ µd–a small numbÐ µr of accounts summarizÐ µ thÐ µ information containÐ µd in a largÐ µ numbÐ µr of transactions. It is prÐ µparÐ µd in accordancÐ µ with doublÐ µ-Ð µntry rulÐ µs. It is auditÐ µd. It is trackÐ µd ovÐ µr multiplÐ µ pÐ µriods. It givÐ µs thÐ µ prÐ µparÐ µr of accounting rÐ µports a curious amount of discrÐ µtion (through thÐ µ choi cÐ µ of accruals). ThÐ µ accounting cyclÐ µ also strÐ µssÐ µs that accounting information oftÐ µn works bÐ µst whÐ µn usÐ µd in conjunction with othÐ µr information.( HorngrÐ µn, FostÐ µr and Datar, 2000)First thÐ µ accounting cyclÐ µ is prÐ µsÐ µntÐ µd in its normal sÐ µquÐ µncÐ µ. That is, start with transactions, writÐ µ journal Ð µntriÐ µs, post to T-accounts, and prÐ µparÐ µ financial statÐ µmÐ µnts. WhilÐ µ this procÐ µss makÐ µs usÐ µ of doublÐ µ Ð µntry, it is unclÐ µar why doublÐ µ Ð µntry is bÐ µing usÐ µd. To dÐ µvÐ µlop a bÐ µttÐ µr apprÐ µciation for thÐ µ powÐ µr and bÐ µauty of doublÐ µ Ð µntry, onÐ µ turns to rÐ µvÐ µrsÐ µ Ð µnginÐ µÃ µring. That is, start with financial statÐ µmÐ µnts and dÐ µrivÐ µ transaction amounts that could havÐ µ gÐ µnÐ µratÐ µd thÐ µ statÐ µmÐ µnts. Working backward to uncovÐ µr transactions (thÐ µ invÐ µrting Ð µxÐ µrcisÐ µ) complÐ µmÐ µnts thÐ µ morÐ µ traditional approach of working forward from transactions to financial statÐ µmÐ µnts.OthÐ µr propÐ µrtiÐ µs (and advantagÐ µs) of doublÐ µ Ð µntry can thÐ µn bÐ µ Ð µxplorÐ µd. First, it allows for a convÐ µniÐ µnt rÐ µprÐ µsÐ µntation of information rÐ µtainÐ µd and supprÐ µssÐ µd during thÐ µ accounting cyclÐ µ. SÐ µcond, it allows for a visual-dirÐ µctÐ µd graph rÐ µprÐ µsÐ µntation, which makÐ µs somÐ µ wÐ µll-known nÐ µtwork flow rÐ µsults accÐ µssiblÐ µ. (Paton and LittlÐ µton, 1989)An application of thÐ µsÐ µ rÐ µsults is prÐ µsÐ µntÐ µd in thÐ µ contÐ µxt of auditing. In fact, thÐ µ auditing Ð µxamplÐ µ lÐ µnds somÐ µ illumination as to why accounting, and not othÐ µr information sourcÐ µs, is auditÐ µd. ThÐ µ kÐ µy again turns out to bÐ µ doublÐ µ Ð µntry.An advantagÐ µ of thÐ µ invÐ µrtibility Ð µxÐ µrcisÐ µ is that it allows accÐ µss to, and rÐ µlativÐ µly transparÐ µnt applications of, a numbÐ µr of thÐ µorÐ µms in appliÐ µd mathÐ µmatics. ThÐ µ invÐ µrting procÐ µss is, aftÐ µr all, solving a systÐ µm of linÐ µar Ð µquations and inÐ µqualitiÐ µs, a systÐ µm givÐ µn a spÐ µcial structurÐ µ by doublÐ µ-Ð µntry mÐ µchanics. ЕxamplÐ µs of thÐ µorÐ µms Ð µncountÐ µrÐ µd arÐ µ thÐ µ thÐ µorÐ µm of thÐ µ sÐ µparating hypÐ µrplanÐ µ, thÐ µ duality thÐ µorÐ µms of linÐ µar programming, thÐ µ max flow-min cut algorithm, and projÐ µction thÐ µorÐ µms. (HorngrÐ µn, FostÐ µr, and Datar, 2000)Applying thÐ µ thÐ µorÐ µms in a doublÐ µ-Ð µntry contÐ µxt typically allows a convÐ µniÐ µnt visual rÐ µprÐ µsÐ µntation Ð µvÐ µn of high-dimÐ µnsion problÐ µms. AggrÐ µgation is a pÐ µrvasivÐ µ thÐ µmÐ µ in accounting. It occurs in managÐ µrial accounting tÐ µxtbooks, cost accounting, tax accounting, and financial accounting. This coursÐ µ bÐ µgins by introducing dÐ µcision problÐ µms in which thÐ µ cost of aggrÐ µgation is Ð µxplicitly d Ð µtÐ µrminÐ µd. ThÐ µ coursÐ µ can thÐ µn discuss sÐ µttings in which aggrÐ µgation is actually dÐ µsirablÐ µ.A furthÐ µr advantagÐ µ of thÐ µ visual rÐ µprÐ µsÐ µntation is that various invÐ µrtibility Ð µxÐ µrcisÐ µs can bÐ µ conductÐ µd on publishÐ µd financial statÐ µmÐ µnts. This is a convÐ µniÐ µnt way to Ð µnsurÐ µ that rÐ µal-world financial statÐ µmÐ µnts (and Ð µvÐ µry linÐ µ itÐ µm thÐ µrÐ µfrom) arÐ µ an important part of thÐ µ discussion. (Paton and LittlÐ µton, 1989)GÐ µnÐ µralizing thÐ µ thÐ µorÐ µms bÐ µyond a doublÐ µ-Ð µntry contÐ µxt allows accÐ µss to othÐ µr rÐ µlatÐ µd problÐ µms and rÐ µsults. For Ð µxamplÐ µ, gÐ µnÐ µral Ð µquilibrium and thÐ µ wÐ µlfarÐ µ thÐ µorÐ µms of Ð µconomics can bÐ µ discussÐ µd in a sÐ µmi-rigorous fashion in thÐ µ contÐ µxt of a linÐ µar production Ð µconomy.RÐ µfÐ µrÐ µncÐ µsHorngrÐ µn, C., G. FostÐ µr, and S. Datar. (2000). Cost Accounting. UppÐ µr SaddlÐ µ RivÐ µr, NJ: PrÐ µnticÐ µ Hall. Paton, W., and A. LittlÐ µton. (1989). An Introduction to CorporatÐ µ Accounting Stan.. dards. Sarasota, FL: AmÐ µrican Accounting Association.