Sunday, May 17, 2020

Herzberg and Maslows Motivational Theories Asssignment - Free Essay Example

Sample details Pages: 8 Words: 2493 Downloads: 1 Date added: 2017/06/26 Category Psychology Essay Type Compare and contrast essay Did you like this example? TASK 1 The essay discusses about two motivational theories one is Herzberg and another is Maslow. Herzberg theory is called two factors theory and Maslowà ¢Ã¢â€š ¬Ã¢â€ž ¢s theory is called Maslowà ¢Ã¢â€š ¬Ã¢â€ž ¢s needs (Mullins, 2010). The essay is also discusses about how the supermarket manager motivate his staff by using these two motivation theories. Herzberg two factor of motivation theory was established in 1959 by Frederick Herzberg one is hygiene factors such as; salary, job security, working conditions, level and quality of supervision, company policy and administration and interpersonal relation. Another is motivators it can be; sense of achievement, recognition, responsibility, nature of the work and personal growth and advancement. Hygiene factor demotivate an employee if no present. Dissatisfaction could be barred by improvements by hygiene factors but these improvements cannot provide motivation alone. On the other hand Herzberg claimed that to motivate an employee there were certain factors that a business could present directly that makes him or her feel satisfied in the workplace is called motivators. In job sector motivators are more anxious. For instance how interesting the work is and how much opportunity it provides for extra responsibility, recognition and promotion. On the other hand hygiene factors are setting the job. For example a worker will only improve at work if a business give him a reasonable level of pay and safe working conditions but these factors will not motivate him at his job once he is there needs (Mullins, 2010). Herzberg believed that there are some certain systems through the actual job that can motivate business employees by accepting an independent tactic to management and by improving the nature and content. Thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s are; job enlargement means workers being given various tasks to perform which make the work more interesting. On the other hand job enrichment that involve s worker being given a wider range of more multifaceted, interesting and challenging tasks surrounding a complete unit of work. This should give a greater sense of achievement. Finally empowerment means giving rights to the workers to make their own decisions over areas of their working life. The manager of a supermarket can motivate his employees by giving attention to hygiene factors and motivators. For example; pay might be one source of happiness but if employees are happy at their workplace then they can be motivated because staff can being get more important services in their fulfilling working environment. However empowerment can motivate staff in work place. For instance; manager can give rights to his worker for taking decision and also giving responsibility. Manager can holds forums every year in which staff can be part of the discussions on pay rises. This shows respect of the work supermarket manager do and rewards them. Staff can even influence what food goes onto its r estaurant menus. Employees thus become motivated to make choices that will increase their use of the restaurantà ¢Ã¢â€š ¬Ã¢â€ž ¢s needs (Mullins, 2010). Motivation is the procedure to fulfil individual needs and indicates to engage in certain specified behaviours. The characteristics of motivation is it can be an individual fact or multifaceted. However sometimes it is claimed, normally, as international. Moreover motivational theories are forecast behaviour. To motivate people at first need to know what motivates them it can be economic rewards such as pay, pension rights, bonuses etc. On the other hand it can social relationships such as friendships, group working, and status and so on. Maslowà ¢Ã¢â€š ¬Ã¢â€ž ¢s motivation theory motivated human being by unsatisfied needs. It happens when the lower needs are satisfied before the higher needs. According to Maslow there are some basic needs which human being must need to achieved otherwise they cannot motivated. These needs are called à ¢Ã¢â€š ¬Ã‹Å"deficiency needsà ¢Ã¢â€š ¬Ã¢â€ž ¢ by Maslow (Steers and Porter, 1991). Those needs are maintain human life are called physiological needs. These needs are; water, food, sleep, air. If a person is not fulfil his physiological needs he or she cannot be motivated. On the other hand a person can fall into serious health condition. When a person satisfied with physiological needs then he or she goes for safety and security needs. These needs help people from any emotional and physical harm. These needs are; job security, medical insurance, financial reserves, health and safety etc (Steers and Porter, 1991). The supermarket manager should give his staff according to their preferable places. He also need to provide his worker regular monthly pay and provides some kinds of facilities like personal locker or restaurant. The manager have to provide the security of formal contracts of employment for example sickness and pension. He also need to confirm about the healt h and safety in his work place. Then when a person fulfil his or her lower two basic needs then he or she can move into first level pf higher need which is called social needs. These needs are also help a person to communicate with others. Some example of social needs are; love, friendship, belonging to a group etc (Mullins, 2010). The supermarket manager have to encourage his staff about team and group working. It helps his worker to work as a team and it is also helpful for his supermarket needs. However esteem needs are two types like internal motivators and external motivators. Accomplishment, self-esteem and self-respect are called internal motivating needs. On the other hand reputation and recognition are called external esteem needs (Mullins, 2010). The manager have to value emphasise self-respect and also he need to respect his workers. However the manager have to appreciate his staff for hard work. Sometime he need to give them feedback and give judgement to acknowledge individuals influence and importance and celebrate achievement. He need to offer his staff for Personal Development Plans to identify skills and talents. The manager give opportunity for promotion and career progression programme. Finally self-actualization is the higher level of needs of Maslowà ¢Ã¢â€š ¬Ã¢â€ž ¢s theory. When a person fulfil his four basic needs then he or she reach for these needs. These needs are never fully satisfied there are always some new opportunities to grow for these needs. Self-actualization person have a habit of like wisdom, truth, justice and meaning etc (Mullins, 2010).It is about how people think about them self. The manager need to measure his staff success and also their challenge at work. When the manager can find about his staff reached he can give them awards by doing this he can motivate his staffà ¢Ã¢â€š ¬Ã¢â€ž ¢s needs. These two motivational theories are very helpful for manager to motivate his staffs. These two theories help his worker to work in his company as a team and also help to run his supermarket properly. However these theories are must require for any other organisation. TASK 2 In this task the essay discusses Belbin team roles and Tuckman theories. This essay also discusses how manager can apply Belbin team roles to motivate his workers. However the task also discusses about Tuckman theories and how manager can apply this theories in his work place. Black (2009) clams about Belbinà ¢Ã¢â€š ¬Ã¢â€ž ¢s team role means a systematic way to behave, contribute and interrelate with others in a specific way. Plants created ideas or new proposals. It also solve difficult problems in a work place. The monitor evaluator are analysing problems, evaluating ideas and always make the right decisions. However co-ordinator clarify goals, promote decisions and involve others in appropriate ways. Then implementers they are disciplined, systematic and love structure. Moreover completer finishers are perfectionists who ensure that every details is correct. Then resources investigator they are good at exploring and reporting back on ideas, communicative and explore opportunities outside the group. On the other hand shapers are generate action and make things happen. But team worker are diplomatic, popular and avert friction. Furthermore specialist they are professionally dedicated, single minded and are prepared to build up their knowledge (Black, 2009). According to Belbin (1993) and Black (2009) shapers are shapers are generate action and make things happen. The manger always need to take challenge to improve his team. He has to be self-motivated and demonstrative person. He enjoy while motivating his workers and finding the best way for solving problems. The manager shakes things up to make sure that all possibilities are considered and that the team does not become complacent. He need to often see barriers as exciting challenges and he manage his worker who faces problems. There are som e weaknesses that may be argumentative, and that he may upset peoples feelings managers have to look at this problem. Then completer finishers are perfectionists who ensure that every details is correct (Black, 2009). The manager should be a complete finisher. He can complete his project at any critical condition. The manager make sure that there have been no errors or lapses and he give attention to the each and every single task. He will be all time worried with deadlines and all time push his worker to make sure the job is completed on time. He described as perfectionists who is respectively, conscientious, and anxious. However team worker are diplomatic, popular and stop friction (Belbin, 1993). The supermarket manager give support and make sure that people within the team are working together effectively. He also has to fill the role of speaker within the team. He has to be very capable in his own right, but sometimes he needs to give priority to his team unity and help his worker who is getting along. The weaknesses of teamwork may be a tendency to be ensure, and to maintain uncommitted positions during discussions and decision-making. The supermarket manager need to focus on that otherwise his team cannot perform well and his supermarket cannot earn profits. Moreover plants created ideas or new proposals. It also solve difficult problems in a work place (Belbin, 1993). The manager should be a creative innovator and he needs to come up with new ideas and tactics. He has to succeed on compliment but criticism is especially hard for them to deal with. He always introverted and prefer to work apart from the team because his ideas are so novel, but he can be impractical at times. Belbin (1993) claims implementerà ¢Ã¢â€š ¬Ã¢â€ž ¢s means who are disciplined, systematic and love structure. The manager have to trying all time to get his task done properly on time. He has to support his teams ideas and concepts into practical actions and plans. The manager has to be typically conservative and disciplined. He needs to work systematically and efficiently and are very well organized. On the downside, Implementers may be inflexible and can be somewhat resistant to change so manager have to focus on this and need to avoid this weaknesses. Finally coordinators in this role the manager can take on traditional team-leader roles and have also been discussed to as the chairmen (Black, 2009). He or she then can guide his team to what they can perceive are the main objectives of the team for its benefits. Co-ordinators are always excellent listeners and they are naturally able to recognize the values that their own team members can bring on board to the sector. The role requires her/him calm and good-natured and delegate tasks very effectively to suitable members. Their potential weaknesses can be that the giveaway too much personal responsibility, and can be seen as manipulative (Black, 1993).The supermarket manager need to guide his team to wh at they can perceive are the main objectives of the team for its benefits. He should be a good listener and he should able to recognize the values that his team members can bring on board to the sector. The role requires of the manager should be calm and good-natured. However he need to delegate his tasks very effectively to suitable members. Dr Bruce Tuckman published his Forming, Storming, Norming, Performing model, this was in 1965. In terms of team development and behaviour, The Forming, Storming, Norming, Performing model provides a helpful explanation into these sectors. As a team develops in maturity and ability, relationships begin to establish, and also the leadership changes due to the leader, this is suggested by Tuckmanà ¢Ã¢â€š ¬Ã¢â€ž ¢s model. Opening with a directing style, then moving through coaching, after that participating, then finishing delegating and almost detached. At this point a new leader can be appointed by the team who provides success. The previous leader can now move on to develop another team (Tuckman and Jensen 1977). Tuckman and Jensen {1977) claims according to Tuckman theory that forming help to create a team it helps to accept personà ¢Ã¢â€š ¬Ã¢â€ž ¢s attitude that they want from others and avoid conflict. This stage is very important because team member can know each other, make new friends, sharing personal information etc. The manager of the supermarket can give direction and guidance to his staff. Manager have to prepare answer lots of questions about the teams purpose, objectives and external relationships. Then storming help to grow the team. To perform well as a team the members of the team need to tolerate each other and also need to keep patience. When they keep doing these things they can perform well. The team needs to be focused on its goals to avoid becoming distracted by relationships and emotional issues. Compromises may be required to enable progress. However norming is the process for team to set up their goal and ambition. All team members have only one goal and same ambition. Sometimes they give up or unwilling to share ideas because of their different goals and ambitions. But they have to avoid it otherwise they cannot work as a team. The manager need to set up goals and ambition for his staff. Finally performing stage it helps teams to do their job properly without any problem. In this stage members are motivated and acknowledgeable. They can make their own decision and handle their problems without supervision. At this phase all supervisors are participative. Most decisions which are necessary will made by the team. Sometimes the team can resort back to earlier stages in certain circumstances, this can be true even for the highest performing teams. The long standing teams are the ones that go through these steps and can react to changing circumstances. For example, a change in leadership may cause the team to go to the à ¢Ã¢â€š ¬Ã‹Å"stormingà ¢Ã¢â€š ¬Ã¢â€ž ¢ stage, t his is mainly due to people challenging the existing norms and team dynamics (Tuckman and Jensen 1977). Belbin team roles and Tuckman theories are very helpful for manager to motivate his worker. These roles help his staff to work as a team and perform well. By applying these roles company can also perform well and get profits. REFERENCES: Belbin, R. M. 1993.Team roles at work. Oxford: Butterworth-Heinemann. Black, A. (2009).The Belbin Guide to Succeeding at Work. London: AC Black. Fall, Kevin A., and Tamara J. Wejnert. (2005) Co-leader stages of development: An application of Tuckman and Jensen (1977).The Journal for Specialists in Group Work30.4, pp. 309-327. Mullins, L. J. (2010).Management and organisational behaviour. 9th ed. Harlow: Financial Times Prentice Hall. Steers, R. M. and Porter, L. W. (1991). Motivation and Work Behaviour, Fifth Edition, McGraw-Hill. Don’t waste time! Our writers will create an original "Herzberg and Maslows Motivational Theories Asssignment" essay for you Create order

Wednesday, May 6, 2020

Should Marijuana Be Legal - 1060 Words

Medical Marijuana Marijuana is the most commonly used illicit drug in the United Sstates (Wagner).. Marijuana is commonly used becauseThis it is because marijuana is easy to get and doesn’t have the visibly dangerous effects that other drugs like cocaine and heroine have. However,But does that mean marijuana is harmless to the human body? There are some people and studies that believe it is harmlessso. Sanjay Gupta, MD, Chief Medical Correspondent for CNN, wrote the following: â€Å"Frequent marijuana use can seriously affect your short-term memory. It can impair your cognitive ability and lead to long-lasting depression or anxiety† (â€Å"Should†). Short-term memory, impaired cognitive ability, and mental illnesses like depression and anxiety are all tied to prolonged use of marijuana. Along with the neurological effects marijuana has on the brain, it is also physically dangerous for theyour body as well. â€Å"And smokingSmoking anything, whether it s tobacco or marijuana, can seriously damage your lung tissue†¦Ã¢â‚¬  (â€Å"Should†). Despite whatever ingredients are in marijuana, smoking pot is harmful to yo the respiratory system, specifically the lungsur lungs. However, all of these negative aspects of making medical marijuana legal may overshadow many of the positive effects of the drug. Marijuana used for medical purposes has been proven to suppress pain caused by many illnesses. Despite the claims, marijuana has not been shown to have the same addicting and harmful properties as drugs likeShow MoreRelatedShould Marijuana Be Legal?1609 Words   |  7 PagesMs. Fingarson English 11 March 9th, 2017 Junior Research Paper: Marijuana Should Be Legal. According to world recognized American Scientist Carl Sagan â€Å"the illegality of cannabis is outrageous, an impediment to full utilization of a drug which helps produce the serenity and insights , sensitivity and fellowship so desperately needed in this increasingly mad and dangerous world†. These are just some of the benefits of Marijuana along with many others. All you have been taught about cannabis inRead MoreShould Marijuana Be Legal?986 Words   |  4 Pages smoking pot in California, is legal. On Tuesday, November 8, 2016, California became the fifth state to legalize the recreational use of pot. By a margin of about 56% to 44%, voters passed Proposition 64. With its passing, California is now among states like Colorado, Washington, Oregon and Alaska who have also legalized marijuana. â€Å"Marijuana could become quite the cash crop† said Richard McGowan, a professor at Boston College and expert in the field of marijuana legalization. While many peopleRead MoreShould Marijuana Be Legal?1230 Words   |  5 PagesCannabis Can The marijuana movement is more prevalent now than ever. Just recently, two other states have joined Colorado and Washington in the legalization of the recreational use of marijuana. On the other hand, the state of Florida did not pass the bill to approve medical marijuana. Although more and more states have begun to see the benefits in legalizing marijuana, many states maintain the view that smoking marijuana is criminal despite the many advantages it poses. Marijuana offers medical andRead MoreShould Marijuana Be Legal?997 Words   |  4 Pagesof the topics; write a thesis statement and complete the introduction 1. Marijuana should be legal, because it is harmless, and it is an effective medicine for many kinds of diseases. - Marijuana should be legal due to its variety of health benefits - Marijuana is an effective medicine for many kinds of diseases - Marijuana legalization would help boost the economy Thesis Statement: Why shouldn’t marijuana be legal due to its variety of health benefits, its effectiveness for combating manyRead MoreShould Marijuana Be Legal?864 Words   |  4 PagesCannabis, also known as marijuana among other names, is a preparation of the Cannabis plant intended for use as a psychoactive drug or medicine. Marijuana smoking remains the most prevalent form of illicit drug use in the United States and has even been legalized medicinally in twenty-four states. Four of these states, including Colorado and Washington, have legalized marijuana for recreational use. This means that it is treated like a controlled substance, like alcohol or tobacco, and anyone theRead MoreShould Marijuana Be Legal?1630 Words   |  7 PagesMarijuana has been a hot topic of conversation over the last few years, as some states in America have legalized it medically and recreationally. By discussing the legal aspect of marijuana, the economic benefits, medical usage and how marij uana affects the family, we can see the positive and negative impact that marijuana has on sociology. Except for a few select states, marijuana usage, sale and distribution of marijuana is in some manner illegal. As a result, there is immense legal considerationsRead MoreShould Marijuana Be Legal?1610 Words   |  7 PagesSince the very first day marijuana began dominating our country over 30 years ago, federal control of the drug has been the topic of an continuing arguments. Marijuana is a crushed up blend of dried out herbs, seeds and stems of the plant cannabis. Most people inhale it in the shape of cigarettes for pleasure and relief. Should marijuana be made legal? Advocates of the drug argue that there are multiple medical advantages and that tobacco and alcohol are far more harmful for us than the drug itselfRead MoreShould Marijuana Be Legal? Essay1261 Words   |  6 PagesMarijuana is safer than tobacco and alcohol, more beneficial and healthier too. Marijuana, unlike tobacco and alcohol, never causes serious illnesses like cancers of the lungs, throat, and mouth, cirrhos is, dementia, or anything else. In actuality, medical marijuana is used to treat cancer cells. â€Å"The earliest use of cannabis as a medicine is attributed to the legendary Chinese Emperor Shen Nung, who is thought to have lived around 2700 BC.. Cannabis sativa is thought to have been grown for at leastRead MoreShould Marijuana Be Legal? Essay965 Words   |  4 PagesShould Marijuana Be Legal? In order to start a discussion about whether marijuana should be legal, we must first begin with the history of marijuana. How long has marijuana been around? The earliest recorded use of marijuana is from the island of Taiwan off the coast of mainland china over 10,000 years ago in the Stone Age (Marijuana, 2014). They wove their clothes and made their shoes from hemp. The first paper was made from a combination of crushed hemp fibers and mulberry tree bark. ThisRead MoreShould Marijuana Be Legal?1269 Words   |  6 Pagesspecific effects of marijuana on pregnancy women because women who use marijuana also tend to smoke cigarettes and are more likely to use other drugs such as cocaine and alcohol. Thus, it is difficult to identify the precise effects of marijuana on pregnant women and fetus (Leemaqz, 2016.). Marijuana is the most commonly used illicit drug in the United State (Murray McKinney, 2014). According to the American College of Obstetricians and Gynecologists, 40- 60% of marijuana users continue to use

Management Accounting Accounting Academic in Emerging Economies

Question: Discuss the role of management accounting in an organisation (make comparisons to financial accounting). Discuss the classification of costs by function (production, non-production); by type (direct, indirect); by behaviour (fixed, variable, stepped fixed) and relevance. Provide examples and diagrams where necessary. Discuss the FIFO (First In First Out) and LIFO (Last In First Out) methods of inventory valuation making comparisons between them. Discuss the concept responsibility accounting. Your discussion must include responsibility centres cost, revenue, profit and investment centres. Answer: Introduction Management Accounting refers to the process of identifying, analyzing, measuring as well as communicating information in concerned with organizations goal. The main objective of the management accounting to provide support to competitive decision making for the management by collection of information and processing information that would help in management planning, control and also to evaluate business process. Role of management Accounting in Service Organization In the service organization, management accounting is broadly described as tools involving the use of quantitative data in the control of organization. In addition, it is also provided that it has been observed that larger the organization is the greater will be the need for managements/ management accounting for gathering information in order to identify and achieve organizations goal and objective (Accountingtools,2015) Basis of Comparison Financial Accounting Management Accounting Meaning It refers to the accounting system which mainly focuses on the preparation of financial statement. Financial position of the organization with an objective to provide the information regarding the financial position to the interested parties It refers to the accounting system which provides important information to the mangers / top management so as to make plans, strategies, policies for running the organization/ business effectively (Accounting Tools,2015) Mandatory Yes, it is mandatory s per law regulation It is not mandatory yet advisable to be maintained by the organization Purpose/ Objective The main objective is to provide required /true fair information to the outsiders about the financial position of the organization (Accounting Tools,2015) To assist management in planning as well as decision making. Format Specified Format There is no specified format Time Period Financial Statements are prepared at the need of the accounting period which is mainly one year Here, reports are prepared on the basis of requirement and need of the organization. There is no specific time period (Accounting Tools,2015) Main Users Internal as well as External parties Only Internal management since the same is for internal use only. Reporting Financial Accounting summarizes reports regarding the financial position of the company Here, it provides complete and detailed reports regarding various reports There are many classifications of costs the same are not mutually exclusive: Classification as per function/ by function Production Cost- It involves all cost related to the production of goods or services it may be direct or indirect cost. It is mainly divided into direct and indirect production cost Direct cost such as direct material, direct labor, other expenses like job work charges in respect of particular product Some example of indirect cost are Supervisor salary, quality control testing, store expenses other labor related expenses Administrative e Cost- These cost refer to the cost incurred in relation to the general management of the business .they are usually indirect cost also called as administrative overhead. For example- rent expenses, depreciation charged on fixed assets, telephone stationery expenses etc. Selling Cost It refers to the cost incurred in connection to the achievement of target sale during the specified period for example- salary to be paid to the selling staff, commission, discount, royalty etc. Traceability i.e. classification of cost by Type it is provided that cost can be classified by traceability Direct cost- it refers to the cost which can be directly traced to a department, product, service such as Labor and supplies. Example- during production of concrete, cost of cement, sand wages are direct cost Indirect Cost- it means the cost which cannot be directly traced to a department, product and/or service for example- overhead cost, cost associated directly with heating and cooling or cost of insurance, depreciation, salary of supervisor incurred in a concrete plant Full cost it involves both direct and indirect cost. Behavior - it states that cost could be classified by behavior with regard to the volume of products and/or services. Fixed Cost- it refers to the cost which remains constant in relation to changes in volume for example- rent charges for manufacturing space will be considered as fixed cost or depreciation since this is considered as gradual charging to the expense of tangible assets for a period of time over the useful life of an asset. For instance Rent, depreciation calculation using straight line method. It has been provided that fixed cost per unit decreases with the increase in production (Accounting Tools, 2015). Variable Cost- it refers to the cost directly proportionate to the change in quantity/volume. For instance cost of supplies is directly proportional to the volume therefore the same is considered as a variable cost. It is provided that variable cost varies with the unit of production. As the number of unit increases, variable cost will also increase vice versa. Semi Variable Cost- this cost varies incrementally to the changes in volume for example- there is no requirement to hire new housekeeper if patient volume increases by 1%. It has properties of both fixed as well as variable cost because of presence of both variable fixed component (Accounting Tools, 2015) Cost classification as per Relevancy It is provided that cost can be classified by its relevancy Controllable Cost- refers to the cost under the managers influence for example labor Uncontrollable cost- it is not influenced by the management. For example utility cost True Cost- it refers to the hypothetical cost which is considered as most accurate representation of full cost that is easily determined by the managers/management. Differentiate Cost- it refers to the cost arises due to difference in the costs among two or more alternatives. Opportunity Cost- it refers to the potential revenues forgone by rejecting an alternative, for example - amount spent in purchase of fixed cost recovered as an interest income on leasing of machinery. Another example if a gardener decides to grow radish then his or her opportunity cost will be that alternative crop which might have been grown instead (Tomato, pumpkin etc.) as in both cases choice is required to be made. Sunken Cost- it refers to the cost already incurred and is consider that the same will not affect by and would not affect any future decision for instance- A person opens a new manufacturing factory with 1 million it is sunk cost. Another example can be advertisement expenses as expense paid for the same cannot be recovered once made. FIFO (First In First Out) and LIFO (Last In First Out) Above mentioned methods are costing method which is used to evaluate the value of cost of goods sold and also inventory at the end. FIFI means First in first out which clearly provides that goods initially entered in the inventory will be removed for the sale first on the contrary LIFO i.e. last in first out means that the good which is added last in the inventory will be removed first for the sale from the inventory (Accountingtools, 2015). Basis of Comparison FIFO LIFO Status of unsold inventory It comprises of the goods acquired most recently However, it comprises of good acquired earliest Laws or restrictions For Use of FIFO Method, there is no restriction of GAAP or IFRS. Both allow this method IFRS does not allow to use this LIFO Method by an entity Inflation Effect Due to increase in cost. Goods which were acquired become cheaper which consequently decrease the COGS and hence result in increase of profit. Income tax is higher Due to increase in cost, goods acquired recently become expensive thus increases the cost of goods sold which consequently reduce the profit. Income tax is smaller Deflation Effect In converse to above, accounting profit and therefore tax is lower. However value of inventory would be high In converse to above, accounting profit and therefore tax is higher. However value of inventory would be low. Book keeping There are lesser number of record since oldest tem are used to be sell first There is requirement to maintain number for records since old item remains an inventory for many years and new item are sold first Main Users Internal as well as External parties Only Internal management since the same is for internal use only. Deflation Effect In converse to above, accounting profit and therefore tax is lower. However value of inventory would be high In converse to above, accounting profit and therefore tax is higher. However value of inventory would be low. Responsibility Accounting- It refers to the system in which organization is divided into similar units and each of these units are assigned to particular responsibilities. Divided units may be in various forms like segments, branches, departments, etc. Each such department is consisting of various individual who would be responsible for particular functions to ensure that people in the department will achieve the goal. Various cancers are as follows Revenue Centre- It usually has full authority over sales and little control over costs. It provides that to evaluate the performance of revenue centre and to ignore other things. Even though it is advantage but it have some demerits also like their evaluation are based on the revenue only which clearly implies that they have no reason to control the cost.die to this, to will be required to hire other person. Cost Centers This centre basically focus on providing services as well producing of the goods to other parts of the company this is because they have no control over the revenue/ sale price and hence evaluation can be done on the basis of their total cost. It is advisable that while dealing with the cost centre one must carefully monitor the quality of goods because purchasing of inferior quality cost with an aim to reduce cot may lead to effect quality of goods. Profit Centers- it refers to the businesses within a larger business, like individual stores which make mall, where manager have right to enjoy full control over revenue as well as expenses. They also have authority to set their own prices. Classification of responsibility centre as a profit centre is considered as disadvantage. Even though it gets evaluated on the basis of revenue and expenses, attention has not been given to the use of assets. This fact provides thee manager an incentive to boost profit by the use of excessive assets. Investment Centers- this centre can be called as a luxury car for responsibility centre since they feature everything. It is provided that investment centres manager have right over and is held responsible for the expenses, revenue as well as investment in their centers Moreover, ROI is used to evaluate their performance. Conclusion On the basis of above discussion, it is advisable that every organization should adhere to the management Accounting so as to keep the records accurate as well help the managers for decision making on the basis of gathering of information. Moreover, in the responsibility accounting, Each department is consisting of various individual who would be responsible for particular functions helps to ensure that people in the department will achieve the goal. References Albu, N., Albu, C., Bunea, S. and Girbina, M. (2015). 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Cash Flow Forecasting as an Element of Integrated Reporting: An Empirical Study.Asian Social Science, 11(11). Myocyte enhanced factor 2C (MEF2C). (2014).Science-Business eXchange, 7(2). Swamidass, P., Baines, T. and Darlow, N. (2001). The role of manufacturing and marketing managers in strategy development.Int Jrnl of Op Prod Mnagemnt, 21(7), pp.933-948. Van der Stede, W. (2016). 2016 Editorial.Management Accounting Research, 30, p.1. Kaspina, R.G., and L.A. Molotov. 'Fuzzy Forecasting Of The ash Flow Statement Based On Accounting Data'.MJSS(2014): n. pag. Web. Readyratios.com,. 'Cash Flows From Operating Activities'. N.p., 2015. Web. 2 Oct. 2015. Small Business - Chron.com,. 'Items To Sell In A Convenience Store'. N.p., 2015. Web. 2 Oct. 2015.