Research Paper: Managerial Accounting Systems

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Managerial Accounting

Operational issues. As Treasurer, the operational issues are the highest priority. My role is not to lead fundraising but I can assist the charity's cash position by making better use of existing resources. At present, there is weak control over donations coming in and out. This can lead to leakages and the misreporting of inventories and donations. Such misreporting can lead to taxation problems. A better asset tracking system will give me a better understanding of the organization's actual financial standing.

Technical resources. This is not a high priority at present. Although better technical resources would assist in the maintenance of financial records and the production of financial statements, these tasks can be performed without further technology investment. The charity is facing a cash crunch, so issues that can improve the cash situation will take priority for the time being. However, improving the organization's capabilities with regards to accounting human resources would be beneficial - at present there is little organizational depth at this key function.

Segregation of duties. This is a very high priority. At present, we have volunteers not working to their potential. Some have little direction and as a consequence do little. This has a negative impact on the organization when it results in Terri and Rhonda being pulled away from their managerial and bookkeeping duties. Fines for delayed taxes in the past can be attributed to this problem, with Terri being forced into micromanaging the duties of volunteers and Rhonda being pulled into the kitchen. If we can utilize our existing human resources better, we can improve the quality of our financial management, allowing us to stretch our dollars further.

Changing demand. Changing demand is a major problem for the charity, but it is also a longer-term problem. The charity… [END OF PREVIEW]

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