Accounting Theory and Contemporary Issues TABLE OF CONTENTS
Added on 2021-01-01
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Accounting Theory andContemporary Issues
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Issue of the concern............................................................................................................12. How issue has impacted work of accountants in recent decades.......................................33. Opportunities from proper handling of the issue................................................................44. Threats from neglecting the issue and types of business that will be most ‘at risk’..........55. Recommendations on how the mitigation strategies for enabling employee work lifebalance should be communicated to its clients.......................................................................76. Arguments for and against of presence of specialist team for dealing with work life balance................................................................................................................................................87. Recommendation to staff for training on technical aspect for enabling work life balance9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONContemporary issues in accounting and in organisation are major factors which areneeded to be taken into consideration by the firm. Present report deals with the issue of enablingwork-life balance of workers at workplace from different perspectives. The reason of issue inorganisations is presented along with employee burned-out factors leading to contribute towardsimproper work-life balance. On the other hand, impact of selected issue on work of accountantsis discussed. Furthermore, opportunities that may arise by effectively handling the issues areprovided by which companies may resolve this issue and then imparting several benefits such ashigh productivity, lower turnover rate, low absenteeism among employees and greater relianceon personal and professional life in a better way. Threats from neglecting issue are enumeratedand recommendations for communicating to clients are presented with mitigation strategies.Arguments for and against issue is taken for resolving it with the help of specialised team.Lastly, recommendations are given for training staff on technical aspect of issue along withdealing nicely towards client’s queries.1. Issue of the concernThe business requires focusing not only on its growth along with enabling work-lifebalance of employees. It is essentially needed as employees are an integral part of companycontributing towards organisation for earning higher profits. The issue of work-life balance istaken as it is one of the emerging factors hindering organisational culture if handled not properly.It means that workers are dominating the workforce and employers are trying hard to appeal tomillennial employees. Maintaining healthy work-life balance minimises the level of stress andpreventing burnout usually involves in workplace (Sheppard. 2016). There are variousconsequences if improper work-life balance exists such as hypertension, chronic aches, heartrelated problems, etc. These can impact the normal life and employees are prone to suchdiseases.Too much stress is hazardous to workers and can affect them leading to workplaceburnout. It is being analysed that people who work for more number of overtime hours aresignificantly prone to high risk of burnout (Garton. 2017). This has several other causes whichmay affect the performance of employees up to a high extent. Mood swings, increasingirritability and fatigue are some of the causes affecting health of employees and prove to behazardous to organisations as well. In accordance with Harvard Business review, psychological1
and physical issues of burned-out workers cost around $125 to $190 billion every year inhealthcare expenses in the US. These are much of expenses but real costs are far greater like lowproductivity, increased turnover with losing capable workers. On the other hand, executives are required to manage heavy workloads, job insecurityamong employees and irritating routines of work so that organisation may be able to maintainwork-life balance in an appropriate way. This is essentially required for enabling confidenceamong workers and will reduce absenteeism among them leading to higher productivity. Inrelation to this, employee burned-out problems can be discussed which hinder capable talents towork effectively (Wilkinson, Tomlinson and Gardiner, 2018). First of all, excessivecollaboration is common factor having too many decisions making and decision-maker nodes.Endless meetings and conferences require every stakeholder to be heard in an effective mannerfor enriching business relations. Senior executives receive 200+ mails on an average per day.This leads to burnout as employees are driven by many priorities and to handle digital tools.Such interruptions have bad repercussions on employees as they are distracted up to a certainextent and overload of work takes place which is a serious issue for the business.Moreover, it is required that organisational culture should be managed in a better way bywhich decision-making nodes could be handled with much ease. Thus, excessive collaboration isthe major issue for improper work-life balance in business. Another major issue for burnout isweak-time management policies leading to enhancement in stress, a negative factor hinderingpersonal and organisation's growth. The increasing demand for collaboration, structureddisciplines, policies and dynamic rules have major impact on employees as they are left with toomuch of work affecting their personal time and maximising irritability phenomenon in them.Employees are left with tasks to be completed and it is their outlook how they manageindividual’s work according to capabilities. It is a challenging task for them as similar policiesare rigid in nature and they have no influence to take into account. Moreover, they have nopower to call off any meeting scheduled which they think of necessary in certain aspect. Thisleads to creation of stress among them (Abdullah, and et.al, 2018). Handling the problem is one of the main elements to be undertaken by employees so thattasks can be managed in a proper way. Moreover, to measure time spent by worker and effecton burnout and productivity of organisation. This is essentially required because weak-timemanagement policies lead to stress among individuals affecting their performance. In this2
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