Importance of Competent Leadership PDF

Added on - 22 Nov 2020

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TABLE OF CONTENTSQUESTION 1...................................................................................................................................11. Game changers of businesses and consequences of less hierarchical business models.....12. Importance of competent leadership..................................................................................13. Core leadership and additional new qualities.....................................................................14. Alterations in leadership roles and skills via automation and artificial intelligence..........15. Overlap between soft and employability skills..................................................................26. Critical Leadership skills....................................................................................................27. Role of trust........................................................................................................................28. Expectation of modern professional accountants...............................................................29. Identification of soft and critical leadership skill...............................................................2QUESTION 2...................................................................................................................................31. Measuring the variable cost................................................................................................32. Measuring the contribution margin per unit.......................................................................33.Profit equation in relation with terms of motor sold...........................................................34. Drafting a Cost volume profit graph..................................................................................45. Break even analysis............................................................................................................46. Analysing the current profit or loss....................................................................................57. Changing the suppliers.......................................................................................................58. Decision based on importing motors or buying in Australia..............................................5QUESTION 3...................................................................................................................................6A. Sales Budget......................................................................................................................6B. Purchase Budget................................................................................................................6QUESTION 4...................................................................................................................................71. GST analysis.......................................................................................................................72. General Journal Entry.........................................................................................................73. Balance sheet......................................................................................................................74. Modification of transactional entries..................................................................................8QUESTION 5...................................................................................................................................81. General Ledger Cash..........................................................................................................82. Bank Reconciliation Statement..........................................................................................8
REFERENCES................................................................................................................................9
QUESTION 11. Game changers of businesses and consequences of less hierarchical business modelsThe modern age is referred as game changer for business and leader perspective. Thecombination of rapid technological development, globalisation and emergence of knowledge anddata is altering each and everything. In the same series, different external factors viatechnological alteration for raising complexity in business and rush towards alterations inauditors. The report of audit could be great opportunity for various changes to break its mouldand for demonstrating audit value.The emergence of innovative business models and business entity are considered as lesshierarchical. Ideas and innovation could be emerged everywhere but concerned point is statedwith capability for encouraging development and for recognition of the best aspect.2. Importance of competent leadershipCompetent leadership is very important skill in digital age due to rapid evolution, risky,messy, unpredictable time as it provides in-surety about technological development. In thisenvironment, leaders which are outstanding are referred as very important currency.3. Core leadership and additional new qualitiesCore leadership qualities:Motivational skills, emotional intelligence and team buildingAdditional new qualities:domain expertise, authority, decisiveness, short term task focusIn the present scenario, leaders should be capable for understanding impact of technologywith aspect of business. Technical expertise is second requirement but prior it must be capablefor forecasting both potential negative impact of technology and opportunity as well.4. Alterations in leadership roles and skills via automation and artificial intelligenceThe major driving force is refereed as impact of artificial intelligence, automation andmachine learning in workplace partly as machines are taking over elements which are accordingto task with context of leadership. Automation provides wider implications for employees inleadership as it provides increment about guidance and reassurance for business leaders withcontext of workplace's future and their jobs. The organization with artificial intelligence holdsspecific record for raising exercises of the fastest capital.1
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