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Managerial Accounting Assignment | Decision Making

   

Added on  2020-05-16

42 Pages6926 Words109 Views
Business DevelopmentFinanceLeadership ManagementProfessional DevelopmentCalculus and AnalysisEnvironmental Science
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Running head: MANAGERIAL ACCOUNTINGManagerial AccountingName of the StudentName of the UniversityAuthors NoteCourse ID
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MANAGERIAL ACCOUNTING1Executive Summary: The value framework of the PWC provides the users with the internal and external ability ofdecision-making. This often requires clear, concise and detailed information to obtain thesustainable method of value creation and facilitating decision making relating to the currentperformance of the organization and its upcoming prospects. The present study is based onthe assessment of the nature and quality of information presented by Novozymes in thedirection of organizational health and performance in compliance with PWC framework. Tobetter understand the performance of Novozymes the annual report for the year 2016 isconsidered to assess the elements of framework to better measure the qualitative andquantitative aspects. The report will further assess the comprehensiveness of the informationpresented together with the accessibility of disclosure made in the report. Performance isdiscussed in the areas of Strategic elementsa.Strategy b.Governance c.Business risksd.Business modelsPerformance elementsa.Economical b.Segmental Alignment with the PWC framework of integrated reportingThe analysis brings into line the PWC integration framework of reporting from the financial report of 2016 that are in compliance with the organizational health and performance.
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MANAGERIAL ACCOUNTING2Table of ContentsExecutive Summary:..................................................................................................................1Introduction:...............................................................................................................................4Value Framework Elements: Strategy and Objectives...............................................................4Value Framework Element: Business Model:............................................................................6Value Framework Element Governance:...................................................................................7Value Framework Element: Strategy: Risk Management:.........................................................9Value Framework Element: Remuneration:.............................................................................10Value Framework Element: Financial Assets:.........................................................................12Value framework Element: Physical Assets............................................................................14Value framework element: Customers:....................................................................................16Value framework element: People and Culture.......................................................................17Value Framework Element: Innovation...................................................................................19Value framework element: Brand and Intellectual Assets.......................................................20Value framework element: Process and Supply Chain............................................................22Value framework element: Operational Performance..............................................................24Value framework element: Economic Performance................................................................26Value framework element: Social............................................................................................30Value framework Element: Environmental:............................................................................32Value Framework Element: Segmental...................................................................................34Reporting of materials:.............................................................................................................35
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MANAGERIAL ACCOUNTING3Conclusion:..............................................................................................................................36Reference List:.........................................................................................................................37
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MANAGERIAL ACCOUNTING4Introduction: The current report is based on the analysis and assessment into the quality and thenature of the Novozymes performance reporting of the firm health in respect of the PWCframework. Novozymes is regarded as one of the international market leader in the biologicalsolutions that produces a large variety of industrial enzymes and microorganisms. Thecompany offers solution to assist the customers in generating more from less, adapting to themarket changes, enabling the product known to customers and lowering down the costs. Thereport will offer a in depth understanding of the performance information which is the vitalelement and factor in decision making structure of the company with correct responsibility. Value Framework Elements: Strategy and Objectives Report Extract: Page 33:
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MANAGERIAL ACCOUNTING5Report Critique: Reporting characteristics that stimulates Strategic and Objective framework element: a.There is a clear statement relating to strategic objectives and goals b.Short, medium and long term strategic business targetsExtensiveness and Accessibility: The strategic objective of Novozymes is to render improved performance every yearas the company has placed strategic partnerships and networks with the customers,governments, suppliers and others that surround the company to make sustainable difference(Lai et al., 2016). The company has indulged in lead innovation that are tailored to meet themarket needs. The corporate strategy of the company can be obtained easily andcomprehensively. The company has undertaken both the qualitative and quantitative aspectsof communicating its strategy and objectives in its annual report of 2016. The organizationstrategy is initially communicated on page 33 which makes it prominent for the readers andsets down the tone of the overall report. Additionally detailed strategic and objective goalsare stated in the Chairman’s report at page 49 section of the report. The strategic objective ofNovozymes is linked with the Key Performance Indicators (KPI). Comprehensiveness: The Chairman’s strategic review is liked with the organizations growth, businessmodel, and innovation and customer-oriented through reporting of; a.Lead innovation b.Emphasis on opportunities c.Partnerships and networks with customers d.Improving the capabilities and motivation of organizational growth
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MANAGERIAL ACCOUNTING6Beside placing emphasis on the performance of the preceding years, the chairman ofNovozymes has provided a qualitative outlook relating to the strategic partnerships andnetworking creation (Linder & Williander, 2017). The Chairman has additionally emphasisedon the sustainable environmental development in respect of the global management standard. Conclusion and Strength: The annual report of Novozymes for 2016 has provided explanation relating to thestrategic organization goals and objectives. The report is appropriately formatted andstraightforwardly understandable. Both the qualitative and quantitative aspects of the report isrelated with the business goals with “good” overall presentation of the information. Value Framework Element: Business Model: Report Extract: Page 29Reporting Critique: Reporting characteristics that drive the Business Model framework element:
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MANAGERIAL ACCOUNTING7a.Clear and vivid explanation of the business model that builds wide range of industrialenzymes and microorganisms. Extensiveness and Accessibility: The business model of the company is communicated with the help of full one pagediagram inside the heads of Business Model in the annual report of 2016 (Bocken et al.,2014). The information relating to the business model of Novozymes can be obtained throughtable of contents under the “Our Business”. The model is lucidly formatted with sufficientexplanation of customers and partners, distribution, technical services, innovation, productionand suppliers. Comprehensiveness: The figure above explains the circular flow of business model where the companyengages with its customers and partners for promoting sustainable and efficient productionprocess (DaSilva & Trkman, 2014). The production and innovation strategy helps in buildinglong term business value by efficiently linking the organizations strategy with business goals.Conclusion and strength: The business model of Novozyme is clearly defined in one page which makes it easyand comprehensive for the readers to understand. The elements surrounding business modelis evidently explained and the overall quality of the presentation is “Good”.Value Framework Element Governance:Report Extract: Page 49Report Critique:The governance structure of Novozyme states that the organization is remaincommitted towards the transparency in reporting. The governance structure of Novozyme lay
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