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(PDF) Employability Skills Required of Accountants

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Added on  2021-04-21

(PDF) Employability Skills Required of Accountants

   Added on 2021-04-21

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Running head: Professional Skills for Accountants Professional Skills forAccountants
(PDF) Employability Skills Required of Accountants_1
Professional Skills for Accountants 1ContentsIntroduction.................................................................................................................................................2Answer to Q1 (a).........................................................................................................................................3Answer to Q1 (b).........................................................................................................................................5Answer to Q2(a)..........................................................................................................................................5Answer to Q2 (b).........................................................................................................................................6Answer to Q3(c)..........................................................................................................................................7Answer to Q3 (d).........................................................................................................................................8Conclusion...................................................................................................................................................9References.................................................................................................................................................10
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Professional Skills for Accountants 2Introduction Administrative theory of Management guides the managers regarding their interaction with theemployees. Henry Fayol who was a French mining engineer, managing director and anindustrialist evolved the 14 Principles of Management to guide those managers who were notpracticing the scientific approach of management in his time. He is known for his contributionfor his management science in his work “General and Industrial Management in 1929 A.D.(Godwin et al., 2017). So, in this assignment, the basic elements of management according to the Administrative theoryof Management will be discussed. Also, the various aspects of training and developmentprograms for the improvement of skills of the workforce will be analyzed and stated (Gambo,2015). Also, different aspects of ethics will be compared and contrasted with law. The ethical issuesfaced by the managers in the organizations will be analyzed and resolved with the help ofexamples.
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Professional Skills for Accountants 3Answer to Q1 (a). The administrative theory of the 14 Principles of Management was developed by Henri Fayol in1911. He was the founder of theories of modern scientific management known as the principlesof management (Peaucelle, 2015) . As per the Administrative Theory of Management, the fivebasic elements of management are as follows:1.Planning: It refers to predicting the future and developing action plans accordingly2. Organizing: It is the development of the structure where human and non-human resourcescan work together. 3.Commanding: It is the procedure of providing directions by the seniors to their juniors in anorganization.4.Coordinating: It is the procedure of assimilating the efforts of various departments for thefulfillment of the goals of the organization.5.Controlling: It refers to comparing the real performance with the desired performance andevaluating if there is a need of improvement and implementing it to improve the performance(Mbalamula, Suru and Seni, 2017). The 14 principles of management given by Henry Fayol are focused on five principle ofmanagement. So, the guidelines to effective management are as follows:
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