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Professional Skills for Accountants - PDF

   

Added on  2020-10-05

11 Pages2628 Words195 Views
Professional skills for accountants
Professional Skills for Accountants - PDF_1
Table of ContentsINTRODUCTION...........................................................................................................................1Question 1........................................................................................................................................1a.) Evaluation of Henri Fayol's 14 principles of management. ..................................................1b.) Assessment of how this theory help improve managerial skills............................................4QUESTION 2...................................................................................................................................5a.) Assessment of key processes involved in systematic training and development of blue-chipfinance company in London which is currently under performing.............................................5b.) Analysis of training methods used to overcome the problem of blue chip company............6QUESTION 3...................................................................................................................................6a.) Compare and contrast ethics with laws..................................................................................6b.) Assessment of ethical problems faced by managers in the business organization................7CONCLUSION................................................................................................................................7REFERENCE...................................................................................................................................9
Professional Skills for Accountants - PDF_2
INTRODUCTIONThis study will highlight critical evaluation of Henri Fayol's 14 principles ofmanagement and how they assess in improving managerial skills which helps in attainingorganizational goals and objective. This study also highlights systematic training and development programmes which are tobe conducted by management of the blue chip company to improve skills and knowledge ofemployees. It also analysis the methods of training which overcome the problem of thecompany.Furthermore, this study also highlights business ethics and the problem related with thisand how to overcome it.Question 1a.) Evaluation of Henri Fayol's 14 principles of management. These are the principles laid down by Henri Fayol which serve as a guideline formanagement to make effective decisions and take necessary action effectively and efficiently toachieve goals and objective of the organization(Anderson-Gough, 2018).
Professional Skills for Accountants - PDF_3
1.DIVISION OF WORK : This principle of management states that dividing workequally among its subordinates or employees helps in improve quality of production andalso leads to increase operational efficiency, productivity and performance. Division ofwork helps in specialization and accuracy of work with desired skills and knowledgewhich leads to improve operational efficiency.2.AUTHORITY AND RESPONSIBILITY : Authority and responsibility are the twosides of the same coin. Management of the organization has an authority to delegatework to the employees or its subordinates of the organization so that goals of theorganization can be achieved effectively. Responsibility comes along with authority.When work is delegated to the employee he is accountable for the work performed bythem. 3.DISCIPLINE :The third principle stated by Henri Fayol is that employees of theorganization should work in discipline with utmost obedience and respect at workplace.Illustration 1: 14 Principles of Management (Fayol)SOURCE: 14 Principles of Management (Fayol) , 2019
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