The Role of Accounting in Business: Challenges and Impact Analysis

PROJECT
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Contents
INTRODUCTION...........................................................................................................................3
Background Problem..............................................................................................................5
Background Search.................................................................................................................5
Marketing Standard or Market Entry strategy........................................................................7
Impact Analysis......................................................................................................................7
Constraints..............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
The term accounting is a systematic system of recording, interpreting, analysing and
demonstrating the financial data and information. Accounting is identified as a method of
monitoring and tracking all operations for completes them in a specific budget. In simple terms,
accounting is the art of recording, classifying, measuring and summarising the financial
transactions for make appropriate management decisions. Accounting in business performs a
crucial role for providing financial information to the stakeholders of organisation. It also
measure as well as summarise all activities of the organisation for communicate the financial
results to management and other interested parties (Brandau, Hoffjan and Wömpener, 2014).
Business faces dynamic conditions and due to these accounting departments faces problems to
calculate right cost of business. This report is written from perspective of Airbus SE which is
well-known for their aerospace corporation. Also, it is a European multinational organisation that
manufactures aeroplane, Boeing and other aerospace products. The reason to select the
accounting in business is to maximise the knowledge related with financial factors for
maximising organisational profits. Moreover, this report highlights on aim, objectives and step to
accomplish the objective. Problem related with business accounting factors and their impacts on
the business, workforce, society and environment will also focused in the report (Brief, 2014).
Further, the selected organisation performs their work at global level so with learn and induce of
appropriate accounting standards management improve their work monetary transactions to
maximise profits.
AIM
The aim of this report is “To generate accumulate reports related with monetary transactions for
improving the cash flow and financial position of business.”
OBJECTIVES
 To understand and analyse the cash as well as fund flow related with business.
 To improve knowledge related with financial factors and accounting decisions.
 To monitor and learn all those actions or methods which improve company profits.
 To maintain and record all business transactions in a systematic and organised manner.
Method to achieve objectives
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Setting objectives work as an important method for organisation and it helps management
for complete their task in an organised manner. Long-term and short term both objectives are
accomplished by deciding the skills sets, learning new methods, etc. and from perspective of
Airbus SE method to achieve objectives is mention as follow:
With providing direction- Goals and Objectives are achieved by the management through
formulate and decide accurate plans steps. To achieve objective related with cash and fund flow
accounting department learn and induce formula such as cash ratio, liquid asset ratio and many
more.
To keep track all activities- All specific goals related with same project and this define it is
important to keep motivate for completion of all project activities in an organised manner
(Carenys and Moya, 2016). To achieve objective of systematic transactions training and
development perform an important role for completion of task in decided time-period.
Induce of easy steps- Objectives are difficult to achieve and it define that the current methods to
manage work is complex to understand. Therefore, with divide large projects into small steps the
financial department of the Airbus SE is able to complete their work with more efficiency.
Moreover, current market scenario demonstrates that all phase of project are considered towards
progressive factors to manage work in proper manner.
TIME-SCALE
TASK Work Description Start and End Date
Training and Development Management is focused
towards completion of task in
an organised manner by
providing training to
individual.
02-07-2021 to 06-07-2021.
Delegation of objective The current market scenario,
work towards completion of
task with divides all
objectives.
07-07-2021 to 10-07-2021
Managing Resources To arrange all resources for
completion of work in a
01-07-2021 to 31-07-2021
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