Use of business decision making assignment research methods to make informed business finance decisions

Question

Task: How can business managers utilize business decision making assignment research techniques for making more improved business accounting decisions

Answer

Introduction
This business decision making assignment analyses how Managerial accounting is a highly effective tool that enables large businesses to make quick decisions in the fast-paced business environment. These decisions usually consist of sales tactics, Cash flow management, costing and transfer pricing or budgeting. It also communicates the financial data that are specifically connected with the managerial decisions of the organisation. It is a form of strategic accounting method that combines the information of the business, organisational strategy and events that helps in delivering the key recommendations based on the analysis provided by the trained accountants. The phenomena of accounting are continuously changing where both the financial and Managerial accounting activities and technologies including the important concepts are continuously redefining themselves and evolving. A management accountant is responsible for conducting a cost analysis that provides suggestions for future activities of the business enterprise. The important business-related decisions are formulated by managers with the help of their experience and expertise. The business decision making assignmentresearch will highlight the role of managerial accounting in the internal recent making process of the business enterprises such as costing, budgeting and transfer pricing. It will also analyse the current trends in the managerial accounting process that are being followed by many businesses around the world. The impact of managerial accounting on the decision making capability of business enterprises will be assessed and the future prospect of the business decision making assignmentresearch will also be presented in the research. The strategic use of a managerial accountant to use the available information from the market to analyse the price point and other important metrics and its impact on the internal decision-making process of the business will be assessed in the research.

business decision making assignment Current trends
Managerial accounting as a tool for business decision making
Managerial accounting is a field of accounting management that provides accurate data about financial and economic information to the managers of a business enterprise for making important decisions. It has been highlighted by Weygandt et al. (2018), that managerial accountants are primarily engaged in cost accounting, reporting and collecting of costs to management to name a few. The role of managerial accountants has changed significantly in recent times due to the boom of the manufacturing environment and the use of automated methods to determine the costs required in a business process. The current scenario for managerial accountants has changed significantly as they work alongside the team members of engineering marketing and production for making critical strategic decisions. The primary job is decision-making for the managerial accountants in a complex business scenario. The principles of managerial accounting comply with the accounting principles that are accepted by the professional accounting standards.

Organisational change and managerial accounting as an alternative perspective
Critical perspectives have developed in recent times that provide alternatives to rational perspectives of the explanation of organisational change and accounting for an economic and social context. The alternative perspective of managerial accounting has led to the development of different theories by Business enterprises around the world. According to the views of Alsharari (2019), different business enterprises are operating on a daily basis and are setting goals and objectives that are creating an impact on society. The managers and heads of the organisations require relevant information to manage coordination among different organisational levels specifically for complex business enterprises. In these scenarios managerial accounting becomes an important aspect of taking important decisions in terms of budgeting, costing and transfer pricing (Alsharari, 2019). However, despite the presence of different innovative techniques the business enterprises have been using conventional accounting systems rather than adopting the revolutionary accounting systems that have the potential to improvise the decision making capability probability of the company.

Impact of managerial accounting and its implementation into the organisational culture business decision making assignment for Managerial accounting is significantly becoming an important aspect of the critical reason making process for all the business organisations around the world. According to the available information from “the chartered institute of Management accountants”, Management accounting is an important source of communication analysis and use of relevant decision making financial and non-financial information methods that helps in creating and preserving value for companies. It has been highlighted by Ameen et al. (2018), that the performance management aspect of the Management accountants is associated with the operations of the organisation that are sustainable, profitable and within the set standards. However, the business operations in terms of management and financial accounting are conflicting as it illustrates two completely different techniques. The presence of differences between financial and management accounts has not stopped the business enterprises from taking important decisions based on management accounting. The incorporation of Management accounting in business enterprises is due to the lack of consistency in the application of Management accounting processes within the business operations such as activity-based costing (ABC), Grenzplankostenrechnung (GPK) and resources consumption accounting (RCA) to name a few. Investigation of the impact of financial accounting reports on managerial decision making for SMSE The dynamic existence of the modern-day corporate landscape has significantly brought changes in the current global world. The managers are facing challenges due to the inefficiencies in the management of poor decision-making capabilities of their organisations. It has been highlighted by Gardi et al. (2021), that in a corporate business environment, uncontrollable and controllable forces have the ability to create an impact on all the decisions even if they are completely different from each other. It is an eminent fact that the size of a company is directly proportional to the requirement of support and performance in terms of information required to manage the organisation. The business enterprises prepare different statements summarising the improvements of their company through the time which is reflected in the financial reports. The financial reports allow the managers to make choices and educate themselves with the information that can be used for the betterment of the company in the long run. Therefore, the managerial decision-making process is an eminent part of all the financial accounting reports that a business enterprise needs to prepare at the end of a fiscal year.

Internal control systems for the management of business enterprises
The current business environment focuses more on control as a function of management for determining the achievement of high-quality output. The generally accepted logic in the current corporate world is: no control, no implementation of the developed plan. According to the views of Akhmetshin et al. (2018), the problems in the internal control system of a business enterprise are considered a key that ensures the success of the company. The issues in the current financial statements of a business enterprise create a negative impact on the daily production objectives and relationship of a business enterprise with the suppliers. These scenarios make it difficult for business managers to analyse the organisational process and improve different perspectives of the business. The managerial accounting process becomes difficult in business enterprises where the internal control systems are not functioning in a proper manner. For large business enterprises, the process becomes even more complex due to the availability of more business metrics.

Future prospects of the business decision making assignment research
The future prospects of business decision making assignmentresearch are based on the information that is available to the researchers in the current day scenario. Managerial accounting is an important staff position for a business enterprise that takes into consideration information from multiple channels and analyses it to form critical business decisions. It has been highlighted by Weygandt et al. (2018), that the responsibilities of a business enterprise are usually classified into line or staff positions. The employees falling into the line positions are involved in revenue-generating and operating activities which can be seen more in the manufacturing industries. On the other hand, the staff positions are involved in the activities that support the efforts put forward by the line positions. The future prospects of the research will significantly change due to the availability of artificial intelligence and machine learning. The managerial accountant will be in line positions within a company in the near future. The development of normative economic models in the 1970s has provided the business managers with a set of decision-making techniques to have in their day to day activities with the help of information from different sources. On the other hand, the positive economic models have successfully explained the predictable economic behaviour of organisational metrics using different organisational theories such as agency and contingency theory (Alsharari, 2019). These theories have significantly created new perspectives for managers regarding managerial accounting. Furthermore, the development of business decision making assignmentresearch activities led to the creation of rational perspectives that successfully address the complexity of the organisational realm. The development in modern technology will significantly be helpful in the future and will help in the development of new perspectives about modern-day managerial accounting practices.

The current day managerial accounting methodology is based on effect, scope and application and the organisational level. According to the views of Ameen et al. (2018), the continued application of technology specifically in the manufacturing industry has led to an increase in productivity that translates into a notable decline in the direct cost of labour and raw material. For instance, in German organisations, managerial accounting is done to ensure better control of operations and processes and to also ensure the increase of modernity of the overall business processes. The concept of Grenzplankostenrechnung is obtained in business enterprises to ensure the effectiveness of internal processes that provides maximum control to the plant and project managers. The future scope of the business decision making assignmentresearchincorporates the use of these new techniques in improving the overall effectiveness of the business.

Managerial accounting incorporates the assessment of financial reports to understand the profitability of long and short term markets. The accounting information from the financial reports is the capability of providing benefits to a large segment of customers in the current market scenario. According to the comments of Gardi et al. (2021), financial analysis has become an individual part of managerial accounting that has the capability of becoming one of its important aspects in the future. The future prospects of the research incorporate the effective use of different tools associated with managerial accounting that will help business enterprises to improve their internal processes. Moreover, the effective use of different tools, techniques and theories will become a significant part of the business decision making assignmentresearch in the future.

Summary
The making process of large business enterprises has changed significantly in recent times. The managerial accounting information has been amplified by emphasizing their role in decision-making capabilities within a business enterprise. According to the views of Oluyisola (2021), the optimization and enhancement of the production process have been able to create a new context for the stimulation of economic development in the current business scenario. Efficient management and functioning of business entities in a competitive environment have become the dominant process due to the limited resources that are available. Under the circumstances, the traditional method of organising the information under the managerial accounting process is not able to satisfy the requirements of today's complex decision-making process.
In general, the economic information is manifested in terms of content and presentation for improving the efficiency and ability of the decision-making process by large multinational organisations. According to the views of Grosu et al. (2019), the cost of production and budgeting issues are some of the easiest processes that are managed by managerial accounting methods. The constant change in the current business scenario is bringing intense changes in these simple processes. The information systems are terms of increasing the impact on business enterprises by invading the management analysis fields. As stated by Mater & Kanasro (2018), the most representative sources of economic data and information can be obtained from economic planning databases. This database forms the major source of information that is being used by managers of large business enterprises. Based on the assumption that every entity has the right to create its own IT system, and communication channels and characterize the available information that will be able to provide benefits to the managerial accounting system.
The managerial accounting system usually belongs to the accounting information system that analyses the participation of the accounting functioning. As per the views of Bostan et al. (2020), managerial accounting is an important and integral part of management accounting that helps in presenting and interpreting the information used for the development of strategies and decision making processes. The appropriate business decision making assignmentresearch activity to clarify the importance of the decision-making process and the external and internal factors indicating the availability of information creates an impact on the managerial accounting standards of a business enterprise. The importance of accounting information for analysing the data and conditions for the decision-making process is usually reflected in the facilities provided by that company in the preparation of the financial reports. It has been highlighted by Hillard & Sedaghat (2021), that the decision-making process is considered the fundamental essence that ensures the success of Management operations in the current competitive environment. Under these circumstances, it becomes important to obtain scientific knowledge and conduct thorough research about the development of appropriate frameworks that help business enterprises in the decision-making process.

Future business decision making assignment research questions
Q1. What will be the transformational changes in the managerial accounting concepts for complex organisations in the future?
Q2. How will the current practices related to managerial accounting create an impact on the perspectives of business operations in the future?
Q3. How will the relationship between financial and managerial accounting create an impact on the functioning of business managers in the future?
Q4. How will the current practices of managerial accounting be able to create an impact on future financial reports?
Q5. What will be changed in the internal control system and managerial accounting procedures of modern enterprises to ensure flexibility within their business decision making assignmentoperation?

Reference list
Akhmetshin, E. M., Vasilev, V. L., Mironov, D. S., Zatsarinnaya, I., Romanova, M. V., & Yumashev, A. V. (2018). Internal control system in enterprise management: Analysis and interaction matrices.business decision making assignmentRetrieved on 15th May 2022, from: https://www.um.edu.mt/library/oar/bitstream/123456789/33811/1/Internal_Control_System_in_Enterprise _Management_2018.pdf
Alsharari, N. M. (2019). Management accounting and organizational change: alternative perspectives. International Journal of Organizational Analysis. Retrieved on 15th May 2022, from:https://doi.org/10.1108/IJOA-03-2018-1394 Ameen, A. M., Ahmed, M. F., & Abd Hafez, M. A. (2018). The impact of management accounting and how it can be implemented into the organizational culture. Dutch Journal of Finance and Management, 2(1), 02. Retrieved on 15th May 2022, from:https://doi.org/10.20897/djfm/91582
Bostan, R. I., Nastasia, S. C., & Ciobanu, A. M. (2020). The Impact of Managerial Accounting Tools in Decision-Making. LUMEN Proceedings, 10, 221-233.Retrieved on 15th May 2022, from: https://proceedings.lumenpublishing.com/ojs/index.php/lumenproceedings/article/download/219/211
Chen, H. C., & Yang, C. H. (2019). Applying a multiple criteria decision-making approach to establishing green marketing audit criteria. Journal of cleaner production, business decision making assignment210, 256-265.Retrieved on 15th May 2022, from: https://e-tarjome.com/storage/panel/fileuploads/2019-12-22/1577020556_E14118-e-tarjome.pdf Gardi, B., Abdalla Hamza, P., Sabir, B. Y., Mahmood Aziz, H., Sorguli, S., Abdullah, N. N., & Al-Kake, F. (2021). Investigating the effects of financial accounting reports on managerial decision making in small and medium-sized enterprises. Bawan Yassin and Mahmood Aziz, Hassan and Sorguli, Sarhang and Abdullah, Nabaz Nawzad and Al-Kake, farhad, Investigating the Effects of Financial Accounting Reports on Managerial Decision Making in Small and Medium-sized Enterprises (April 28, 2021).Retrieved on 15th May 2022, from: https://www.turcomat.org/index.php/turkbilmat/article/download/4733/3964

Grosu, V., Anisie, L., Hrubliak, O., & Ratsa, A. (2019). Managerial accounting solutions: Lean Six Sigma application in the woodworking industry. A Practical aspect. Economic Annals-XXI, 176. Retrieved on 15th May 2022, from:http://soskin.info/userfiles/file/Economic-Annals-EL_Version/EA-XXI_176_3-4_2019_1.pdf#page=118 Hillard, J. L., & Sedaghat, A. M. (2021). Integrating conceptual and computational managerial accounting topics for student success. Journal of Education for Business, 96(5), 317-326. Retrieved on 15th May 2022, from:https://www.researchgate.net/profile/Jeffrey-Hillard/publication/346814526_Integrating_conceptual_and_computational_managerial_accounting_topics _for_student_success/links/60673759a6fdccad3f69674f/Integrating-conceptual-and-computational-managerial-accounting-topics-for-student-success.pdf
Mater, W. A., & Kanasro, H. (2018). Advanced Managerial Accounting Techniques and Decision Support System: An Empirical Analysis of Small And Medium Enterprises in Jordan. European Scientific Journal,business decision making assignment14, 233-254.Retrieved on 15th May 2022, from: https://www.academia.edu/download/57321209/15.pdf
Oluyisola, O. E. (2021). Towards smart production planning and control: Frameworks and case studies investigating the enhancement of production planning and control using internet-of-things, data analytics and machine learning. Retrieved on 15th May 2022, from:https://ntnuopen.ntnu.no/ntnu-xmlui/bitstream/handle/11250/2760217/Olumide%20Emmanuel%20Oluyisola_PhD.pdfsequence=1

Weygandt, J. J., Kimmel, P. D., Kieso, D. E., & Aly, I. M. (2018). Managerial Accounting: Tools for Business Decision-making. John Wiley & Sons.business decision making assignmentRetrieved on 15th May 2022, from:https://books.google.co.in/books?id=XSaVDwAAQBAJ&lpg=PA1&ots=RM44e_e25-&dq=role%20of%20managerial%20accounting%20on%20internal%20decision%20making%20&lr&pg= PP1#v=onepage&q&f=false

Review of the article
Green Marketing strategy has become one of the most important sustainable business operations in the current scenario. The establishment of a green marketing strategy is based on multiple critical decision analysis (MCDA) techniques that combine an analytic hierarchy process (AHP) for evaluating the current decision-making process. According to the views of Chen & Yang (2019), a green Marketing audit is an efficient tool that assesses the sustainability of marketing tools used by a business enterprise. It is recommended that the focus has to be on the improvement of sustainability of the marketing process. Furthermore, the government has been pushing toward the acceptance of sustainable City Development that incorporates a low carbon strategy for the business practices in the current scenario. The research paper has focused on the complex business world and traditional business strategies that are considered inefficient against the strict environmental policies and the requirements of the stakeholders. It has been highlighted by Chen & Yang (2019), that internal green Marketing actions have been able to successfully develop strategic green Marketing channels that are significantly reducing the negative impacts of marketing strategies on the environment. However, it is recommended from the business decision making assignment research that the internal green marketing strategy must focus on the inefficiencies of the traditional marketing strategies that are being used by business organisations around the world. Furthermore, the assessment can be further improved by focusing more on the mitigation strategies regarding the use of green Marketing channels.

Annotated bibliography
Article 1: Weygandt, J. J., Kimmel, P. D., Kieso, D. E., & Aly, I. M. (2018). Managerial Accounting: Tools for Business Decision-making. John Wiley & Sons.Retrieved on 15th May 2022, from: https://books.google.co.in/books id=XSaVDwAAQBAJ&lpg=PA1&ots=RM44e_e25-&dq=role%20of%20managerial%20accounting%20on%20internal%20decision%20making%20&lr&pg= PP1#v=onepage&q&f=false
The business decision making assignmentResearch question highlights the importance of managerial accounting and the resources it uses in producing the final deliverables for a business enterprise. The appropriate use of information in the article has been able to provide a thorough idea about the different practices that are being followed in the managerial accounting process. As compared to other research articles which assess the complex nature of managerial accounting, this specific article focuses on the basics and helps in the development of basic ideas about the accounting process within a business enterprise. This specific source of information has been quite helpful as it has been able to provide a shape to the arguments discussed in the assessment.
Article 2: Alsharari, N. M. (2019). Management accounting and organizational change: alternative perspectives. International Journal of Organizational Analysis. Retrieved on 15th May 2022, from:https://doi.org/10.1108/IJOA-03-2018-1394

The business decision making assignmentresearch question also focuses on the different perspectives of managerial accounting that are being followed within a business enterprise. The primary focus is always on the effectiveness of the accounting process due to the perspective of the employees of a company. As compared to other general articles which have focused on the basis of managerial accounting and other complex issues related to it, this article has critically discussed the perspectives and their impact on the business scenario. Moreover, the presence of necessary information and availability of ideas regarding different organisational theories have been able to provide an insight into the managerial accounting process in different organisations around the world. Article 3: Ameen, A. M., Ahmed, M. F., & Abd Hafez, M. A. (2018). The impact of management accounting and how it can be implemented into the organizational culture. Dutch Journal of Finance and Management, 2(1), 02. Retrieved on 15th May 2022, from:https://doi.org/10.20897/djfm/91582 The concerning journal article focuses on the approaches and techniques that enable the business enterprise to apply managerial accounting to its business procedures. As compared to other articles this specific article has been able to focus on the differences between financial accounting and managerial accounting and their impact on the business operations of complex organisations. Moreover, it has also provided a perspective on financial management and the nature of the information that is required by a managerial accountant for making important policies and decisions at the organisational level.

Article 4: Gardi, B., Abdalla Hamza, P., Sabir, B. Y., Mahmood Aziz, H., Sorguli, S., Abdullah, N. N., & Al-Kake, F. (2021). Investigating the effects of financial accounting reports on managerial decision making in small and medium-sized enterprises. Bawan Yassin and Mahmood Aziz, Hassan and Sorguli, Sarhang and Abdullah, Nabaz Nawzad and Al-Kake, farhad, Investigating the Effects of Financial Accounting Reports on Managerial Decision Making in Small and Medium-sized Enterprises (April 28, 2021).Retrieved on 15th May 2022, from: https://www.turcomat.org/index.php/turkbilmat/article/download/4733/3964

The managerial accounting procedure is not an independent process and requires extensive information from different sources to formulate the policies. This information is obtained from financial reports after assessment of long and short term market profitability of the financial conditions of the concerning business enterprise. As compared to other research articles it provides a detailed inside about the source of information that is used by managers for accounting purposes in large business organisations. Furthermore, the article also focuses on historic value-based management methods of shareholders in understanding the impact of managerial decisions on the performance of business enterprises.
Article 5: Akhmetshin, E. M., Vasilev, V. L., Mironov, D. S., Zatsarinnaya, I., Romanova, M. V., & Yumashev, A. V. (2018). Internal control system in enterprise management: Analysis and interaction matrices.Retrieved on 15th May 2022, from: https://www.um.edu.mt/library/oar/bitstream/123456789/33811/1/Internal_Control_System_in_Enterprise _Management_2018.pdf
This research article has been able to analyse the different frameworks and theories that are being used to manage the internal control system of the companies. It has further emphasized the use of a matrix approach to risk analysis that helps in the identification of the optimal supplier for a company. Moreover, as compared to other research articles it has been able to emphasize the issues faced by Business enterprises in terms of internal control systems of the business enterprises. The internal control systems and their dependence on the managerial accounting process have been highlighted in this specific business decision making assignmentresearch paper.