Accounting for Decision Makers -Discussion Question Essay

Accounting for Decision Makers -Discussion Question - Essay Example The ABC model enables business organizations to adequately approximate the cost elements applicable to the products, activities and services. The cost elements enables business organizations make appropriate decisions. One decision entails identifying products and services that are loss generating or less profitable. The second decision entails removing the service and product which are ineffective, and ensure processing approach which results in better yielding products and services. ABC analyses the product and consumer expenses and also profitability, according to the production and the performing processes. Thus, ABC has the applied in supporting strategic business aspects like; pricing, outsourcing, and also the process improvement approaches (Hartgraves & Morse, 2015). ABC illustrates; fixed costs, variable costs, and overhead costs. The cost split illustrates the cost drivers. For example, in operating machines, the main cost driver is the machine operating driver. This is because the machine operating hours greatly influences the labor, power and also machine maintenance costs. ABC is effectively used in routine business processes. ABC ensures allocation of adequate resources to the profitable products and activities, resulting to enhanced profitability levels. ABC also ensures the removal of unnecessary costs, and this improves the revenues generation levels of the business organization (Hartgraves & Morse,

Team work Essay Example | Topics and Well Written Essays - 750 words

Team work - Essay Example I feel, as a member of my team, that I have been very fundamentally contributing to this team in various ways that have made the team to make the milestones that they have so far, until now, the team is able to reap success in its hard work through commitment. My contribution has been to arrange when to meet every time and also to look for the venue for meeting as a team. I have also been involved in raising thought provoking questions that have been in line with our project, that have enabled our group members to always involve in brainstorming for us to get solutions to the problems that we had to handle from time to time. I can also remember that, when we first came together as a group, it was my initiative to lead the group into carrying out a formal introduction of all the group members. We only came together as team of members, who hardly knew each other well, and this could have been an impediment to our success since, it is hard to work together with people you do not talk wi th. To make everyone feel free and contribute their efforts o the group, I thought there was a need for a session to know each other before we could begin our project. One thing I have to commend my team about is the way in which the tem was organized. We had everyone assigned its duty on every occasion that we met. For instance, we had a team leader whose responsibility was to assign duties to every team member. The team leader could ensure that every team member had a responsibility that would contribute to the team’s success. This was very important in increasing the team’s effectiveness in carrying out the project since every member was involved in contributing to the team’s success. Most of the time, I had the responsibility as the team’s organizing secretary and my duties were to organize and schedule events and fix venues for our team, in conjunction with the other team members. Such kinds of responsibilities were very