MBA600 Effective Management

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MBA600 Effective Management

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MBA600 Effective Management

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Course Code: MBA600
University: Kaplan Business School

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Country: Australia

Questions:
1. You will use your knowledge, practical, applied and reflective skills to research and clearly identify what traits and requirements your role needs to be an effective manager across a broad context of workplace problems.
 
2. You will identify and show coverage of the major workplace problems/duties and responsibilities this role may encounter 
Answers:
Description of the role of an accountant and auditor

There are numerous duties and roles that accountants and auditors do.
These duties, however, depend on the area of specialization. As mentioned earlier, there are different types of accountants and auditors (Chan & Vasarhelyi, 2018 p.199).
For instance, there are forensic accountants, management accountants, public accountants, cots accountants among others
Role of accountant and auditors (Chan & Vasarhelyi, 2018 p.201).
Some of the common duties that accountants and auditors do are outlined below;
Accountants and auditors are involved in the formulation of financial reports that specifically display an organizations’ profits/loss, equity and cash flow
Carrying out an analysis so as to determine exactly where an organization is generating and loosing cash
Carefully examining an organizations bank statements with the aim of reconciling them with general ledger entries
Keeping track on incoming payments and outgoing ones
Carrying out an analysis on financial data present so as to determine an organizations financial capability.
Just like any other career, accounting and auditing has some serious workplace problems and also duties that need to be accomplished in a very professional manner.
Problems encountered in accounting (Edwards, 2013 p.10).
Need to deliver to deadline 
Accounting and auditing is more about service delivery. Accountants and auditors should be in a position to deliver good and quality services on time. There is always constant pressure from clients (Gray & Laughlin,2012 p.290).
Some clients are very specific and they prefer their work done with very high levels of perfections and on time. Basically a practice that is not customer/client focused is going to be of really low quality.
Getting clients on board with new technology
Technology is advancing each and every day.
The evolution of technology is a very positive thing but at times accountants and auditors do experience some tough times in trying to get clients on board as far as the new technological advancements are concerned especially in the areas of operations
Accessing clients using technology (Edwards, 2013 p.109).
Staying on top of tax changes
There are always constant changes in regard to tax regimes.
 This constant tax changes imply that there is a constant need for accountants and auditors to always stay on top of these changes and always being updated on any changes.
These changes are triggered by quite a number of factors.
For instance, they could be intended to stimulate certain sections of the economy, close existing loopholes and/or even raise greater revenue.
Being in a position to understand the triggers and causes of the tax changes is one way of getting on top of these changes(Jones, 2011 p.40).
Being alert of work-related expenses crackdowns 
Quite often, there are some really high levels of work-related expenses crackdowns in the field of accounting and auditing.
At times accountants and auditors speak to their clients telling them that everything is on track and a week or two later they come back with totally different explanations regarding the same matter
Getting ready for crackdowns (Burritt & Schaltegger, 2010 p.89).
A reflection of the skills needed for the work-problems/roles and the way they address the problems
The  work problem that would be looked at here are; Need to deliver to deadline and Being alert of work-related expenses crackdowns. These are very common work problems in accounting that when not carefully handled can really cause huge problems and loses.
With the issue of need to deliver on deadline, it is important that one possess certain types of skills that are needed in the accounting and auditing profession (Bodnar & Hopwood,2012 p.312).
One of the skills for instance that can be used to handle this issue of need to deliver on time is the issue of time management.
An accountant or an auditor who has the skill of time management rooted in them will have less issues and challenges when dealing with this challenge because they will know how to plan themselves and defiantly be in a position to deliver when required thus avoiding the last minute pressure.
References
Bodnar, G.H. and Hopwood, W.S., 2012. Accounting information systems. Upper Saddle River: Pearson.
Burritt, R.L. and Schaltegger, S., 2010. Sustainability accounting and reporting: fad or trend?. Accounting, Auditing & Accountability Journal, 23(7), pp.829-846.
Chan, D.Y. and Vasarhelyi, M.A., 2018. Innovation and practice of continuous auditing. In Continuous Auditing: Theory and Application (pp. 271-283). Emerald Publishing Limited.
Edwards, J.R., 2013. A History of Financial Accounting (RLE Accounting). Routledge.
Gray, R. and Laughlin, R., 2012. It was 20 years ago today: Sgt Pepper, accounting, auditing & accountability journal, green accounting and the blue meanies. Accounting, Auditing & Accountability Journal, 25(2), pp.228-255.
Jones, M. ed., 2011. Creative accounting, fraud and international accounting scandals. John Wiley & Sons.
Libby, R., 2017. Accounting and human information processing. In The Routledge Companion to Behavioural Accounting Research (pp. 42-54). Routledge.
Nigrini, M.J., 2012. Benford’s Law: Applications for forensic accounting, auditing, and fraud detection (Vol. 586). John Wiley & Sons.

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