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a) 1. The characteristic of Professional Service Firm (PSF) is “Everything revolves around the client”. In PSF, client is the reason for existence because clients are dominant force. Everything is driven by client service – vision, value and culture; infrastructure and governance; equity and compensation; talent management; service development; brand, marketing and sales. You live or die in a PSF by your ability to acquire, serve and retain client.
Organizational structures are extremely simple. Even the global, multibillion-dollar professional service organizations we studied are essentially lean, flat organizations with few leaders at the top and minimal administrative layers. In professional services, autonomy and entrepreneurship are encouraged and valued. Most professional aspire to practice their skills and work with their clients, not lead the organization. Too much bureaucracy driver them crazy. In fact, if the firm’s structure becomes too cumbersome and rigid, more often than people will simply ignore or bypass it.
It’s about the work more than the money. Profit is not the primary driver in professional services. People typically enter the business because they really like what they do so and often have spent many years studying and training to perfect their skills. They typically don’t join the industry to start their own firm or built a giant business. They want to do what they have spent years learning to do practice the law, design and built a bridge, launch a global ad campaign, or solve a complex business problem.
Any technology that facilitates social interactions and is enabled by a communications capability, such as the Internet or a mobile device. Examples are social software (e.g., wikis, blogs, social netwo...
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...process of identifying, measuring, and communicating financial information was documented in the form of paper records, columns of numbers and hand written statements (“How Technology,” n.d.). An accountant had to be a very methodical, detail oriented person.
Towards the end of the twentieth century the accounting profession began to take on a whole new look. Computers and accounting software has changed the industry completely. With programs such as Microsoft Excel an accountant now had an electronic spreadsheet. The need for adding machines, calculators, ledgers and pencils was eliminated. The job became less tedious with less of a margin for error. The core training for accountants which included the basic accounting, auditing and tax preparation was a thing of the past. With use of the computer an accountant can now perform statistical accounting or forecasting
It is possible to distinguish the professional relationship with clients from the personal relationship. Even though there are various challenges, one can put up measures with the aim of ensuring that the difference is very clear.
Organizational structure can be defined as the “formal arrangement of jobs within an organization” (Robbins & Coulter, 2009, p. 185). Having a defined and unified structure helps employees work more efficiently. Jacques Kemp, former CEO of ING Insurance Asia/Pacific, realized this need early on in his role. The company had been performing well and recently acquired another insurance company to become “one of the largest life insurance companies in Asia-Pacific” (Schotter, 2006, p. 4). However, Kemp’s proactive personality led him to seek out ways to achieve more efficient coordination between the regional office and business units (Robbins & Coulter, 2009). Kemp noticed that “most business unit managers did not even know the current corporate standards” and he began searching for a way to manage the managers (Schotter, 2006, p. 5). ING Insurance Asia/Pacific’s organizational structure was mechanistic and fairly well structured, but for a company that had recently been involved in a major acquisition and was divided across 12 geographically dispersed markets there was a great need to tweak this structure to unify the company (Schotter, 2006). If I had been in Kemp’s position as CEO, I would have made modifications to the organizational chain of command, formalized business processes, and used technology to stimulate collaboration amongst the region to help this company overcome organizational design challenges.
The members have been generating client bases in their own related businesses since 1999, previously, the members enjoyed mild success in their own businesses, and have been limited only by capital and available time.
Accounting: From Clay Tablets to the Cloud, How Technology has Changed the Accounting Profession Every business professional knows that accounting is the language of business. The language of business has especially been transformed in the last 38 years due to the almost constant change in technology and technology. Accounting professionals have become the interpreters for the language of business, a language that all business professionals must understand to be successful. in today’s highly competitive market.
Accountants are becoming a needed job in the business industry and play a very important role in the success of many businesses. This job usually requires at least a bachelor’s degree in accounting and sometimes even a CPA (Certified Public Accountant). There are many other things that are needed to be considered before choosing this career. The job environment, education, skills, and benefits are just some of the many things that need to be thought through before considering this career.
The following essay aims to analyse in depth a computerised accounting system and its aspects such as its history, what technologies is based on, and how it has developed since its beginning. Other aspects such as the current state of the system and the interactions with other systems and the future of the system will also be covered in this paper.
I am interested in conducting research and teaching in managerial accounting, auditing and assurance services and accounting information systems. In particular, I am interested in exploring the role of accounting information systems in decision making, internal control, and auditing. In order to gain an appreciation of these and related issues, it is essential for me to have a strong grounding accounting, accounting information systems, information technology, managerial accounting, as well as gain a general economic and management perspective.
“Social software is the integration of communication and collaboration technologies that allow people to meet, interact and share ideas, artefacts and interests with each other.( Aelita,1)” Social software technologies include email, wikis, blogs, and knowledge sharing functions such as collaborative editing and document management. Some social tools also integrate real-time features, including instant messaging and web conferencing with voice and video. (See Table 1)
Having an understanding of professional organisations can help a manager effectively manage dire situations or reactions from staff. As Shell (2003) explained professionals are a different group of people, they are experts in their own field giving them expert power and therefore must be managed differently. Professionals are highly autonomous therefore they expect a high degree of control and the freedom to exercise their independent professional judgements. They act to serve their own primary interest, and not necessary the organisation’s.
An Accounting Information System (AIS) can be defined as software that helps accountants to collect data and process it to create information ((Bagranoff, Simkin and Norman 2010)
Change is inevitable. Yogi Berra once said “The future ain’t what it used to be.” It is clear that the future of the accounting profession ain’t what it used to be (Gormon and Hargadon 1). The changes occurring are happening fast, they are dynamic and they are completely and undeniably real. Since the world around the accountant is changing, the accountant has no option but to change as well. The field of accounting has always been one to know change and to know adjustment, but within the recent past and certainly within the next few decades, the changes that are occurring and will occur absolutely are the most dramatic and exponential yet. Obvious changes lie in the expanding scope of services performed by accountants, the increased use of
Accounting has been a living part of history since the Neolithic period and remains a prevalent and ever-evolving profession still to this day. This essay therefore proposes to look at the significance and role of history specifically related to the accountancy field. In order to substantiate this claim of the importance of accounting history, numerous benefits of accounting history will be presented. Factors such as the use of historical research and its availability thereof to constantly develop accounting policies will be discussed as well as how historical accounting practices can be used to understand current practice and assist in the training of individuals in the accounting field. Lastly, the importance of history in the development
In any organization there should be a structure wither its formal or in formal and depend on the type of organization and the product or service that they provide. We can’t say that this structure best or better than the other , because you would not expect businesses with professional leading, such as legal or medical practice,
Accounting is one of the fastest growing fields in the United States It expands each time a new store, a factory, a filling station, or a school goes up, whether in a large city or a small town. In today's society, the demand for good accountants for exceeds the supply. As our country has expanded, business and industry have become more and more complex, so control here is very important. And control depends on a great deal of the bookkeepers and accountants who can analyze figues and advise management on what should be done. They are using more scientific ways changing money, figuring change, and collecting sales taxes. Moreover, department stores and other companies now have plants and offices widely scattered throughout the country. A new set of bookkeepers and accountants, is needed at each branch. I know there are many managements supervisory, and junior or senior executive positions are bing filled by people who started as accountants because accountants have the knowledge of methods and finance and comprehension of the fundamentals of business, and acc...
There are different types of technology; the most common type is information technology, which includes smart phones, computers/laptops, GPS and many other devices. Smart phones make it easier to reach people by calling, texting, chatting, Snap chatting and even