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Essay / Research Paper Abstract
This 3 page paper is based on a case study supplied by the student. The paper is written in three parts, the first considers how and why budgets and performance reports may be useful. The second part of the paper discusses the potential impact on ethics on the way that decisions are made. The last part of the paper looks at what type of accounting information would be useful in the decision making process. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEgill01.rtf
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Unformatted sample text from the term paper:
way that the firm operates. The use of budgets and performance reports can aid with the decision making. Budgets allow for projection
to be made regarding costs and profits. Guillermo has to make a decision comparing different options, such as dealing with the company that has a plant in Norway and shifting
the focus from production to distribution. This will involve a number of changes. Guillermo will need to make a decision that allows his business to remain viable, choosing the best
option for the business. Ss such the costs and the profits for the different options need to be assessed. Budgets allow for the costs to be assessed, assessing the costs
associated with the different options as well as the revenues that they will generate. This allows for comparison to be made (Chadwick, 2004).
Performance reports may also be important, especially if assessing an external supplier. There is always risk in any scenario, the risks come from different sources, and performance reports for
the different factors, such as the quality of the external supplier, delivery times and compliance levels would be valuable to assess risks, as may market performance reports. This adds additional
information into the decision making process. Question 2 Ethics are always a consideration in business. Ethics may be defined as a "system of moral principles" (Dictionary.com. 2009). Therefore
this relates to the morals or values that the business owner has and how they apply them to their business. In this case there is a decision that may result
in job losses and the values of the employer may be an influence. A local business may provide jobs for a large number
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