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Essay / Research Paper Abstract
This 5 page paper is a review of the book. “Managing Finance for Quality: Bottom-Line Results from Top-Level Commitment” by Stoner and Werner there is an approach that seeks to bring accounting into the mainstream of planning as a part of a total quality management (TQM) approach. The paper looks at the general concepts and outlines the book contents. The bibliography cites 1 source.
Page Count:
5 pages (~225 words per page)
File: TS14_TEfinqual.rtf
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Unformatted sample text from the term paper:
to give management value. Finance is generally seen as an aspect that is a result of the operations and a measure but not an active part of a business, at
most seen as part of the control and budgeting process; Accounting being seen as dry and logical without the passion and application to practicality seen in other areas of business.
However this is a very staid and limited view of accounting ad does not allow for the value that the use of accounting tools can bring to a business
at part of an holistic approach that can add value throughout the entire organisation. In the book "Managing Finance for Quality: Bottom-Line Results from Top-Level Commitment" by Stoner and Werner
there is an approach that seeks to bring accounting into the mainstream of planning as a part of a total quality management (TQM) approach. The book, published in 1994
may be seen as slightly out of date, but in reality when looking at many of the messages which are also backed up by a range of cases studies that
indicate the book, at the time it was written, was ahead of this time. The book uses cutting edge cases that helped to who how TQM could be used
in terms of accounting price in order to increase value in a firm and increase the profit or the bottom line. Cases such as the courier company Federal Express and
Motorola. Motorola was the electronics company that used TQM to turn itself around reducing the high cost of repairs that were pulling profits down and creating a system that has
lead to a high degree of profits. In both cases, the use of TQM was a tool that was used, but it was not focused on a single department
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