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ololo11 [35]
3 years ago
10

Press conferences serve which of the following purposes for an organization?

Business
1 answer:
Masteriza [31]3 years ago
5 0

A press conference serves to answer question regarding the organization and any information that the organization wishes to share.

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Question 1 What forces have caused cost and management accounting systems designed decades ago to become less relevant and less
sergey [27]

Answer to Question 1:

The forces that had lessened the importance of the cost and management accounting systems in today's dynamic world are as under:

  • The ancient bookkeeping and the costing techniques were very time consuming and the accounting systems were also not integrated with the financial accounting systems. Today we have very robust and integrated systems which helps the management of the business operations nation wide with greater security and better performance than the previous old versions.
  • The complexity of the organization operations have resulted in origination of additional management accounting techniques that were adapted in the form of automated software, that are used to produce management reports on daily, weekly, monthly and yearly basis. The examples include the Throughput costing, Activity based costing, Bench-marking techniques, etc.
  • The activities automation has led to attaining of maximum efficiency possible in some areas which wasn't possible in the past. The robots management systems, activity automation, etc has increased the fixed cost share in the total cost and the variable cost has become a very minute share of the total cost of the activity. This variable cost which is often referred to as controllable cost, is very less in percentage share of total cost today than 10 years back. In the future, we will see it as a very very very small share of total cost. This makes the today's management costing techniques obsolete and requires new solutions, new techniques, new softwares, etc. to manage the companies operations.

Answer to Question 2:

The target costing is a costing technique that helps to reduce the cost of the company operations by setting cost targets for the operations. The first step under target costing is to set a selling price for the product and the second step is to set the target profit margin. Now at this position we are able to derive the target cost by taking the difference of profit margin and the selling price of the product. At this stage the actions and reforms required to achieve this target cost are determined and implemented in the current operating activities. The best part of the target costing is that it says that the pricing though matters but the main aspect of a product success is its cost controls. If the company is able to control the cost of the product then it can control the movement of prices in the market. So target costing specially focuses and stresses upon cost control procedures.

As Target costing is all about cost controlling and can be applied to any sector. In Ghana, target costing will help to control the cost of the services that the banking sector renders to its customers. This reduction in services cost can be achieved by automation, installation of new softwares, Investing in automated teller machines, etc. By gaining efficiencies, the banking sector will substantially reduce its cost thus achieving its target cost.

By achieving the target cost the bank will have to sell at the same rate as the bank had invested its time and money in efficiency gaining activities. There are a lot of activities and products that can be automated and that can help to achieve the target cost. For example, promoting internet banking will reduce the cost of ATM management, paper cost, management time, additional branch opening or extension of building, etc. We can see how easily internet banking will assist the banking sector to achieve its target costs.

5 0
3 years ago
Suppose you are a leader responsible for an organization’s vision/mission statements. How often do you think they should be chan
Roman55 [17]

Explanation:

Vision and mission statements are extremely important for a company to convey its core values ​​to its employees, suppliers and customers. They help communicate the company's identity and provide direction and set goals that are fundamental to organizational success. They are considered the basis of an organization, <u>so it is not recommended that changes in vision and mission are frequent</u>, the reasons that justify the change <u>would be the change of the organizational focus and the evolution of the organizational objectives and expansion of the target audience.</u>

8 0
3 years ago
9. Problems and Applications Q9 Suppose that a borrower and a lender agree on the nominal interest rate to be paid on a loan. Th
den301095 [7]

Answer: False

Explanation:

The real interest rate is the nominal interest rate adjusted for inflation.

If the nominal interest rate was made with inflation in mind and this inflation is less than anticipated, the real rate will be higher not lower than expected.

For instance: Assume the nominal rate is 8% and the two parties assumed inflation would be 4%. Real rate would be:

= 8 - 4 = 4%

If inflation is instead 2%, real rate would be:

= 8 - 2 = 6%

Real rate would be higher than anticipated.

8 0
2 years ago
According to state agencies that monitor day care facilities, a typical sanitation requirement is that one toilet and handwashin
kompoz [17]
After the word every the answer would be "students"

Final answer,

According to state agencies that monitor day care facilities, a typical sanitation requirement is that one toilet and handwashing fixture be provided for <span>every student</span>


6 0
3 years ago
a strategy involves employing essentially the same strategic theme (low-cost, differentiation, focused, best-cost) in all countr
harkovskaia [24]

The correct answer is option B. Transnational strategy involves employing essentially the same strategic theme in all country markets while allowing some country-to-country customization to fit local market conditions.

In its operations, a transnational strategy makes use of a high degree of local responsiveness and a high degree of global integration. It aims to standardize as much as it can while simultaneously localizing its offerings to each worldwide market. Offering specialized goods and services for regional markets while maintaining a high level of standardization to gain from economies of scale is the aim of multinational strategy.

Large corporations that have a variety of subsidiaries, branches, or offices across numerous international markets frequently employ transnational strategy. Determining what remains constant across all worldwide communications and processes and where local subsidiary adjustments in global marketplaces are changed or authorized presents a difficulty.

Learn more about Transnational strategy at

brainly.com/question/28199118?referrer=searchResults

#SPJ4

5 0
1 year ago
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