Organizations also have to focus on the corporate social responsibility to serve different stakeholders, for example, clients, employees, suppliers, groups, and ecological and human rights advocates, whose interests are attached to the organization's execution. A corporate social responsibility is a business practice that involve the organizations making decisions that concern society benefit. Companies should provide customers with safe and high quality products that are fairly priced and easy to use information system for shopping and tracking orders. Organizations become more nimble, relevant, and responsive to internal and external customers (Walker, 2008, sec.10). Suppliers should be provided with fair contract terms and prompt payment
…show more content…
One key provision of this law, Section 404, has proved to be particularly difficult for companies, especially those that didn't have good internal controls, processes, and procedures already in place. The law requires that the management of publicly traded companies attest to the effectiveness of internal controls in each annual report they file with the Securities & Exchange Commission (SEC). SOX compliance is about financial reporting, focusing on establishing good business practices, and ensuring proper controls are in place to identify potential areas of concern for management. But some executives also have been viewing and using it as an opportunity to streamline and improve business processes, improve efficiency, and increase competitiveness,” (2008, sec. …show more content…
In short, managerial accounting stresses attention to the accurate and complete collecting of cost information by product or service and by responsibility center in order to project future actions, determine prices, control costs and assess performance (Brown, Sprohge, 1987, p. 42). In managerial accounting to stay focus on the computation and reading. Many people just look for the formula and the number and try to figure out the answer in that order, but it’s not just that simple. According to Cristian, The managerial account information should be relevant, accurate, timely and cost effective Managerial accounting should adopt itself to the changing circumstances (2014,
One key provision of this law, Section 404, has proved to be particularly difficult for companies, especially those that didn't have good internal controls, processes, and procedures already in place. The law requires that the management of publicly traded companies attest to the effectiveness of internal controls in each annual report they file with the Securities & Exchange Commission (SEC). SOX compliance is about financial reporting, focusing on establishing good business practices, and ensuring proper controls are in place to identify potential areas of concern for management. But some executives also have been viewing and using it as an opportunity to streamline and improve business processes, improve efficiency, and increase competitiveness,” (2008, sec. …show more content…
In short, managerial accounting stresses attention to the accurate and complete collecting of cost information by product or service and by responsibility center in order to project future actions, determine prices, control costs and assess performance (Brown, Sprohge, 1987, p. 42). In managerial accounting to stay focus on the computation and reading. Many people just look for the formula and the number and try to figure out the answer in that order, but it’s not just that simple. According to Cristian, The managerial account information should be relevant, accurate, timely and cost effective Managerial accounting should adopt itself to the changing circumstances (2014,