Engineering Management Essay Example | Topics and Well Written Essays - 2750 words

applied science Management - Essay ExampleThe ledge must(prenominal) perpetually balance at all times. there are basics to know when making cash hold in entries. The assets increase with a debit and decreases with credit .The revenues and the liabilities decrease with a debit and increases with a credit. Finally , the expenses are increased with a debit and decreases with a credit. Accounting is always subject to interpretation, opinion and consistency.The most important guinea pigs in this section are role of accounting and finance. The topic will help me appreciate accounting as an important entity in any thriving institution. fiscal statements as a topic will help with interpretation of my personal bank statements .Accounting basics and treble entry as topics will help management and development of my own personal cashbook for a topical anesthetic business. Journal entries as a topic will help in reconciling cash book statements of my business with the statement as per the bank. monetary compend is very important in accounting .It helps in identifying whether the business or the company has made profits or losses. Financial analysis is always through from period to period, when a significant change has been noted or between companies to company. There are mingled types of fiscal analysis. These are current ratios, profitability analysis ratios, activity analysis ratios, capital structure analysis ratios and capital market analysis ratio.Budget is another function of the managers. The financial analysis and statements helps managers to make financial allocations and plans for oncoming activities that require funding. Budgeting is always done annually and allocated to the respective departments. During budgeting, financial history, assumptions, external factors and flexibility must be put into consideration to make the budgeting process effective.Financial accounting also helps in planning. Financial planning helps in control of resources, coordinatio n of activities, time management and improved productivity. Budgeting