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CONTEMP NURSING
QUESTION
write a reflection post from your point-of-view. As such, you may use first-person pronouns and your personal opinions to connect, share, and apply information pertaining to topics that are discussed in chapter 14, 15 or 16 (See Module 4).
Your reflections should include:
Interesting and insightful observations from course related activities (e.g. discussions, readings)
Opinions with explanations and justifications
Application of what you have learned (e.g. work, profession, education)To reiterate, your post should be completed for only one chapter (14, 15 or 16). In addition, you should only generate ideas (not copy and paste information) from your group's Wiki document.
Chapter 14 Exploring Social Media and e-Business
Chapter 15 Using Management and Accounting Information
Chapter 16 Mastering Financial Management
| Subject | Nursing | Pages | 3 | Style | APA |
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Answer
Using Management and Accounting Information
Management and accounting information are all the relevant information in the organization. The information consists of data about staff, meetings, processes, projections, or customers. The data used in management information combines qualitative and quantitative data to determine the general view of the company. On the other hand, accounting information is processes used to record, summarize, analyze and interpret financial data of the organization. The information is relevant to the company’s stakeholders such as the employees, creditors, regulatory authorities and the shareholders. Management and accounting information is important since it is the only channel through which companies communicate to the internal and external business environment.
Management and accounting information are key components of an organization. As a business manager, I need the information to positively influence company’s decision making processes and encourage development and stability in the business. Managers depend on this information to plan for future events and decisions (Socea 51). As a manager, I have learned that this information will help me to identify past events that will help in the preparation of future activities. I will focus on potential growth events and change the organizational culture to suit current solutions. In this case, I have the obligation to formulate a response that captures the company’s competitive advantages to secure its productivity.
Accounting information is critical since they help in reducing the complexity and uncertainty of actions, offer possibilities and limitation of unconventional solutions (Socea 51). I can use accounting information to understand the financial position of the company, changes that have occurred and the performance of the organization. Accounting tends to reduce uncertainty and enable the manager to construct informed decisions based on past events (Socea 51). It is also important to analyze the accounting information to understand issues that are overlooked during daily activities. The role of management and accounting information is to help managers understand the business and influence their decision-making process to improved productivity.
References
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Socea, Alexandra-Daniela. “Managerial decision-making and financial accounting information.” Procedia-Social and Behavioral Science 58 (2012):47-55.
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