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

Engineering Management - Essay Example The ledge must always balance at all times. There are basics to know when making cashbook 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 topics in this section are role of accounting and finance. The topic will help me appreciate accounting as an important entity in any thriving institution. Financial statements as a topic will help with interpretation of my personal bank statements .Accounting basics and double entry as topics will help management and development of my own personal cashbook for a local business. Journal entries as a topic will help in reconciling cash book statements of my business with the statement as per the bank. Financial analysis is very important in accounting .It helps in identifying whether the business or the company has made profits or losses. Financial analysis is always done from period to period, when a significant change has been noted or between companies to company. There are various types of financial 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, coordination of activities, time management and improved productivity. Budgeting

Essay in 3 part Example | Topics and Well Written Essays - 1500 words

In 3 part - Essay Example I think education grooms a person, and if the education discipline is that in which one wants to pursue a career, then there remains practically nothing between success and the person, assuming he puts in all his efforts into his work. Studying business management would not only allow me to understand various theories that underpin how businesses are managed, but would also allow me to learn from real life experiences of people, that I could later use to my help when I start my career. Moreover, almost all business management courses have an internship requirement before graduation, and that I believe, is the perfect time when young business graduates get to apply theoretical knowledge at work and get hands on experience with real life scenarios. Once I get done with my Bachelors’ Degree in Business Management, I would have a lot of career opportunities lying in front of me. To start off with, I would ideally want to start my own company from scratch and take it to the verge of success. However, sometimes situations arise that cause a deviation from the prime plan; in these circumstances too I believe having studied business management I would be open to a wide array of jobs around the globe. A look down business management graduates tell us that they have been able to discover innumerable career opportunities in all fields of work, including accounting, finance, human resource, supply chain management and various others. In this section I would be comparing the university where I would be pursuing my education from, Liverpool John Moores University (LJMU), against another university which teaches the discipline that I would be pursuing; Manchester Metropolitan University Coventry University (MMU). LJMU gives a rough timeline of completion of the BA Hons Degree in Business Management as three years, while CU also gives a similar time frame for degree completion. A look at the course structure of the two programs also proves that both of