Managerial Accounting Practices Essay Example | Topics and Well Written Essays - 500 words

Managerial Accounting Practices - Essay Example These stakeholders include employees, management and equity holders. â€Å"The process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its resources (wikipedia, 2007)†. The scope of studies done by management accountants enable them to serve their organizations in vast variety of tasks and role and they have the ability to assume different roles in different circumstances due to their great flexibility in changing their orientation as per required. Management accountants provides helps organizations by performing all the budgeting and planning function for their organizations working on the basic information that they gather from different departments and different business processes. Managerial accounting helps organization in safeguarding their resources since they take into account all the variances that occur in a particular period and the exactly pinpoint the place where these variances occur. This helps management to take counter action of these losses of assets. This greatly reduced the cost for an organization. Managerial accountants help organization to use their resources in the most optimal fashion. They do so by performing the JIT procedures and methods to ensure that only the minimum amount of inventory load is borne by organizations and departments receive materials and goods only when needed. This reduces burden in the form of reduced handling and storage cost of inventory. Management accountant helps financial accountants in preparing financial reports for external stakeholders such as stockholders, auditors and government officials. They also prepare management reports for different levels of management depending on their requirement. These reports help departments analyze their performance during the past period and enable them to reorganize and

Basha Restaurant Business Plan Assignment Example | Topics and Well Written Essays - 3750 words

Basha Restaurant Business Plan - Assignment Example The restaurant meets the expectation of the customers by providing them valuable services by the restaurant staff. The manage constantly runs a check on the activities taking place in the restaurant which assures the customer that everything is in control and being evaluated constantly. The restaurant staff is trained to provide effective and efficient services to the customers. The cuisines are developed by authentic Arabic chefs and the recipes used are also authentic. This adds on to the credibility of the restaurant. The taste of the food is given special consideration as the owners of Basha want the food to be perfect in all regards for their valuable customers. The pricing and profitability strategy has been developed considering all the expenses and investments required to start up the business. Table of Contents Introduction 5 Objectives 5 Sales Objectives 5 Mission 6 Keys to Success 7 Company Summary 7 Company Ownership 7 Start-up Summary 7 Company Location and Facilities 9 Services 10 Competitive Comparison 10 Sales Literature 10 Market Analysis Summary 10 Target Market Segment Strategy 10 Marketing Programs 10 Pricing and Profitability Strategy 11 Cost of Goods Sold 13 References 17 Basha Restaurant Business Plan Introduction Basha is one of the distinctive restaurants in Dubai that offers authentic Arabic cuisines to its valuable customers.... The Basha restaurant in Dubai has its location at the terrace of Habtoor Grand Resort and Spa from where the view of Dubai is outstanding (Al Basha in the Habtoor Grand Beach Resort and Spa, Dubai Marina Mall, Dubai – Restaurant Reviews—TimeOutDubai.com, 2012). The paper discusses the business plan according to a standard format of a business plan (Floor, 2003) Objectives The objectives of Basha Arabic Restaurant in Dubai are as follows: To provide authentic Arabic Cuisine To increase the market share in Dubai amongst other Arabic Restaurants To provide a soothing ambience to the customers of the restaurant To increase profits by 25% in the year 2013 Sales Objectives To increase sales by 15 % in the year 2013 that is reach a amount of AED 140,000 Mission The mission of Basha Arabic restaurant is to provide authentic Arabic cuisines to the customers of Dubai so that they can get a feel about the Arabic cuisines. The customers should enjoy dine out at Basha and the ambien ce of the restaurant should be such that the customers should feel they are dining out in core Middle Eastern country. The ingredients used should be of good quality, the chef should be Arabic and recipes of the Basha restaurant should be authentic Arabic recipes. The cuisines served should be fresh and should be served in the most unique manner by the restaurant staff. Presentation of the cuisines should be highly appealing attractive. Customers are paying a premium price at Basha and so they should be entertained with the best Arabic cuisines in town. Basha wants its market share to increase and also the number of customers should make repeat visits in the restaurant. The staff should be well aware of all the Arabic cuisines being served in the restaurant