Getting the Financial Message Across in Manufacturing Industry

Article Abstract:

Communicating financial control and profitability issues to all levels of personnel in a manufacturing organization is a complex problem for the company accountant. Five causes of misunderstanding are listed. They include difference in education, use of technical jargon and abstract terms and the understanding of different but related functional concepts. Variance reporting is the most important communication of the management accountant. A new design of the variance report is suggested by dropping the jargon, grouping individuals and capturing reasons for overspending. The accountant needs to deal with the image he projects to others in the factory so that he can improve it to effectively communicate. Special concern needs to be taken with the introduction of new technology in the factory. For effectiveness, the accountant needs to give full credit for work done, act as a teacher and establish a good relationship with production engineering specialists. The management accountant should aggressively pursue a role as financial stimulator. Formal management techniques can be developed in a company lacking them by setting up different committees and placing engineering and technical personnel in the key positions.

Product information, Organizational communication, Managerial accounting

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Scottish Financial Enterprise

Article Abstract:

A joint working party, chaired by the Governor of the Bank of Scotland, with representatives from the Scottish Council, the Scottish Development Agency and the Edinburgh Chamber of Commerce, formed the Scottish Financial Enterprise (SFE), to be run by a former executive of Deloitte Haskins and Sells in Edinburgh, to promote the Scottish financial services industry both domestically and internationally. SFE plans to use marketing techniques to make the services available from Scottish financial service firms better known among members of the worldwide business community. The number one priority for the SFE has been defined as maximizing the amount of money and the volume of transactions passing through Scotland's financial services industry members.

Financial services industry, Financial services, Administrative agencies, Government agencies

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Scottish homes and the voluntary housing movement

Article Abstract:

Changes in the Scottish housing laws have resulted in the formation of a new funding and facilitating association, "Scottish Homes" which will control 75,000 Scottish housing units. The primary goal of Scottish Homes will be to upgrade the quality of Scottish housing. Specific areas of change will include: tenants' choices; financial risk; private finance and the housing association movement.

Laws, regulations and rules, Residential construction, House construction, Housing authorities

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