I – Introduction

During this presentation, I will go over the fundamental definitions of accounting as well as its
current state. Additionally, I will use spreadsheets to develop budgets for our clients, VietStar
Ltd., in order to facilitate planning, control, and decision making.

II - Main contents
1. Definition
Accounting is the process of compiling financial information in a way that is clear and
understandable to all parties involved, including investors and creditors. The main goal of
accounting is to keep track of and report on a business's financial dealings, results, and cash
flow.(Powell, 2022).

2. Main types of accounting

In order to more effectively manage and analyze financial data, accountants will be divided up
into specialized fields. The three most well-known are financial accounting, management
accounting, and tax accounting :

Financial accounting: Financial accounting analyzes past financial transactions to compile

reports on a company's financial health. The purpose of these reports is to provide timely and
relevant information about a company's financial situation and operating results to owners,
managers, investors, creditors, and government agencies.. (Javed, 2022).
 
Management accounting: In contrast to financial accounting, management accounting does not
make its information available to the public. Managers utilize it to carry out their primary duties,
such as evaluating different divisions and goods. The management accounting system
incorporates both past and projected data to provide relevant reports and information that internal
management may use to make decisions (Javed, 2022).

Tax accounting: Accounting for taxes provides guidelines and formulas for determining taxable
income by outlining the processes and methods used to prepare tax returns and other
documentation needed for tax compliance. (Javed, 2022).
 3. Purpose and scope of accounting.
The purpose of auditing is to confirm the financial status reported in the financial statements.
Accounts are examined to see if the financial statements accurately depict the company's
financial situation and profit or loss. The intelligent and thorough evaluation of the reliability,
sufficiency, and correctness of accounting data and financial statements is called auditing.

The field of accounting encompasses every sector of society, from corporations and governments
to banks and households. It is a common misconception that accountants only care about a
company's money matters. As important as it is for corporations, accounting is also essential for
households and individuals.

4. Function of Accounting

 Keeping detailed records

Accounting has a number of important roles, and one of them is to tell the users of the system
about the results, such as the net profit or loss. This is done with the help of financial statements,
and the goal is to help the people involved make smart decisions (What are the functions of
accounting?).
 Helping people make good decisions:
Accounting has a number of important roles, and one of them is to help users understand the
results, such as the net profit or loss, so they can make good decisions. This is an important part
of accounting because of this (What are the functions of accounting?).
 Legal compliance
When making the financial statements, the most important thing to think about is following the
rules. (What are the functions of accounting?)
 Taking care of a business's assets
Accounting not only keeps track of all of the company's assets but also makes sure that none of
the company's property or assets are used in a way that isn't allowed.(What are the functions of
accounting?)
 How to figure out profit or loss
Accounting is a very important part of figuring out whether or not a business has made a profit or
lost money over the course of an accounting period. But this is only possible if the firm keeps
accurate records of its transactions, income, and costs.(What are the functions of accounting?)
 Figuring out if the entity is making money, has enough cash on hand, and is solvent.
The financial statement of a company, which includes a balance sheet and a profit and loss
account, makes it easy to find out how the company is doing financially right now.(What are the
functions of accounting?)

5. Regulations and Ethics

- The regulations of accounting:
Accounting makes it possible for investors and managers to take part, and regulators
compare companies directly. GAAP, which stands for Generally Accepted Accounting
Principles, is what sets the rules for accounting and is used for financial reporting. Most
of the world uses IFRS, which stands for International Financial Reporting Standards.
Companies and accountants use these rules to make financial statements (West 2018).
Accounting regulations are always changing to reflect the needs of an economy that is
growing.

- To be effective, accounting regulations must be backed by ethical conduct. Ethical

conduct is increasingly seen as the ultimate seal of approval for high-quality service and
products. The rules have been written with the express purpose of encouraging moral
conduct.

- Applied ethics describes the accounting practice in which moral principles, ethical
judgments, and the application of this method are all central. This includes both personal
and professional ethics (Lail et al. 2017). Main ethical forces in accounting are helping
to keep the profession at a higher level of professionalism. Thus, ethics investigates
moral principles, human behavior, and attempts to categorize actions as either good or
bad. When it comes to a company's financial processes and transactions, developing an
ethical code has proven to be the most reliable method of ensuring accuracy and
 reliability. Once again, this has an impact on productivity, morale, and employee
relationships, not to mention brand loyalty (Bhasin 2016).

- Compliance with internal control systems that adhere to established standards has been
verified in part thanks to accountants' careful adherence to professional ethics. As a
result, accountants are in a prime position to detect and quantify resource waste, conduct
investigations, and carry out other tasks that can aid in the creation of policies and the
detection of fraud within an organization. When people engage in unethical behavior, it
doesn't hurt their credibility or reputation, but it does hurt their bottom line because
criminal activity is on the rise.
Accounting ethics must be followed.
In order to ensure that management accountants are always acting in an ethical manner,
the IMA has established four guidelines. Competence, privacy, honesty, and
trustworthiness are essential. Accountants' credibility relies on their ability to convey
information in an objective and fair manner, to reveal all material facts, and to reveal any
"delays or deficiencies in information, timeliness, processing, or internal controls in
accordance with organization policy and/or applicable law." A trustworthy accountant is
one who presents information in a balanced and objective manner.
6. Job skills in accounting
- Business Knowledge
Proficient accountants can look at the big picture and see how their work fits into the
organization's overall strategy. They are responsible for maintaining the support of the
company's major stakeholders for the financial strategy. As with any other profession,
they require strong abilities in decision making, strategic thinking, and negotiation. (9
essential skills of an accountant 2022).

- Technological Knowledge
According to Robert Half, it's important for accountants to be proficient in Excel and
have knowledge of big data analysis. To keep their staff informed of industry
developments, many accounting firms finance training and education programs for their
 employees. Robert Half, a staffing agency, says accountants need to have a keen
understanding of business. (9 essential skills of an accountant 2022).

- Communication
When working as an accountant, one must be able to communicate with people from all
over the company. They need to be able to tailor their approach to suit the preferences of
each stakeholder with whom they interact. Experts agree that employees who can
effectively convey their ideas to others will continue to be highly valued by their
employers. (9 essential skills of an accountant 2022).

- Leadership
An accountant must handle multiple stakeholders. They must manage projects, motivate
team members, and show leadership. Accountants must also contribute new ideas to
improve company operations.
When accountants make tough financial decisions, leadership is crucial. Accountants
need confidence to inform stakeholders. They may have to explain why a company must
correct course and reduce budgets for nonfunctioning departments or initiatives. They
should tailor their communication to each stakeholder. Experts say employers value
professionals with strong communication skills. (9 essential skills of an accountant
2022).

- Customer Service
Despite the importance of maintaining a positive outlook and can-do attitude,
accountants should be wary of making unrealistic promises about their ability to meet
strict deadlines. One of the keys to being a good accountant is learning to empathize with
clients. Satisfying a customer's requirements can make or break a business. (9 essential
skills of an accountant 2022).

- Relevant Work Experience

Businesses may seek out accountants who have expertise in fields apart from the norm.
Certified public accountants regularly attend seminars and conferences to expand their
 knowledge in specialized areas of accounting like tax and forensics. Courses in this topic
are available through the American Institute of Certified Public Accountants (AICPA).
(9 essential skills of an accountant 2022).

- Analytical Skills
Accuracy, numerical fluency, and analytical thinking are crucial skills for accountants to
have. To investigate a case, forensic accountants investigate business transactions,
review financial documents, recover assets, and interview witnesses. These experts
might have to testify in court about their findings. They use their analytical prowess to
put together reports detailing monetary wrongdoing. (9 essential skills of an accountant
2022).

- Critical Thinking
Critical thinking is the skill of applying one's knowledge to the resolution of novel
problems. The ability to think critically is a key skill for accountants, as it allows them to
make decisions that are not biased. (9 essential skills of an accountant 2022).

7. Users of Accounting Information

The public, the government, and their agencies, management, employees, creditors, and
lenders all use accounting data. Financial data is used by these individuals for various
purposes:

 Public: Businesses have a number of different effects on the public. For example, if a
business hires locals and uses local suppliers, it can have a big positive effect on the
economy of the community. The public can benefit from financial statements because
they can learn about recent changes and trends that have affected the business's success
and the range of its activities.
 The government and the agencies it runs: The government and its agencies are interested
in how resources are used and, by extension, in business activities. They also need the
 information to make decisions about taxes, keep an eye on business activity, and figure
out things like the GDP and the National Income.
 Management: In order to figure out the firm's short-term and long-term financial health,
management needs information about what the firm does. Accounting information is
needed for management to make a number of decisions, such as setting the selling price
and coming up with other plans. It is also needed to compare how well the business is
doing with other similar businesses in the same industry and to plan for the future in
terms of growth, shrinkage, etc.
 Employees: Both the employees and the groups that represent them are interested in how
stable and profitable their employers are. They are also looking for facts that will help
them decide if the company can pay salaries, offer retirement benefits, and create job
opportunities.
 Creditors: Short-term and long-term creditors need to know if they'll be paid on time to
extend, keep, or limit a company's credit. Short-term and long-term creditors need
information to decide whether to extend, keep, or limit a company's credit. This helps
determine if the company can pay..
 Current Investors: Current investors need accounting information so they can weigh the
pros and cons of their investment and decide whether to buy, hold, or sell their shares.
 Potential Investors: To figure out if they want to buy shares in a business and figure out
what its strengths are, potential investors also need accounting information.
 Customers: Customers are interested in the future of a business, especially if they depend
on it or have worked with it for a long time. Accounting information can help or hurt a
company's reputation with its customers.
 Tax Authorities: Tax authorities need information to figure out how much a business
owes in taxes. Tax authorities sometimes audit the returns that firms file so they can
compare the information on the returns with the supporting accounting records. Tax
authorities also compare the accounting records of suppliers and customers to look for
signs of tax evasion.
 Auditor: To form an audit opinion, auditors look at financial statements and the
accounting records that back them up. Investors and other interested parties depend on
 the independent opinion of external auditors about whether or not financial records are
correct.
8. Current status of the accounting industry in Vietnam
 Current status :

Since there are more people looking for jobs than there are jobs available, competition is
high. To get a job in a business, you need to know the basics, be fluent in foreign
languages, and have "soft skills" for dealing with situations. Companies today all want to
get bigger and bigger, so they are very careful about how they use their human resources.
Every year, companies carry out personnel reforms and are ready to replace old
employees if you do not meet the job requirements while there are many other potential
candidates who are applying for that position. So, accounting is a job that you always
need to learn more about and get better at.

Also, it's clear that this industry is under a lot of pressure. Contrary to the subjective
belief that accounting is an easy job with a high salary, it involves working all day with
large numbers, stacks of records, documents on statistics and explanations, and a lot of
paperwork. One small mistake at work can lead to unexpected results. So the pressure to
be accurate and finish on time is also a big problem. If you don't want to be an accountant
because it's your hobby or passion, it will be hard for you. And the salary for fresh
graduates in this industry is not as ideal as many people think (Thực Trạng Nghề KẾ
Toán Hiện Nay 2020).

8.1. The role of accounting in decision-making:

- IN PLANNING
Planning is crucial for companies to succeed at management tasks.
Accounting data and information are available to a business's management for planning cash,
sales, purchasing, stock levels, growth, profit goals, etc (The role of accounting in Management
Decision Making Process).
- IN ORGANIZATION
Accounting is a very important part of making sure that the organization's main tasks are done
right.
Accounting helps management by giving them information about money, such as the percentage
of profit over capital, the position of capital investments, how well management controls, and so
on (The role of accounting in Management Decision Making Process).
- FOR MOTIVATION
In business, workers need motivation to do their jobs. Money is a major motivator.
Management should know how much money the company has before giving financial benefits to
employees. Accounting gives management money records (The role of accounting in
Management Decision Making Process).
- FOR CO-ORDINATION
Management's main function is coordinating departmental activities. Accounting coordinates
business activity.
Management can adjust purchases to sales, expenses to income, sales to debt receivable, etc (The
role of accounting in Management Decision Making Process).
- IN CONTROL
Management's primary functions are planning and controlling. Controlling is essential for
completing activities on time (The role of accounting in Management Decision Making Process).
- IN BUDGETING
Creating budgets for the different parts of a business is an important part of running a business
organization. Accounting gives the information about the past that is needed to make a budget
(The role of accounting in Management Decision Making Process).
- IN PROFESSIONAL ADVICE
Accounting is a very important part of this, and how well management uses the data and
information that the accountant gives is a big part of how well management works. In developed
countries, accountants are seen as good managers who do their jobs well (The role of accounting
in Management Decision Making Process).
- MANAGEMENT IS UNIVERSAL
Every organization needs accounting. Management needs accounting data. Accounting helps
management plan, organize, control, and budget.
Accounting provides all of an organization's financial and economic information. Management
uses accounting data.
In business, management must make quick decisions. Accounting helps management make
timely business decisions. Accounting is the "Language of Business" because it helps make
decisions (The role of accounting in Management Decision Making Process).
- ACCOUNTING IMPORTANCE MEDIA OF COMMUNICATION
Accounting communicates information from departments, businesses, management plans to
other departments. It is one of the best ways to communicate with management about
purchasing, inventory, time of purchase, cost and selling price. In addition, accountants collect
and distribute business information to related parties. (The role of accounting in Management
Decision Making Process).
Today, as society grows and changes, accounting is becoming more and more important.
Because of this, accountants need to use electronic tools like Excel to help them do their
calculations have to do more and more complicated math

8.2. Accounting system and the role of technology in modern accounting

A set of interrelated accounting procedures governed by consistent standards. The goal of an

organization's accounting system is to keep track of financial transactions, aggregate those
summaries, and report on them so that management can track, evaluate, and better their business.
What's more, an organization's accounting system is the mechanism by which its cash inflows
and outflows are recorded and processed.Saves both time and money
 Boosts financial visibility
 Reducing errors.
 Enhances Asset and Inventory Management
 Provides Real-Time Data
 Improves the Decision-Making Process
 Increases the company's flexibility

8.3. Fraudulence 

Accounting fraud is when financial statements or tax returns are changed on purpose to make
money for an individual or a business. For example, a business might overstate its income,
understate its expenses, overstate its assets, or understate its liabilities. Here are a few examples
of how accounting fraud can happen. A person who commits accounting fraud can be charged
with a crime.

 Type of Fraudulence 

In the history of the United States, there have been many high-profile accounting scandals that
involved four main types of fraud. First, companies can commit accounting fraud by putting all
of their short-term and long-term debts into one big number. This makes it look like the business
has more cash on hand, even though it doesn't. Depreciating costs is another type of accounting
fraud. Officials of a company might change the numbers of how much they spend on things on
purpose to make their profits look bigger. In the same way, over-recording sales revenue growth
is a form of accounting fraud that makes the bottom line look better. Last but not least, one type
of accounting fraud is when shareholders and investors are not told about risky accounting
practices (What is accounting fraud?).

Accounting Fraud Impacts Business

Accounting fraud is one of the most expensive kinds of fraud, and it hurts businesses all over the
world. When financial records have been changed, it's almost impossible to figure out how stable
a company is. The Association of Certified Fraud Examiners (ACFE) says that accounting fraud
costs businesses an average of $2 million per scheme. The manipulation of financial statements
will be bad for the company's shareholders, for businesses that sign contracts with the company,
and for banks that give out loans. There is a chance that investors will pay too much for their
investments and get less for their money than they thought. Accounting fraud can also hurt an
organization's employees if the scandal causes layoffs or the company goes out of business.

III – LO2: EXCEL

1. Cash Budget
- One thing we do for our clients is help them make a cash budget. Putting together
a budget table will help our client's business have a better way to manage its
 income and expenses. As an employee of Vietstar, I'd like to explain in detail a
cash budget that my company put together for a client.

Cash budget
  June July August September October November
Cash receipt  
Cash revenue (1) 6000 7320 8640 9960 15000 15000
Cash revenue (2) 4000 4880 5760 6640
Total cash receipt 6000 7320 12640 14840 20760 21640
Cash payment  
Purchase (3) 33500 10150 11800 13450 19750
Fixed wages and salaries 1200 1200 1200 1200 1200 1200
Variable wages and salaries 640 780,8 921,6 1062,4 1600
Overheads 600 600 600 600 700 700
Equipment 18000 8500
Lease hold 45000  
Motor vehicle 12000  
Total cash payment 76800 35940 12730,8 14521,6 16412,4 31750
Cash surplus (deficit) for the
month -70800 -28620 -90,8 318,4 4347,6 -10110
Openning balance   90000 19200 -9420 -9510,8 -9192,4 -4844,8
Closing balance   19200 -9420 -9510,8 -9192,4 -4844,8 -14954,8
Figure 1: Cash budget for VietStar

The cash budget that our company has developed for our patron from June through November is
depicted in the figure that can be found above. As can be seen, the cash budget is broken down
into its two primary components, namely the cash receipt and cash payment sections. The cash
sales and the amount received both contribute to the total amount of money. There are two
components that make up the money that was received: cash sales accounted for 60% of the
revenue that was received in that month, and credit sales made up 40% of the revenue that was
received 2 months after the product was sold. In the section of the business that deals with cash
 payments, the payables are broken down in detail. These include things like buying things,
paying employees, overhead costs, renting spaces, buying equipment, and driving vehicles.
Various policies will be utilized in the application of each expense. To be more specific, I will
describe each component in greater detail below.
June July August September October November
Sales revenue 10000 12200 14400 16600 25000 25000
Cash sales 6000 7320 8640 9960 15000 15000
Credit sales 4000 4880 5760 6640
Cash receive 6000 7320 12640 14840 20760 2160
Working1: Cash receipt

As I mentioned up top, the cash receipt will be split up into two different accounts: the first
account will contain 60% of the revenue that was earned in the first month, which will be
referred to as cash sales; the second account will contain the remaining 40% of the revenue that
was earned in the second month, which will be referred to as credit sales. Every month, our
customers give us information about their monthly revenue, and from that data, we calculate a
cash receipt table that represents the sum of our cash sales and credit sales for that month.

June July August September October November

Sales revenue 10000 12200 14400 16600 25000 25000
Gross profits (25%) 2500 3050 3600 4150 6250 6250
Cost of goods sold (75%) - 7500 9150 10800 12450 18750
Initial inventory - 25000
Risk inventory - 2000 1000 1000 1000 1000
Purchase - 33500 10150 11800 13450 19750

Working 2: Purchases

In the section about cash payments, "purchases" should be equal to the total amount of inventory
plus the cost of goods sold. The policy said that the gross profit was 25% of the sales revenue,
which means that the cost of goods is 75% of the sales revenue. In the working table at the top,
you can see how much it cost to sell each item. Because the policy says that the first month's
inventory must be bought on one month's credit, the organization must pay £250,000 in July for
the first month's inventory. This policy is like the risk inventory, which costs one thousand
pounds per month. Because of this, the cost of the risk inventory for June is paid in July, and so
on. After figuring out the value of the cost of goods sold, the cost of the initial inventory, and the
risk inventory cost, it's easy to figure out the cost of purchases for each month, which is shown in
the table.

June July August September October November

Sale revenue 10000 12200 14400 16600 25000 25000
Commisions 630 780.8 921.6 1062.4 1600
Working 3: Commisions
In accordance with the policy, salespeople will be responsible for generating 80% of the sales
revenue and will be paid 8% commission on that income; hence, commission will equal 80%
multiplied by 8% multiplied by the number of sales revenue generated. The commission is also
due one month after the transaction is closed, which means that the firm will have to pay the
commission for the month of June in the month of July, and so on.

Fixed wages and salaries amount to £1,200 per month for the business, while the cost of
overheads is £600 per month for the first four months (June to September), and £700 per month
for the remaining months (October and November). According to the policy, payment for both
fees has to be made at the time that they are incurred. The cost of the equipment was paid for
twice, first in June for £18000 and again in November for $8500. The cost of the leased property
and the automobile was $45,000 and $12,000, respectively. Each receives payment once in the
month of June.

After figuring out all of the payables and the total amount that has to be spent, it is simple to
compute the total payments for each month by simply adding up all of the accounts payable for
that particular month. The next step in determining the monthly net profit is to take the total cash
receipts for that month and subtract them from the total cash payments for that month. The cash
balance in the bank at the beginning of June is set at £90,000. Following the addition of the net
profit for the month, the total amount of the company's ending balance in June is £19200. The
closing balance for the month of June is the same as the closing balance for the month of July.
Repeating this procedure allows us to determine the closing amount and opening balance for
each month from June through November, just as our cash budget advised us to do.

 The whole of the data shown in Table 1 reveals that the organization has a large monetary
need. When there is a surplus, it is often just a little amount since there are typically too
many expenditures to pay. As a potential solution, the company may implement new
methods for raising taxes or reduce costs that aren't necessary. In addition, customers
may be eligible for incentives if they are able to pay off their purchases bought with
credit in a shorter amount of time. For instance, the following order will be reduced by 3-
5% if the purchaser pays for all of the goods at once. After that point, it will be able to aid
the company in recovering the cash more rapidly in order to avoid a deficit for that
month, which will speed up the operations of the corporation.

2. Flexible Budget

Production and sales of

Metacloud (units)

Sale revenue (a)

Direct materials
Direct labour
Maintenane
Depreciation
Rent and rates
Other costs
Total cost (b)
Profit (a)-(b)
 Figure 2: Flexible budget

Greenfield plans to make 3,000 units by the end of June 2022. In reality, the company has made
4,500 units, so to compare, you need to make a flexible estimate, adjust it to match the number of
4,500 units, and figure out the difference.

According to the information in the article, direct materials, direct labor, and maintenance are
some of the variable costs in the planned budget. Fixed costs are things like depreciation, rent,
and rates. Fixed costs are costs that don't change over time. Both flexible budgets and planned
budgets have the same fixed costs. The rent and price for the flexible budget add up to £2,000,
and the depreciation is £2,500.

To figure out the variable cost of the flexible budget, we start by taking the variable cost of the
planned budget and dividing it by the number of planned budget units. Next, we multiply that
total by the number of units of the real result. So, the variable costs of flexible budgeting are as
follows: direct materials cost £10,350, direct labor costs £8,100, and maintenance costs £3,825.

The other costs are a fixed cost of £2,000 and a variable cost of £1.2 per unit sold. This
demonstrates how the variable budget's supplementary expenses are computed: by adding the
additional fixed costs, then multiplying the resulting figure by £1.2 and the actual number of
units. For the remaining £7,400, the flexible budget allotment of £2,000 plus (£1.2 x 4,500) is
needed.

With the information we have, we can add up fixed costs, variable costs, and other costs to find
the total cost of a flexible budget. £34,175 is the total amount.
In the next step, we can figure out the difference between the flexible budget and the actual
results, this is called the variance. If the variance is negative, it means that the actual cost is less
than the standard expected cost. This is a good thing. It is bad if the actual cost is more than what
the flexible budget predicted.

When we look at the table, we can see that direct materials, direct labor, and other costs are to
blame for the rise in profit. It also goes down because of things like rent, taxes, and repairs that
are hard to control.

3. Finding solutions to issues raised by budgetary planning and control is essential for
efficient organizational decision-making.

3.1. Benefit

- For as long as the planning stage lasts:

The person in charge of the budget plans ahead to think about and get ready for what is likely to
happen.

Since the budget is used to set goals for the business as a whole, goals have been agreed upon.
These goals are set with the help of upper management to make sure that hard-working
executives can pay their bills. Dedication is also a strong force.

Control stage:

- Good financial management: a business owner can put cash on hand to good use by making
more profitable deals

A budget is used to track performance against plans so that management can see if goals are
being met

3.2 Limit:
When making plans, you must:

Budgeting and planning a budget are expensive because they require getting information from
many different places. The most expensive way to get information is to hire operations research
specialists.

It's hard to make accurate projections of sales and cash flow when there's a lot of uncertainty in
business, especially over the long term

At the top: Budget constraints make it hard for the unit to take advantage of opportunities. They
also make it harder for the unit to adapt to changing conditions and come up with new ideas

- Not getting the results you want: Revenue may be less than expected because of changes in the
time between making a budget and putting it into action.

4. Justify budgetary control solutions and their influence on organizational decision-

making to ensure the efficient and effective deployment of resources.
Both cash budgeting and flexible budgeting have flaws:
- Planning challenge
The problem is that many businesses are too rigid in their adherence to the budget framework
and lack the flexibility to recognize opportunities, thereby missing out on unexpected business
opportunities.
- Problem in control:
In the process of comparing performance to the plan, the exact reason for the negative variance
numbers is not provided; therefore, no corrective action can be taken.
- Corrective measures:
In order to address the first issue, the business must recruit strategy management specialists.
Experts make adaptable decisions in the face of unforeseen circumstances in order to seize and
maximize opportunities.
The solution to the problem of control is to specify which departments and individuals will be
responsible for a given task when developing a leadership plan, and to closely monitor
performance to find accurate solutions.

IV – Conclusion
The above study gave us the chance to do an in-depth analysis of the role of accounting in
guiding decision-making to meet organizational, stakeholder, and societal goals in complex
operational contexts. Using the RSM Company website, this analysis also looked at the
background of accounting and why it is done. After that, we used spreadsheets to make budgets
for planning, controlling, and making decisions. In addition, we looked into the pros and cons of
using a budget and suggested several ways to fix things.
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