Assignment 1b Scenario Essay Example | Topics and Well Written Essays - 750 words

Assignment 1b Scenario - Essay ExampleIn the final section IV, there is some basic information about the pecuniary considerations of our new project.My role in this project forget be to provide the analytical information about the project to the management, which will help the management to ply out their purposes and make plans and strategies for the project. Reporting on different aspects of finance will be provided this reporting will be based on historical entropy taken from fiscal accounting team and also with some research done on similar workings carried out by our organizati0on as comfortably as the competition. Information provided by me will give a birds eye view of project finance to the management. In addition, I will also be providing some extrapolations, suggestions, cost and profitability analysis, so that management is well informed about the trends and realities in project finance, thus helping their decision making on project finance issues. In brief, followin g will be my responsibilities in the project.Though my reporting will primarily based upon the inputs provided from the financial accounting department, research and analysis, yet there is remarkable difference in the activities of financial accounting department and my work. Financial accounting department basically works for information gathering, recording, maintaining and reporting according to the standard ways in a generic manner whereas my role will be to provide the information on specific issues and targeted for management. My role can be differentiated from that of financial accounting team as followsManagement Accounting is the branch of Accounting that deals primarily with private financial reports for the exclusive use of top management within an organization. These reports are prepared utilizing scientific and statistical methods to arrive at certain monetary value which are then used for decision making. Financial Accounting, on the other hand, concentrates on the pr oduction of financial reports,