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A flexible work arrangement (FWA) empowers an employee to choose what time they begin to work, where to work, and when they will stop work. [1] The idea is to help manage work-life balance and benefits of FWA can include reduced employee stress and increased overall job satisfaction. [ 1 ]
Activities can be grouped according to function (work being done) to pursue economies of scale by placing employees with shared skills and knowledge into departments for example human resources, IT, accounting, manufacturing, logistics, and engineering. Functional departmentalization can be used in all types of organizations.
Flextime, also spelled flex-time or flexitime (), is a flexible hours schedule that allows workers to alter their workday and adjust their start and finish times. [1] In contrast to traditional [2] work arrangements that require employees to work a standard 9 a.m. to 5 p.m. day, Flextime typically involves a "core" period of the day during which employees are required to be at work (e.g ...
Nearly 160 accounting execs and partners were asked about why firms were making more auditing errors. The auditors were split on whether a better work-life balance could reduce the number of errors.
This flexibility allows the work content to be adapted as demand or product mix changes. Another Lean approach is to aim to have flexible manufacturing through small production lot sizes since this smooths production. Small lot sizes usually increases transportation waste, but this can be eliminated if machines are back-to-back in a workcell.
5S: describes how to organize a work space for efficiency and effectiveness by identifying and storing the items used, maintaining the area and items, and sustaining the new order; backflush accounting: a product costing approach in which costing is delayed until goods are finished
For example, in the resource consumption accounting approach, resources and their costs are considered as foundational to robust cost modeling and managerial decision support, because an organization’s costs and revenues are all a function of the resources and the individual capacities that produce them."
A function of management accounting in such organizations is to work closely with the IT department to provide IT cost transparency. [15] Given the above, one view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting. [16]