Case Study on Rmg Sector
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FINANCIAL INFORMATOION IN DECISION MAKING
Q1Explain the key difference bw financial accounting and management accounting.
ANS:Financial accounting defines the balances and accounts that a business praduce.While management accounting use for future forecasting and helps in decision making.
Q2Outline the different types of decisions made in a business.What do you think is most important and why?
ANS:There are three types of decision making in the business.
Strategic decision is the most important because it defines the direction of the business,rovides opportunities to increase the growth of the business and decide the position of the business in the market.
Q3Explain what is meant my a “ratio”.Explain the purpose of the main ratios used by the businesses.
ANS:Ratio means the relation bw two similar magnitudes.The main purpose of the ratio in the business is to estimate official value of the performance of the business.Main ratios of the business are
1.Efficiency or activity ratios:
Show that the company is able to pay any debt.
Define long-term financial position of the business.It defines how can we take loans and what will be the interest rate.How much shareholder can share in the business?
3.Profit or Perfornamce Ratio:
Show the current positin of the business, defines how best the business is going and how much profit we gain
AnonymousOct 25, 2010 10:45 PM
CASE: MANAGING WORKFORCE REQUIREMENTS
NAME: MOHAMMAD ARSALAN BEHLEEM
SUBMITTED TO: FAHAD ALI RAZA
DATE: 8th October 2010
Q1. Describe the purpose of workforce planning.
ANSWER.Process of anticipating a firms future staffing needs and then making a plan to fulfill them. The specific goals that
firms or individuals seek to achieve. Workforce planning is all about getting the right number of
people with the right skills, in