Comparative analysis of budgeting in the Slovene hotel industry

2011 ◽  
Vol 17 (1) ◽  
pp. 91-100
Author(s):  
Gordana Ivankovič ◽  
Mateja Jerman
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Management Accounting ◽  
Hotel Industry ◽  
Decision Makers ◽  
Business Strategies ◽  
Short Term ◽  
Strategic Management Accounting ◽  
Standard Cost

The main purpose of the presented research was to investigate whether Slovene hotels that have a business strategy and strategic management accounting are more successful in comparison with those that still do not have a long-term business strategy and strategic management accounting.Hotels that have a business strategy and strategic management accounting are expected to be more successful in comparison with those that still do not have a long-term business strategy. Questionnaires were distributed to the management of selected Slovene hotels. The Slovene budgeting practices were assessed in Slovene large hotels, which have more than 100 rooms. The analysis was performed at the beginning of the years 2004 and 2008, respectively. Budgeting practices in Slovene hotels were assessed by analyzing the extent to which managers used strategic management accounting and the extent to which business strategies were implemented. The analysis provides evidence that hotels with a long-term business strategy are more successful than those that that have a short-term strategy, or are even without one. Although an improvement in the field of continuous budgeting in the five-year period can be ascertained, only a minority of Slovene hotels uses standard cost as a basis for budgeting. This was the first study that ascertained discrepancies between Slovenian budgeting practice and foreign best practices, which is undoubtedly of great interest for decision-makers on the level of individual hotel.

scholarly journals Strategic Management of Small Enterprises in Commune of Peja

2016 ◽  
Vol 5 (1) ◽  
pp. 153
Author(s):  
Ardian Berisha ◽  
Samir Lleshi
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Small Enterprises ◽  
Financial Indicators ◽  
Positive Relation ◽  
Short Term ◽  
Correlative Analysis ◽  
The City

This research is realized in city of Peja, a city in the western part of Republic of Kosovo. In this research are included 40 small enterprises (27 in the center of the city and 13 in the periphery). From them 37 enterprises were established from familiar-individual capital, whereas only three enterprises were corporations. This research is led from two correlation hypotheses .The first hypothesis of this research is:”Strategic management has a positive relation with the empowering of the short-term and long-term objectives of the small enterprises”, is made correlative analysis and we have the statistical production [r= .502**, p smaller than .001], which supports the first hypothesis. Thus a genuine strategic management affects in the empowering and the reflection of the short-term and long-term objectives of small enterprises. The second hypothesis of this research was;”Business strategy affects in the rise of financial indicators”, is made the correlative analysis and we have this statistical production [r= -.220, p smaller than .172, a result that is not significant and it does not support the second hypothesis of this research.

CURRENT ISSUES OF APPLYING THE CONCEPT OF COST MANAGEMENT IN STRATEGIC MANAGEMENT ACCOUNTING

2021 ◽  
pp. 36-42
Author(s):  
Y. A. Kotlova
Keyword(s):  
Strategic Management ◽  
Balanced Scorecard ◽  
Cost Management ◽  
Management Accounting ◽  
Management Tool ◽  
Effective Management ◽  
Economic Entity ◽  
Controlling System ◽  
Strategic Management Accounting

The article substantiates the need to focus not on the immediate profit, but on the long-term value of the economic entity in the framework of the implementation of controlling system and management accounting balanced scorecard, as an effective management tool for the sustainability of the economic entity

The Effects of the Strategy and Goal on Business Performance as Mediated by Management Accounting Systems

Economies ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 149
Author(s):  
Nimnual Visedsun ◽  
Kanitsorn Terdpaopong
Keyword(s):  
Strategic Management ◽  
Financial Performance ◽  
Organizational Performance ◽  
Management Accounting ◽  
Business Strategies ◽  
Accounting Systems ◽  
Corporate Strategies ◽  
Management Accounting Systems ◽  
Business Goals ◽  
Strategic Management Accounting

Previous research in the literature often investigated the associations between management accounting systems and the success of organizations. However, little has been done in regard to the association of business strategies, goals, and firms’ performance while having management accounting tools as mediators. Management accounting systems are classified as traditional and strategic management accounting themes. Each theme, of course, implements different accounting tools. This article explores the degree to which, as mediated by management accounting systems, the business strategies and business goals of large Thai manufacturing companies influence their financial and non-financial performance. To gather the data, a survey questionnaire was developed. Of the 1500 companies selected for inclusion in the survey, 205 provided completed and usable responses for a response rate of 13.67%. Structural equation modeling (SEM) was used to analyze the relationships among the variables. The findings shed some light on what the management of a firm could expect concerning organizational performance from their business strategies, business goals, and the implementation of specific management accounting systems. Corporate strategies and corporate goals had a statistical influence on both the financial and non-financial performance of the large corporations in Thailand when mediated via strategic management accounting systems, while there was no influence when mediated by traditional management accounting systems. A greater understanding of the relationships and effects of which mediators should have been employed in organizations to bring forth business strategies and business goals and generate productive results for organizational performance is provided by this research. Choosing the appropriate performance mediators can help achieve corporate strategies and goals.

scholarly journals Assessing Strategic Management Accounting Practices in Public Interest Companies in Malaysia

2020 ◽  
Vol 2 (1) ◽  
pp. 13-25
Author(s):  
Nik Herda Nik Abdullah
Keyword(s):  
Economic Growth ◽  
Strategic Management ◽  
Public Interest ◽  
Business Performance ◽  
Management Accounting ◽  
Strategic Management Accounting ◽  
Long Term Performance ◽  
Term Performance

Strategic management accounting (SMA) practices play important roles in supporting decision making and strategic plan positioning in a firm. SMA practices comprise a range of useful and relevant techniques to facilitate a firm’s value.  Through these techniques, a firm would be able to achieve competitive advantage and sustain economic growth, which leads to long-term performance. Recently, the role of SMA techniques in enhancing business performance has become the focus of many studies, unfortunately, studies that accessing the adoption of SMA practices in organizations particularly in Malaysia are not widely available. Hence, the purpose of this paper is to investigate the extent of SMA practices in public interest companies in Malaysia called Government Linked Companies (GLCs). Through SPSS analysis of data collected from 215 questionnaires, the study shows that top management of GLCs has a better understanding of SMA practices due to extensive use of SMA techniques which discovered from the findings and believe that it can benefit their organization. This paper has enriched the literature and provided an assessment of SMA practices for researchers and practitioners which can improve competitiveness in the industry, business prosperity, and secure long-term performance.

scholarly journals Research on the Awareness and Application of Strategic Management Accounting Instruments in Lithuanian Companies

2021 ◽  
pp. 1
Author(s):  
Kamilė Medeckytė ◽  
Daiva Tamulevičienė
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Product Life Cycle ◽  
Management Accounting ◽  
Customer Profitability ◽  
Strategic Pricing ◽  
Profitability Analysis ◽  
Strategic Management Accounting ◽  
Time Required ◽  
Position Monitoring

In recent decades, as the newly created internal and external environment conditions have radically changed the environment of business, the process of creating and implementing business strategy became more relevant. The data, generated by strategic management accounting, makes this process more efficient. The article examines the concept of the strategic management, its importance and related instruments. The article provides results of the research carried out to determine the level of awareness and application of strategic management accounting instruments in Lithuanian companies. Empirical research has shown that the level of awareness and application of the strategic management accounting instruments in Lithuanian companies is minor. The most common strategic management accounting instruments are as follows: customer profitability analysis, benchmarking, competitive position monitoring, strategic pricing, and strategic costing. The least known and, according to the research, the least applicable strategic management accounting instruments are: attribute costing, product life cycle accounting and brand value budgeting. According to the study, the most significant reason for the difficulties in implementing strategic management accounting instruments is the lack of time required to implement the instruments.

scholarly journals DOES THE USE OF STRATEGIC MANAGEMENT ACCOUNTING TECHNIQUES CREATES AND SUSTAINS COMPETITIVE ADVANTAGE? SOME EMPIRICAL EVIDENCE

10.26458/1923 ◽  
2019 ◽  
Vol 19 (2) ◽  
pp. 61-92 ◽  
Author(s):  
Babajide OYEWO ◽  
Solabomi AJIBOLADE
Keyword(s):  
Strategic Management ◽  
Competitive Advantage ◽  
Manufacturing Sector ◽  
Management Accounting ◽  
Annual Reports ◽  
Chi Square ◽  
Strategic Management Accounting ◽  
Chi Square Test ◽  
Cross Tabulation

This study examined the extent to which the usage of strategic management accounting (SMA) techniques such as customer accounting and competitor accounting can create and sustain competitive advantage, with a focus on the manufacturing sector in Nigeria. Data obtained from the annual reports of fifty-six (56) publicly-quoted companies covering a 10-year period (2008-2017) were analysed using descriptive statistics, cluster analysis, cross tabulation, Chi-square test of association, and discriminant analysis. Whereas the frequency of high-adopters of customer-based and competitor-focused techniques was less than those of low-adopters, the adoption rate of SMA was noted to be generally moderate. Further, the usage of SMA positively and significantly impact competitive advantage. The observation that intense users of SMA were able to consistently outperform competitors at both the industry- and sector- level in the long-term supports the conclusion that to a large extent, SMA usage can both create and sustain competitive advantage. Seeing that it is not the mere adoption of SMA that sustains competitive advantage but its intense usage, organisations seeking strategies to improve their competitiveness may consider the rigorous application of SMA.  

Developing the adaptive process-based budgeting through TD-ABC and TD-ABB as part of strategic management accounting

2020 ◽  
Vol 23 (10) ◽  
pp. 1182-1194
Author(s):  
A.A. Akhmetzyanov ◽  
A.Yu. Sokolov
Keyword(s):  
Strategic Management ◽  
Cost Allocation ◽  
Management Accounting ◽  
Practical Significance ◽  
Common Time ◽  
Strategic Management Accounting ◽  
Scientific Papers ◽  
The Subject ◽  
The Common ◽  
The Cost

Subject. The article focuses on the advanced time-driven tools for allocating overhead expenses, which are based on process-based budgeting. Objectives. We articulate a technique for cost allocation so as to assess the cost of each process with reference to the common time driver. Methods. The study relies upon methods of systematization, classification, analogy and comparison, and summarizes the scientific literature on the subject. Results. The article presents our own suggestions on implementing TD-ABC and TD-ABB into the strategic management accounting process of developer companies. The principles were proved to help more effectively allocate overhead expenses and assess the capacity load of each process performed by functions, departments and employees. Carrying out a comparative analysis, we found certain reserves for utilizing resources more effectively. Conclusions and Relevance. The findings are of scientific and practical significance and can be used by developer and construction businesses. The conclusions can prove helpful for scientific papers, student books, and further research.

Perencanaan Strategi TIK Proses Belajar Mengajar di Learning Center

2017 ◽  
Vol 8 (1) ◽  
pp. 22-28
Author(s):  
Sunardi Sunardi ◽  
Dina Fitria Murad
Keyword(s):  
Process Improvement ◽  
Business Strategy ◽  
Educational Institution ◽  
Learning Center ◽  
Language Training ◽  
Short Term ◽  
Participant Satisfaction ◽  
Strategy Planning ◽  
The Moment

BINUS Center is the informal educational institution that organizes IT and language training. Inrecent years the revenue BINUS Center continues to decrease, it is evident from the outlet  BINUS Center decreased from year to year. The purpose of making this research is to make strategy planning Business & ICT, create new models of learning supported by ICT strategy,test and measure the results obtained, and then made some strategic ideas at the moment and will come in the form of short-term priorities, medium and long term. The result is a cost that can be in the efficiency, a more flexible, first-class runs with a minimal number of participants, participant satisfaction, and competitive advantage.  Keywords: business strategy, ICT strategy, business process improvement, priority.

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