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By Uchenna Ani-Okoye

There are three main functional areas of accounting which need to be considered in modern day accountancy for any business. The three areas are, cost, finance and management accounting.

The first area, financial accounting, is used mainly for ascertaining the results of any such business on a periodic basis, for i.e. 6 months. This should as a result; help the company determine the future course of action, in the long term. From an economic perspective, financial accounting treats money as a factor of production.

Management and cost accounting are apparatus used to help management make decisions on a day to day basis. Management and cost accounting arent useful simply for their own sake. These two functions help management conduct themselves along with other vital factors involved in the running of a business. Other key factors could be supply, demand, competitors, availability of raw materials, logistics etc.

The second area is cost accounting, its primary purpose is to attain the value of direct and indirect costs involved in production. From the value acquired, management can make an informed decision on improvement in production performance. From an economic perspective, cost accounting is the measurement of economic performance. Thus, this information gives management a clearer indication of the performance of the product resources in the business.

Costing also helps the sales manage in setting the correct price. But, because costing is solely a measurement of economic performance, it can not be considered as an accurate basis for setting prices. This is because selling prices is more of an economic decision. It would not be wrong for me to mention that pricing is basically determined by market factors. Prices are influenced mainly by demand, supply and competition, less on costs. For i.e. high demanded plus lack of competition would result in the business charging higher prices for its product, well above the costs.

The third area is management accounting, which is related closely to cost accounting. Although it has essentially evolved from cost accounting, management accounting plays a much broader role in management decisions. It measures the performance, economically, of the whole business, vis–vis the economic environment that the business operates in. This area of accounting, seeks to combine both financial and cost information into a much broader function.

Lastly, management accounting, this area is instrumental in advising and assisting management in making vitally important business decisions. It essentially makes management more self aware of the economic implications and consequences of decisions made. From an economic perspective, it looks at the study of money as an economic resource, while at the same time, treating it as a measure of economic performance. This allows the management to measure it as an economic factor of production, for i.e. the rate of return on capital employment. You can find more information and resource links on accounting by visiting: http://www.insightempire.com/Accountingfordummies/

It is then seen that accounting plays a vital role in three distinct areas, which are equally as important. With the advent of computerised accounting, it has made it much easy for management to monitor the accounting information. Financial accounting software, allows you to make financial statements and various cost and MIS statements almost instantly with just one push of a button, the only laborious aspect of accounting is data entry. A financial manager must bring it upon himself or herself to make sure that meaningful data is input into the system. Proper categorisation must be done and all key based errors avoided, in order to ensure management is receiving accurate financial information.

About the Author: Uchenna Ani-Okoye is an internet marketing advisor and co founder of

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For more information and resource links on accounting visit:

Accounting For Dummies

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Choosing Bedroom Furniture: Comfort, Storage or Style?

by

Pete Nisbet

When people are choosing bedroom furniture, two of their main criteria are comfort and style – in that order. People generally associate bedrooms with comfort, and although storage is also very important from a practical point of view, it tends to play second fiddle to style. Ask anyone – \”should your bedroom be comfortable, stylish or an effective storeroom?\” and we all know what the answer will be.

Ask then to place these three in a particular order, and it will likely be as presented above. However, once they start using the bedroom, storage will likely be highest on their complaints list, even though that was the last on their minds when furnishing it. But not you, because you are more intelligent and discerning, and understand that of all the rooms in your home, the bedroom is where most of the storage is needed.

Teenagers are Different!

In saying that, a lot depends upon age and gender: young adult males will likely need lots of spare floor space for storage and very little else. Until they get a girl friend – and then it all changes to comfort and style with beautiful hi-fi units and fat-screen TV stands. But young men are a race apart as any parents know, so we shall restrict ourselves here to conventional bedroom furniture and ignore the principles of this paragraph.

So back to normality and leave the teenagers to their own devices – except the girls of course, because everybody knows that young teenage women have perfect taste and style. In furnishing a bedroom you have specific types of bedroom furniture: sleeping and storage.

Choosing Bedroom Furniture – The Bed

Among the former are traditional beds: single, twin, queen size and king size being the most popular sizes, and you can add to that bunk beds and sofa beds for casual visitors. It is not possible here to describe the beautiful styles of bed available, but mention must be made of the fabulous Spanish Bay design by Homelegance, with raised ash burl veneered panels and antique brass hardware. Beautiful carvings are featured on each piece, including the magnificent dark cherry-veneered headboards on the post bed.

This is a fabulous traditional European romance style, but if you prefer something different a black Broyhill \’Perspective\’ bed offers a stylish ultra-modern design with geometric silhouettes. You may prefer something lighter, such as the white painted woodwork of Paula Deen Home furniture. Or how about a traditional bed by Signature, such as their Wyatt king bed with a scrolled metal headboard and footboard.

When choosing the mattress, regard that as separate from the bed, and select a mattress that meets your personal needs, and those of your partner. That choice is beyond the scope of this article.

Storage in the Bedroom

These firms above are all well known American brands that offer the storage bedroom furniture to match the beds. As hinted above, storage is critical in a bedroom, and if you are the guy in your mixed relationship and ignore bedroom storage then you may be looking for another bed in the spare room! If you have no spare room, then join the dog!

An armoire or two is essential if you have no bedroom closet, and you will never have enough drawers. You may have had some foresight and included drawers with your bed, but you will still likely need a full chest of drawers and perhaps also a lingerie chest. Don\’t forget the dresser – that is essential for any woman and is something that most single men forget about. That will soon change (you hope!).

You will need a nightstand for each person for lamps, books, drinks and so on. Choose the height carefully, since it should be no lower than the height of the mattress – maybe two or three inches higher at most. Most beds, including those mentioned above, offer matching nightstands.

Women and Their Dressers

Dressers are best with mixed drawer sizes, and a lovely large clear glass mirror. Most women prefer to sit at their dresser rather than stand, so make sure it has a matching chair or stool. A matching ottoman would also be appropriate, offering further storage space beneath a lift-up seat. Although some now have drawers, you lose a lot of the storage space for large and bulky items by having drawers in your ottoman.

When choosing an armoire, make sure it is high enough to hold your coats and dresses without them touching the bottom. It should have space for suits, shirts, dresses, coats, ties and so on – in fact many purchase a \’hers\’ and a \’his\’. No prizes for guessing who needs the biggest! Make sure that at least one of these has a full-length mirror, unless you have one attached to your bedroom wall.

Choosing bedroom furniture is not difficult, but keep clear of the comfort, storage or style argument by taking comfort as a separate entity. Regard the bed as most important, but also take it that you will need lots of storage space. If you are a single guy it will all likely change eventually anyway.

When choosing

Bedroom furniture in Atlanta

visit the Woodstock Furniture Outlet in Atlanta, Georgia. Their website offers an excellent choice of

bedroom furniture in Atlanta

to match any d cor and meet all of your needs.

Article Source:

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