Nobody downloaded yet

Smith's Accounting and Tax Service-Can Amanda Turn Her New Business Around - Assignment Example

Comments (0) Cite this document
Summary
This case revolves around the character named Amanda Smith who has the accounting degree, passed CPA exam at the very fast attempt and has six years experience of working in an accounting firm. Her technical skills were strong and have been undertaking management responsibilities for two to three years in tax and audit services. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.1% of users find it useful
Smiths Accounting and Tax Service-Can Amanda Turn Her New Business Around
Read TextPreview

Extract of sample "Smith's Accounting and Tax Service-Can Amanda Turn Her New Business Around"

Download file to see previous pages Factors like ethics, global competitiveness and environment are the factors that are seen to influence how the mangers perform the four functions. Planning Planning is the process of identifying the organizational goals for future performances and then decides on the task and the resources required accomplishing these goals. In simple terms planning says the manger regarding what the organization wants to achieve in future and how they can achieve that. Planning also specifies when and how the task should be performed. Managers are seen to exactly outline what to achieve and how to achieve. By this the managers are not only concern with the success of the organization in achieving long term goals but also short term goals as well (Agarwal, 2008). In this case Amanda has committed the mistake of not planning how she will be running the business. She even failed to plan how she would run the business if it is undergoing through crisis. Lisa was recruited not on the basis of her experience or qualification; she was recruited simply because of her acquaintances with Amanda. This shows that Amanda was totally unprepared for the business; otherwise she would have followed proper recruitment processes. Amanda developed the mission and vision of her company after the business has been already started. The target market was even chosen by Amanda after starting the business. Both the things need to be done prior to starting the business. Moreover she even did not plan any thing for the slack period that her business will be facing. When the slack period commenced, she started wondering about she will be paying her employees and eventually end up into losing them. Moreover she was taking...
The four management functions are very important for the managers to follow in order to make the organization achieve its goals. If any of the four functions are not implemented by the manager then it creates a huge negative impact on the performance of the business. In this case, though Amanda has huge experience in auditing and taxation but was incapable of implementing the four function of management. She tried to do a lot of things and even done some of them but all at a wrong time. • She should now first plan how she would be running the business, where she needs to also focus on some provision in case if the business fails to achieve its expected results. Recruit a human resource manager and an operational manager who will be looking the recruitment and day to day operations respectively. Amanda should engage herself more proactively regarding monitoring the performance and assessing them so that feedbacks related to necessary correction can be provided. Proper flow of information regarding the goals of the organization should be ensured.
...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Smith's Accounting and Tax Service-Can Amanda Turn Her New Business Assignment”, n.d.)
Smith's Accounting and Tax Service-Can Amanda Turn Her New Business Assignment. Retrieved from https://studentshare.org/management/1483921-smiths-accounting-and-tax-service-can-amanda-turn-her-new-business-around
(Smith'S Accounting and Tax Service-Can Amanda Turn Her New Business Assignment)
Smith'S Accounting and Tax Service-Can Amanda Turn Her New Business Assignment. https://studentshare.org/management/1483921-smiths-accounting-and-tax-service-can-amanda-turn-her-new-business-around.
“Smith'S Accounting and Tax Service-Can Amanda Turn Her New Business Assignment”, n.d. https://studentshare.org/management/1483921-smiths-accounting-and-tax-service-can-amanda-turn-her-new-business-around.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Smith's Accounting and Tax Service-Can Amanda Turn Her New Business Around

Tax Law & Accounting

...are the primary defense against tax avoidance and tax evasion. In terms of legality, tax avoidance is considered to be one but tax evasion is illegal. References Daunton, M. (2001). Trusting Leviathan: the politics of taxation in Britain, 1799-1914. New York, NY: Cambridge University Press. Herrmann, D. V. (2002). The big gamble: the politics of lottery and casino expansion. Westport, CT: Greenwood Publishing Group. Meek, G. K. (2004). Developments in country studies in international accounting: Americas and the far east, Vol. 3. California: Edward Elgar Publishing. Rath, S. (2008). Tax evasion and trust...
4 Pages(1000 words)Research Paper

Smith's Accounting Tax & Service Case Study

...that this function is essential to make sure that the business is running along the predetermined path. Moreover, it would enable the management team to successfully enter into the next phase of planning. Recommendations to Amanda (1)Although you (Amanda) had established an effective mission statement, you failed to develop and share it in an appropriate way. It seems that you have not tried to pass her visions and goals on to your new employees. For the profitable running of Smith’s Accounting and Tax Service, Amanda’s employees must be well aware of the firm’s ultimate...
3 Pages(750 words)Case Study

Final Project Case: Smith's Accounting and Tax Service: Can Amanda Turn Her New Business Around Before It Is Too Late

...? Final Project Case: Smith's Accounting and Tax Service: Can Amanda Turn Her New Business Around Before It Is Too Late? To, 09.03 The Smith's Accounting and Tax Service, Dear Amanda, Subject: Recommendations for Improving Management I have studied your case and on the basis of my analysis, I sense that you need to enhance the managerial functions in your organization. In a nutshell, all organizations irrespective of their size must develop and apply the four managerial functions (planning, organizing, directing and controlling) in order to run the business efficiently and achieve the objectives. These functions facilitate to make appropriate strategic decisions. With the aid of these four functions, you can utilize the resources... is not...
4 Pages(1000 words)Case Study

Goods & Service Tax

...to for the "car", which has the meaning given by section 995-1 of the ITAA 1997, during the year that it held the car is: $1000 - $200, which is equal to $800. There is a new regulation in place, as a result of the announcement made by the Government in the 2007-08 Federal Budget, of various steps taken to enable small businesses to have more flexibility and a less complicated taxation system. Due to the regulation, a GST registered entity can to claim GST credits for purchases with any GST-inclusive amount of $82.50 or less, without having to hold a recognized tax invoice. Previously, the threshold for this was $55, and the documentation needed for income...
2 Pages(500 words)Case Study

Tax Law & Accounting

...a serious matter, as if one is audited by the government and one does not have the proper information which suffices to satisfy the government's requirements, there may be consequences which the person or company will have to face. This can be quite frustrating, as no person or company wants to be portrayed in the popular press or among their friends as not having paid the proper amount of taxes, for example. It is helpful that the FASAB released a statement on auditing, therefore, because this will signal to accountants that doctoring the books will not be tolerated. This also serves as another industry standard within accounting to be feared and revered. The clause...
4 Pages(1000 words)Essay

Main plans to turn Motorola around

...YOUR FULL YOUR Main Plans to Turn Motorola Around Mike S. Zafirovski has stepped down from his position as President and COO of Motorola (Haley 1). This move is of great concern to the management, investors, and customers of Motorola, as Zafirovski was a key reason why Motorola had reversed its trend of operational losses and returned to profitability (Crockett and Reinhardt, 58). Two questions are posed herein for discussion: What strategies did Zafirovski adopt to turn the company around, and if I was a board member of Motorola, how would I find a successor and once that person was in place, would I retain Zafirovski's plans. Zafirovski, a seasoned...
3 Pages(750 words)Essay

Income tax accounting

...The Earned Income Tax Credit (EITC) is a refundable federal income tax credit for low-income working individuals and families (Internal Revenue Service, n.d.). Families with qualifying children can receive much more EITC than single workers who do not have any children. For tax year 2005, the maximum amount of EITC a qualifying worker with one child can receive is $2,662. For two or more children under one's care, the maximum amount is $4,400. For workers with no children, the maximum amount of EITC is only $399 (Tax Credit Resources, n.d.). According to the Internal Revenue Service (2005), a...
2 Pages(500 words)Essay

Tax accounting

...not get married on the advised date they will fall in to single filing status and thus being entitled to a higher tax brackets than by getting married and filing jointly. Filing jointly offers them excessive tax benefits when compared to single filing status. Determine the amount of the taxable income that should be reported by a cash basis taxpayer in 2008 in each of the following independent cases. a) A taxpayer completes $500 of accounting services in December 2008 for a client who pays for the accounting work in January 2009. b) A taxpayer is in the business of renting computers on short term basis. On December 1, 2008, she rents a...
5 Pages(1250 words)Essay

Tax Accounting Questions. Assignments

...occurs mostly in income taxes but can also be observed in state sales taxes and employment taxes. For example, a taxpayer, whether individual or business entity can misrepresent the income to reduce tax liability by intentionally declaring lower income, gains or profits, or overstating the deductions. Such practice is a crime and is monitored by IRS to ensure it doesn’t occur by imposing penalties and fines. Many people consider tax avoidance and tax evasion the same thing but both are very different. For example, reinvestment of capital gains proceeds from old real estate in a...
12 Pages(3000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Smith's Accounting and Tax Service-Can Amanda Turn Her New Business Around for FREE!

Contact Us