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    ACC302: Strategic Management Accounting: Case Study

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    Refer to the website of Philips:https://www.results.philips.com/publications/ar16#/ Write a report addressing the following questions :1. Outline the long-term goals of Philips and define the groups of stakeholders or clients for Philips. 2. Choose suitable perspectives that could be used as part of a balanced scorecard and develop specific objectives for each perspective. 3. Develop a strategy map to show the relationships between the different objectives. 4. Indicate KPI’s and KPD’s (lead and lag indicators) 5. Based on the academic/professional literature, provid...

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    Executive Summary

    This report will study in detail about the electronics giant Philips and its working in the current times. This report will focus on understanding the long term goals of Phillips and how can the strategies be formulated in order to achieve these organizational goals in the longer run. The report will also discuss all the motivational factors and approaches which are used with the employees in order to bring out the best in them. In this report, we will also discuss all the relevant KPI and KPD which are associated with the specific job role and how they are important.

    Introduction

    Phillips is the second name to innovation in technology which has been made affordable to the masses in a simple way. The company has been functioning in popularising and modifying products of daily use by making them entirely new in order to provide with the added benefits for the money spent on them.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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