Hey guys,
It would be nice if this question would be answered by a person who has studied responsibility accounting. Anyway, its open to everyone.
Here's the case:
In 1975 New York barely avoided bankruptcy. By the late 1980s it had one of the most sophisticated budgeting and reporting systems of any municipality, and its budgetary problems had nearly disappeared. The Integrated Fianacial Management System (IFMS) "clearly identifies managers in line agencies, and correlates allocations and expenditures with organizational structure...... In addition, managers have more time to take corrective measures when variances between budgeted and actual expenditures start to develop."
discuss how a responsibility accounting system such as IFMS can help manage a municipality such as New York City.
Looking for correct and authentic answers.
It would be nice if this question would be answered by a person who has studied responsibility accounting. Anyway, its open to everyone.
Here's the case:
In 1975 New York barely avoided bankruptcy. By the late 1980s it had one of the most sophisticated budgeting and reporting systems of any municipality, and its budgetary problems had nearly disappeared. The Integrated Fianacial Management System (IFMS) "clearly identifies managers in line agencies, and correlates allocations and expenditures with organizational structure...... In addition, managers have more time to take corrective measures when variances between budgeted and actual expenditures start to develop."
discuss how a responsibility accounting system such as IFMS can help manage a municipality such as New York City.
Looking for correct and authentic answers.
