Carmen's Secret Blog

Time's up and I met my boyfriend at MacDonald and we having lunch together. Thanks my photographer. My outfit of today. GOOD NIGHT    

what is task of finance? 

we have 4 task . First, Financial planning. Once again repeating, we need to have a planning but will be more focus to Budgeting planning to control your expenses. Next, Financial control just as a watch dog to secure which entertainment bill from employee is not supported. Having a good financial control just have a good profit. Third one is the financial and capital market operation and this is involve two role are provider and borrower. Where we need to gain more money for our employee. we can gain from our provider that provide money for us but we also need to return interest or dividend  for them. Last is talking about investment project appraisal and we select by using some technical. 

After that is my second tutorial class "Cost and Management accounting" Cost accounting and Management accounting is actually different subject and I taking Management accounting but cost accounting is a part of Management accounting. Therefore this subject will related with cost accounting. First, We also need to have planning and sure must have acting and controlling and last is feedback by customer. Cost and Management accounting is not only for manufacturing and also for services like hospital, college, transport and airline. The report is only within a firm is different with financial accounting because financial accounting is doing for public use. So, the related area is cost analysis and cos ascertainment because we should control something it may change easily. Example, Every manufacture should have staff but we can interview the staff that an energy can work for 3 staff job. Next, Planning and control and divided into two group. one is control budget and another one is standard budget. CMA system having cost of producing a litre of paint. This is use the cost to set the selling price and calculate for inventory and profit. Next will be continues is amount of  spend salary on marketing department and we can control the salary . Worst still, we need to comparative cost of refuse (garbage) collection by own staff and contractor. After we done the collection we can set target and motivate .The last one is expected cost of starting a second shift and then there are need long and short term planning.

Definition of cost accounting is tracking, recording and analyzing associate with activities. Furthermore, Management accounting is for identification,measuring,preparation, accumulating, analysis,interpretation and communication . we also need to do a report for agencies, tax authorities and shareholder, creditor. What function is? It is for meet target ( Strategies planning), (budget/profit controlling) ,(Internal Audit and External Audit) and Record financial accounting and cost accounting and also bring the result . So what is the different of Management accounting and Financial accounting. keyword is highlight on Legal requirement. Management accounting is optional requirement and financial accounting is Statutory Requirement. Next should be understand is Precision is Management acc is just for approximation and financial should be reasonable accurately. Then, Time dimension of management acc is focus on future and financial is focus on past and compare with history report. In addition, the report frequently is report anytime but fo financial acc is annually or bi-annually. The segment of both of them is focus on small part and financial acc is focus as whole and at the end is accepted account principle. Management acc can use the most useful acc rule and financial should be follow acc principle. 

In my 4th semester, most of my classmate go for work with part time or promoter. Why study is already not important for them? 

I very confuse. I don't know whether is earn money is more important than study or... I kept thinking while I settle down. At the end, I think I should focus in my study because NOW is not a right timing to earn money. We should start to earn money after we graduate or semester break. Parents invest in our education . Although for them, it is a high risk but they also hope we can study hard to gain more knowledge and get a good result or them as a return. 

In started , I understand in well because my lecturer taught slowly even explain with clear . In this few day I recently doing revision with my International Business for my phase test coming soon on  17th Nov . What I study is the MNE . Actually what is MNE? MNE is Multinational Enterprise. There is set up a factory in one country but have other operation in other country such as MCD , Tesco , Toyota , and Toshiba. MNE got affiliates - staff of MNE . They need to make a report for MNE about the environmental , financial , number of worker and government . MNE also need to draw on common pool to provide access including assets , trademarks , patents . MNE is set up a wholly-owned subsidiary in last stage . How MNE become FDI is using Internationalization process .This process is standard to produce a product in foreign market .