Reporting Practices and Ethnics Paper

Reporting Practices and Ethnics Paper

The four functions of management have five functions; planning, organizing, staffing, directing, and controlling. Each of these functions brings together into one another and affects each performance of the other functions. The first function is planning, and this function deals with the costs of the future and the action of deciding the directions of the actions for the goals achievement. Planning, is deciding what to do, when to do, and how to do. A plan for the future in a course of actions and with the problem solving and decision-making. The planning function is important to make sure that all of the activity is pervasive and helps avoid any confusion.

Organizing is the process that brings any of the resources together when developing the organizational goals. When organization occurs the business organizes provides with everything that will be useful with any materials. Some of the process of organizing involves the activities, grouping, assignments, creation of responsibilities, and the relationships between the responsibilities.

Staffing is the process that brings the organized structure and keeps it well maintained. Staffing has a greater importance because of the technologies. The main purposes are to keep the right person at the right job. A function of the management involves many responsibilities in the structure of the selections and development to fill each important role. Staffing involves workforce, selection and, placement, training and development, performance and transfers.

Directing is the process in which each method works efficiently for the best achievement for issues for the organization. It is also considered to set with motion the action of people because of the planning, organizing, and staffing are to prepare for doing the work. With the right direction of management, which influences for each goals and for each elements they provide the supervision, which watches, and motivates the type of work. Motivation is to provide a positive encouragement of work. Leadership is the process by the manager who guides others to work in the correct direction. In addition, communication is the process to understand information from one person to another.

Controlling is the process of accomplishment that the standards and corrections to make sure everyone understand the goals. The purpose of the controlling to make sure that everything follows the standards. Controlling is the measurement and the correction of the performance to make and to make sure that the objectives and the plans to obtain. Controlling does have a few steps to following, which are to establish the performance, measurements of the performance, findings of the performance, and the action corrected.

There are certain guidelines and procedures that are accepted accounting principles (GAAP). GAAP is legal standards and are accepted in the financial records. GAAP covers information including balancing sheets and the outstanding measurements. GAAP is used for the general information. All information is obtained at any period anything that is reported is noted in all of the statements. The procedures and results must be ensured with the businesses in the financial records. If the records are not trusting then they are based on the subjective information and they will be dismissed.

Generally accepted accounting principles (GAAP), has a range of principles such as financial records should be separate and well maintained for each entity. The entities such as business, governments, churches, or any other social organizations. In most cases, GAAP requires that the accrual basis accounting then the cash accounting. Because it will allow financial aspects of each economic event of a certain period where it had occurred no matter of the changes in the cash amount.

For many companies