Collective bargaining Term Paper Example | Topics and Well Written Essays - 3000 words

Collective bargaining - Term Paper Example However, in the modern era of 21st century, he is well informed about his rights. Some researchers are of the view that, the legislation of collective bargaining has adversely affected the efficiency of the organization in America; because of this reason, China and other surrounding countries have a cost advantage due to their economical labor. On the other hand, human rights organizations played a prominent role in compelling US government to devise laws supporting employees’ rights. The major areas in which these laws apply are minimum wage rate, safety, and right to have emergency leave when required. This paper will analyze the level of practical application of these laws within American society. The four compulsory issues that should be resolved via process of collective bargaining are 1) Wage Rate 2) Holidays 3) Insurance 4) Performance Management. Following is the brief description of these components. Wage Rate Compensation should be disclosed by the management of the organization, in front of the chosen representatives of the labor union. At the same time, union leaders should accept these remunerations, prior to their implementation. Holidays The weekend comprising of two holidays is mandatory for any organization under US federal labor law. On the other hand, leaves should also be provided to employees in case of illness and emergency. The nature of these leaves should be decided through mutual consent between management and union leaders. Insurance Organizations are supposed to provide health and life insurance to their employees under labor act 1947. Nevertheless, employees have a right to forego this facility, in exchange to a higher pay. Timing Management and union are expected to decipher, the regular timings dedicated to organizational operations on daily basis, they must also decide the mechanism and level of compensation in case of over time. Performance Management Managers should also present a detailed mechanism of performance manage ment in front of the employees; on the other hand, the basis of promotion must be clarified prior to the employment. Literature Review This section is been dedicated to analyze existing literature on the topic of collective bargaining. The most important ingredient to foster, the process of collective bargaining is honesty (Adelhelm). Management must take some sober steps towards, facilitating the employees, through providing them a friendly working environment. At the same instance, the ability of the labor-law enforcement agencies, to implement the laws developed; to help employees to spend a smooth life is critical (Estlund). However, these practices are not implemented in an above-mentioned manner, because a new employee has to accept, the prevailing environment in the organization, therefore, there is a little opportunity for him to decide the terms of the employment. Nonetheless, these laws permit workers to halt working, over an issue of wage rate, with the management, but go vernment also gave the right to organizations, that they can replace their workforce, after paying numeration to these workers, according to the terms and conditions of employment contract (Singh and Jain). This observation illuminated the fact that organizations have the right to terminate troubling employees. Along with this, the biasness of law towards organizations is also highlighted, because legal environment blessed the commercial entities, with the power of eliminating employment of their

COST AND MANAGEMENT ACCOUNTING ESSAY Example | Topics and Well Written Essays - 2000 words

COST AND MANAGEMENT ACCOUNTING - Essay Example However, this paper analyzes only two branches of accounting namely financial accounting and management accounting. This report aims at analyzing these two branches in details by looking at each branch separately in regard to accounting. The paper also looks at the differences between the two branches of accounting basing on various factors. Financial accounting It is a branch of accounting that deals with finding and giving information on the profitability of a business. It aims at compiling financial statements of an organization and preparing them so that they show the financial position of a business. This branch is concerned with preparing these statements at the end of every financial year by analyzing revenues, assets, liabilities and other aspects of accounting (Drury 2007). It is the branch that handles the process of accounting and recording in the organization. It determines whether the business has made losses of profits in a certain financial year by preparing relevant f inancial statements. Managers use financial statements to determine the economic solidness of the company. This branch determines the financial position of an organization at a particular time for the purpose of other people like creditors, managers and shareholders of the business. Financial accounting entails providing information to external parties like suppliers and creditors to enable them make decisions (Ahmed 2008). Financial accounting provides managers with information on the company’s financial position, and this helps him to determine the performance of the company finances. With this information, the manager will be in a position to make financial decisions about the company like how to improve on the performance and to devise relevant strategies to improve on the performance of the company. A review of the balance sheet of the company helps managers to determine the cash levels of the company hence making the right decisions. The profitability trends obtained fr om the financial accounts is a critical tool for managerial decisions as it helps the managers to engage in those transactions which tally with the profit potential of the company (Ahmed 2008). Professionals under this branch have to get credibility from various authorities to ensure that they are fit to prepare financial statements and provide information to the relevant parties. For instance, in the United States of America the body that provides such credibility is the American Institute of Certified Public accountants. This body ensures that professionals who carry out the objectives of financial accounting meet the requirements and that they prepare the statements according to the framework (Gupta 2008). Therefore, financial accounting helps managers to determine whether the financial accounts have been prepared in accordance to the set regulations and to make decisions concerning payment of taxes. Financial accounting reduces the common problem of principal agent in an organiz ation. It reduces agency problem by measuring the performance of agents and reporting to concerned parties so that this problem is reduced. It deals with summarizing data from the financial statements that it prepares. It then publishes these statements in annual reports for