Management finance Essay Example | Topics and Well Written Essays - 1500 words

Management finance - Essay Example The reporting system in the company is new and shall be changing the norms and the culture of the company. With the introduction of new processes to the company operations then it is usually faced with resistant from the employees. The change in the processes of the company and the introduction of new process or norm is resisted whether it comes from inside or from outside of the company (Leanne, 2009). The reporting system in the company is resisted as well and employees consider it as the means of under estimating their performances in the company and shall not be able to truly evaluate their performances. The reporting system shall be considered as in just for the employees as the manager shall be taken the advantage of the performance and the employees and/or workers shall not be recognized for their performance (Debra & Bradley, 1999). Thus in order to get a better response and acceptability from the employees the report should be the true reflection of the performance of the em ployees. Budget is the most important part of reporting as the actual performance of the department is compared with the budget and thus the evaluation is done. The involvement of the employees shall be playing an important role in the reports as when the budget is prepared with the input from the employees considered along with the management perceptions then the budget prepared shall be much more realistic and achievable and the reports shall be getting a positive and accepted response by the employees (David, 2003). Budget is an integral part of the report and is utilized throughout the process, which involve planning, implementing and control (Mukdad, 2011), as the company enhances its internal controls and thus progress towards a more effective and controlled procedures. The budget in the report shall be much realistic, which involves the employees and the managers of all the departments of the company can attain and thus prepare a realistic and