What is the Difference Between a Master’s of Accounting and an MBA in Accounting?

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(Last Updated On: May 28, 2017)

First of all, we should know about the professional accounting, what it is? Professional accounting can be defined or understood as the field of accounting which is under a statutory professional accounting body of accountants. What is the Difference Between a Master’s of Accounting and an MBA in Accounting? The members of this body are professional of the accounting field. Here is the list of accounting fields for example;

 

  1. Chartered Accountancy
  2. Cost Accountancy
  3. Management Accountancy
  4. Company Secretaryship

Though it is not required that bodies who manage these professions should have statutory recognition, we just generally consider that accounting bodies have statutorily recognized as professional accounting fields.

The main purpose or the objective of the professional bodies is that to conduct the periodical examination of their aspirant to become the professional accountants or experts in the accounting fields. The syllabus of the course which will be taught to the students and the method of examination are totally decided by the professional bodies itself. The number of examination taken in the year is also decided by the body. Professional accounting has different values and principles for their students and members. What is the Difference Between a Master’s of Accounting and an MBA in Accounting?

There may be a different level of exam ination conducted by the body to get a different level of proficiency in the specific field. They may offer different courses to become professional in different branches of the same field in their real life. There are many other functions and objectives of the different bodies which enhance the interests in the profession, professionals and professional body. Different accounting bodies are;

a) ACCA

b) CA

c) ICAEW

d) CPA

e) CIMA

What is Non-Professional or Formal Accounting?

Non-professional or formal accounting is the fields which are specified by the different universities or different nonprofessional bodies. The objective of these bodies are very limited, the course, method of examination and awarding certificates are different from professional accounting bodies.

The Common Workplace Issues and their Solutions

In this report, you will find different workplace issues and their solutions. In the real life at your workplace you have to face different problems and should find a solution for these problems, otherwise, it will be very hard for you to survive in that environment. The most common workplace issues are as follows;

An employee negative attitude and unprofessional behavior is very bad for the workplace and make it difficult for the other employees to work in that environment. Here are the solutions to six problems through which employee morale suffers badly.

1)         What is the best approach to a discipline whose constant complaining is bringing down the moral of the new manager? As we have seen that the employee who is always complaining is ignored by the management. After some time these complaints undermine the moral of the manager that may be he not working good in the company that why the employees are complaining about him. This thing challenges the manager authority and the patient.           This type of person should get some discipline.

  •  A manager should show the employee’s behavior that it violates the company policy. There should be no one to question the authority of the manager if he wants to discipline the complaining employee or not obeying the orders. But if some employee doesn’t like the color combination of the cafeteria then it will not be appropriate to come hard on him.
  • Don’t ignore the complaints from the employee, the manager should investigate the complaint and then get back to an employee with an answer. Through this, they will come to know that how their complaints are being handled at the company’s end.
  • Never justify a major punishment for the employee on a minor issue, filling unsatisfactory appraisal against the complaining employee will make the matter more badly, and each complaint should be a judge on the different basis when it is filled by the employee.
  • Never let an employee alter your decision of disciplinary action, some of them think that this action is due to their previous complaints. A manager has to right to take a disciplinary action depending upon the performance of the employee. Not on the condition that he/she filled a complaint or not.

 

2)         One of the company employees is complaining about the management that how bad it is, he has to work hard. The duty timings are very long and the wages of the employees are very low. The employee is discussing this with the customer, now is it right or legal to fire that employee from the job or not, because he is making the wrong impression of the company in the eyes of the customer.

 

  • No company cannot fire the employee on this condition because the National Labour Relation Act give the complete freedom to the employees that they can discuss salary packages and duty timings with anyone. But this act does not protect the employee is giving the wrong statement about the company.

 

3)         What is the best way to deal with the employee who has personality problem before discipline becomes certain? To deal with the stubborn employee here are some tips available.

 

  • Give a clear cut instruction to the employee, for example when you are giving the task to administrative assistant tell him that I want you to put the assignment in the neat pile on my desk, give complete instruction in a very polite tone. Now you have set the standard what you want from him and what is missed?
  • Don’t throw in the towel too early, the problem will not be solved by telling the employee that he/she has some problem with the manager. First of all determine that problem is personal or professional, start from the workplace. If the department is expanded or contracted and you are dealing with strong pressure and dealing. More responsibility is assigned to the employee? The employee is overloaded with the work or is not capable of doing that kind of work? If you find that problem is the professional problem, in this condition there are many ways to solve it, like clarify the goal to the employee, providing extra training to him/her, reassigning job duties.
  • Have some patience if you determined the problem than wait for the results because the result can come later.

4)         What steps and employer should take to stop the negativity in the company?

It is very difficult to deal with the employees individually for this employer should have tactics to deal the workforce collectively to stop spreading negativity about the company.

  •  Communicate, Make sure that every employee of the company knows that you have open door policy for the communication and you are aware of all the information and event happening around you. This thing will help to remove the rumors or false information about the company.
  • Participate, if an employer listens to their employees what they want or what is their concerns through this the complaining of the employees can be removed. Make employees take part in the determination of the goals through this they don’t feel that they are just being ordered from the management.
  • Set Standards. Base the standards on behavior not on attitude, an employer cannot control an individual thinking, but the employer can control the negativity by putting consequences on the behavior of the employee.  For example, an employee doesn’t like the policy of the company you cannot do anything about this but you can tell the employee that what will be the consequences if this policy is not followed by the employee.
  • Hire the right people, in interviews find out the negativity of the employees so they can’t find a job in your office.
  • As them the question that
  1.          Why you left your previous job?
  2.          Have you ever feel that you were treated on unfair basis?
  3.          If you are the manager on your previous job what you want to change?

5)         There are two employees in your company who have a classic personality conflict and they have to interact with each other for their work, what you will do to solve this fight or conflict between them? In this type of situation, the employer should come between them and tell them that they need to put back their personal conflict to achieve the company goals. They need to act professionally and respectfully to each other. The manager should take steps to just manage their performance and should not solve the problems if their problems are not job-related. In this condition warn them about the disciplinary action taken by the company if they don’t stop. Don’t allow the employee to point on other employees; every employee should be responsible for his own behavior.

6)         An employee wan put on performance appraisal. But she refused to sign it and wants to add her own comments in the feedback. Now, what a manager should do? It is not compulsory for the manager to cater the demands of all the employees individually. In this condition, you can allow her a separate sheet to attach with the appraisal form.       Through this, she thinks that she will be heard or get satisfied. Notify the employee that her signature just tells that you agree with the feedback and your comments will not change the decision from this appraisal.

 

Challenges of Public Relations in the 21st Century

In the 21st century, public relations has been reinvented. As you know that the internet can be used to putting out a message but on the other hand, but it is very hard to hear. The purpose of the message can confuse the people but sometimes some messages go viral which are in the interest of the people. A small business has to overcome different obstacles to utilizing the PR. 

Credibility

In the 20th century, it is very difficult for the public relations professional to get access to the media outlets. The editors at the outlets have to screen PR messages which have three qualities for example quality of the message, professionalism in the message and the accuracy of the message conveyed to the public. Now in the 21st century everyone has the access to the internet and can put out a message in seconds. This thing has the bad affect or hurts the credibility of promotion those uses PR. As we know that a small business has to find the way to credibility to put a message in the public about its business. For this the owner can use his own credential and background, he can also find a third party which will design a message about its business and the claims about the PR.

Multiple Channels

In the previous years, we think that radio, newspapers, and televisions are enough to reach an audience. In the 21st century PR must choose different pathways to target the audience, for example messaging campaign will be used to target the young people, switch to an email marketing will target the young people parent, and the traditional method of using newspaper campaign will target the senior citizen. Every message will be designed depending on the distribution method used for the message. For a small business campaign the right message should be conveyed to the right audience otherwise there will be no result.

Measuring Impact of Social Media

Social media is like a dream for the PR person. It is very simple and convenient for the small business owner to spread his message about its business product. But the difficult on the social media is that he cannot measure the impact of this message.  As we know that social Medias are linked to each other so the message on one social site can be easily spread to another social media site. But the problem in this is that users of social media don’t like PR messages to appear on their wall so they block these types of ads. Owner have to craft his message in a way that user finds it interesting and try to read the full message what is it? The owner has also to decide that how the user of social media will find out about the business through these social channels. If this is not the right option then he should find another mean to reach his target audience.

Two-Way PR

In the last decade public relation message was one-way communication, but in the 21st century, the target audience can also leave a reply immediately. Small business owner can appoint an employee to answer the queries on social media and tell him about the positive response from the social media about the business. If there is no positive response from the user’s then the owner should alter the message.

 

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