MANAGEMENT

Strategic and financial analysis of Annovim plc



Strategic and financial analysis of Annovim plc

Introduction

Annovin Plc operates with the aim of providing quality product to its customer. The company is situated in northern part of United Kingdom and operating from all over the country. Overall, the company is involved in the production of several products like lighting products, information equipment, wiring products, appliance for personal use, product used during the manufacturing of buildings and others. Products manufactured by the company are generally used in daily aspect of human lives and it has been observed that human lives are considered useless without holding of these instruments (Armesh, et al 2010).

All business units of the company are determined to follow the described mission and vision statement of the company, and for that, they mainly focus on providing excellent living environment for its customers so that they can completely enjoy the success by enabling customers to lead their lives in safer and peaceful environment. Further, the company also aims to provide appropriate and one-step solution to customer problems by keeping in mind the changing practices and environment.

In addition to this, right from its inauguration until today the organization has drafted a strict and simple guidelines for its employees regarding their day-to-day activities. product line of the company is extremely strong and is its vision and mission, however, form sometime the company is observing slight issues in his financial operation and is also facing certain difficulties in the controlling the system process and in managing the performance of the organization as a whole (Badu, 2011).

hence, for this particular purpose the management of the company has hired a senior accountant management to evaluate the financial position of the company and to draft a proper framework for eliminating these unwanted risk that are prevailing over the head of the organization. After analyzing the financial performance of the company, the senior accountant described that company is facing certain issues regarding the budget process, and further are not able to control business operation in ethical manner.

Discussion

Control System

The progress of the organization is highly dependent on frequent measurement of its performance. Further, this issue has become the major focal point for both the managers and financial management of the company. On the other hand, management accounting for years has limited its operation analyzing the financial performance of the company, and of drafting regulations and theories related to the concepts of economics (Curristine, 2005).

Foe over the year the financial experts and researcher have effectively used the behavioral aspect of the management accounting for the formulation of various economic theories. Nevertheless, the prevailing regulation of economics are insufficient in providing the clear picture of organizational internal activities to the management and in formulating proper and effective management control system. In addition to this, other relevant approaches that are particularly based on critical theory of economics are useful in studying other important aspects of the accounting system but are ineffective in analyzing overall control of the ...