Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning. Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function. To determine: Reason for division of departments in an organization

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Answer 1

Question

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.

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subject : general accounting question

BrightTech Inc. had stockholders' equity of $1,200,000 at the beginning of June 2023. During the month, the company reported a net income of $300,000 and declared dividends of $175,000. What was BrightTech Inc.. s stockholders' equity at the end of June 2023?

Question 3Footfall Manufacturing Ltd. reports the following financialinformation at the end of the current year: Net Sales $100,000 Debtor's turnover ratio (based on net sales) 2 Inventory turnover ratio 1.25 fixed assets turnover ratio 0.8 Debt to assets ratio 0.6 Net profit margin 5% gross profit margin 25% return on investments 2% Use the given information to fill out the templates for incomestatement and balance sheet given below: Income Statement of Footfall Manufacturing Ltd. for the year endingDecember 31, 20XX(in $) Sales 100,000 Cost of goods sold gross profit other expenses earnings before tax tax @ 50% Earnings after tax Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX(in $) Liabilities Amount Assets Amount Equity Net fixed assets long term debt 50,000 Inventory short term debt debtors cash Total Total

Answer 2

Question

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.

Answer 6

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.

Answer 7

Chapter 24, Problem 1DQ

To determine

Concept Introduction:

Organizations today have grown manifold. Companies have grown tremendously, where operating them as a single unit is herculean task. Hence it is advisable to divide an organization into various departments based on the functions they perform for effective management and functioning.

Departmentalization enables division of work and each department shall have a manager responsible for that particular departmental function.

To determine: Reason for division of departments in an organization

Answer 8

Expert Solution & Answer

Explanation of Solution

Following are the advantages of departmentalization:

• There is scope for specialization when a manager is engaged in a particular functional department. He would equip and excel in that functional area.

• When an organization is divided into departments, the administration process becomes easy. Each department can be given an objective or goal. Any deviation from the objective can be easily noticed in various departments.

• Each function is divided between the departments based on their nature. Each department manager will be held responsible for the functioning of their departments.

• The top management can easily communicate with the department heads and effectively convey their goals and take their suggestions in the decision-making process.

Division of departments ensures division of work. Every worker is instilled with the sense of process/job ownership. Also departmentalization promotes cross functioning and communication effective as no single department can work on its own without coordinating with others. Thus it ensures transparency and efficacy.

Thus the reason for division of departments in companies is explained.