The objectives for achieving the success at Atlanta Home loans
Question 1.
The objectives for achieving the success at Atlanta Home loans
- Capital Constructing such that many CDFIs want to improve their companies so they can also help support their customers. The collaboration will provide CDFIs with a rare opportunity to exchange knowledge and obtain far-needed technical help and education at reduced or no price. This form of partnership also exists amongst larger and smaller CDFIs, and it can be a successful approach to allowing a smaller company to expand and a larger company to reach a new sector.
- Location-based policies where geographical location focused redevelopment programs are also required to tackle the crippling effects of poverty, instability, violence, low access to healthcare, and the under-standard education systems. CDFIs operating in the same sector have come together to serve the needs of societies more efficiently(Zakieva, 2019), for example, by reducing unnecessary duplication, by recommending transactions to one another, by pre-investing when one CDFI alone may not process transactions, and by capital raising collectively.
- Sector-focused initiatives since some CDFIs form alliances that focus on social development areas such as housing, education, medical care and the environment. To this end, organizations that dedicate their resources to, for instance, finding resources to develop public school services or to support initiatives that comply with the descending triangle line (social, environmental and economic) values and recommendations.
- Computing where CDFIs are using innovation almost at every point of the borrowing method. Others are engaged in using integrated technology tools to facilitate refinancing, loan management, and loan involvement. CDFIs are continually integrating their efforts to discover, create and implement emerging technology that can boost productivity and quality in sales, customer satisfaction, equity raising, and other fields.
The different success factors that led to achieving the set objectives
- Market Opportunity and Mutually Advantageous Objectives
- Management from inside
- Duties and responsibilities
- Quality Measurements
- Accountability
Strategies used
Collaborative work focuses on a variety of reform and development priorities, such as advocacy for additional funding for the Education department’s Provision Improvement for the School district Infrastructure System, that has seen less over a 50% drop in support (from $37.2 billion in 2004 to $14 billion in the year 2014) The metrics used to assess performance involve: ш Rise in support for the Indeed does Value Improvement system for the Contract of School Buildings.
Question 2.
Based on the data received, there are some shortcomings in the control devices introduced in the project. Such monitoring failures were one of the key factors that enabled unauthorized people to obtain unauthorized ownership of the Atlanta Home Loan. To stop this from occurring ever, it is necessary to recognize the key issues that caused the business to collapse and to create solutions to implement. Action policies rely heavily on your effort to monitor the actions of your workers; they may not encourage objective coherence within the company. Result measures offer flexibility or encouragement for workers to function together as a team, but the relation among outcomes and behaviour may not always be ideal. In the situation of AHL, intervention and result controls are vulnerable to deceptive actions because they are assessed based on the firm’s assessment or outcome; they are much more responsive than effective control systems. For instance, there is indeed a shortage of control of mortgage applications after they have passed the stage of the mortgage broker.
In general, there has been a shortage of separation of responsibilities in the divisions of your company. Walter had the rights and responsibilities of AHL, and also the right to perform recruitment tasks at the same time, and he could pay any business expenses. Furthermore, the authorized blank forms were distributed to the administration of the organization through your departure. There are management failures that are obvious to workers and are simple targets for misuse. Aside from a few shortcomings in controls, AHL doesn’t have a clear company strategy. It is good to build a business strategy by setting up a functional corporate framework and strengthening your business segment plan by creating a stated mission or a plan for your workers to deliver.
Management accounting controls
Collective mechanisms that aid to fine-tune the right way of handling complex variables, like managers and workers. The main objective of MACS is to facilitate the implementation of fundamental protocols, procedures and documents within a given organization in such a way as to optimize performance.
Types of controls
- Action controls: that’s the method of a control system that requires the monitoring of individuals in the execution of their roles. This is usually utilized where this is simple to create a clear connection between causes and effects. The aim is to see whether the correct protocol is implemented by merely looking at the outcome or performance of the operation. This method of control is possibly the strongest method of protective control.
- Personal/societal controls are the key theme here is the nurturing of teamwork and the creation of bonds between employees. It is assumed that by fostering unionism, the corporate purpose would be internalized, rendering the achievement of a shared goal a target for everyone. This form of monitoring, also known as cultural monitoring, is carried out at the recruiting stage by the human resources department(Mahajan, 2019). The aim is to hire or encourage only those who have committed to the company’s principles and values. It is claimed that, when properly implemented, this type of control would imply that the need for more regulations is as small as possible.
- Monitor outcomes: here, data on the performance of the research performed is gathered and analyzed. Control is depending on the statistics to make a judgment. Although this is the simplest type of supervision to be carried out, the fact that leadership doesn’t have to be competent in a decision-making phase is a major gap in the under-optimal output of workers and conference championship managers.
- Rewards are the very last significant aspect of the performance of the management system. The main advice included with the contract can include salary establishment, bonuses, advancement, job security, job task, educational opportunities, freedom, acknowledgement and power. The penalty is the rehabilitation from recognition, such as security, not an exclusive acceptance, public humiliation, failure to recognize recognized work, or job loss.
The management control problems
- Lack of focus
- Inspirational issues
- Social shortcomings
Strengths and weaknesses
It seems that AHL only used behaviour and outcome monitors in the primary, and it omitted the use of staff and heretic controls. Action measures rely heavily on your effort to track the actions of your workers and do not encourage temporal concordance inside the company. Result monitors offer flexibility or impoverishment for workers to function together as a team, but the combination of outcomes and behaviour might not always be optimal. In the event of AHL, intervention and result monitors are vulnerable to deceptive actions because they are measured based on the company’s conclusion or result that they will be more thermolabile (prenominal) than constructive control devices. For instance, there is a shortage of control of mortgage applications when they are late (prenominal) at the stage of the mortgage broker (Gao, 2019). In particular, there has been a lack of separation of duties within the divisions of your company. Wilbur had the use rights of AHL, as well as the right to execute recruitment tasks within a similar meter of the jurisdiction to cover certain personal expenses.
Furthermore, the authorized boob checks were distributed to the administration of the organization through your absence. There are management failures that are clear to the workers and are simple goals for misuse. Aside from these process flaws, AHL does not have a sound business plan. It is important to build a business strategy by establishing a consistent operational framework and strengthening your business unit plan by creating a stated mission or a plan for your workers to deliver. Prohibiting the very same Error from Occurring We have established the existing checks carried out at AHL, many of which need to be changed to avoid the same issues. AHL must consider strengthening the intervention measures by introducing electronic linkages to database files so that you can monitor the original loan registration process centrally instead of just reviewing the progress at the stage of the financial adviser.
In turn, the nationalism of roles would be implemented by different staff handling applications for loans, loan requests, reimbursement of office costs, procurement, acceptance of transactions and sign reviews, etc. This will entail the management of staff controls that allow the company to find a suitable employee, to provide them with a healthy working atmosphere and the required assets. AHL must have a qualified recruitment manager or professional personnel to perform the recruitment and exemption phase. In turn, AHL will aim to set up a more efficient incentive compensation program (through its performance checks), which not only recognizes surpassing employees but also promotes cohesion and target congruence for the company. This move must be accompanied by training on the application of social measures.
Question 3.
The overall management accounting control strategy should have been implemented by amending some of the small issues of the Atlanta Home Loan. Atlanta Home Loan will establish the firm’s code of ethics and principles, set an ethical tone at the top and inspire workers to be more socially responsible. The cultures of business will connect its workers or attract new employees because they share the same set of values. Alternative measures in place may help avoid mistakes of the past and aid recruit and retain productive workers.
Recommendations
Policy, staff and social safeguards are main trinity measures that should be in place to minimize the risk of a recurrence of situation events. When you can shore up the present action controls with either the help of a software or a free tracking program, so the mortgage application to support proportion will be dramatically improved as it decreases the possibility that any mortgage broker in the monitor will consume the mortgage applications while disclosing them to the company (Burritt, 2019). A significant action regulation could not be made exclusively by the (one individual), so implementation. Establishing a consistently stated mission and legal and regulatory framework would also provide underlying cultural assistance to the organization, complementing the implementation of policy and management controls. I hope that this report will be a helpful reference for you at the event.
Conclusion
In conclusion, the main commercial operation of the firm is the State and Federal-Sponsored Credit bureaus (SIC code 6111). Throughout the study, we compared the company’s main monetary variables with the standard (median) measures of those variables measured for the same sector and all businesses. The estimates are determined using information from the financial reports reported to the SEC for the year 2019 via the Digital information Collection, Evaluation and Recovery Process. By contrasting each one of the 11 leading indicators with the median price, we also come to an overall conclusion on the consistency of the company’s annual position. As a consequence of the review of the company’s critical monetary ratios, the below has been identified. The financial situation of FEDERAL HOME LOAN Financial institution OF ATLANTA in 2019 is significantly worse than the financial position of most of all the firms participating in the State and Federal-Sponsored Credit bureaus. A similar effect was reached by contrasting the business performance of the business with an average percentage of all the firms. The financial situation of FEDERAL HOME LOAN Financial institution OF ATLANTA is much worse than other mentioned entities that file financial reports to the United States. Securities and Exchange Board. All of this is a comparative analysis of the overall financial status and results. The distinction is focused on the Securities and Exchange Commission (SEC) via the Electronic Data Collection, Review and Retrieval Program (EDGAR) (about 10,000 biggest publicly listed companies). The comparison is made using the eleven significant financial ratios. The monetary proportions of the business are contrasted with the average values of the figures of all companies and industries in the same sector.
References
Burritt, R. L., Herzig, C., Schaltegger, S., & Viere, T. (2019). Diffusion of environmental management accounting for cleaner production: Evidence from some case studies. Journal of cleaner production, 224, 479-491.
Gao, H. (2019). Application Strategy of Management Accounting in Financial Management of Colleges and Universities. Journal of Contemporary Educational Research, 3(6).
Mahajan, A. V., & Deobagkar, S. (2020). Practical Application of the Management Accounting Tools for Decision Making During Recession-Survey and Analysis. The Management Accountant Journal, 55(2), 85-90.
Zakieva, L. B., & Sokolov, A. Y. (2019). JIT philosophy in modern management cost accounting and performance management systems. Administrative Consulting.