Assignment 2

Assignment 2 Student’s Name Institutional Affiliation Course Instructor Due Date Assignment 2 As an executive at Amazon, I need to have a clear understanding of budgeting, accounting, and workplace conflicts. The essence of understanding all three is ingrained in the idea that Amazon, as a publicly traded corporation, owes its stakeholders a fiduciary duty. That is, the organization needs to comply with pertinent regulations as they will help with precise financial reporting. With that in place, Amazon will be in a better position to comply with regulations and have accurate financial reporting. Budgeting First, budgeting is vital in every organization, including Amazon, as it is about determining the amount of revenue needed to reach the stipulated goals and objectives. On this note, Shim et al. (2011) argue that budgeting is closely associated with having a better spending plan. The significance of a better spending plan is that it will allow me to attract possible investors since most invest in a place where they know very well that their money goes to good use and can be accounted for. Scholarly examination of existing literature suggests that every publicly traded organization, including Amazon, is answerable to its investors, which is why a proper budgeting process will assist with this process by ensuring that truth and openness are evident in its financial reporting. Thus, budgeting is vital since it boosts investor's confidence and resource allocation. The latter is about budgeting, helping Amazon decide where the money is invested to maximize profitability. Accounting Proper accoun...