Question

Among rooms, food, telephone, administrative and general, marketing, property operations & maintenance, utility costs, rent, interest, and income taxes list and briefly discuss 3 accounts that you as a managers would be interested in investigating and why?

Answer 1

As a manager the 3 accounts in which I would be interested for conducting investigation are:

I) Administrative and general

2) Marketing

3) Utility costs

Let us first discuss the administrative and general account. A company incurres general and administrative expenses which represent the necessary costs that helps to maintain a company's daily operations and administer its business. These costs are not directly attributable to the production of goods and services. To me this account is of great interest because this type of expense are usefel at the time of calculating a company's fixed costs and its very challenging to control or reduce this expense.

Focusing on this would ultimately lead to focus on rent, utilities and few other accounts. As an manager, I would be eligible for a higher incentive as these are fixed costs and tough to reduce as they are having limited ability to be reduced.

Second comes the marketing account. Being a manager focusing on marketing accounts, I would be responsible for taking effective marketing initiatives to build a healthy network with inside and outside connections and to take the initiative to minimize costs incurred in marketing activities.

Marketing gives a platform to you to make the customers familiar with company's brand and products as well as services. Every exposures to the brand will give the customers a clear and simplified perception of the business. Customers will be attracted more and more and hence the business will ultimately grow.

Marketing is the basis of any company as each firm focuses on manufacturing and selling and earning as much as it can. The bottom line of any business is to make money and marketing is an essential channel to reach to that goal.

It has to be properly viewed where and on which products money is invested and how it can be utilised better. Decisions have to be wisely taken whether to invest more on advertising or sales promotions or designing products and various other sectors that come under marketing.

The third account to be of my interest would be utility costs. These costs are incurred by the use of various utilities namely, electricity, water, heating, sewage, waste disposals and many others.

Utility costs makes up a significant portions of the budget and costs goes on increasing every year. If these accounts are not checked and reviewed properly, small small expenses lead to a huge expense which the company had to pay. A better management would lead to regular monitoring, measuring and veryfying the usage. This oversight would help in revealing invaluable insights that can help in building control on the expenses.

There should also be a proper check on how much expense is being paid for these utilities because there are situations when more amount than required is being paid by the company. So its a very crucial task to maintain the utility cost and have a proper timely check on this.

These are the reasons why I would be interested in the above mentioned accounts.