Jenny Is the Owner-Manager of a Small Accounting Practice

question 50

Essay

Jenny is the owner-manager of a small accounting practice.She holds bi-weekly employee meetings to cover company goals, focus points for the future and keep the employees updated on current tax changes.She has developed significant bonds with the employees so they share work (and personal) problems with her more than in the past.Often Jenny can be found assisting new clients and aiding in paperwork completion especially around 15 April.What type of leadership style(s) does Jenny display and how?

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Definitions:

Period Costs

Expenses that are not directly tied to the production of goods and are instead allocated to the time period in which they are incurred.

Controllable Costs

Expenses that a manager or business unit has the authority to influence or change in the short term.

Product Costs

Costs that are directly associated with the manufacturing of goods including materials, labor, and overhead.

Administrative Costs

Expenses related to the management and general operations of a business, including salaries of senior executives, legal and accounting services.