Management Accounting Essay Example | Topics and Well Written Essays - 2000 words

Management Accounting - Essay Example However, contrary to this, the visual arts platform of the society constantly remains under the financial pressures and vulnerability even in the sound economic conditions of the country. The proponents of the visual arts, on this vulnerable situation of the visual arts platform have been raising constant voices over the matter. One the of such voices claim that visual arts organisations in order to successfully meet the societal requirement and expectation of educational and entertainment development shall maintains the system that provides it sound financial strength. However, despite the consensus on the need of the sound financial muscles for the visual arts organisations, there have been contrary views on the system to be employed for achieving them. One dominant view on the matter is pertaining to Royce (2011) view who insists that visual arts organisations shall develop a system similar to the business organisations. According to Royce (2011), well defined systems or more appr opriate to state that conduct like a business is mandatory for the effective results generation from the visual arts organisation. In this perspective, Royce (2011) stated that ‘Sound business models are a necessary component in healthy visual arts ecology and essential for most publicly funded organisations’. Royce (2011), for its concern over the detrimental and vulnerable condition of the visuals arts organisation shall proposed that all such organisations shall also have system for achieving the profitability. Viewing in the context of the definition for the arts in general and among definitions developed for the purpose, Shaw (2000) defined arts and creative industry activities as one that can be determined on the basis of its sustainable impact. As already reported, this impact is spread not only the social aspects but at the same time wide economic impact is also identified in many studies (Landry et al, 1996); hence, it is important to understand the fact that a n organisation in order to fulfil such responsibilities requires strong system. Royce (2011) assessment report was based in reference to the Arts Council England and the Turning Point Network but reflects the overall industry requirement. Visual arts organisation’s financial vulnerability, according to the Royce (2011), is due to the three main factors. First, the culture of organisational conduct prevailing at the visual arts organisations’ is in clear contrast to the economic principle mainly in terms of productivity. This practice is despite the proven facts that visual arts have always played an important role in the economics of the country and society (Reeves, 2002). More importantly, this practices is also in contrast to the development early in the history where since 1980s all cultural activities have been seen in the main context of their contribution the economic development and restructuring as well as revival of the manufacturing industry (Reeves, 2002). S econd factor that is responsible for this vulnerability is the tradition of free entry offered to audience in the many of the