CHECK THESE SAMPLES OF Cost, Budgets and Strategic Decision Making in Management Accounting
Cost of products are fundamental for decision making purposes hence the need to find for the means of costing products.... In determining costs using this system, variable costs are given a major weight to help in valuing products for decision making.... The reports formed based on this measure are only for use internally and not for external decision making purposes.... Cost accounting method of accounting is employed in this to achieve the aims....
6 Pages
(1500 words)
Essay
PLANNING, budgets and CONTROL Finance and Accounting Your name ………………………….... Words count: 3073 Table of Contents Table of Contents 2 Introduction 3 Planning, Control and Budgeting 3 Interconnection of planning, budget and control 5 Annual Master Budget 6 Potential issues related to budgeting process 10 Budgetary Slack 10 Participative Budgeting 12 Ethical issues in budgeting 12 Conclusion 12 References 14 Introduction One of management's major responsibilities is planning which is the process of establishing enterprise-wide objectives....
9 Pages
(2250 words)
Essay
The main purpose of this paper "accounting Synoptic" is to answer some questions related to different types of organizations in the profit perspective (profit and non-profit organizations), budgeting operations aspects and its structure overall.... The strict governance under which non-profit organizations operate has made it static, inflexible, not responsive to the changing environment, not focused on the formulation of procedural strategic plans, has lead to increase in discretionary fixed cost and lacks vertical control and supervision....
12 Pages
(3000 words)
Essay
The reasons for adopting a zero based budget are that it results in efficient allocation of resources, it helps detecting inflating budgets, cost effective ways to improve operations are determined, it increases the staff motivation and provides an initiative for decision making, it is highly useful for departments where the output is not identifiable, it identifies outsourcing opportunities, removes wastage and outdated operations, communication and coordination within the organization becomes more efficient, and the task of cost centers and their relationship to the overall goals are identified....
3 Pages
(750 words)
Essay
A changing discount rate can be build into the net present value calculation by ordering denominator, this feature becomes important as the rate normally changes because the longer the life span, the lower is the value of the money and higher the is the discount rate.
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Its an absolute measure of two projects, this project favors the project with which has a higher present value though its likely to have a higher initial capital outlay, its not dependable when projects have different capital outlays.
This is a controlling and a planning tool which allocates costs to products in value chain analysis....
7 Pages
(1750 words)
Essay
hellip; Rolling Budgets can be defined as, “Method in which a budget established at the beginning of an accounting period is continually amended to reflect variances that arise due to changing circumstances”.... ctivity-Based Costing: ABC is a modern accounting system in which the expenses and overheads are segregated based on the functions of the organization, which is followed by allocation of the costs to each of the items with respect to the volume of the activity (Kaplan & Anderson, 2007)....
7 Pages
(1750 words)
Assignment
All the listings of the formal budgets are approved by the top management members.... The strategic managers set the goals and on the basis of finance available they allocate the budgets of accomplishing the required tasks.... The budget development requires that the strategy which is approved by the strategic managers is delivered to the workforce and that they understand what the organization wants from them.... The budgets need to be allocated accordingly so that the benefits can be acquired....
7 Pages
(1750 words)
Essay
nbsp; For an accountant, a budget is “a summary statement of plans expressed in quantitative terms; it guides individuals or an accounting entity in reaching financial or operational goals.... budget could be very simple to a mother but it could be detailed and precise for an auditor or for management's perusal.... rdquo; (McCarthy, 1975:542) Budgets assist in the marketing executives in making decisions regarding their products, pricing strategies, promotional efforts, place specifications, and other strategic decisions over the coming fiscal year....
6 Pages
(1500 words)
Coursework