Cost Accounting, Developing a Cash Budget, or Using Net Present Value in Decision-Making - Coursework Example

Summary

The paper "Cost Accounting, Developing a Cash Budget, or Using Net Present Value in Decision-Making" discusses that the techniques in managerial accounting help our decision-makers where to allocate our resources where it could generate the utmost value and revenue for the company…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER94.9% of users find it useful

Cost Accounting, Developing a Cash Budget, or Using Net Present Value in Decision-Making

Read Text Preview

Subject: Finance & Accounting
Type: Coursework
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 2
Author: tpollich

Extract of sample "Cost Accounting, Developing a Cash Budget, or Using Net Present Value in Decision-Making"

Cost accounting also helps our company to identify essential costs which are necessary for creating value and profit for the company. Through this technique, our company are able to identify costs which are not necessary or not justifiable and enables our company to do something about this thereby improving our financial by reducing unwanted cost. For example, one department cost a lot to operate so our company decided just to outsource the operation because it is cheaper to do so.

Our company’s financial statements are able to identify profit centers and helps our top managers to direct the company’s resources to maintain and bolster our revenue. Thus, in developing cash budgets and capital expenditures, the resources that the company I work for allocates is justifiable with the value and revenue it generates for the organization.

In sum, the techniques in managerial accounting enable the decision-makers in my company to reduce cost by identifying operations and activities whose cost are unjustifiable thereby making our operations more efficient. Read More

Cite this document

APA
MLA
CHICAGO

(“Discussion Coursework Example | Topics and Well Written Essays - 250 words - 30”, n.d.)
Discussion Coursework Example | Topics and Well Written Essays - 250 words - 30. Retrieved from https://studentshare.org/finance-accounting/1694058-discussion

(Discussion Coursework Example | Topics and Well Written Essays - 250 Words - 30)
Discussion Coursework Example | Topics and Well Written Essays - 250 Words - 30. https://studentshare.org/finance-accounting/1694058-discussion.

“Discussion Coursework Example | Topics and Well Written Essays - 250 Words - 30”, n.d. https://studentshare.org/finance-accounting/1694058-discussion.

Cited: 0 times

CHECK THESE SAMPLES OF Cost Accounting, Developing a Cash Budget, or Using Net Present Value in Decision-Making

The understanding financial data, and developing and making judgements on proposals against strategic objectives

This research aims to understanding financial data, and developing and making judgments on proposals against strategic objectives.... hellip; This paper is an international module providing a broad overview of financial values for all learners and a base for additional in depth study of finance and accounting.... The report consists of International Financial Reporting, Interpretation of accounting information, Budgeting and Organisational Objectives and Investment appraisal Techniques....

15 Pages (3750 words) Essay

The Financial Health of a Business Enterprise Analysis

So, all in all, we can say that there remains little improvement in the company's financial state of affairs and it would be better not to invest in this company at the present time.... However, the net margin percentage has nearly doubled, from 4 percent in 2009 to 8 percent in 2010.... No wonder, it had to resort to a sale of land to get some more of the needed cash.... The finance director of any firm is most often concerned about two things: how to get surplus cash for investment and how to invest the surplus cash so as to get the best possible return....

14 Pages (3500 words) Assignment

Purpose and Importance of Budgeting an Organization

A budget is thus a coordinated plan of the operations and the resources available to an organisation represented monetarily for a specific period of time (Shim and Siegel 2008).... A budget is a very important to an organisation since it provides a clear and measurable statement of expectations, improves communication and coordination in an organisation and provides a basis on which evaluation is done and control is exercised.... Budgeting report illustrates whether resources were obtained and used in accordance with the budget....

17 Pages (4250 words) Essay

Uses and Limitations of Cost Volume Analysis

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. ... ts 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. ...

7 Pages (1750 words) Essay

Cost Accounting Principles

The paper 'cost accounting Principles' is based on Hadika plc of late which has expanded by leaps and bounds on multi-site scale operations with its bases spread to the U.... Management of Money: FA reports only the monetary aspects of the organization while MA takes interest even in the non-monetary aspects like technical innovations, money value changes, etc.... hellip; It is observed that whether legally compulsory or not, the inclusion of Management accounting processes into the firm is very important to arrive at the right costs incurred during the production of the product....

6 Pages (1500 words) Case Study

Evaluation of Financial Position - Excel Limited

rocess costing is the normal method of capturing the cost in most manufacturing industries especially when the products are produced in large numbers using a sequence of repetitive operations.... The cost of each process (or department) is captured using one of the costing techniques.... The report also studies the commonly accepted budgetary practices and recommends the optimum budget model for Excel Limited.... This costing concept is recommended for external reporting as per accounting Standards Committee (SSAP 9)....

12 Pages (3000 words) Essay

The Contribution of Management Accountants in the Formulation of Corporate Strategy in Moonsnail

The budgets include capital budgets, cash budgets and production budgets.... Management accountants are among the most important employees in an organization because their skills are important to make… They largely influence the profit margins in an organization because they establish and set the cost of production.... They also remove wastages, set cost of production and prices of products produced as well as support good corporate governance....

19 Pages (4750 words) Essay

Purpose and Importance of Budgeting to an Organisation

The paper "Purpose and Importance of Budgeting to an Organisation" highlights that the budget is critical in the fluid functioning of an organisation as the resources are never limitless.... A budget is thus a coordinated plan of the operations and the resources available to an organisation represented monetarily for a specific period of time (Shim and Siegel 2008).... A budget is very important to an organisation since it provides a clear and measurable statement of expectations, improves communication and coordination in an organisation and provides a basis on which evaluation is done and control is exercised....

20 Pages (5000 words) Coursework