This paper "Cost Accounting: Apple Plc" presents the managerial accounting arena with an emphasis on the Apple case. The report considers the discussion on various aspects of Activity-based Costing, Balanced scorecard approach, Value chain analysis, and profitability measurement…
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The little changes in the traditional accounting system were not in alignment with the rapid radical transformation in the business environment. The evolution of managerial accounting with a more enhanced approach to cost accounting, performance management, value chain analysis, and other perspectives have taken place to keep pace with this multifarious and ever-changing business environments.
The responsibility of day to day decision making in any organization lies with the managers within the organization. Managers use a number of information and data to make numerous decisions during the day to day operations. A significant part of its information comprises of the accounting data of any organization. Managerial accounting is quite different from the financial accounting as the later one is mostly concerned with providing information to the outside stakeholders of an organization like the shareholders, suppliers, and customers, while managerial accounting offers information to the managers who are inside the organization (Warren, Reeve & Duchac, 2009). As Apple Plc is into a large business, the elements, existing in the business value chain would be of large numbers. To take care of each of the elements is significant from the business point of view. In a large business organization, it is quite a difficult task to manage the managers’ performances to have control over business activities. So the organization needs some modernized techniques like activity-based costing, balanced scorecard approach and value chain analysis.
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...the various costing methods, absorption costing and marginal costing are the two important tools that are widely used for managerial decision making. This piece of research paper describes the differences between these two methods and explains the arguments for and against these costing methods. Marginal Costing As Lucey and Lucey (2002, p. 296) defined, marginal costing is an accounting system in which variable costs are charged to some specific cost units for a period of time and fixed costs are fully written off against the total contribution, which is the value of...
...?CostAccountingCostAccounting Absorption and Marginal costing This paper will critically evaluate the costing method used by different management systems by assessing their convenience in terms of advantages and their shortfalls. The common costing methods used in costaccounting include absorption costing and marginal costing. Absorption cost (also known as full costing) is costing systems which includes direct materials, direct labour and variable and fixed manufacturing overhead as product...
...Running Head: costaccountingCostaccounting [The of the appears here] [The of the appears here]Planning and control models:
While financial accounting with its annual report relates to the over all progress of the enterprise, costaccounting must aid and fulfill management's needs for planning and control information. It must concern itself with the details of the progress and the contributive efforts of the business unit.
Budget (planning and control model):
The planning process is best started by examining the past particularly with regard to trends and directions, and then forecasting the future course by projecting...
...A Case Study for Bagalot PLC in (Management and Measurement Performance) Accounting and Cost
Table of Contents
Question 1 2
Question 2 4
Question 3 6
Compare and Contrast the Profitability of Briefcases 6
Recommendation for Enhancing Profitability 7
Requirement of Information 7
Question 4 8
Question 5 10
Reasons of variances in the Revenue 10
Requirement of the Further Information 10
Question 6 11
Question 7 15
Activity Based Costing 15
Activity Based Management 16
Implementation of both the Concepts in Service Industries 16
The costaccounting system of Bagalot PLC is...
...RUNNING HEAD: CostAccountingCostAccounting of This paper seeks to comment on theremarks made by the Chief executive officer (CEO) of Home Workout Equipment Corporations to a colleague that he does not understand why other companies are wasting so much time in the budgeting process. For the said CEO, setting the company goals is done by him and that everyone would just need to strive to meet them.
To follow what the CEO wants to be done may be easy for a number of managers and employees but not at all times. When the subordinates including the managers have to do some work that would require their decision-making skills in the work place, it would be hard...
...CostAccounting Contents Reference 10 11 Part ArcelorMittal is one of the leading steel manufacturing companies in the world. In 2010 ArcelorMittal produced almost 90.6 million tones of steel which represents almost eight percent of steel production of the world (ArcelorMittal-a, n.d).
While manufacturing a stainless steel a lot of processing takes place. Separate costs are incurred in every process and they are recorded as per that. The raw material has to undergo many sub processes for manufacturing the steel. Steel is made of two elements namely iron and carbon. Stainless steel contains 1.2% iron where as the other steel like cats steel and carbon steel has 2% of carbon...
...Costaccounting refers to the process of measuring, ifying, analyzing and collecting costs of a job, product. In summary, it is also the act of accounting for the occurrence and controlling costs with the objective of ascertaining operating efficiency of a business. On the other hand, costaccounting systems are the internal information systems structures and procedures that are applied by a company to ensure proper costaccounting. Cost system is one of the scopes of costaccounting, although both have a common objective of providing relevant decision making information to the management (Lal. 2008).
The most important feature of a costaccounting system is the regularity with which relevant cost information is provided to users... . There...
...Case Study The practices that business enterprises engage in are guided and informed by legal provisions, and violation of regulations and laws outlined by such provisions constitutes a crime (Vona 124). In the contracting business, Jumbo Corporation is well aware of its requirements to be in that business. Having been contracted by the government implies that it had met the criteria of qualification in order to get the contracts. Since the corporation had numerous government contracts, it is expected that it is in a position to address all the necessary activities that pertain to these contracts.
The charging of the contracts by the company employees is supposed to account for the two types of contracts; fixed-price and...
...In any company whether it’s a manufacturer of goods or a software development company, accounting systems are designed to provide managers and stakeholders with the key financial information needed for decision making. Modern costaccounting supply management and financial accounting with the tools to measure and report key financial and non-financial information relating to the acquisition and consumption of financial resources within the corporation. Costaccounting systems provides internal managers with the means and necessary information to assist in the coordination of activities and functions within the corporate framework of the...
...CostAccounting: Sodor Water Plc
The report considers the issues those have been raised in the case itself. It is an effort to get a more insight into the case facts. The analysis has been done through the accumulation of case facts and through a proper analysis of those facts to reach at the solutions. The conclusion has been inferred from the analysis to offer a synopsis of the case study with the addition of some new perspectives.
The company, Sodor Water Plc, is located in a self governing British Crown Dependency, the Island of Sodor. This company mainly offers water supply and waste water services to almost 500,000 inhabitants staying at...
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