Contact Us
Sign In / Sign Up for FREE
Go to advanced search...
Nobody downloaded yet

Management Account - Assignment Example

Comments (0) Cite this document
The paper "Management Account" considers particular actual and budget terms and analyzes the given information. Also, the paper looks into Procedures to Control the Various Elements as far as it is better to employ some inventory control methods so that realistic or optimum, and not maximum, inventory levels are maintained that are necessary for smooth production processes…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.9% of users find it useful
Management Account
Read TextPreview

Extract of sample "Management Account"

Download file to see previous pages It has also been informed that actual sale income has been very near to the budgeted figure. This simply implies that debtors have not paid in time. The shortfall in the collection from debtors has made a huge impact (50%) when compared with the budgeted figure in working capital requirement. Stricter measures need to be deployed in the collection of the money.
3. The third major impact has come from finished stocks, which shows its inventory has risen by 46.6%. In absolute terms, this has increased the working capital requirement by £21,000. Again, it has been reported that sales income has remained the same.
Looking at above issues, it appears that no proper method of inventory control is administered with respect to item segregation on the basis of its importance, which needs to be incorporated for immediate and in-built control in stocks and money spent.
There is a negative balance in the bank also indicate that money has been overdrawn from the bank and that will increase the interest burden and reduce the profitability of the company. It will put a severe strain on the company’s financials.
Under this method of inventory valuation, it is assumed that goods are accounted for in the order of procurement. That means goods purchased first are used also first in manufacturing operation. It follows the natural flow of inventories, that is, those arrived first will be out first.
This method decides that the cost of the goods sold during the given period comes from the most recent raw material purchases. It means that the latest inventory of the goods is the first in the line of consumption.
It is a predetermined and fixed price taking into consideration the factors that affect the material price such as the likely change in prices as per market conditions. Standard material price can be further bifurcated in the current standard price, if taken into account for the short period or known as basic standard when remains unaltered for a long period.
Thus, it is seen that with all available ways of calculating stock issues, there are merits and demerits involved with each method.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Management Account Assignment Example | Topics and Well Written Essays - 1500 words, n.d.)
Management Account Assignment Example | Topics and Well Written Essays - 1500 words.
(Management Account Assignment Example | Topics and Well Written Essays - 1500 Words)
Management Account Assignment Example | Topics and Well Written Essays - 1500 Words.
“Management Account Assignment Example | Topics and Well Written Essays - 1500 Words”.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Historical Account of Strategic Management

...Management Account... Management Account... a critical historical account of Strategic Management and assess its significance for managerial practice in differing al contexts? Table of Contents Present a critical historical account of Strategic Management and assess its significance for managerial practice in differing institutional contexts? 1 Table of Contents 2 Introduction 3 Historical Perspective of Strategic Management 4 Managerial Implications 6 Linkages 8 Conclusion 10 References 11 Introduction The present competitive and turbulent business environment has necessitated the formulation of effective business strategies that can help them remain competitive so as to maintain sustainability. Business strategies are quite analogous to...
10 Pages(2500 words)Essay

Management account-R12

...? Finance and Accounting: Management Accounting Question 4: Critically evaluate the contribution of contingency theory in helping us to understand how accounting and budgets can and should be utilized to address the problem of management control. In accounting, there are several theories which give guidance in understanding certain aspects. In management accounting, there are specific theories; among them is the contingency theory. In management accounting, contingency theory is basically concerned with the situational factors. The theory aims at reflecting management accounting system as dependent on factors that crop up from time to time. This theory brings details of the factors which rise up and affect a management accounting system...
18 Pages(4500 words)Coursework

What issues do HRD managers need to take into account when planning a management learning and development programme

...Management Account... Management Account... issues do HRD managers need to take into account when planning a management learning and development programme The modern era of Human ResourceDevelopment has witnessed the advent of the"knowledge based economy" where the future of education will be profoundly impacted upon by the knowledge management of the labour force. That is, the ability to use knowledge as a resource which is the embodiment of the human intellectual acumen. Thus the knowledge-based economy pertains to knowledge creation and its diffusion with the role of information management. All the actors of this new knowledge based economy, whether they are the individuals and companies or even the state have to be wary of losing out the in ...
9 Pages(2250 words)Essay

Nursing Journal: An Account of Time Management

...Management Account... Management Account... Journal: An Account of Time Management After being placed in the clinical area, as I have been enriched with many experiences, the responsibility has increased in a proportionate manner. Now, I am not a newcomer, I am well into the practice; this is about 6 weeks down the line I have been placed clinically. It is no longer the role of a passive observer that a new trainee nurse performs; it is rather a very active and hectic schedule of day to day clinical ward flurry of activities. Time passes like speedboat, and in the ward, any newcomer such as me will feel like confused and at a loss about what to do and what not to do. There are multiple activities with the pressing demand of time, and when I...
4 Pages(1000 words)Essay

Account management

...Management Account... Management Account... "Account Management" Decisions in marketing generally focus on products and services, their prices, their promotion, and in means through whichthey are distributed. Entertainment and leisure industry is one of dynamic and fast growing branches in the UK. High rates of its development, great volumes of currency receipts have an active influence on various sectors of economy that promotes formation of the industry. The Entertainment and leisure industry includes a wide range of sub-sectors: entertainment (adult entertainment, attractions, movie and theaters), gambling, hospitality, restaurant and caf, sport and recreation, etc. Entertainment and leisure industry is marked by increasing capital markets...
3 Pages(750 words)Essay

Key Account Management

...Management Account... Management Account... of Key Account Management 24 April 2006 When a business conceives a product to sell in the market, one of the important queries it anticipate is how much and how soon shall the return of investment be. Essentially, a business must be all about product and profitability. But with the increasing consumer awareness and literacy, notwithstanding the stiff competition with in the sales arena, it is a daunting task for a supplier to succeed in becoming a market leader in their respective category. No matter how original and important a product may be to a consumer, eventually the emergence of other more trendy and better ones shall render it less popular and in the long run negligible. The sustainability of a ...
6 Pages(1500 words)Case Study

Do Contrast in the Long-term Financing and Ownership of Business Explain National Differences in the Governance and Management of Firms, and Fundamentally Account for the Success of Major Economies

...Management Account... Management Account... Contrast in the Long-term Financing and Ownership of Business Explain National Differences in the Governance and Management of Firms, and Fundamentally Account for the Success of Major Economies? 1. Introduction A company in global fast food industry, Kentucky Fried Chicken (KFC) specializes in fried chicken. To answer the question whether or not the contrast in the long-term financing and ownership of business explain the national differences in the governance and management of firms, and fundamentally account for the success of major economies, the case of KFC in UK, US, Japan, and China will be compared and contrast in terms of the nature of ownership, governance, business strategy, corporate object...
10 Pages(2500 words)Essay


...Management Account... Management Account... Reflective Account Relating To a Patient With Painful Urination Reflective Account - Physical Exam A 15 year old female patient, accompanied by her mother walked in the clinic presented with a painful urination within the last 24 hours. The nurse tried to relax her and gave the impression that it will be alright. He told the mother and daughter that he will need to ask a few questions to establish the medical history. The nurse was focusing on open questions as they reveal any hidden concerns (Johnson & Smith, 2012). Advanced nursing practitioners are highly skilled nurses who can take comprehensive patient history and carry out physical examination (NMC, 2005). Accurate and thorough assessment, from he...
5 Pages(1250 words)Essay

Customer portfolio and Strategic Account Management 04255

...Management Account... Management Account... Account Management Introduction The evolution of global business market has changed the way a firm runs its business operations and its approach towards creating value for the customers. The business strategies have evolved from a product centric approach to a more customer centric approach, where the sellers are more focused on what the customers are looking for and what are their preferences. This as a result gave rise to the customer relationship management which became a vital part of strategic account management. The customer portfolio is now considered as a vital part of business operations as it acts as one of the most important assets that generate value for the company. This paper is focused on ...
12 Pages(3000 words)Essay

Customer portfolio and Strategic Account Management 04256

...Management Account... Management Account... portfolio and Strategic Account Management 0 Introduction According to Payne and Frow (2005), relationship management (CRM) has surfaced as a major area of both marketing research and practices. CRM has achieved to change the concept of relationship marketing with the advancement of communication technology, information technology and the network economy. Four interconnected levels of CRM are defined and they are individual relationships, networks, portfolios, nets. Most of the reliable, customer management tool proposals are made at the customer portfolio level. With the introduction of the CRM, great interest has been drawn towards the customer portfolio management. Arguments made by Johnson and Selnes...
12 Pages(3000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Management Account for FREE!

Contact Us