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MANAGEMENT ACCOUNTING
Management Accounting
Management Accounting
Management Accounting
Management accounting is a combination of three domains which are accounting, management and finance. The distinction in the term management accounting is due to the use of leading edge tactics used for driving the business processes successfully. This field is completely different in comparison to the ...
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Budgeting
Module 5: Budgeting
Part I: Planning Function of a Budget
In the first part, we have to discuss regarding idea of managerial accounting. This knowledge has been applied to a sample of charter school budget. This budget has been prepared through assumptions that student has been enrolled on three level bases i.e. ...
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Budgeting
[Name of the institute]
Accounting Analysis
Question 1
For Product C
Customer wants to buy 1000 units for the new product C, while willing to pay only 150 per unit
Hence the Sales of the Company will be (1000*150) = 150000
Cost of the direct material decrease by 12 per unit, it means the direct ...
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Allocating Fixed Costs
Allocating Fixed Costs
Introduction
A financial analyst is supposed to undertake different accounting techniques to analyze accounting figures. The accounting treatment of cost is very complex and has financial significant. The Chartered Institute of Management Accountants (CIMA) defines cost accounting as a process of accounting for costs from the point ...
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Allocating Fixed Costs
Allocating Fixed Costs
Computations
Income Statement of the company for the year 200X
Product AProduct BTotal
Sales$960,000$1,080,000$2,000,000
Less: Variable Expenses
Direct Material$560,000$240,000 $800,000
Direct Labor$120,000$360,000 $480,000
Variable Overhead$80,000$120,000 $200,000
Variable Selling & Admin $26,000 $54,000 $80,000
Total Variable Expenses$786,000$774,000$1,560,000
Contribution Margin$174,000$306,000 $440,000
Fixed Expenses
Fixed Manufacturing Overhead$200,000$200,000 $200,000
Fixed Selling & Administration$100,000$100,000 $100,000
Total Fixed Expenses$300,000$300,000 $300,000
Net Operating Income/Loss$126,000 -$6,000 $140,000
(http://www.pearsoned.ca/, n.d.)
Comment
The execution ...
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Variable and fixed cost
Variable and fixed cost
Solution A
Contribution Margin Income Statement
Herrestad Company
For year 2011
Price Per Unit
$250.00
Number of Units Sold
8000
Total Sales
$2,000,000
Less: Variable Production Costs
$1,440,000
Less: Variable Selling Costs
$80,000
Total Variable Costs
$1,520,000
Contribution Margin
$480,000
Less: Fixed Production Costs
$200,000
Less: Fixed Selling and Administrative Costs
$100,000
Total Fixed Costs
$300,000
Income ...
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Introduction to Managerial Accounting
Introduction to Managerial Accounting
How is managerial accounting different from financial accounting?
Accounting has different fields that cater the needs of the different stakeholders of an organization. The key differences in managerial and financial accounting are as following:
Financial accounting is basically used for providing information to the external users ...
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Introduction to managerial accounting
Introduction to managerial accounting
Introduction
Introduction and relationship with the organization
Apple Inc, which is known as one of the famous, well known, and leading multinational organization operating in the United States of America(Coombs et al, 2005). The company was previously registered under the name of Apple computer Inc, moreover ...
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ACCOUNTING
Accounting and management assignment
Accounting and management assignment
Q1)
Calculation of breakeven point
Fixed cost = salary + rent + maintenance
Fixed expenses = £11000+ 4000 +1000
= 16000
Variable cost = £6000
General expense per guest = (food + electricity + domestic + minibus)
£ (25+3+5+10)
= £38
General expense per 15 guest = ...
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INK WELL LTD
Review of Accounting System in Ink well Ltd.
Review of Accounting System in Ink well Ltd
Terms of Reference
The following report is related to the analysis of accounting system in Inkwell Ltd. The major aim of the report is to evaluate the accounting system of the organization so that corrective ...
