Preview

Cost Accounting of Gearbulk

Powerful Essays
Open Document
Open Document
4310 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Cost Accounting of Gearbulk
Contents
Executive summary 2
Industry analysis………………………………………………………………………………………………………………………….3 Major external environmental factors 3 Money exchange………………………………………………………………………………………3 Economic situation……………………………………………………………………………………4 The politics……………………………………………………………………………………………4 Five forces…………………………………………………………………………………………………………………………...5 Main strategies…………………………………………………………………………………………………………………….6
Site visit and company report 7 Value chain 7 Research and development 8 Production 8 Marketing 9 Distribution 9 Customer service 10 Corporate Social Responsibility 10 Costing systems 11
Recommendations 13
Conclusion 14
References 15

Executive summary

Cost management is a critical technique to every business firm; the main issue for manager making decision is cost control and profit maximization. This report aims to analyze the different cost occur in a real business based on a case study of Gearbulk Australasia Pty Ltd such as costing systems and value chain. The main methodologies we used in this project are face to face interview of the company’s line manager who called Bryan. It provides us lots of insights of cost control and business management of the company.

Gearbulk Australasia Pty Ltd was founded in 1998 in Victoria, which provide door-to-door logistics to achieve worldwide distribution to customer. For the internal analysis, we found that Gearbulk is providing high quality transportation services for various industrial sectors and it is a medium shipping company in Australia.
According to our research from IBISWorld, three major external environmental factors influencing industry change are identified: money exchange, economic situation and the politics. Facing the industry changes, Gearbulk Australasia Pty Ltd chooses cost leadership as its core competitive strategy.

Besides, our groups will analysis the processes of Gearbulk Australasia Pty Ltd value chain,
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Bus 475
    • 6138 Words
    • 25 Pages

    Bus 475

    This Sample Final Exam is provided as a resource to help familiarize students with the content areas and types of questions that they may encounter when they complete the comprehensive BUS/475 Final Exam in Week Five. The student version of the sample Final does not include the correct answers (as marked below in red). Please feel free to share the sample final questions and answers with your students.…

    • 6138 Words
    • 25 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    ACC 206 Week 5 Final Paper Cost Accounting
    • 673 Words
    • 3 Pages

    ACC 206 Week 5 Final Paper Cost Accounting

    Principles of Accounting II Cost Accounting Accounting is the accumulation and aggregation of info for decision makers including administrators, traders, authorities, loan providers, as well as the general public. Accounting systems impact behavior and administration and have effects across divisions, companies, and even nations. This report will provide the reader a knowledge regarding cost accounting. This report will talk about: Why is cost accounting so essential to the achievement of the company; what are the different ways of cost accounting and how are they utilized; how does an operating budget work in order to control a firms administration; what are the factors of a financial budget; how are financial budgets developed; what is variance analysis and the way its utilized. Cost accounting can be defined as the procedure of gathering, computing, assessing, interpreting as well as reporting cost info which is both helpful and related to the internal and external stakeholders of a business. Among the many advantages of cost accounting is that it converts data into info, knowledge and wisdom regarding a business entitys functions which is helpful for: gauging efficiency, decreasing or controlling expenses, deciding the charges or rates for services and goods, determining to approve, change or stop a plan or activity. One more advantage is that info on the costs programs as well as activities can be used as a foundation in order to approximate future expenses in organizing as well as analyzing budget requests. As soon as budgets are authorized as well as executed, cost info serves as a helpful comment on efficiency. In addition to that, costs might be compared to known or supposed advantages in order to identify value-added and non-value added actions.…

    • 673 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Discussion Board 1 BUSI 601
    • 370 Words
    • 2 Pages

    Discussion Board 1 BUSI 601

    Blocher, E., Stout, D., Juras, P., & Cokins, G. (2013). Cost management: a strategic emphasis (6th ed.). New York, NY:…

    • 370 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    BUSI 601 Individual Learning Project 1
    • 3568 Words
    • 13 Pages

    BUSI 601 Individual Learning Project 1

    References: Blocher, E., Stout, D. S., Juras, P.E., & Cokins, G. (2013). Cost Management: A Strategic Emphasis (6th ed.). New York, NY: McGraw-Hill Irwin.…

    • 3568 Words
    • 13 Pages
    Powerful Essays
    Read More
  • Good Essays

    Measurement and Decision Making
    • 344 Words
    • 2 Pages

    Measurement and Decision Making

    References: Blocher, E. J., Stout, D. E., Juras, P. E., & Cokins, G. (2013). Cost management: A strategic emphasis (6th Ed.). [E-textbooks] http://dx.doi.org/978-0-07-802553-2…

    • 344 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Cost Accounting
    • 2082 Words
    • 9 Pages

    Cost Accounting

    Prime costs of a company are $3,000,000, manufacturing overhead is $1,500,000 and direct labor is $750,000. What is the amount of direct materials?…

    • 2082 Words
    • 9 Pages
    Good Essays
    Read More
  • Powerful Essays

    Cost Accounting
    • 1884 Words
    • 8 Pages

    Cost Accounting

    Sub Micron Devices started its operations in mind 1980s. The company was located in Phoenix, Arizona, and had 400 employees by early 1996. The ASIC division of Sub-Micron Devices manufactured application-specific integrated circuits. A large part of ASIC’s output was transferred internally to the Systems Division which sold electronically scanning equipment to a variety of industrial clients. Originally, ASIC started out as a supplier to the Systems Division. In the late 1980’s, however, it became clear that ASIC would be able to venture into the external business in addition to satisfying the needs of the Systems Division. As a consequence, ASIC was transformed from a cost center into a separate profit center.…

    • 1884 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Google Case Study
    • 7767 Words
    • 32 Pages

    Google Case Study

    Porter’s 5 forces analysis.…………………..……………….……………………………..4 Involvement in foreign markets…………………………………………………………….6 PESTEL analysis………..……….………………………………………………………….7 Porter’s generic strategy evaluation……………………………………………………….9 SWOT analysis ...…...……………………………………………………………………...10 Value chain analysis………………………………………………………………………..11 Product/market…

    • 7767 Words
    • 32 Pages
    Powerful Essays
    Read More
  • Good Essays

    cost accounting
    • 4544 Words
    • 19 Pages

    cost accounting

    The range of costs included within a product costing system varies from one organisation to another. A comprehensive picture of product costs requires the inclusion of upstream and downstream costs. In practice many businesses confine their product costing systems to manufacturing costs. This is particularly true of small to medium-sized manufacturing businesses since more comprehensive costing systems cost more to implement and maintain. The costing systems that only include manufacturing costs produce the inventory valuations for external financial reporting required by…

    • 4544 Words
    • 19 Pages
    Good Essays
    Read More
  • Good Essays

    Active Sports Life Case Study
    • 977 Words
    • 4 Pages

    Active Sports Life Case Study

    The main idea of this research essay is to provide critical evaluation of the limitations as well as benefits of standard costing system of Active Sports Life which is currently engage in manufacturing of female sportswear. The reason behind analysis is the recent reduction in the sales revenue of this organisation. In due course, the Operations Manager has significantly issued a statement which states that the standard costing principles within the specific organisation are at relatively odds with the modern requirements of business like as continuous improvement and replying to the customer requirements. The major reason behind this research examination is to provide appropriate suggestions in reference to standard costing system taking in consideration the specific situational perspectives.…

    • 977 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Managerial Accounting case study ( Textile )
    • 1248 Words
    • 5 Pages

    Managerial Accounting case study ( Textile )

    A good understanding of the relationship between cost and activities in a company is necessary for managers in every type of organization and this clothing manufacturing company is concerned because they do not have this understanding and what benefits it has for guiding managers to understand the changes and effects different future business decisions and alteration of those decisions have on the expenses and profit but. Although there are benefits to finding and fully understanding these relations there might be problems on the way which will be discussed further on.…

    • 1248 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Credit Card and Petrol Station
    • 1307 Words
    • 6 Pages

    Credit Card and Petrol Station

    As an Area Manager of GEZ Bhd, a major oil company in Malaysia, in 2010, Mr Aiman was responsible for directing the sales activities of more than twenty petrol stations in the northern region of Malaysia. He was also responsible to train petrol station dealers and staff, initiate sales promotion and implement key initiatives to improve sales. Despite being a stable business with continuous increase in vehicles, often times, petrol station operators faced with the difficulty of sustaining the business, leading to the termination of the dealership license. The lack of knowledge in finance and costing, among others, contributed to business failures. Realising the importance of management accounting concepts and tools such as cost allocation and CVP analysis, Mr Aiman believed that the dealers and their relevant staff should have the knowledge in cost accounting. They should be able to differentiate between variable and fixed expenses, prepare a financial statement and perform a cost-volume-profit (CVP) analysis. To help the dealers perform the CVP analysis, an understanding of how to build and use a financial model associated with the analysis is an added advantage. In coming up with the data and building the financial model, Mr Aiman sought the assistance of Rizal, a trained management accountant.…

    • 1307 Words
    • 6 Pages
    Good Essays
    Read More
  • Powerful Essays

    Osim International
    • 3136 Words
    • 13 Pages

    Osim International

    Osim International Ltd. (Osim) is a Singapore listed company; a global leader in the healthy lifestyle products industry. It has been led since its inception by CEO Ron Sim, the company’s value driver, instrumental in bringing Osim to where it is today, greatly influencing its vision, mission and values with his personal touch. The company has expanded to more than 1,100 stores in more than 30 countries worldwide. Within the next 3 to 5 years, they plan to open over 50 outlets and further expand their subsidiaries, GNC and RichLife.…

    • 3136 Words
    • 13 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Cost Accounting
    • 1649 Words
    • 7 Pages

    Cost Accounting

    he objective of this report was to find out about the costing method and value chain of Vesta Apparels Ltd and analyze its key indicators to determine the riskiness of the company. Through the project, we learnt that Vesta Apparels uses Job order costing method to determine the cost of the product. We calculated the full cost for the primary product of Vesta Apparels, which was found to be $22.26 including the profit margin. We also tried to find the per unit cost of each value chain activities, based on assumptions and estimations. We found out the BEP in units to be 115,285 units, and margin of safety to be 59,175 units. Using the calculation of Degree of Operating Leverage value, we identified the company as a risky one. We evaluated the present costing system, taking its…

    • 1649 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Cost Accounting
    • 9310 Words
    • 38 Pages

    Cost Accounting

    Analysis of cost behaviour is important to all organizations for effective management. This is because many organizations have a unique cost structure. For example, fixed costs account for 60 – 80% of all hospital costs. However, unlike many organizations of this type, labour costs largely comprise the hospital’s fixed costs.…

    • 9310 Words
    • 38 Pages
    Powerful Essays
    Read More

Related Topics