Activity Based Costing for Activity Based Management Meiklejohn Paul‚ Director Management Consulting 17 February 2012 Agenda 1. What is Activity Based Costing (ABC)? 1.1 What is ABC and Why should it be used? 1.2 Traditional costing vs ABC 1.3 Activity based costing processes 2. How ABC should be used to manage (Activity based management)? 2.1 When to use ABC? 2.2 How to use ABC for ABM? 2.3 Scoring High - Low value adding activities 2.4 Activity Based Management applications 3. ABC/ABM implementation
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The Different Aspects of Pricing that Could Change the Way a Business Functions Literature Review Outline: Summaries: 1. Summary of "Does Promotional Pricing Grow Future Business?". 2. Summary of "Dueling Pricing Strategies". 3. Summary of "Multiple-Choice Pricing". 4. Summary of "Medium Sized Companies Increase Market Share by Pricing Strategy". 5. Summary of "Managing Costs Using Common "Cents"". Articles: Article: "Does Promotional Pricing Grow Future Business?". Article:
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Communication is a two way process of giving and receiving a message‚ such as exchanging ideas of information. This can be done by text messaging‚ emails‚ letters‚ face to face etc. (Rasheed et al‚ 2010‚ pg.2) Interpersonal communication is an effective way between two people to communicate. The interpersonal communication also involves mirroring and reflective listening and it also involves applying the communication cycle in ways that ensure that your message has been understood. Did you know
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The Achievements of Alfred Hitchcock Alfred Hitchcock‚ born in 1899 in England‚ remains a prominent figure in the world of cinema. Hitchcock’s passion for film began in his childhood with his first job as writer of the title cards for silent films and‚ later on‚ becoming a director. Influenced by his Catholic upbringing‚ Hitchcock developed a sense of guilt and sin throughout his life with which he portrays in his work (Kehoe N.P.). As the leading director in the 1930’s‚ Hitchcock set the standard
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ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries
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of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding fiscal reporting period." Percentage of sales method is a good way to see an estimate
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The Maya: Greatest Achievements The Mayan tribe are an ancient people who lived around 1800 BC to 900 A.D. The most remarkable thing that the Mayans did was their money system. The second most important achievement that the Mayan had was their calendar. The Mayan made two main calendars‚ one for rituals called tzolkin‚ and a solar calendar called haab. Based on this they made their years and times. The Mayan were extremely smart and way beyond their time. “The Maya priest-astronomers collected
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Assignment: 3-1:Submission - Answer the following of questions: 1- Describe the function of planning and its importance in the strategic management process. Planning & Strategic Management planning‚ which we previously defined as setting goals and deciding how to achieve them. Another definition: Planning is coping with uncertainty by formulating future courses of action to achieve specified results. strategic management is a process that involves managers from all parts of the organization-top
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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Managing Cost of Quality: Insight into Industry Practice Andrea Schiffauerova *‚ Vince Thomson ** * École Polytechnique de Montréal‚ Department of Mathematics and Industrial Engineering‚ Montreal ** Department of Mechanical Engineering‚ McGill University‚ Montreal‚ Canada Article Reference: Schiffauerova‚ A. and Thomson‚ V.‚ “Managing cost of quality: Insight into industry practice”‚ The TQM Magazine‚ 2006 Abstract This paper reports on the study of the quality costing practices at four large
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