per kilogram). The other variable costs (costs of packing) are € 0.02 per meat roll. All produced meat rolls will be sold instantly: There is no inventory/stock of meat rolls. The budgeted indirect fixed costs are distributed as follows: Costs management | € 200‚000 | | Costs administration | € 150‚000 | | Costs production installation | € 150‚000 | | Costs production staff | € 700‚000 | | Costs sales department | € 200‚000 | | Total budgeted fixed indirect costs | | € 1‚400‚000
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costs Accounts Nature or Classification Amount in Tshs 000 Administration expenses 0% variable 120‚000 Marketing expenses 40% variale 100‚000 Depreciation costs 0% variable 80‚000 During the year 2013‚ Ujamaa Ltd produced 80‚000 bags. Management is forecasting sales price for the year 2014 based on 2013 cost data. The following additional data is available for the year 2014 compared to the data for the year 2013 1. Price for direct materials are expected to increase by 10% 2. Under
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differences between management accounting and financial accounting include:[1] 1. Management accounting provides information to people within an organization while financial accounting is mainly for those outside it‚ such as shareholders 2. Financial accounting is required by law while management accounting is not. Specific standards and formats may be required for statutory accounts such as in the I.A.S International Accounting Standard within Europe. 3. Financial accounting covers the entire
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Management accounting systems Case Analysis: HSBC Bank Student Name: Course: Academic Year: Module: Date of Submission: Executive Summary Management accounting over the years has really emerged very significantly in the field of banking and finance. There are numerous objectives and significance that has been reflected in numerous literatures mentioning the primary strategic and management significance management accounting has brought to the table in the field of international finance. As
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PART B Keavney Ltd has been operating using the conventional costing system to evaluate its product costs. As a management accountant different‚ more accurate costing systems can be implemented to suit the company and its products. In regards to Keavney’s three products Gammy‚ Tiggy and Whinny the implementation of a new costing system ABC will show how misleading the conventional costing system can be. Before implementing the ABC costing system we will analyse product performance based on its
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Managerial and Financial Accounting ACCT/300: Principles of Accounting April 9‚ 2008 Managerial and Financial Accounting This paper will attempt to differentiate between managerial and financial accounting‚ the users of managerial and financial accounting and what type of business decisions would be made with the information. Managerial Accounting Managerial accounting provides accounting information to managers who are inside an organization and who directs and controls its operations
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subject called introduction to finical accounting. For me‚ this is the first time I had chance to learn this subject‚ before that I just heard some information about IFA by reading the FT newspaper and watching the news. When I start learning that‚ this subject gives me the impression that it is difficult to understand. During the past few months‚ I can say I already mastered some of the skills in IFA. I can still remember the first lecture I had learned was the definition of the “Accounting Equation”
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"Financial accounting produces information for external parties such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies" (Horngren‚ Sundem‚ & Stratton‚ 2005‚ p. 5). "Financial accountants prepare financial statements based on general ledgers and participate in important financial decisions involving mergers & acquisitions‚ benefits/ERISA planning and long-term financial projections"(Accounting: Job Options‚ 2000). These reports are used by owners of a business‚ or by people who
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CHAPTER 4 CHANGES FACING MANAGEMENT ACCOUNTANTS IN POSTMODERN TIMES 4.1 INTRODUCTION In seeking answers to typical questions associated with morphogenic change (see paragraph 3.2)‚ it becomes apparent that business‚ and consequently management accountants‚ have been faced by a confluence of forces of change during the past decade. Chapter 3 defined change‚ and more particularly the concept of morphogenic change. The three major drivers of change were discussed in paragraph 3.3‚ namely computer
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information automatically is called Management Information System (MIS). Management Information System is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organisation. Management information systems may provide the information needed to manage organizations with efficiently and effectively. Management Information System may classify to three primary resources which are technology‚ information‚ and people. Management Information System is regarded
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