The following essay explains the importance of cost accounting for stakeholders of Multinational Companies‚ particularly the shareholders & the customers. Who are the stakeholders of an organization? according to (Freeman 1984) stakeholder is “any group or individual who can affect or is affected by the achievement of the firm’s objectives” going by this definition stakeholders of a company would include lenders‚ creditors‚ customers‚ shareholders‚ government‚ media‚ political groups‚ local charities
Premium Costs Cost accounting Management accounting
The impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries‚ before the inception of Information and Communications Technology (ICT)‚ the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports‚ carried out during accounting year ends‚ the preparation of accounting records‚ book such as the profit and loss account‚ the balance sheet
Premium Management Economics Bank
TOPIC: ACTIVITY-BASED MANAGEMENT INTRODUCTION Activity based management (ABM) is an approach to management that aims to maximize the value adding activities to the customers while minimizing or eliminating non-value adding activities. The objective of ABM is to improve the efficiency and effectiveness of an organization in securing its markets. It draws on activity based-costing (ABC) as its major source of information and focuses on managing activities to (1) reduce costs‚ (2) create performance
Premium Management accounting Process management Costs
ACCOUNTING 569 MIDTERM 1 FALL 1995 NAME ______________________ ID # I. 15 Points 1. Otis Corp. has the following data: Selling price $50/unit Variable manufacturing costs $20/unit Fixed costs: Manufacturing $100‚000 Selling and admin. $ 50‚000 a.(3 points) The breakeven point is: b.(3 points) Given a volume of 15‚000 units‚ operating leverage is: c.(4 points)
Premium Variable cost Costs Cost
Thomas Edison State College Principles of Managerial Accounting (ACC-102) Final Project 1. Cost-volume-profit relationships (15 points) The following data are available for a product manufactured and sold by Logan Company: Compute the following: (a) Contribution margin per unit: $_______________ Solution: Computation of the Contribution margin per unit Contribution margin per unit = Selling price per unit – Variable Cost per unit Where as Selling price per unit = 212 Variable Cost per
Premium Variable cost Costs Cash flow
Introduction Thirty years ago‚ most financial accounting was done manually‚ leading to a great deal of paperwork. Currently‚ most accounting information is recorded via computers and wide area networks (Journal of Accountancy‚ 1994a). Technology has certainly changed the face of accounting over the years. While it is unclear whether technology’s impact on accounting has been positive or negative‚ it is clear that technology has drastically changed the accounting profession. Often a technological advance
Premium Accountancy Accountant Computer
headings and references (Total 8 pages) ANNOVIM PLC ANNOVIM PLC INTRODUCTION Managers in Annovim Plc have to understand since the early 1980s a number of ‘innovative’ management accounting techniques have been developed such as activity-based techniques (costing‚ budgeting and management)‚ strategic management accounting and the balanced scorecard. From the context of the assignment‚ each division is regarded as a profit centre‚ where the divisional managers of the three divisions i.e. candy
Premium Management accounting Management Cost accounting
Course Subject: Accounting for Decision-making Course Code : GSM5301 Group : 8 Case Study : Prestige Telephone Company Background of Case Study In April 1997‚ president of Prestige Telephone Company (PTC)‚ Daniel Rowe‚ was making arrangements to meet with its computer data service subsidiary Prestige Data Services’ (henceforth PDS) manager Susan Bradley. This subsidiary performs data processing for the telephone company and sells computer services to other companies. In 1994‚ Rowe suggested
Premium Variable cost Costs Management accounting
Chapter 1 Accounting Information Systems and the Accountant INTRODUCTION WHAT ARE ACCOUNTING INFORMATION SYSTEMS? Accounting Information Systems—A Definition Accounting Information Systems and Their Role in Organizations CASE ANALYSES The Annual Report Universal Concrete Products Ross‚ Sells‚ and Young‚ LLP REFERENCES AND RECOMMENDED READINGS ANSWERS TO TEST YOURSELF WHAT’S NEW IN ACCOUNTING INFORMATION SYSTEMS? Suspicious Activity Reporting Countering Terrorism Corporate Scandals and Accounting The
Premium Accounting software Management accounting Information systems
activity‚ costs and prices of products. What effects can this manufacturing company expect on their profit if they add a new production line or they alter the machines and variable expenses change? All these questions are addresses using managerial accounting technique called cost volume profit. 2-1 Cost Behavior‚ benefits and difficulties ahead Change in organizations activity like designing or producing new type of clothing can affect costs of this manufacturing company. The relationship between
Premium Contribution margin Management accounting Cost-Volume-Profit Analysis