1- Management Accounting in Context Budget Quantitative expression of a proposed plan of action by management for a specified period and an aid to coordinating what needs to be done to implement that plan Chartered Institute of Management Accountants International professional body of management accountants with members in 165 countries‚ including Australia Chief Financial Officer Executive responsible for overseeing the financial operations of an organisation. Also called financial director Control
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SUBJECT CODE & NAME BK ID CREDITS MARKS FALL 2014 MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q.No Questions Marks Total Marks 1 Analyze the following transaction under traditional approach. 18.1.2011 Received a cheque from a customer‚ Sanjay at 5 p.m. Rs.20‚000 19.1.2011 Paid Ramu by cheque
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AC1010 Financial and Management Accounting for Managers Course Work for Semester 2 Submitted by: Emerson K.Yip G-number: Date: May 1‚ 2013 Table Content : Page 1. Calculation of Standard Cost per unit for each of the products 3 2. Reconciliation Statement between Standard cost at actual 7 production and Actual Cost of Production. 3. List of possible reasons for each of the variance
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I. Total Quality Management(TQM) * Definition: TQM is a set of management practices throughout the organization‚ geared to ensure the organization consistently meets or exceeds customer requirements. TQM places strong focus on process measurement and controls as means of continuous improvement. TQM functions on the premise that the quality of products and processes is the responsibility of everyone who is involved with the creation or consumption of the products or services offered by an
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References: 1. Drury‚ C.‚ 2004. Management and Cost Accounting. 6th Edition. Thomson Learning. Italy: G Ganale & C 2. Drury‚ C.‚ 1998. Costing: An Introduction. 4th Edition. London: Thomson Business Press 3. Izhar R.‚ Hontoir J.‚ 2001. Accounting‚ Costing‚ and Management. 2nd Edition. New York: Oxford Unversity Press
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Management Accounting and the Modern Business Environment Part-I Over the years global business environment has gone through some massive changes. These changes are due to changes in socio-economic situations‚ changes in consumers’ demands‚ changes in technological environment‚ changes in political scenario etc. Today’s business environment is referred to as the modern business environment which is characterized by globalization‚ advanced technology‚ intense competition‚ powerful customers and consumers
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Environmental Management Accounting Environmental Issues * Global Warming * Air and water pollution * Waste Disposal and treatment Examples- Bhopal (leakage of chemical gas)‚ Exxon Valdez (spilling 10.8 million gallons of oil)‚ Fukushima Nuclear Plant leakage in Japan (2011) Issues for Business: Businesses are becoming more and more conscious of the environmental implications of their operations‚ products and services. Environmental risks cannot be ignored. Consequences of
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Australian School of Business School of Banking and Finance FINS 3635 OPTIONS‚ FUTURES AND RISK MANAGEMENT TECHNIQUES Course Outline Semester 1‚ 2012 Part A: Course-Specific Information Part B: Key Policies‚ Student Responsibilities andSupport Table of Contents PART A: COURSE-SPECIFIC INFORMATION 1 2 2.1 2.2 2.3 2.4 2.5 3 STAFF CONTACT DETAILS COURSE DETAILS Teaching Times and Locations Units of Credit Summary of Course Course Aims and Relationship to Other Courses Student Learning Outcomes
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Identify and classify different types of cost incurred in Foxwood Company with an appropriate cost classification There are many concepts of cost in an organization. Costs also are used in different business applications‚ such as financial accounting‚ cost accounting‚ budgeting‚ capital budgeting‚ and valuation. Consequently‚ there are different ways of categorizing costs according to their relationship to output as well as according to the context in which they are used. Following this summary of the
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defined by executives and communicated to the management. There is no goal other the cost reduction at total company level as well as at departmental level. Managers don’t see connection between expenses‚ revenues and overall company’s profitability. As a result managers are frustrated because instead of help that budget is suppose to bring it creates problems. Managers don’t participate in budget’s development; it is purely a task of an accounting department which sets up performance goals for
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