Topic 6: Management Accounting and Cost Case: Shelter Partnership a. My main learning outcomes from Topic 6 and the Case Study; 1) Firstly‚ I realize management accounting has much to offer. Somehow I can handle physics but not accounting. Now thanks to this course I can appreciate and make sense of it. The bit that really caught my attention was seeing how management accounting can be really useful for business planning‚ cost management‚ budgeting and performance measurement. It offers
Premium Cost Cost accounting Costs
Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
Premium Costs Parking Variable cost
The eightfold path is an essential part of Buddhism. It is one of Buddha’s principal teachings. The eightfold path is a guideline to ethical and mental development with its goal being to free individuals from their attachments and delusions. When the path is followed it eventually leads one to understanding the truth about all things. Only through practice can one attain a higher level of existence and finally reach Nirvana and for that reason much emphasis is put on the practical aspect of the eightfold
Premium Noble Eightfold Path Four Noble Truths Gautama Buddha
Is a greying UK population a time bomb waiting to go off? A greying population is where as more people are live longer‚ the average age of the population increases. There are more elderly people. The UK’s population is greying. In 2010 the average population age was 39.9 projected to increase to age 42.2 by 2035. The UK’s population is greying because of the improvement in quality of life. Life expectancy is a lot longer because of things like better healthcare. 10 million people in the UK
Premium Retirement Aging Gerontology
Trade is a critical component in spreading beliefs and cultural customs across many distinct regions. Tradesmen were the people who would usually pass on the ideas that they heard or spoke about with the men that they traded with. Mali was an area of Africa that was greatly influenced by outside regions. The trade connections that Mali had with the Middle East spread Islam in the region and the connection with Northern Africa influenced Mali’s political structure. The Islamic religion was spread
Premium Africa Islam Silk Road
rises rapidly after puberty in girls‚ but not to the same extent as boys. Epidemiology is greatly concerned with understanding individuals and illnesses and the causes of illness. Whilst clinical medicine asks‚ “what is wrong with this person‚ and how should I treat him/her?” Epidemiology asks‚ “What is wrong
Premium Schizophrenia Mental disorder Psychology
Compare/ assess HSBC and Citi-corps IT strategies. Do they invest in IT primarily as a way of cutting costs and improving their operational efficiencies‚ or do they invest strategically with a view to entrench their competitive positions? As noted in the conclusion of the article written by the Asia Case Research Center and the University of Hong Kong HCBC and Citigroup have both developed into global financial institutions. Both organizations have heavily invested in Information Technology and
Premium Bank Strategic management Investment
accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable cost‚ fixed cost‚ overheads and capital cost‚ which is beneficial to calculate the cost and control the cost. And in another part of accounting‚ financial accounting‚ we record the business and make the financial statements through this kind of approaches. There are lots of similarities and differences between these
Premium Income statement Balance sheet Management accounting
CRITICAL PATH ANALYSIS To be completed successfully‚ a project needs to be planned and managed‚ costs determined and times allocated‚ problems dealt with and‚ eventually‚ concluded. Formal methods of managing a project offer clear guidelines and deadlines. The key elements of project management include: • defining the project carefully‚ including the setting of clear objectives • dividing the project up into manageable tasks and activities • controlling the project at every stage to check
Premium Project management Critical path method Construction
Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
Premium Costs Cost accounting Cost