• Finance
    - Features: 1. Wholistic: The technique deals practically with all the elements of budget proposals. 2. Analytical: A critical evaluation of all the ongoing activities is also done afresh together with new proposals. Each manager has to justify whey he should spend any money at all. 3. Priority...
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  • Role of Management Accountant
    ’ 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...
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  • Corporate Management in Action Coca Cola
    methodology to support the effective management and control of resources. Indicative content: Appreciate the role of activity based management and use activity based cost approaches to support re-engineering, product costing, budgeting and benchmarking. Use cost management methodology to support lean...
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  • Messers
    made. The flexed budget forms the basis for standard variance analysis (ie ‘actual activity should have cost…’) Flexed budgets 190 10: BUDGETING Lecture example 1 Introductory level exam technique question Chateau Larnaque has a bottling plant for its wine and has prepared...
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  • Cima
    . Overhead costs and the high-low method of cost estimation • There are various techniques for estimating fixed and variable overhead costs for a flexible budget. You will be expected to know the high-low method, and how it might be used for variance analysis with flexible budgeting. • The high-low method...
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  • Paper
    installed. The 2 cement posts costs $250 to install and take oneday for both to be installed. At the end of day three one side of the fence and 2/3 second side have been completed , What is the current status of the project? A. the budget is on target with a 0 schedule variance. B. It is behind...
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  • Mr Harvey
    this process is the activity cost estimates and the basis of estimates that details all the support information related to the estimates. The tools and techniques of the Determine Budget process include cost aggregation, reserve analysis, expert judgment, historical relationships, and funding limit...
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  • Health Fiance Study Guide
    Analysis and Cost Variance * Financial Sources * Fixed or static budgets * Financial Theories and Concepts * Flexible budgets * Zero-based budgets * Variance analysis * Cost control 9. Areas that were discussed in the threads will be prime targets. 10. Assignments...
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  • Certified Accounting Technician Examination
    sufficient raw material stock to meet the following month’s production. The estimated variable costs and selling prices per unit for shirts and shorts are as detailed above. Required: Prepare the following budgets on a monthly basis for each of the three months April to June 2005: (i) A sales budget...
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  • Grt Task 1
    use to assist with quality planning? (Select THREE). A. B. C. D. E. F. Peer review Critical Chain Method (CCM) Inspection Performance Evaluation and Review Technique (PERT) Work Breakdown Structure (WBS) Benchmarking Correct Answer: ACF QUESTION 360 Which of the following risk response strategies...
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  • Aviationlink®, Encourages People to Travel in Style – Regional Expansion Project (R-E-Project)
    mixed up with ‘benchmarking’ to which it is similar. Further in his book, he concludes gap analysis technique as “This is where I want to be. This is where I am. The difference is the gap which I want to close”. Koenig (2003, p. 297) Gap analysis is carried out by understanding the future state...
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  • Performance management
    management time that is required to prepare a zero based budget, an entity may decide to produce a zero based budget periodically, say every three years, and to prepare incremental budgets in the intervening years. In order to maintain the support of budget cost centre managers for a system of ZBB...
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  • Project Management
    to P15–31C identify the status of part of a project using the graphical technique (i.e. S curves) rather that tables. For each of the three figures, select from one of the following fives choices as to what each figure illustrates: a. Over budget b. Under budget c. Ahead of schedule d. Behind...
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  • Accounting Summary
    support department bears all the risk, because user department does not pay for costs that exceed the budgeted rates b. Actual rates: i. User departments will not know the rates charged until the end of the period ii. User department bears all the risk of variances from budgeted amounts 3) Budgeted...
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  • Research Papers
    Informal Benchmarking (68%). Performance Benchmarking was used by 49% and Best Practice Benchmarking by 39%. 2. The tools that are likely to increase in popularity the most over the next three years are Performance Benchmarking, Informal Benchmarking, SWOT, and Best Practice Benchmarking. Over 60...
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  • Acca Notes
    costing and variance analysis ⏐ 13: Behavioural aspects of standard costing 323 Question Hours worked Production Wages cost Operational and planning variances A new product requires three hours of labour per unit at a standard rate of $6 per hour. In a particular month the budget is to...
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  • Chapter 8
    the particular asset did not justify the cost of protection Quick Quiz 2. What are the four basic strategies available for controlling risk? ANSWER: Avoidance: applying safeguards that eliminate or reduce the remaining uncontrolled risks for the vulnerability, Transference: shifting the...
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  • Cape Mob 2013 Syllabus
    , while the material usage variance was $224.00 adverse. In addition, the labour rate variance was $985.00 adverse. (a) (b) (c) State THREE reasons for EACH of the THREE variances. (9 marks) Outline THREE reasons why it is important to prepare a budget. (9 marks) Discuss TWO reasons why some managers...
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  • Chapter 14 Operational Performance Measurement: Sales and Direct-Cost Variances, and the Role of Nonfinancial Performance Measures
    knowledge or analysis of value-stream costs sufficient for prioritization. The flexible budget variance analyses used for cost control in RCA systems does not support lean business practice. In businesses using lean techniques, RCA systems can provide marginal cost information that could be...
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  • Conflict Process and Management
    , when the choice is made, “decision regret” may occur. The option not chosen now becomes more attractive, simply because it was not chosen. Decision regret may lead decision makers to reconsider the positive aspects of the chosen option and give them more weight to justify and validate the decisions...
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