Management Accounting
Executive Summary
The Cost Management and Product Management Accounting Techniques adopted by Puma are essentially reported on thereby describing the company’s strategic positioning and the challenges faced by Puma in implementing is techniques. PUMA was established in 1924 by founding brothers Schuhfabrik Rudolf Dassler and Adi Dassler and was renamed PUMA Schuhfabrik Rudolf Dassler in 1948 when Adi left the company to start his own shoe company, Adidas. This revolution of management came to understand the need for amalgamating accounting and management techniques. Strategic management accounting is the analysis of data regarding management accounting relating to a particular business as well as its competitors (Sharma, 2009).
Puma consistently develops innovative product and marketing campaigns to improve the brand profile and to continually increase product and brand desirability. Strategic Positioning concern performing different activities from rivals or performing similar activities in different ways. It is how a company will present itself to the market giving itself a competitive edge. The Business environment in which they operate is however large and therefore they cannot use the same concepts everywhere therefore decentralisation for day to day management is effective while IT systems can be used for centralised monitoring and coordination,
Introduction
Management accounting techniques were adopted and used to analyse and evaluate the business information of Puma. The results from the evaluation and analysis will be reported starting with the Company Profile Puma SE (PUMA) and its adaptability to business environment changes focusing on management accounting changes, technologies used management practices and its product life cycle.The Cost Management and Product Management Accounting Techniques adopted by Puma are essentially reported on thereby describing the company’s strategic positioning and the challenges faced by
The Cost Management and Product Management Accounting Techniques adopted by Puma are essentially reported on thereby describing the company’s strategic positioning and the challenges faced by Puma in implementing is techniques. PUMA was established in 1924 by founding brothers Schuhfabrik Rudolf Dassler and Adi Dassler and was renamed PUMA Schuhfabrik Rudolf Dassler in 1948 when Adi left the company to start his own shoe company, Adidas. This revolution of management came to understand the need for amalgamating accounting and management techniques. Strategic management accounting is the analysis of data regarding management accounting relating to a particular business as well as its competitors (Sharma, 2009).
Puma consistently develops innovative product and marketing campaigns to improve the brand profile and to continually increase product and brand desirability. Strategic Positioning concern performing different activities from rivals or performing similar activities in different ways. It is how a company will present itself to the market giving itself a competitive edge. The Business environment in which they operate is however large and therefore they cannot use the same concepts everywhere therefore decentralisation for day to day management is effective while IT systems can be used for centralised monitoring and coordination,
Introduction
Management accounting techniques were adopted and used to analyse and evaluate the business information of Puma. The results from the evaluation and analysis will be reported starting with the Company Profile Puma SE (PUMA) and its adaptability to business environment changes focusing on management accounting changes, technologies used management practices and its product life cycle.The Cost Management and Product Management Accounting Techniques adopted by Puma are essentially reported on thereby describing the company’s strategic positioning and the challenges faced by
Bibliography: 1. Noreen, Eric. (2003)Conditions under Which Activity- Based Cost Systems Provide Relevant Costs.” 2. Mullen Rick (2003) “Popoff: Include the Environment to Realize the Real Cost of Products.” Chemical Week 3. Paluzzi, Joseph E., and Timothy J. Greiner. (2005) “Finding Green in Clean: Progressive Pollution Prevention at Hyde Tools.” Total Quality Environmental Management 4. Abelson, Reed (2012) “Messy Accounting.” Forbes 148 5. Ansari, Shahid L., Bell, Jan, (2007) Management Accounting, a Strategic Focus, McGraw-Hill/Irwin 6. Garrison, Ray H 7. Hilton, Ronald W (2002) Managerial Accounting, Creating Value in a Dynamic Business Environment, 5th Ed., McGraw-Hill/Irwin 8. Horngren, Charles T., Harrison Jr., Walter T., & Bamber, Linda Smith (2002) Accounting, 5th Ed., Prentice Hall 9. Jackson, Steve & Sawyers (2003)Roby, Managerial Accounting, A Focus on Decision Making, 2nd Ed., Thomson-South-western, 10. Shim, Jae K 11. Weygand, Paul D(2005) Managerial Accounting, Tools for Business Decision Making, John Wiley & Sons