Cost Accounting Level -1 Sep - Jan 2014 Semester. Module Name Cost Accounting Level -1 Module Code AC 02-1 Assessment No. I Weighting 40 % Assessment Type: INDIVIDUAL STUDENT MCUC NUMBER: Please note that a grade will only be given to those whose student number is noted on this form. Please ensure that the student numbers from all group members are recorded accurately. 2012868 Submission Date: 3rd Dec
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classified into two main categories. The ARR and payback period are non-discounting methods whereas the NPV and IRR are discounting methods. The ARR method measures the accounting profit rate by dividing the average income by the average investment (Hansen and Mowen‚ 2007‚ p. 568). The method is simple to use but has major limitations. It ignores the time value of money which is a major drawback in case of projects with long lives. Also‚ a benchmark rate is required for comparison. The payback period
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PRIVATE STRATEGIC COST MANAGEMENT Activity-based costing (ABC) was introduced in Chapter 4. ABC can significantly improve the accuracy of product costing. Yet‚ the value of traditional product cost definition is limited and may not be very useful in certain decision contexts. Strategic planning and decision making require a much broader set of cost information than that provided by product costs. Chapter 11 focuses on a value-chain framework with cost data to support a value-chain analysis.
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References: Edmonds‚ T.; Olds‚ P. & McNair‚ F. (2012). Fundamental financial accounting concepts. Kindle Edition. Hansen‚ D. R. & Mowen‚ M. M. (2006). Cost management accounting and control. Ohio: Thomas South-Western. Kimmel‚ P.D.‚ Weygandt‚ J.J. & Kelso‚ D.E. (2010). Financial accounting: Tools for business decision-making (5th ed.). John Wiley Sons: Hoboken‚ NJ. Leslie‚
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Chen‚ J. (2012). What cost behavior model do analysts and investors use? Working paper‚ Temple University. Cooper‚ R.‚ & Kaplan R. S. (1992). Activity based systems: Measuring the costs of resource usage. Accounting Horizons‚ 1–13 Garrison R Hansen‚ D. R.; Mowen‚ M. M. & Juan‚ L. (2009). Cost management: accounting and control. 6th edition‚ Horngren‚ C Lucey‚ T. (2007)‚ Management Accounting‚ Britain: Book Power. Maher‚ M. W.‚ Stickney‚ C. P.‚ & Weil‚ R. L. (2008). Managerial Accounting: An Introduction
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carried in the organization. The costs systems operate by taking total cost as basic for calculation. Costing is essential for every organization‚ as every manufacturing and other department has to be assigned accurate budget for proper operation (Hansen‚ Mowen and Guan‚ 2006). Costing system provide information that is useful to managers for minimizing waste and allocating resources to different departments. However‚ it is important for the managers to understand that the resources necessary for designing
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PART A INTRODUCTION OF PERFORMANCE MEASUREMENT Growing global competition has affected the organisational structure. Companies have moved to divisional structure‚ which generates the need for top management to assess the divisional performance. Divisions tend to be categorised into either a profit centre or an investment centre. While some measure of profit is used to measure the performance of profit centres‚ for investment centres many firms employ measures that are based on profit and invested
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References: 1. Kim Langfield Smith‚ Helen Thorne‚ Ronald W. Hilton (2006)‚ Management Accounting‚ 4th Edition‚ McGraw Hill 2. Articles from Professional Journals. 3. CPA Australia/CIMA/ACCA modules. 4. Don R. Hansen’ Maryanne M. Mowen (2000)‚ Management Accounting‚ 7th Edition‚ South-Western College Publishing. 5. Drury‚ C. (2004)‚ Management and Cost Accounting‚ 6th Edition‚ Thomson Publishing. 6. Hilton‚ R.W (2005)‚ Managerial Accounting: Creating Value in Dynamic Business
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Contents Page Page 1 Executive Summary 5 2 Introduction 6 3 Current Costing System 7 3.1 Limitations 7 3.2 Potential Consequences 8 4 Activity Based Costing System 9 4.1 Appropriate Approach 9 4.2 Overcome Consequences 10 5 Tables 5 and 3 11 6 Analysis 12 6.1 Current Costing System 12 6.2 Activity Based Costing System 12 6.3 Differences in Total Product Costs 13 7 Recommendation 14 8 Conclusion 15
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Asian Economic and Financial Review 2(7):741-750 Asian Economic and Financial Review journal homepage:http://aessweb.com/journal-detail.php?id=5002 AN EXAMINATION OF THE FACTORS THAT DETERMINE PROFITABILITY OF THE NIGERIAN BEER BREWERY FIRMS THE Okwo Ifeoma Mary.1 Ugwunta David Okelue2 Agu Sylvia Uchenna. 3 ABSTRACT This paper examines the internal factors that determine the profitability of the beer brewery firms in Nigeria. An OLS in the form of multiple regressions were applied
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