ACC00146 – Management Accounting.

Added on - 16 Sep 2019

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ACC00146 – Management AccountingS3, 2016Assignment 2 (20 marks)Question 1 (5 marks)What function does feedback play in the work of the manager and who provides it?Discuss. Your discussion must be supported by the relevant readings and real worldexamples. You must disclose the source of your information by referencing.Question 2 (5 marks)What is the difference between the contribution approach to the profit and lossstatement and the traditional approach to the profit and loss statement? And whythe contribution approach is preferred by the managers. Discuss. Your discussionmust be supported by the relevant readings and real world examples. You mustdisclose the source of your information by referencing.Question 3 (5 marks)Valcor company produces a product which has peak sales in March of each year.The company’s budgeted sales for the first quarter of 2013 are given below:JanuaryFebruaryMarchTotalBudgeted sales$50,000$65,000$75,000$190,000In order to have data available for preparing a cash budget, the company is keen todetermine the budgeted cash collections from sales. To this end, the followinginformation has been assembled:Collections on sales:60% in month of sale30% in month following sale8% in second month following sale2% uncollectableThe company gives a 2 percent cash discount for payments made by customersduring the month of sale. The account receivable balance to start the year is$22,000, of which $4,000 represents uncollected November sales and $18,000represents uncollected December sales.
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