Cost Accounting Techniques and Analysis

This assignment delves into the realm of cost accounting, exploring various costing methods such as job costing and batch costing. It examines the significance of budgets in financial planning, particularly within the beverage industry. The assignment also incorporates data analysis techniques and research methodologies to evaluate the effectiveness of different costing approaches and budgeting strategies.

Accounting and Business Analysis

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................4
TASK 1............................................................................................................................................4
1.1 Creating the plan for collection of primary and secondary data............................................4
1.2 Choosing appropriate survey methods, sampling techniques and questionnaire...................5
1.3 Collecting data using plan and sampling methods.................................................................6
1.4 Producing a report summarizing the findings and rationale and conclusion.........................6
TASK 2..........................................................................................................................................10
Comparing different formats of financial statement and their appropriateness for different type
of business..................................................................................................................................11
1.3 Interpreting and comparing financial statements using appropriate ratios..........................12
TASK 3..........................................................................................................................................14
2.1 Classifying different types of cost.......................................................................................14
2.2 Using different costing methods to calculate cost with the suitable methods.....................14
2.3 Selecting appropriate budgeting methods for an organization and preparing budgets.......16
TASK 4..........................................................................................................................................17
3.1 Analyzing budgets and making appropriate decisions.........................................................17
3.2 Calculating the unit cost and making pricing decision using relevant information............18
3.3 Assessing the viability of a project using investment appraisal techniques.......................19
3.4 Analyzing sources of finance available to business.............................................................21
TASK 5..........................................................................................................................................21
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Accounting and business analysis plays important role in the success of the business
under which varied kind of data are collected for the purpose of meeting specific objectives of
the business. The accounting department deals with costing, investment and other financing
related activities of the business. The present report is based on Sainsbury which is the second
largest chain of the supermarket in the United Kingdom. This business deals with several kind of
food and grocery products. The report under investigation aims to expand the business in the
London with opening its small new branch. In this regard, varied accounting tools or information
related to cost have been applied to reach the valid outcome. Furthermore, appropriate data are
collected through which researcher can take out the valid outcome.
TASK 1
1.1 Creating the plan for collection of primary and secondary data
The plan of data collection is very important which provide valid information so as to
reach the valid outcome. The data collection procedure consists of information related to both
primary and secondary data. Data collection can be defined as the process of collecting data from
various sources and preparing it to be used for the further processes (Scarpa and Azzalini, 2012).
Data gathering should follow systematic approach so that the obtained data is organized and well
recorded. The purpose of collecting data is to make information and data available that can be
used in decision making process and solve various problems. Data can be classified into two
categories: The below mentioned sources are referred for the purpose of collecting data- Primary data-There are different sources of primary data which can be used researcher to
draw the valid outcome. These sources cover questionnaire, interview and survey etc.
The selection of right kind of method is done in accordance with the research aim and
objectives. This leads to cater the requirement of all related parties ans support scholar in
deriving the valid outcome (Srivastave, 2011). The current report on the expansion
project of Sainbury, questionnaire method will be used under which open and close ended
questions will be added.
 Secondary -The sources used for the collection of secondary data cover journals, books
and online articles. This is helpful for researcher to gather the valid information and

accordingly reach the outcome of the investigation. The proposed plan of expansion
assists management of Sainsbury to collect information related to available fund and
accordingly use of financial statements and competitors data are useful (Sobh and Perry,
2006).
1.2 Choosing appropriate survey methods, sampling techniques and questionnaire
The survey methodology applied for the current project of Sainsbury is questionnaire
under which management of the business will focus on internal department only (Jackson, 2010).
For this purpose, questionnaire consisting at least 5 questions will be distributed among the
respondents and they will be asked to reply on the same by filling the questionnaire online.
Here, the selection of respondents is done on the basis of probabilistic sampling under
which 10 managers from the different department will be selected (Goddard and Melville,
2004). The specific research design is simple random so as to reduce the chance of bias from the
study. In addition to this, simple and systematic questionnaire will be developed. Sample size for
the research is selected in an appropriate through which overall population can be represented
(Johnson and Christensen, 2008). Moreover, questionnaire has been mentioned as follows-
Name____________________
Age
 18-30 Years
 31-35 Years
 36-40 Years
 41 and above
1. Which pricing strategy is beneficial for the business?
 Cost plus mark up
 Premium pricing
 Penetration
 All of the above
2. Do agree that application of investment appraisal techniques reduces uncertainties?
 Strongly agree
 Agree

 Neutral
 Disagree
 Strongly disagree
3. Which of the following method is most suitable for selecting the right option?
 Net present value method
 Internal rate of return
 Payback
 All of the above
4. Do you think that cost can be controlled?
 Yes
 No
 Can't say
5. Do you feel that analysis of financial statement is enough for the analysis of entire business?
 Yes
 No
 Can't say
1.3 Collecting data using plan and sampling methods
The data collected from the primary research are explained as follow in the form of
graphical representation. This is helpful for scholar to reach the valid outcome and accordingly
produce the end results so as to implement the appropriate for the well being of the business
(Viviers and Cohen, 2011). Furthermore, simple random sampling has been applied for the
purpose of collection of primary data under which chance of bias is reduced to a great extent.
This reflects the validity and reliability of the collected information so as to meet the aim and
objectives.
1.4 Producing a report summarizing the findings and rationale and conclusion
Theme 1: Cost plus market up pricing strategy is beneficial for the business

The majority of respondents from Sainsbury stated that cost plus mark up pricing is
effective for the purpose of higher rate of return. 30% respondents found that premium pricing
strategy is more effective so as to recover the cost of production. In addition to this, 10%
participants found that all mentioned pricing strategies are helpful for the business.
Theme 2:Agree that application of investment appraisal techniques reduces uncertainties
40%
30%
20%
10%
Cost plus mark up
Premium pricing
Penetration
All of the above

On the basis of collected information, it has been found that 50% participants do strongly
agree with the role of investment appraisal techniques in reducing the uncertainties associated
with the business. On the other hand, 30% participants do agree with the same. Therefore, it can
be said the application of investment appraisal techniques facilitates to determine the growth of
the business.
Theme 3: All methods are most suitable for selecting the right option
50%
30%
10%
10%
Strongly agree
Agree
Neutral
Disagree
Strongly disagree

The information collected from primary data reflects that all methods are helpful to select
the most suitable project for the expansion related plan of the business. However, 30%
respondents stated that payback method can be used in order to select the project on the basis of
recovery of initial investment.
Theme 4: Cost can be controlled
20%
20%
30%
30%
Net present value
method
Internal rate of
return
Payback
All of the above

The data collected from primary information reflects that respondents found to control
the cost effectively. In addition to this, 10% participants said they cannot control the cost.
TASK 2
Explanation and interpretation of the main types of financial statement
Review and evaluation of financial statements that may include profit and loss statement
or balance sheet is known as Financial statement analysis. It helps an organization to understand
financial condition and enables decision making more effective (Schulze, 2007). Financial data is
recorded by the financial statement to become useful for investors and shared holders and other
interested people.
With the help of financial statement analysis we can evaluate present and past performance of
the company. There are basically four types of financial statements:
1. Statement of Financial Position
It is also known as balance sheet which presents the position of an entity. It is composed of
following elements:
 Assets : Asset refers to something owned by a business ( eg. Cash, machines , plant etc).
Within assets segments company's accounts are recorded from top to bottom by which
with the ease it can converted into cash (Gitman, 2013).
 Liabilities : Something a business owes to someone ( eg, bank loans , credits etc )
 Equity: What the business owes to its owners. It is also known as net assests.
70%
10%
20%
Yes
No
Can't say

A balance sheet is a summation of company's assets, liabilities and equities. Theses
factors tells the investors about the company's holdings in the market as well the amount that
other shareholders have invested.
2. Income Statement
Income statement is also known profit and loss statement. It represents company's performance
in terms of annual profit and loss occurred during the whole year. Income statement is composed
of two segments:
 Income : It defines the annual revenue of the company over an year. It shows what
company has earned in the year . It can be either sales revenue or dividend income .
 Expense: It represents the total amount of cost incurred over things during the year like
on wages , salaries of employees, rent of offices etc (Drake and Fabozzi, 2012).
3. Cash flow statement
The movement of cash within bank and organization over a time period is represented by cash
flow statement. Cash flow movement can be classified into following categories:
 Operating activities: It represents cash flow of a business from primary activities.
 Investing activities : It represents cash flow between purchase , assets sales other from
inventories.
 Financing activities: It represents cash flow from repaying, payment of dividends and
interests and raising share capital (Sintomer, Röcke and Herzberg, 2015).
4. Statement of changes in equity
Statement of Retained Earnings can be referred as statement of changes in equity. It gives the
details of movement of equity of owner. In income statement total profit and loss can be
reported. Issues arised in shared capital over the period and payments of dividends can also be
recorded into this.
Comparing different formats of financial statement and their appropriateness for different type of
business
There are different format of financial statement which are applied by the business in
accordance with their requirement. It assists firm to ensure better record keeping and meet the
long as well as short term objectives in the right direction. Different formats of financial
statement are explained as follows in accordance with different types of businesses-

Sole proprietorship-This kind of business usually operate at small level under which sole
trader like to keep the statement quite simple so as to meet the daily business requirement. This
type of business basically needs the profit and loss statement which provide the detail
information related to direct or indirect expenses incurred to business. It is not considered as the
much complex aspect because of relatively low pressure of preparing the financial statement on
sole trader. On the other hand, other businesses need to follow the standards such as International
Financial Reporting Standards in accordance with Generally Accepted Accounting Principles
(Kaplan and Atkinson, 2015). This in turn corporation can effectively present the data so as to
meet the expectations of all related parties. For example, public limited organization need to
prepare the financial statement as per the set standards and accordingly they need to carry out all
operational activities. For instance, International accounting standards (IAS). It reflects that sole
motto of the sole trader remains on profitability rather focusing on meeting expectations of all
related stakeholders. In addition to this, private limited companies operating at large scale need
to prepare all financial statement such as income statement, balance sheet and fund flow
statement. The public limited organization need to follow the set pattern of completing the
related work of the business under which it becomes important to reflect liabilities, non-current
assets and sales as well as profitability. Along with that income tax payment and earning per
share are included which aids to represent the financial performance of the business and
accordingly derive valid outcome so as to carry out all operational activities in an effectual
manner (Guimarães, Klabjan and Almada-Lobo, 2012). Therefore, different procedure and
legislation are implemented in order to implement the related business activities and determine
the successful operation of the business in the marketplace. Apart from this, private limited
limited companies conduct the business activities in accordance with set GAAP and IFRS. It
contributes towards successful operation of the business with the increased rate of return. In this
manner, format of financial statement remains different for each business. For example, it is
mandatory for public limited business to show its solvency in comparison to other mentioned
businesses (Scarpa and Azzalini, 2012).
1.3 Interpreting and comparing financial statements using appropriate ratios
The financial statement of the Sainsbury for financial year 2014 and 2013 are considered
and analyzed with the help of ratio analysis. It has been explained as follows-

Ratios Formula 2014 2013
Profitability ratios
Gross Profit Ratio (Gross Profit/ Net Sales) *100 5.75 % 5.48 %
Operating Profit Ratio (Operating Profit/ Net Sales) *100 4.21 % 3.81%
Net Profit Ratio (Net Profit/ Net Sales) *100 2.99 % 2.63 %
Liquidity ratios
Current Ratio Current Assets / current Liabilities 0.36 0.61
Quick Ratio
(Cu. Assets - Cl. Stock)/Cu.
Liabilities 0.28 0.29
Efficiency Ratios
Total Assets Turnover Ratio Net Sales/ Total Assets 1.45 times 1.84 times
Inventory Turnover ratio COGS/Inventory
22.45
times 22.32 times
Gearing ratios
Debt Equity Ratio Debt/ Equity 0.37 0.46
Times Interest Ratio Net Income/ Interest expense 4.5 times 4.32 times
The table mentioned above reflects the Sainsbury is getting higher gross profit worth
5.75% and operating profit generated by the same was 4.21%. In addition to this, 2.99% was the
net profit generated in the financial year 2014 which are low in the previous year as of 2.36%. In
addition to this, liquidity position of the Sainsbury in financial year 2014 is better than the
previous year. Apart from this, efficiency ratio of the corporation reflects that assets are being

utilized appropriately for achieving the higher rate of return of the business. Moreover, debt
equity ratio in the current financial year was .37 which is quite better in the current time. Thus,
company is operating in an effectual manner so as to utilize the limited available assets in a most
effective manner (Epstein and Buhovac, 2014).
TASK 3
2.1 Classifying different types of cost
There are different types of cost such as material, labour, direct and indirect cost. Along
with variable and semi variable cost are included which affect the performance of the business to
a great extent as this cost increase the production cost of the business. The type of cost have been
explained as follows- Fixed cost-This kind of cost remain stagnant throughout the production period. Here
corporation need to integrate all related resources and assist business to focus on reducing
the cost of production. However, it does not vary as per the volume of production but
remain same either firm product one unit or 500. It covers cost like rent and machinery
charges etc (Brigham and Ehrhardt, 2013). Variable cost-It covers different cost such as material, labour and overheads which vary
as per the flow of production. At this juncture, they key variable cost is considered as the
cost of material through which flow of production as well as profitability of the business
get affected. Semi-variable cost-The semi-variable cost coansists of aspects related to little fix or little
variable cost. This has direct impact on the production as well as profitability of the
business (Vimpari, Kajander and Junnila, 2014). The major example of semi-variable
cost for the Sainsbury is telephone bill. Sunk cost-Such kind of cost are incurred already which cannot be recovered even by
putting great efforts by the management.
 Opportunity cost-This cost cannot be recorded as it is applied to pursue a certain action.
This reflects that forgone cost of an alternative such as profit, benefit etc. Owing to this,
before implementing any particular option such source of finance, opportunity cost is
determined. This ensures value for money and accordingly contribute towards recovering
the cost and increase overall rate of return of the business.

2.2 Using different costing methods to calculate cost with the suitable methods
There are different costing methods used by the organization like Sainsbury for their
particular department. It is helpful to allocate financial resources for each activity covered in the
business. The types of costing cover batch, job and contract as well as process costing which
have the significant impact on the performance of the business. However, the batch costing
method has been applied to understand the scenario effectively (Lapsley Miller and Panozzo,
2010). For this purpose, units which are uniform in the nature are produced together and their
price is calculated accordingly in a batch. In addition to this, job costing is used to assign cost for
each performed job. Moreover, construct cost is applied under the construction sector. Apart
from this, other related cost such as cost plus mark etc are also used under the retail sector such
as Sainsbury (Costing Methods & Important Cost Terms, 2017).
In addition to this, other costing method such as standard, marginal and historical as well
as absorption cost are also used. This is helpful to understand the requirement of finance and in
the same manner business can earn higher rate of return. For example, absorption costing
consider the fixed and variable cost. However, marginal cost is allocated in accordance with the
direct expenses and variable overheads to the produces. This reflects that fixed cost is excluded
from the marginal cost (Brotman, 2010).
Batch costing
Direct material 11000
Department A 800 labour hour@ 5/-
B 1400 labour hour @ 6/-
Factory overheads on the basis of labour
hour A 7 per hour
B 4 per hour
Expected profit 25.00%
Administration overhead are based on 10%
selling price
No. of unit 1000
Table 1: Batch costing
Material 11000
Labour
Department A- 800*5 4000
Department B- 1400*6 8400

12400
Factory overheads
Department A:800*7 5600
Department B:1400*4 5600 11200
Factory cost 34600
Administration overheads
(10% of selling price) 4613
Cost of production 39213
Profit 6920
Selling price 46133
Table 2: Working notes
Selling price
(34600*100/75) 46133
Less-Factory cost 34600
11533
Less-administrative
overheads 4613
Profit 6920
2.3 Selecting appropriate budgeting methods for an organization and preparing budgets
There are different types of budgeting methods applied by the corporation in order to
forecast future business activities and accordingly derive valid results for the purpose of creating
competitive edge of the business. The current report is based on expansion project of the
Sainsbury. Owing to this, different kind of budget make sense to increase the growth and return
or market share of the business. The general basis of budgets are two types such as incremental
and zero-base. The previous kind of budget is increment under which information from past year
is considered along with impact of inflation (Introduction to Accounting for product costs, 2017).
This proves to be effective for corporation to carry out all operation activities in the right
direction and derive valid outcome for the business. It is very common type of budget under
which potential issues which might occur in future are considered so as to reduce the risk to a
great extent. Owing to this, incremental type of budget is considered as the effective one which
leads to derive valid outcome and meet the long as well as short term objective of the business
like Sainsbury.

On the other hand, zero-based budgeting is prepared on the basis of assumption related to
future time span. It does not belong to any past history and promote the innovation in the
business. It is helpful in saving overall time and support management in preparing the budget in
relatively less time span. Apart from this, incremental budget is prepared in the past year's
budget only under which management of Sainsbury tend to focus on making changes in the
previous year's budget. This contributes towards the long term success of the business and meet
expectations of all related parties (Gitman, 2013). Therefore, application of different kind of
budgets come under both categories. Therefore, the Sainsbury shed light on fresh budget and
accordingly cash budget has been prepared in the below mentioned questions. Here, at first
planning has been done related to expected sales turnover by preparing the sales budget and then
raw material budget is assigned accordingly. In addition to this, expenditures incurred don
several capital related activities were also decided.
TASK 4
3.1 Analyzing budgets and making appropriate decisions
Budget are very important for forecasting profitability of the business and taking
appropriate decision in order to derive valid outcome. The below mentioned cash budget has
been prepared for Sainsbury for six months which contain all important information regarding to
cost and other related aspects (Adams, Litan and Pomerleano, 2010).
Revenues/Expenses January February March April May June
Expected sales 32000 48000 60000 65000 72000 90000
Total cash revenues 32000 48000 60000 65000 72000 90000
Cash payments
Total Purchase 20000 28000 40000 47000 65000 75000
Purchase of furniture and
equipment 7000 3000 2000 1000 1000
Other operational expenses 2000 2200 2200 2350 2500 2550
Administrative expenditures 800 1000 1000 1200 1200 1250
Electricity bill 500 500 800 1000 1200 1650
Total cash expenses 30300 31700 47000 53550 70900 81450
Net cash flow
(Surplus/deficit) 1700 16300 13000 11450 1100 8550
Opening cash balance - 1200 17500 30500 41950 43050
Closing cash balance 1200 17500 30500 41950 43050 51600

The analysis of cash budget reflects that surplus of the business is varying time to time.
It has been decreased in the from February month to March. This is showing varying trend which
have the negative impact on the performance of the business. In addition to this, cash balance in
the month of May is 1100 which was greater in the previous month. Apart from this, in the last
month cash or surplus was increased. Owing to this, management of Sainbury must have proper
control over the business flow. Moreover, corporation should apply strategy to reduce the flow of
expenses and establish proper security and safety for the business. Moreover, personnel can be
provided training to speed the production activities and positive impact of the same can be seen
in term of low cost.
3.2 Calculating the unit cost and making pricing decision using relevant information
The calculation of price is the important aspect under which all important cost is
integrated accordingly decision is taken for the purpose of completing all business related
activities. The below mentioned table contain information related to different types of cost
occurred to Sainsbury. In the same manner, business reach to the valid outcome and found the
per unit cost as 55 GBP.
Table 3: Calculating unit cost
Particular Cost (£)
Material cost 20000
Labour cost 15000
Other overheads 8000
Fixed cost 12000
Total cost 55000
Unit cost
(Total product cost/No. Of unit
produced)
(55000/1000 units) = 55
Table 4: Pricing decision
Particular Calculation Amount (£)
Unit Cost 55
Add: Required return
@30%
(55*30%) 16.5

Selling price 71.5
According to the value of cost, corporation can effectively set the price of products and
services by putting the margin. For this purpose, cost plus mark up price has been set under
which percentage of profit as 30% has been set. By setting the 30% mark up company get profit
worth 16.5 on each unit. This leads to enhance overall profitability and meet the long as well as
short term objectives of the business (Brotman, 2010).
3.3 Assessing the viability of a project using investment appraisal techniques
The viability of the project is found with the help of investment appraisal techniques
under which tools such as internal rate of return, pay back and net present value methods are
used. This allow management the select the most viable project for its expansion plan-
 Payback period method-This is the most effective method used for the calculation of
payback period of project. This assists firm to find the time period taken to recover the
initial investment. The below mentioned table reflects project 1 is more viable in
comparison to other mentioned one (Guimarães, Klabjan and Almada-Lobo, 2012).
Year Project 1 CCF Project 2 CCF
0 -280000 -280000 -350000 -350000
1 120000 -160000 80000 -270000
2 230000 70000 170000 -100000
3 250000 320000 250000 150000
4 310000 630000 380000 530000
5 350000 980000 520000 1050000
980000 1050000
PP (1) = 1 year +
(160000£/230000
£) = 1.7 year
PP (2) = 2 year
+
(100000£/2500
00£) = 2.4 year
 Net present value method-Under this method, management of Sainsbury find the best
project in accordance with actual future value of the project. The below mentioned table
is showing that project 1 is most beneficial as the net present value of the same is higher.
Year Project 1 Project 2 Discount rate
of £1 @ 10%
DCF DCF

0 -280000 -350000 1 -280000 -350000
1 120000 80000 0.909 109080 72720
2 230000 170000 0.826 189980 140420
3 250000 250000 0.751 187750 187750
4 310000 380000 0.683 211730 259540
5 350000 520000 0.621 217350 322920
NPV 635890 633350
 Internal rate of return-The below mentioned table is showing that project 1 generate
higher internal rate of return through which it becomes easy for Sainsbury to select the
best project for its expansion.
Year Project 1 Project 2
Discount rate
of £1 @ 10% DCF DCF
1 120000 80000 0.909 109080 72720
2 230000 170000 0.826 189980 140420
3 250000 250000 0.751 187750 187750
4 310000 380000 0.683 211730 259540
5 350000 520000 0.621 217350 322920
Total
present
value 915890 983350
Initial
investment 280000 350000
Net present
value 635890 633350
Year Project 1 Project 2
Discount rate
of £1 @ 10% DCF DCF
1 120000 80000 0.892 107040 71360
2 230000 170000 0.797 183310 135490
3 250000 250000 0.711 177750 177750
4 310000 380000 0.635 196850 241300
5 350000 520000 0.567 198450 294840
Total
present
value 863400 920740
Intial
investment 280000 350000

Net present
value 583400 570740
Project A
10+(635890/52490)*(12-10)=44.22%
Project B
10+(633350/62610)*(12-10)=40.23%
3.4 Analyzing sources of finance available to business
There are several sources of finance which can be accessed by business in order to carry
out out operational activities effectively. For this purpose, below mentioned aspects can be used- Retained profit-It is considered to be the effective source of finance under which
management of Sainsbury easily access the retained profit in the form of extra earned
money. This is cost effective source of finance whereby business can effectively integrate
all related resources (Kaplan and Atkinson, 2015). Bank loan-Under this Sainsbury can get the finance from bank loan in accordance with
the requirement so as to meet long as well as short term objectives effectively. For this
purpose, sources certain percent of interest is charged by the business so as to derive the
valid outcome in the right direction.
 Leasing companies-Under this source Sainsbury access to leasing companies for getting
technical assistance so as to start the operation of new outlet in relatively short time span.
Therefore, selected sources of finance are most effective under which it becomes easy to
implement the expansion project in a right manner (Sintomer, Röcke and Herzberg, 2015).
TASK 5
Note: Covered in the ppt
CONCLUSION
The aforementioned report concludes that accounting is the prominent department of the
business through which resources are allocated in the right department as per the specific
requirement. This is helpful for business to cater requirement of all related parties and support
business in deriving the valid outcome. It can also be concluded that zero based budgeting and
investment appraisal are some of the effective tools or techniques through which business can
secure the successful position in the marketplace with the increased rate of return. Furthermore,

effective sources of fiance are considered with the appropriate analysis of the business situation.
This can be made possible through the application of techniques like ratio analysis.

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