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ACF1200 | Accounting for Managers - Assessment

   

Added on  2020-03-07

15 Pages3174 Words39 Views
Running head: ACCOUNTING FOR MANAGERSAccounting for Managers Name of the University:Name of the Student:Authors Note:

1ACCOUNTING FOR MANAGERSTable of ContentsQuestion 1:.................................................................................................................................3a) Comparing and contrasting financial accounting reports with management accountingreports:........................................................................................................................................3b) Depicting relevant question regarding public listed company:.............................................3c) Classifying whether the item falls under asset, liability or equity:........................................3d) Distinguishing a cash flow budget with statement of cash flow:..........................................4e) Explaining the term depreciation by using practice examples:..............................................4f) Depicting whether which part of the pair would be expected be larger:................................5Question 2:.................................................................................................................................5a) Discussing the major changes that could increase or decrease the owner’s equity:..............5b) Depicting the reason why business owners would leave retained earnings in the business:.6c) Discussing whether financial performance could be affected by not considering bad debt:.7d) Depicting the reason behind companies operating cash flow showing negative balance andwhether the company’s management needs to be alarmed:.......................................................7Question 3:.................................................................................................................................8a) Calculating ratios for 2015 and 2016:....................................................................................8b) Writing a short report on profitability, short-term liquidity, and long-term solvency of thebusiness:.....................................................................................................................................8Question 4:.................................................................................................................................9a) Calculating the variable cost per pot for Fancy Terracotta pots:...........................................9b) Depicting the contribution cost per pot for Fancy Terracotta pots:.......................................9c) Calculating the breakeven point per month if only plain black pots are made:...................10d) Depicting whether the order should be accepted or not:.....................................................10e) Depicting the circumstance, this could change the conclusion for part d:...........................10

2ACCOUNTING FOR MANAGERSf) Calculating the profit and loss for the month of May:.........................................................10a) Depicting the factors that influence how much cash a business should hold:.....................12b) Depicting the cost that might be faced by the business by holding to low inventory:........12c) Explaining pros and cons of retained earnings:...................................................................12d) Depicting the non-financial information that would concern a venture capitalist:..............13Reference and Bibliography:....................................................................................................14

3ACCOUNTING FOR MANAGERSQuestion 1:a) Comparing and contrasting financial accounting reports with managementaccounting reports:The financial accounting report mainly summarizes about the financial position of thecompany. On the other hand, management accounting report provides a detailed andcomplete report regarding various information of the organisation. The reports provide byfinancial accounting consists of the annual report, while the report provided by themanagement accounting directly consists details about specific areas in business (Drury2013).b) Depicting relevant question regarding public listed company:The company is mainly owned by shareholders, the person holding the maximumshares of the company is considered to be the owner.Apart from shareholders, employees, creditors, suppliers, stakeholders, analyst,investors and financial institutions are interest in the contents of the financial accountingreport of an organisation (Lobo and Zhao 2013).c) Classifying whether the item falls under asset, liability or equity:ItemsClassificationPaid up capitalEquityBank loanLiabilityProvision for annual leaveLiabilityBrand names and intellectual propertyAssetAccounts receivableAssetPrepaid insurance premiumsAssetDeposit paid by a customer for work yet to be doneLiabilityRetained profitLiability

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