Accounting for Operational Efficiencies

This report focuses on accounting aspects in relation to operational efficiencies, including maintaining relationships with stakeholders, management of operational processes, and cost-volume analysis for decision making and planning for operational efficiency.

Running head: ACCOUNTING FOR OPERATIONAL EFFICIENCIES
Accounting for Operational Efficiencies
Name of the Student:
Name of the University:
Author’s Note:
Course ID:

1ACCOUNTING FOR OPERATIONAL EFFICIENCIES
Executive Summary:
The report has concentrated mainly on dealing with the various accounting aspects in relation to
operational efficiencies. It has been evaluated that involving the stakeholders is the vision for
any business organisation; however, its execution and success relies on the enthusiasm of the
stakeholders. Hence, the organisations are required to ask for the needs of the stakeholders. By
communicating with the customers, it becomes possible for the business organisations to identify
if they are provided with something that is not required by them. For instance, the costly same
day delivery alternative offered is not essential or there is need to improve packaging. Thus, the
customers are the best option in identifying the parts of services significant to them and the areas
that are surplus to them. Finally, cost-volume profit equation is used for analysing the ways the
changes in cost and volume impact operating income and net income of the organisation. It is
useful in determining the contribution margin and contribution margin ratio.

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Table of Contents
Introduction:....................................................................................................................................4
Task 1: Maintaining relationships with stakeholders......................................................................5
1.1 Identification of internal and external stakeholders and their roles in reporting
organisational accountability and transparency:..........................................................................5
1.2 Plan to maintain effective relationships with internal and external stakeholders and factors
contributing to maintain effective relationships:.........................................................................7
1.3 Application of theories to maintain professional relationships with internal and external
stakeholders:................................................................................................................................9
Task 2: Management of operational processes..............................................................................10
2.1 Identification of five areas where cost is involved in operational efficiencies and impact of
these areas on the costs of the business:....................................................................................10
2.2 Identification of six ways to manage business expenses and minimise costs:....................12
2.3 Evaluation of the procedure through which activity-based costing strategy leverages off
operational efficiencies:.............................................................................................................15
2.4 Suggestion of five ways of controlling costs:......................................................................16
Task 3: Cost-volume analysis for decision making and planning for operational efficiency.......18
3.1 Profit equation:....................................................................................................................18
3.2 Contribution margin in cost-volume-profit analysis:..........................................................18
3.3 Break-even point:.................................................................................................................19

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3.4 Cost-volume-profit equation:...............................................................................................20
3.5 Break-even point for the product using Snowboard Company scenarios:..........................20
3.6 Illustration of the break-even point by using graphical representation:..............................21
3.7 Contribution margin and break-even point for the product using Snowboard Company
scenario:.....................................................................................................................................21
3.8 Units to be sold by the Snowboard Company for achieving a profit of $30,000:...............22
Conclusion:....................................................................................................................................22
References:....................................................................................................................................23

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Introduction:
Operational efficiency is the backbone of all financial, industrial, institutional or
commercial undertaking. In different economic sectors, operational efficiency is deemed to be
gauged for accomplishing strong long lasting and growth-oriented outcomes (Otley, 2016). If an
organisation is enabling to make profits, the invested capital is eroded and with the passage of
time, the organisation ceases to exist. The organisation could accomplish increased profit
margins or become more successful in highly competitive markets. This is valuable for the
different groups like management, bondholders, shareholders, financial institutions, bankers,
investors and government organisations.
The first section of the report would focus on maintaining effective relationships with the
stakeholders from the perspective of the business organisations. This includes identifying the key
stakeholders, plan to maintain relationship with the same and application of theories to maintain
professional relationships with the internal and external stakeholders. The next section would
involve evaluation of the management of operational processes, in which emphasis would be
placed on identification of cost areas, techniques to manage business expenses, role of activity-
based costing in leveraging off operational deficiencies and methods to control cost. Finally, the
report would shed light on cost-volume-profit analysis for undertaking decisions along with
planning for operational efficiency.

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Task 1: Maintaining relationships with stakeholders
1.1 Identification of internal and external stakeholders and their roles in reporting
organisational accountability and transparency:
There are two types of stakeholders in any business organisation, which include internal
and external stakeholders. The two internal stakeholders that play a significant role in reporting
organisational accountability and transparency include the following:
Management:
The management of an organisation develops and maintains a structure, which acts as the
key in enhancing organisational production and efficiency (Bourne, 2016). For this task, the
managers are involved in developing and reviewing organisational structure. This includes the
formulation of an organisational chart outlining horizontal and vertical reporting relationships
with the business. In addition, it takes into account the outside interactions between the company
staffs, customers and business partners. With the assistance of structured business, it becomes
possible to avoid work redundancy, enhance overall communication along with assuring
maximum utilisation of available resources, opportunities and strengths by maintaining
transparency and accountability in the workplace (Wolf, 2014).
Employees:
The employees of business organisations rely on the business for their livelihood. The
daily work of the employees helps the organisations to achieve success. Hence, it is imperative to
train the staff for enhancing their skills along with preparing them to move into advanced
positions with business growth (Bosse & Coughlan, 2016). In addition, the maintenance of
productive and positive work environment relies on the cooperation of the staffs. The managers

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need to work for overseeing daily operations, motivate staffs along with improving efficiency,
when required. In this manner, the employees play a critical role in maintaining organisational
accountability and transparency.
The two external stakeholders that play a significant role in reporting organisational
accountability and transparency include the following:
Customers:
The customers rely on the organisations in supplying products or services. They provide
support to the organisation with all types of purchases and such purchases provide direction to
the organisations regarding further investments in specific products or services (Slabbert &
Barker, 2014). In conducting the same, the customers help in guiding the direction of a business
organisation. Moreover, the customers share their experiences and viewpoints with the customer
service department and they might directly request for change in products or services. As the
customers are often involved in communicating with the sales representatives of the
organisations, they could avail the opportunity of analysing the needs and wants of the
customers. Thus, it would assist in maintaining organisational accountability and transparency.
Community and government:
The government collects taxes from the organisations, which benefit them from business
profits. The taxes would be invested back in society. With the growth of business, the
community might be affected positively or negatively (Henisz, Dorobantu & Nartey, 2014). The
organisations are capable of providing jobs and they might contribute to community
organisations and local schools. Therefore, when the activities of an organisation have direct

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impact on the community, it bears the ethical accountability of engaging community groups and
organisations to plan its activities for ensuring organisational accountability and transparency.
1.2 Plan to maintain effective relationships with internal and external stakeholders and
factors contributing to maintain effective relationships:
In order to plan for maintaining sound relationships with internal and external
stakeholders, the six key factors are needed to be taken into consideration:
Development of strong relationships in the initial stage:
It is always clear to the management about their expectations and the resources required
for fulfilling such expectations. This vision needs to be shared with the stakeholders regularly
rather than on a typical basis. Moreover, the organisation needs to utilise every opportunity of
bringing the shareholders on the same page rather than structured meetings (Schnackenberg &
Tomlinson, 2016).
Involvement with the stakeholders:
Involving the stakeholders is the vision for any business organisation; however, its
execution and success relies on the enthusiasm of the stakeholders. Hence, the organisations are
required to ask for the needs of the stakeholders. The answer would be forward looking and the
organisations would have the real chance of meeting the needs of the stakeholders.
Schedule of periodic touch-base sessions:
The organisations sometimes fail to estimate the significance of remaining top of mind,
particularly for the clients. For supporting the initial tip of actively forming strong relationships
outside the structure, it is necessary to have in-built structure as well (Hillebrand, Driessen &

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Koll, 2015). With the help of regular stakeholders, both organisations and their stakeholders
could be kept on the same page and this implies the capability of the organisations to deal with
the potential challenges when they occur.
Keeping promises:
If the organisations need to maintain strong long-lasting relationships with the
stakeholders, it is necessary for them to keep their promises to the stakeholders. This is because
it reflects the integrity, respect and trustworthiness for the organisations and other stakeholders
(Waligo, Clarke & Hawkins, 2014).
Having an open mind:
As the organisations are involved in win-win relationships with the stakeholders, it is
obviously that the latter might have contradictory opinions, which might not be favourable for
the latter. Therefore, the organisations need to have the big picture in mind along with listening
to suggestions, thanking individuals for their inputs and genuine consideration of their opinion.
Addressing issues at the time of occurrence:
For maintaining positive relationships with the stakeholders, the organisations are needed
to maintain openness and transparency (Andriof & Waddock, 2017). In case; issues are found,
they need to be communicated and settled. When the stakeholder relationships are approached
with the intent for improving the same further, the other party would have full information and
this would assist in setting the bar on the ways responses would be provided by them. Hence, for
realisation of vision, the organisations need to be involved in constant working on their
relationships (Yang & Shen, 2014).

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The key factors contributing to maintain effective relationships with the stakeholders
based on the plan are stated as follows:
 Timely communication
 Defining pertinent roles
 Adherence to guidelines
 Following the organisational roadmap
 Monitoring policies and procedures
 Undertaking relevant changes, if needed
1.3 Application of theories to maintain professional relationships with internal and external
stakeholders:
Freeman’s normative theory and operational planning:
As per this theory, there are certain aspects considered for maintaining professional
relationships with internal and external stakeholders. These aspects are described briefly as
follows:
 The first aspect is the principle of entry and exit where the contract has to describe
process clarifying exit, entry and renegotiation conditions for the stakeholders in order to
ascertain the time of the fulfilment of agreement.
 The second aspect includes the principle of governance, in which the processes for
changing the game rules need to be agreed by unanimous consent. This would result in
stakeholder governing board (Kull, Mena & Korschun, 2016).

10ACCOUNTING FOR OPERATIONAL EFFICIENCIES
 The third aspect is the principle of externalities, in which if a contract between X and Y
involves Z, Z needs to be invited in the form of a party of the contract for ensuring sound
stakeholder relationship.
Analytic theory and operational planning:
According to this theory, three aspects considered for maintaining professional
relationships with internal and external stakeholders include the following:
 The intention is to understand the ways through which the managers deal with the
stakeholders, represent their interests and the effect of stakeholder approach in the
accomplishment of different corporate objectives (Miles, 2017).
 This theory provides answer to the question, which is the way of organising hierarchy
stakeholder influence.
 For determining the optimum strategy of the stakeholder groups, the power of threat
needs to be analysed ascertained by resource dependence.
Task 2: Management of operational processes
2.1 Identification of five areas where cost is involved in operational efficiencies and impact
of these areas on the costs of the business:
There are certain areas, in which cost is found to be involved in operational deficiencies
and their impact on business costs are enumerated briefly as follows:
Office space:
On certain situations, it is obvious that there has been underutilisation of a specific space
like a conference room, which might be due to the availability of other rooms or other rooms are

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better equipped. Some costs pertaining to underutilised space could be identified easily like
furniture, rent or property taxes and others. However, the effects are less obvious at the time the
space is underutilised. If the office space is more than business requirement, related overhead
costs would increase. There might be payment of higher insurance premiums, utility bills and
other costs owing to oversized workspace (Kokubu & Kitada, 2015). Moreover, there would be
incremental costs related to cleaning and maintaining underutilised rooms.
Staffs:
The most common costs of any staff include wages and related benefits, In addition to
this, the other costs to be incurred include health insurance, payroll taxes and contributions such
as Medicare tax, social security tax and unemployment taxes (Lavia López & Hiebl, 2014).
Along with this, the staffs are generally trained in their particular job roles, which need to be
managed by other staffs. In that case, the new staff is costing own wages as well as that of the
immediate manager in the training period coupled with online and printed training materials.
Moreover, new equipment like computers and desks need to be bought for the staffs, which
would lead to additional depreciation expenses.
Out-of-pocket costs:
Out-of-pocket costs include those expenses, which could be avoided or incurred based on
the decision of the management of an organisation. More precisely, they are classified as
expenses needing future cash disbursements (Balakrishnan, Labro & Soderstrom, 2014). For
instance, the purchase of new equipment could be considered as out-of-pocket cost. The
company management plans for purchase of new equipment well into the future, sometimes it

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could be even years into the future. The future cash outlay could result in business diversification
and new business or it might stretch the organisation thinner by forcing it into insolvency.
Supply costs:
If the supplies are ready available for any organisation, it is likely that it would not incur
much on materials, which assists in either keeping low prices or increasing profits. On the other
hand, utilising scarce materials deemed to be valuable by the customers enables an organisation
in charging increased prices. Therefore, if an organisation produces a popular good and it fails to
meet the demand, the shortfall in supply could validate rise in prices for generating additional
revenue along with investing in infrastructure for assisting the organisation in increasing
production (Fullerton, Kennedy & Widener, 2014).
Advertising costs:
Advertising cost could be defined as a cost, which an organisation incurs for drawing the
attention of its customers towards buying the products. The intention is to generate additional
revenue by increasing the overall sales and brand reputation. However, if an organisation incurs
heavily on advertising, there is chance that the strategy might backfire. This is because if it fails
to generate additional demand in the market, there would be significant increase in operating
expenses and hence, the impact would be negative on operational efficiency.
2.2 Identification of six ways to manage business expenses and minimise costs:
There are certain ways of managing business expenses and minimising costs, which are
discussed briefly as follows:
Understanding cost revenue structure:

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This is the most significant part in sound cost management. Therefore, for managing its
costs, it is necessary for an organisation to identify the sources of revenue in the initial stage
(Collis & Hussey, 2017). After this, the organisation needs to find out the specific costs to be
implicated in generating its stream of revenue. Finally, the overheads and costs of an
organisation not associated directly with generation of revenue have to be identified and they
need to be eliminated that would lead to cost minimisation.
Minimisation of inter-departmental conflicts:
For addressing inter-departmental conflicts, a basic flow chart of the work flow of an
organisation needs to be drawn. In any business organisation, the way in which a department
operates is affected by the other departments of the organisation. Therefore, for minimising such
complexity, it is necessary for the owners to find out the reasons behind the conduction of any
particular work and the ways through which the same could be performed more effectively
(Chenhall & Moers, 2015). Once a flowchart is drawn, a number of additional and unnecessary
involved in the business operations could be identified. These operations could be eliminated so
that overall expenses are reduced.
Training and involvement of staffs:
The staffs need to be educated in undertaking decisions, building team and solving
problems for better control of their own costs. Moreover, when an organisation undertakes
investment in its individuals by providing training, particularly in a recession, it would reap the
rewards of workforce working together for the betterment of the organisation. In a similar
manner, if the staffs are involved actively in the process of cost management, the best results

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would be reaped. Therefore, the suggestions from the staffs need to be sought for finding better
and cost effective methods.
Backing to the business plan:
All organisation needs to have long-term business strategy (Hopper & Bui, 2016). Cost
management needs to be part of the strategy and be affected by the strategy. The cost decisions
have to be gauged against the strategy of the organisation, instead of an existing short-term
situation. Therefore, an organisation need not purchase higher amount of inventory, since the
manufacturer has minimised the price for getting rid of the same. Instead, it needs to be
purchasing the amount required for fulfilling the demands of the customers.
Easy savings:
The organisations could minimise some small costs with minimal risk of affecting the
service quality. These mainly include the following:
 It is necessary to check the invoices of the suppliers carefully for overcharging like
missing discounts. Moreover, they need to get rid of overcapacity like unessential
subscriptions, incurring rental on spare telephone lines and others.
 The organisations have to enforce a stop to the blatant waste like heating premises when
they are not occupied.
 They are required to use first class post only at the time it is needed most and the staffs
are to be communicated regarding the same (Cokins, 2014).
 Finally, cheaper suppliers need to be sourced offering the identical level of products and
services.

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Communication with the customers:
By communicating with the customers, it becomes possible for the business organisations
to identify if they are provided with something that is not required by them. For instance, the
costly same day delivery alternative offered is not essential or there is need to improve
packaging. Thus, the customers are the best option in identifying the parts of services significant
to them and the areas that are surplus to them.
2.3 Evaluation of the procedure through which activity-based costing strategy leverages off
operational efficiencies:
The method through which activity-based costing strategy leverages of operational
efficiency in an organisation includes the following steps:
Identification of activities needed to complete products:
In this step, the personnel are interviewed across the organisation. It has been observed
that activity-based costing requires the identification of significant activities (Banker & Byzalov,
2014). However, this strategy makes room for a more detailed evaluation, since the estimation of
costs and associated overhead rates are not needed when using the system.
Determination of whether activities carry value:
The activities, which add to the quality and performance of the product, are termed as
value-added activities. On the other hand, those activities not adding value to the product and
quality performance are considered as non-value added activities. For instance, value-added
activities of Marco Boats in New Zealand include usage of machines and materials for

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production of hulls and assembly of each sailboat. On the other hand, non-value added activities
include preserving parts in a warehouse and keeping machinery idle.
Continual improvement of value-added activities and minimisation of non-value added
activities:
Despite the fact that an activity is identified as value-added, activity-based costing
strategy needs continual improvement of the activity (Kotas, 2014). For instance, the assembly
process of Marco Boats might need workers to move back and forth between deluxe and basic
sailboats across the day, which utilises various parts and needs various tools. The process
efficiency could be enhanced through assembly of the boats in batches by a day working on
deluxe boats and another day working on basic boats. On the other hand, the activities not adding
value need to be eliminated or minimised. For example, preservation of parts in a warehouse at
Marco Boats might be reduced by shifting to a just-in-time system needing suppliers to provide
parts immediately before production requirements.
2.4 Suggestion of five ways of controlling costs:
There could be a number of ways to control costs from professional, ethical, social and
cultural perspectives, five of which are discussed briefly as follows:
Annual renegotiation of all contracts:
As commented by Langfield-Smith et al., (2017), multiple year contracts would lead to
lower costs. A sound company policy is not to exceed the life of a contract above a year. This
compels yearly bidding or at least renewal discussions with the existing suppliers. These
discussions would lead to minimised cost of products by maintaining proper code of ethics.

17ACCOUNTING FOR OPERATIONAL EFFICIENCIES
Conversation with the customers:
The yearly planning sessions with customers have a number of benefits. These
discussions would concentrate primarily on business growth. However, such discussions often do
not address costs. By discussing costs holistically, the customers could suggest ways to control
costs. For instance, the ways of removing wasted steps from the process, planning jointly to
ensure smooth production or the techniques of changing the products based on cultural factors by
replacement are more profitable (Parker & Fleischman, 2017).
Matching terms with turns:
Each inventory item moves at a varying rate. However, the suppliers are involved in
applying a single-size-fits-all approach in terms of payment. It is possible to minimise working
capital to nil; in case, the matching of payment terms could be made with the turns of inventory
of each item. By negotiating the same into contracts, the suppliers could have the only option of
selling the best moving items by collaborating with the concerned organisation to enhance
inventory productivity. This would assist in freeing up cash to be invested in other business
operations for profit generation.
Asking vendors to own their inventory:
Sound planning leads to just-in-time delivery due to which there would be no inventory.
Hence, the vendors are required to own their inventory until the selling time (Horngren &
Harrison, 2015). This would help in minimising storage cost.
Holding constant headcount:

18ACCOUNTING FOR OPERATIONAL EFFICIENCIES
With the help of technology, process engineering and lean techniques, it is possible to
save time for increasing the productivity of the staffs by keeping constant headcount. Moreover,
this would lead to boost in productivity at no incremental cost (Armitage, Webb & Glynn, 2016).
Task 3: Cost-volume analysis for decision making and planning for operational efficiency
3.1 Profit equation:
Profit Equation is employed to determine an organization’s profitability which can be
explained within its easiest form as profit = sales – cost. Costs are explained as a figure which
indicates the fixed as well as variable expenses in combination. The sales term is derived from
multiplying the number of units sold by their unit expenses (Smith, 2017). The easiest profit
equation can be extended to encompass certain components of its parts along with using them to
solve for some unknown. In such form, the equation is P + FC = Q * (SP – VC), within which
FC indicates fixed costs, Q indicates the quantity of sold units, SP indicates per unit selling price
and VC is refereed as per unit variable cost. Such formula can be employed in explaining the
units’ quantity which is required to be sold (Q) to attain a desired profit level (P).
3.2 Contribution margin in cost-volume-profit analysis:
Contribution Margin in the cost-volume-profit analysis is equal to the differences
between the overall sales and the overall variable cost. In other words, contribution margin is the
amount by which sales is deemed to exceed the overall variable cost (Kieso, Weygandt &
Warfield, 2016). By using the contribution margin, the cost-volume-profit analysis is employed
to determine the ways in which changes in costs and volume impacts an organizations net and
operating income. For making increased profits, the contribution margin related with a business
is required to exceed its overall fixed costs. In addition, the unit contribution margin is computed
per unit that is referred as called unit contribution margin and it is the excess of sales price per

19ACCOUNTING FOR OPERATIONAL EFFICIENCIES
unit over the per unit variable cost (Apostolou, Dorminey, Hassell & Rebele, 2015). The
contribution margin is computed through using the formula, CM= Unit Price – Unit variable
cost.
Under this formula the contribution margin is explained as the selling price subtracted
from variable cost that is a measure of an organizations ability to cover the variable costs with
revenue. The amount that is left, the contribution includes the profit and the fixed costs.
Contribution margin can be understood as the measurement of a product based profitability and it
is expressed as dollar amount for each unit or as a ratio. Contribution margin within the cost-
volume-profit analysis can be computed for the product line through employing overall revenues
and the variable costs (Collier, 2015). Moreover, it can also be computed in the unit level
through employing unit sales price along with unit variable costs and such metric is compiled
within cost-volume-profit analysis.
3.3 Break-even point:
Break-even point can be defined as the production level which the overall revenues s
equal to the overall expenses. In addition, the break-even point is a situation where an
organization produces a same amount of revenues as expenses through the manufacturing
process are within an accounting period. For computing the break even pint based on units fixed
cot are divided by revenue per unit minus the per unit variable costs (Apostolou et al., 2015).
Break-even point is the price point at which the sales revenue is equal to the expenses attaining
zero profit.

20ACCOUNTING FOR OPERATIONAL EFFICIENCIES
3.4 Cost-volume-profit equation:
Cost-volume profit equation is used for analysing the ways the changes in cost and
volume impact operating income and net income of the organisation. It is useful in determining
the contribution margin and contribution margin ratio (Guilding, 2014). This equation is
represented as follows:
Break-even sales volume = Fixed costs/ Contribution margin
3.5 Break-even point for the product using Snowboard Company scenarios:

21ACCOUNTING FOR OPERATIONAL EFFICIENCIES
3.6 Illustration of the break-even point by using graphical representation:
0 100 200 300 400 500 600 700 800 900 1000
$-100,000
$-50,000
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Graphical Illustration
Total cost
Sales
Net profit/loss
3.7 Contribution margin and break-even point for the product using Snowboard Company
scenario:

22ACCOUNTING FOR OPERATIONAL EFFICIENCIES
3.8 Units to be sold by the Snowboard Company for achieving a profit of $30,000:
Conclusion:
The above discussion has focused on different accounting aspects for maintaining
operational efficiencies. Firstly, it has been analysed that maintaining sound relationships with
the stakeholders assists the business organisations to ensure sound business growth and thus,
regular communication with them is crucial for future business development. Secondly, it has
been found that for any organisation, cost is a critical factor that needs to be managed carefully
and they need to be minimised as much as possible by following ethical and professional
principles. Finally, it has been assessed that cost-volume-profit analysis plays a pivotal role in
business decision-making.

23ACCOUNTING FOR OPERATIONAL EFFICIENCIES
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