Assignment on Managerial Accounting System

Added on - 28 May 2020

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AccountingManagerial Accounting
Managerial Accounting1ContentsIntroduction......................................................................................................................................2About Toyota Motor Corporation....................................................................................................3Toyota Global Vision..................................................................................................................3Toyota production system............................................................................................................4Time-Driven Activity-Based Costing..............................................................................................5Time equations.............................................................................................................................5Features of Time-Driven Activity-Based Costing.......................................................................6Difference between TDABC and Activity- Based Costing and Traditional Costing System.........6Suitability of TDABC for Toyota Motor Corporation....................................................................8Conclusion.....................................................................................................................................10References......................................................................................................................................11
Managerial Accounting2IntroductionTime-Driven Activity-Based costing is an advanced method of ABC (Activity-Based costing).The report shows whether Time-Driven Activity-Based costing is suitable for the Toyota MotorCorporation or not. The report will talk about the Time-Driven Activity-Based costing conceptand its features. This is the fact that the TDABC is different than the ABC method and traditionalcosting system. Furthermore, the report includes the suitability of TDABC costing method forthe Toyota Motor Corporation.
Managerial Accounting3About Toyota Motor CorporationToyota Motor Corporation is a Japanese Multinational automotive manufacturing corporationwith the headquarters in Aichi. Since, the time when company came into the existence Toyotahas sought to contribute to a more prosperous society through manufacturing of vehicles(Bloomberg, 2018). Toyota Motor Corporation manufactures, assembles, designs and sellsminivans, passenger vehicles, and commercial vehicles. Along with this the company sells therelated parts and accessories of the products. The company has completed 75 years and now thecompany is celebrating its 75 years and showing its progress in the last three-quarter century(Toyota, 2017). Toyota Industries Corporation came into the existence in the year 1926,November. This was the time when the company started the manufacturing and deals of spinningand weaving machines, industrial automobiles along with the logistics (Toyota, 2017).Toyota is one of the world’ largest automobile manufacturer along with this the company is aleading light in the sales of the hybrid electric automobiles. Toyota was the first company whoproduce more than 10 million vehicles per year since 2012, at the same time the companypresented the production of the 200-million vehicles (Toyota, 2017). By the year 2009, thecompany listed around 70 diverse models that are traded under its brand which include sedans,coupes, vans, trucks, hybrids, and crossovers. By the end of December 2016, the companyoperates its business operations with 53 foreign manufacturing organizations in 28 countries andregions across the world. The company automobiles are traded in more than 170 regions andcountries (Toyota, 2017).
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