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COAC216 Cost Accounting Assignment

   

Added on  2019-10-31

12 Pages3166 Words222 Views
RUNNING HEAD: Cost Accounting 1Cost Accounting
COAC216 Cost Accounting Assignment_1
Cost Accounting 2ContentsIntroduction.......................................................................................................................3Company profile...............................................................................................................3Value chain.......................................................................................................................3Planning:...........................................................................................................................4(Morningstar, 2017)..........................................................................................................5Controlling:.......................................................................................................................5Decision making:..............................................................................................................7Summary:..........................................................................................................................8Recommendation and conclusion.....................................................................................9References.......................................................................................................................10Appendix.........................................................................................................................12
COAC216 Cost Accounting Assignment_2
Cost Accounting 3Introduction:Value chain is a concept which lies upon various activities which are used by the company to deliver the best quality product to its clients. Basically, value chain helps the organization to add the value in the products of the company. Through it, various aspects of the company such as marketing, production, provision etc are analyzed. This study is done to get the better balance between entire resources which are available and for satisfying the needs of the stakeholders. Basically, value chain unites in a proper framework and a management style that mainly focus over the worth; it motivates the team and individual to work properly, consideration over the culture and environment of the organization. Company profile:For this study, Hawker Siddeley has been taken into consideration. This company is mainly engaging into the manufacturing of aircrafts. This company has acquiesced various small firms and currently this is one of the biggest aircraft manufacturing companies. This company has been founded in 1934 as the name of Hawker Siddeley Aircraft Company. The main vision of the company is to be leader in international defence, Security Company and aerospace. Consequently, the main mission of the company is to enhance and safeguard the client’s vital interest and also deliver the growth to the value of the shareholder. Managerial highlights of the company depict about the growth of the company and the various strategies which have been opted by the company to manage the value of the shareholder. Further, the main product of the company is aircraft and various services related to aircrafts. The staff function and the line function of the company depict about the various aspects of the production of the company (annual report, 2016). Line function of the company is concern about the advancement of the operations of the company and as well as staff function of the company is concern about the support and advisory functions. Value chain:Value chain is a model which is developed by Michal porter to manage the productionof a company. In this model, business gets raw materials, which adds value of raw material through numerous procedures to produce a finished product and then the end product is sold to the customers. The overall goal of value chain is to deliver the maximum value of least possible cost and also help the company to make competitive advantages (Peters et al, 2011).
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Cost Accounting 4In case of Hawker Siddeley, it has been found that the company is managing the valuechain in a best manner; the process of value management starts from receiving the raw material and ends up by selling the end product to its customers. Through the analysis over the company, it has been observed that company has managed a good value chain to maximise the worth of resources and reduce the total cost of the company. Planning:Further, the process of value chain of Hawker Siddeley has been analyzed. Through the study over the company, it has been observed that the various business strategies shave been adopted by the company such as better working capital management, suppliers choice , market choice etc to manage the value chain of the company and maximise the worth of resources and reduce the total cost of the company (Miller and Mork, 2013). It has been found that the current ratio and the working capital have been managed by the company to manage the entire resources of the company and manage the performance of the company. the current scenario of the company depict about a great value chain of the company as various issues have been reduced from the operations of the company and the extra cost of the company has also been reduced by the company. Currently the gross margin of the company has been 18.46% and in last year, it was 18.65%. Further, it has also found that the brumby aircraft Australia and Jabiru Aircrafts are the business competitors of the company. It has been found that these two companies are alsoperforming their operations in manufacturing the aircraft. It has been found that both the companies are giving the huge competition to the Hawker Siddeley (Miller and Jones, 2010). Further, it has been found that company is not required to threat from the potential rivalries. Due to the reason that huge amount is required by the companies to enter into this industry and start producing the aircrafts. Thus the company is not required to threat from the potentialrivals. Lastly, it has been found that the company is required to collect information about various aspect and particulars to prepare and manage a better budgeting report. It has been found that for preparation of a better budget report of manufacturing budget, information about raw material units, their price, indirect labour, direct labour, employee benefits, manufacturing supervision, insurance, property tax, depreciation, factory rent, repairs and maintenance, small tolls etc is required. Further, it has been found that for preparing the selling budget, cost of sales of the product, various categories of the product, sales amount,
COAC216 Cost Accounting Assignment_4

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