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Management Accounting Assignment (Solved)

   

Added on  2020-03-15

8 Pages2252 Words70 Views
Running Head: MANAGEMENT ACCOUNTING1Critical evaluation of the product costing and pricing practices actually in use inmodern manufacturing organizations the Asia Pacific region<Student ID><Student Name><University Name>
Management Accounting Assignment (Solved)_1
MANAGEMENT ACCOUNTING2ContentsIntroduction................................................................................................................................3Product costing systems in Asia Pacific Region........................................................................3Product costing model in Australian manufacturing firms........................................................3Product costing model in Japanese manufacturing firms...........................................................4Product costing model in Chinese manufacturing firms............................................................5Impact of the Product costing model.........................................................................................5Conclusion..................................................................................................................................6References..................................................................................................................................7
Management Accounting Assignment (Solved)_2
MANAGEMENT ACCOUNTING3Introduction The accounting practices that are adopted by various business concerns help them tohave an effective control over their business transaction. The consistent application of suchpractices and accounting policies strengthens the financial information of a businessundertaking (Ax & Greve, 2017). The focus of this essay is in the product costing systemsand pricing practices that are used in the Asian Pacific region such as Australia, Japan, andChina. A number of real-life organizational scenarios have been included here so that thereaders can get an idea about the actual application of such models by businesses and theirimpact on the respective concerns (Christ & Burritt, 2013). Different journal articles andpublications have been referred to understand the costing practices followed bymanufacturing concerns in the particular region so that vital aspects relating to thisaccounting practice can be critically evaluated. Product costing systems in Asia Pacific Region The different accounting techniques and theories have been present for a long timeand the same is used by different business organizations irrespective of the industry in whichthey function. When business undertakings adopt relevant accounting tools and techniques,they are supposed to do so very carefully since it has a vital bearing on their overall businessperformance (Cooper, Ezzamel & Qu, 2017).Product costing techniques basically refer to the costs involved to develop or create aproduct. Various kinds of product costing systems exist, but it is vital for any business toadopt the appropriate costing model based on the specific business situation. The firmsbasically use the costing information to value their inventory for financial reporting objective(Dekker, 2016). The focus has been on nations like Australia, Japan, and China so that theproduct costing model used in the organizations in the Asia Pacific region can be evaluated. Itis vital to observe the real-life impact of these accounting models on businesses and theiroperations.Product costing model in Australian manufacturing firmsDue to a large number of technological changes in the organizational front in the pastdecade, the manufacturing environment has undergone a drastic change that allows
Management Accounting Assignment (Solved)_3

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