Importance of Budget Planning in Management
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This assignment delves into the crucial role of budget planning in successful management practices. It highlights the benefits of budgeting, emphasizing its ability to enhance decision-making processes and facilitate continuous improvements within organizations. The document also explores how a well-structured budget provides essential financial information that supports informed decision-making, ultimately leading to increased confidence and organizational effectiveness.
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Running head: MANAGEMENT ACCOUNTING
Management accounting
Name of the student
Name of the university
Author note
Management accounting
Name of the student
Name of the university
Author note
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1MANAGEMENT ACCOUNTING
Table of Contents
Assessment task – Part A – Activity based costing...................................................................2
a. Computation of the per unit cost for listed activities based on activity drivers..............4
b. Determining the per unit cost for Lamington and preparation of activity bill................5
c. Other costs.......................................................................................................................5
Assessment task – Part B – Budgeting.......................................................................................6
a. Impact of the sales revenue.............................................................................................7
b. Analysis of the new fee structure and membership plan for rejecting it or adopting it. .9
Reference..................................................................................................................................11
Table of Contents
Assessment task – Part A – Activity based costing...................................................................2
a. Computation of the per unit cost for listed activities based on activity drivers..............4
b. Determining the per unit cost for Lamington and preparation of activity bill................5
c. Other costs.......................................................................................................................5
Assessment task – Part B – Budgeting.......................................................................................6
a. Impact of the sales revenue.............................................................................................7
b. Analysis of the new fee structure and membership plan for rejecting it or adopting it. .9
Reference..................................................................................................................................11
2MANAGEMENT ACCOUNTING
Assessment task – Part A – Activity based costing
Activity based costing is the methodology for allocating the overheads more precisely
over those items actually used by the process. This method can be used for achieving target
deduction in the overhead expenses (Bhimani 2012). It works best in the complex
circumstance where many products and machines are there, processes are tangled and not
easy for sorting out. On the contrary, it is not of much importance where the process of
production is simple. ABC identifies the special training, machine set up, special engineering
and other activities that generate costs and lead the company to the consumer resources. As
per ABC the company computes the resource cost used under the activities (Bunn and Sapio
2015). Thereafter, cost of each activity is assigned only over the products that require the
activities. ABC has become important in past few years as the manufacturing costs increased
significantly, diversity with regard to the demands of the customer as well as the product has
been increased significantly, the costs of manufacturing overheads do not correlate with the
direct labour hours and productive machine hours anymore and few products are produced
under large batches while other products are produced under small batches. Various
advantages are there with regard to usages of ABC. These are –
Make or buy – it provides the comprehensive view regarding each cost that is
associated with in-house manufacturing of any product so that the company can
precisely analyse which cost shall be eliminated if the product is outsourced and
which cost can be carried on.
Minimum price – pricing is done for the product in such way that the market will be
ready to pay and the marketing manager shall know the product cost before deciding
the price of the product. It will assist the company to avoid the situation where the
company will lose money due to high pricing of product. ABC helps to determine
Assessment task – Part A – Activity based costing
Activity based costing is the methodology for allocating the overheads more precisely
over those items actually used by the process. This method can be used for achieving target
deduction in the overhead expenses (Bhimani 2012). It works best in the complex
circumstance where many products and machines are there, processes are tangled and not
easy for sorting out. On the contrary, it is not of much importance where the process of
production is simple. ABC identifies the special training, machine set up, special engineering
and other activities that generate costs and lead the company to the consumer resources. As
per ABC the company computes the resource cost used under the activities (Bunn and Sapio
2015). Thereafter, cost of each activity is assigned only over the products that require the
activities. ABC has become important in past few years as the manufacturing costs increased
significantly, diversity with regard to the demands of the customer as well as the product has
been increased significantly, the costs of manufacturing overheads do not correlate with the
direct labour hours and productive machine hours anymore and few products are produced
under large batches while other products are produced under small batches. Various
advantages are there with regard to usages of ABC. These are –
Make or buy – it provides the comprehensive view regarding each cost that is
associated with in-house manufacturing of any product so that the company can
precisely analyse which cost shall be eliminated if the product is outsourced and
which cost can be carried on.
Minimum price – pricing is done for the product in such way that the market will be
ready to pay and the marketing manager shall know the product cost before deciding
the price of the product. It will assist the company to avoid the situation where the
company will lose money due to high pricing of product. ABC helps to determine
3MANAGEMENT ACCOUNTING
which cost is to be included under this minimum product price based on the
circumstances under which the product is to be sold (Guerrero-Baena, Gómez-Limón
and Fruet Cardozo 2013).
Cost for production facility – it becomes easy to differentiate the overhead cost at the
level of production plant which in turn enables the manager to compare the
production cost among various facilities (Linassi, Alberton and Marinho 2016).
Customer’s profitability – mostly the costs incurred by individual customers are
product cost that includes the overhead expenses and other costs like handling of
product return, high level of customer service and agreements for cooperative
marketing. ABC method can sort through the additional overhead costs and may assist
in determining which customer is earning the reasonable profit (Drury 2013).
However, some issues must be taken into consideration before implementing the ABC
system. These are –
Volume for cost pool – though the ABC system produces information of high quality,
it comes with the cost of various cost pools and cost of managing system increases
with additional cost pools. For reducing these costs, ongoing analysis of cost shall be
carried out with comparing the utility of each cost pool.
Time for installation – the ABC system is quite difficult to install as it may require
multi-year installations where the company try to install this across all the facilities
and products. Further, it is difficult to manage the high level budgetary support as
time wasted without the completion of installations (Fathi and Elham 2015).
Project basis – generally the ABC projects are allowed on basis of the project so that
the information is collected only once. Further, the information can be useful for the
current operational situation of the company. Therefore, management may not
authorize the funding for future ABC project.
which cost is to be included under this minimum product price based on the
circumstances under which the product is to be sold (Guerrero-Baena, Gómez-Limón
and Fruet Cardozo 2013).
Cost for production facility – it becomes easy to differentiate the overhead cost at the
level of production plant which in turn enables the manager to compare the
production cost among various facilities (Linassi, Alberton and Marinho 2016).
Customer’s profitability – mostly the costs incurred by individual customers are
product cost that includes the overhead expenses and other costs like handling of
product return, high level of customer service and agreements for cooperative
marketing. ABC method can sort through the additional overhead costs and may assist
in determining which customer is earning the reasonable profit (Drury 2013).
However, some issues must be taken into consideration before implementing the ABC
system. These are –
Volume for cost pool – though the ABC system produces information of high quality,
it comes with the cost of various cost pools and cost of managing system increases
with additional cost pools. For reducing these costs, ongoing analysis of cost shall be
carried out with comparing the utility of each cost pool.
Time for installation – the ABC system is quite difficult to install as it may require
multi-year installations where the company try to install this across all the facilities
and products. Further, it is difficult to manage the high level budgetary support as
time wasted without the completion of installations (Fathi and Elham 2015).
Project basis – generally the ABC projects are allowed on basis of the project so that
the information is collected only once. Further, the information can be useful for the
current operational situation of the company. Therefore, management may not
authorize the funding for future ABC project.
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4MANAGEMENT ACCOUNTING
Separate data set – the ABC system can rarely be constructed for pulling all the
information it requires from general ledger directly. Rather, it needs the separate
database that can pull the information from various sources and only one may be
existed in the general ledger accounts. Therefore it becomes difficult to manage the
extra database as it requires considerably additional staff time for which adequate
budget may not be there (Langfield-Smith et al. 2015).
Therefore, before implementing the ABC system all the above factors shall be taken
into account.
a. Computation of the per unit cost for listed activities based on activity drivers
Activity Total activity cost Activity driver Quantity of
activity driver
Cost per unit
of activity
Prepare annual accounts $ 5,000.00 None available
Process receivables $ 15,000.00 No. of invoices 5000 $ 3.00
Process payables $ 25,000.00 No. of purchase
orders 2500 $ 10.00
Program production $ 28,000.00 No. of production
schedules 1000 $ 28.00
Process sales order $ 40,000.00 No. of sales
orders 4000 $ 10.00
Dispatch sales order $ 30,000.00 No. of dispatches 2500 $ 12.00
Develop and test
products $ 60,000.00 Assigned directly
to product
Load mixers $ 14,050.00 No. of batches 1000 $ 14.05
Operate mixers $ 45,900.00 No. of kilograms 200000 $ 0.23
Clean mixers $ 6,900.00 No. of trays 1000 $ 6.90
Move mixers to filling $ 3,450.00 No. of cakes /
Pastries 200000 $ 0.02
Clean trays $ 20,000.00 No. of trays 16000 $ 1.25
Fill trays $ 16,000.00 No. of cakes /
Pastries 800000 $ 0.02
Move to baking $ 8,000.00 No. of trays 16000 $ 0.50
Set up ovens $ 50,000.00 No. of batches 1000 $ 50.00
Bake cakes / Pastries $ 130,000.00 No. of batches 1000 $ 130.00
Move to packing $ 40,000.00 No. of trays 16000 $ 2.50
Pack cakes / pastries $ 80,000.00 No. of cakes /
Pastries 800000 $ 0.10
Inspect pastries $ 2,500.00 No. of pastries 50000 $ 0.05
Separate data set – the ABC system can rarely be constructed for pulling all the
information it requires from general ledger directly. Rather, it needs the separate
database that can pull the information from various sources and only one may be
existed in the general ledger accounts. Therefore it becomes difficult to manage the
extra database as it requires considerably additional staff time for which adequate
budget may not be there (Langfield-Smith et al. 2015).
Therefore, before implementing the ABC system all the above factors shall be taken
into account.
a. Computation of the per unit cost for listed activities based on activity drivers
Activity Total activity cost Activity driver Quantity of
activity driver
Cost per unit
of activity
Prepare annual accounts $ 5,000.00 None available
Process receivables $ 15,000.00 No. of invoices 5000 $ 3.00
Process payables $ 25,000.00 No. of purchase
orders 2500 $ 10.00
Program production $ 28,000.00 No. of production
schedules 1000 $ 28.00
Process sales order $ 40,000.00 No. of sales
orders 4000 $ 10.00
Dispatch sales order $ 30,000.00 No. of dispatches 2500 $ 12.00
Develop and test
products $ 60,000.00 Assigned directly
to product
Load mixers $ 14,050.00 No. of batches 1000 $ 14.05
Operate mixers $ 45,900.00 No. of kilograms 200000 $ 0.23
Clean mixers $ 6,900.00 No. of trays 1000 $ 6.90
Move mixers to filling $ 3,450.00 No. of cakes /
Pastries 200000 $ 0.02
Clean trays $ 20,000.00 No. of trays 16000 $ 1.25
Fill trays $ 16,000.00 No. of cakes /
Pastries 800000 $ 0.02
Move to baking $ 8,000.00 No. of trays 16000 $ 0.50
Set up ovens $ 50,000.00 No. of batches 1000 $ 50.00
Bake cakes / Pastries $ 130,000.00 No. of batches 1000 $ 130.00
Move to packing $ 40,000.00 No. of trays 16000 $ 2.50
Pack cakes / pastries $ 80,000.00 No. of cakes /
Pastries 800000 $ 0.10
Inspect pastries $ 2,500.00 No. of pastries 50000 $ 0.05
5MANAGEMENT ACCOUNTING
b. Determining the per unit cost for Lamington and preparation of activity bill
Activity Cost per unit of
activity
Annual
quantit
y
Total cost per
activity
Process receivables $ 3.00 500 $ 1,500.00
Process payables $ 10.00 200 $ 2,000.00
Program production $ 28.00 100 $ 2,800.00
Process sales order $ 10.00 400 $ 4,000.00
Load mixers $ 14.05 100 $ 1,405.00
Operate mixers $ 0.23 30000 $ 6,885.00
Clean mixers $ 6.90 100 $ 690.00
Move mixers to filling $ 0.02 30000 $ 517.50
Clean trays $ 1.25 2000 $ 2,500.00
Fill trays $ 0.02 100000 $ 2,000.00
Move to baking $ 0.50 2000 $ 1,000.00
Set up ovens $ 50.00 100 $ 5,000.00
Bake cakes / Pastries $ 130.00 100 $ 13,000.00
Move to packing $ 2.50 2000 $ 5,000.00
Pack cakes / pastries $ 0.10 100000 $ 10,000.00
Dispatch sales order $ 12.00 500 $ 6,000.00
Develop and test product $ 600.00
Total $ 64,897.50
c. Other costs
Other costs that can be added to compute the cost of product for Lamington may
include labour cost, product inspection cost, operational cost, material cost associated with
the product.
b. Determining the per unit cost for Lamington and preparation of activity bill
Activity Cost per unit of
activity
Annual
quantit
y
Total cost per
activity
Process receivables $ 3.00 500 $ 1,500.00
Process payables $ 10.00 200 $ 2,000.00
Program production $ 28.00 100 $ 2,800.00
Process sales order $ 10.00 400 $ 4,000.00
Load mixers $ 14.05 100 $ 1,405.00
Operate mixers $ 0.23 30000 $ 6,885.00
Clean mixers $ 6.90 100 $ 690.00
Move mixers to filling $ 0.02 30000 $ 517.50
Clean trays $ 1.25 2000 $ 2,500.00
Fill trays $ 0.02 100000 $ 2,000.00
Move to baking $ 0.50 2000 $ 1,000.00
Set up ovens $ 50.00 100 $ 5,000.00
Bake cakes / Pastries $ 130.00 100 $ 13,000.00
Move to packing $ 2.50 2000 $ 5,000.00
Pack cakes / pastries $ 0.10 100000 $ 10,000.00
Dispatch sales order $ 12.00 500 $ 6,000.00
Develop and test product $ 600.00
Total $ 64,897.50
c. Other costs
Other costs that can be added to compute the cost of product for Lamington may
include labour cost, product inspection cost, operational cost, material cost associated with
the product.
6MANAGEMENT ACCOUNTING
Assessment task – Part B – Budgeting
Utilization of budgets for business decision evaluation
Once the business becomes operational it is important to manage the financial
performance of the company efficiently. Generating the process of budgeting is the most
efficient way for keeping the business and finance on the track. Structured planning can
create the actual difference with regard to the business growth and it enables the managers to
concentrate on the resources for improving the profits, minimising the costs and enhancing
the return on the investment (Lidia 2014). Key benefits for the business planning are that it
enables the manager for creating the focus on the business direction and delivers the target
that may help the business to grow. It also gives the opportunity for standing back and
analyse the performance and the factors that are affecting he business. Planning the budget
gives greater ability or making continuous improvements and solving the problems. It also
gives the appropriate financial information that can provide the base for decisions which in
turn create greater confidence in the process of decision making (Silva and Jayamaha 2012).
Further, various benefits of the business budget are as follows –
Helps in allocating the resources over the appropriate projects
Helps in planning for the future
Monitoring the performance
Meeting the objectives
Improving the decision making
Increasing the motivation of the staffs
a. Impact of the sales revenue
a. Fee structure and new plan for membership
Assessment task – Part B – Budgeting
Utilization of budgets for business decision evaluation
Once the business becomes operational it is important to manage the financial
performance of the company efficiently. Generating the process of budgeting is the most
efficient way for keeping the business and finance on the track. Structured planning can
create the actual difference with regard to the business growth and it enables the managers to
concentrate on the resources for improving the profits, minimising the costs and enhancing
the return on the investment (Lidia 2014). Key benefits for the business planning are that it
enables the manager for creating the focus on the business direction and delivers the target
that may help the business to grow. It also gives the opportunity for standing back and
analyse the performance and the factors that are affecting he business. Planning the budget
gives greater ability or making continuous improvements and solving the problems. It also
gives the appropriate financial information that can provide the base for decisions which in
turn create greater confidence in the process of decision making (Silva and Jayamaha 2012).
Further, various benefits of the business budget are as follows –
Helps in allocating the resources over the appropriate projects
Helps in planning for the future
Monitoring the performance
Meeting the objectives
Improving the decision making
Increasing the motivation of the staffs
a. Impact of the sales revenue
a. Fee structure and new plan for membership
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7MANAGEMENT ACCOUNTING
Receipts of cash plays important role for measuring the cash sales or credit sales and
analysing the cash flows. 2 major factors identified in HLW that have an impact on the cash
receipts are the annual membership fees and court fees that are charged on hourly basis.
Annual membership fees are the fixed fees and collected annually. Thus, the annual
membership fees are constant and fixed receipt, on the contrary, the court fees charged on
hourly basis ranges from $ 8 to $ 12 and vary on the basis of duration spent in the club, time
of the day, season of the year, number of the customers and prime or non-prime time. Thus, it
is not possible to accurately predict the receipt from court fees that are charged on hourly
basis (Damanpour and Aravind 2012). Implementation of the new membership plan will
enable the company to plan the cash in better manner as it will improve the cash flow
management and draft the future plan for minimising the situation of shortages of cash. It will
increase the probability of enhancing the profit with minimization of future as well as current
debts. However, implementation of the new fees structure will not affect the overall profit.
Implementation of the new plan the cash receipt plan of the company can be improved
as the court fees charged on hourly basis are taken out and thereby the annual membership
fees are only left for the purpose of charging. Therefore, the impacted on the receipt will be
greatly reduced and as the membership fees charged on annual basis are fixed and constant,
the receipts can be predicted (Weygandt, Kimmel and Kieso 2015). Further, the probability of
cash loss generated from the court fees charged on hourly basis will be reduced after
implementation of new membership plan. Thus, new plan implementation will improve the
efficiency and enhance the HLW’s ability for management of their cash and planning for the
future decision.
a. Impact of the sales revenue
Receipts from the membership fees
Particulars Amount
Receipts of cash plays important role for measuring the cash sales or credit sales and
analysing the cash flows. 2 major factors identified in HLW that have an impact on the cash
receipts are the annual membership fees and court fees that are charged on hourly basis.
Annual membership fees are the fixed fees and collected annually. Thus, the annual
membership fees are constant and fixed receipt, on the contrary, the court fees charged on
hourly basis ranges from $ 8 to $ 12 and vary on the basis of duration spent in the club, time
of the day, season of the year, number of the customers and prime or non-prime time. Thus, it
is not possible to accurately predict the receipt from court fees that are charged on hourly
basis (Damanpour and Aravind 2012). Implementation of the new membership plan will
enable the company to plan the cash in better manner as it will improve the cash flow
management and draft the future plan for minimising the situation of shortages of cash. It will
increase the probability of enhancing the profit with minimization of future as well as current
debts. However, implementation of the new fees structure will not affect the overall profit.
Implementation of the new plan the cash receipt plan of the company can be improved
as the court fees charged on hourly basis are taken out and thereby the annual membership
fees are only left for the purpose of charging. Therefore, the impacted on the receipt will be
greatly reduced and as the membership fees charged on annual basis are fixed and constant,
the receipts can be predicted (Weygandt, Kimmel and Kieso 2015). Further, the probability of
cash loss generated from the court fees charged on hourly basis will be reduced after
implementation of new membership plan. Thus, new plan implementation will improve the
efficiency and enhance the HLW’s ability for management of their cash and planning for the
future decision.
a. Impact of the sales revenue
Receipts from the membership fees
Particulars Amount
8MANAGEMENT ACCOUNTING
Individual $ 22,500.00
Student $ 15,000.00
Family $ 100,000.00
Total $ 137,500.00
Receipts from court fees
Particulars Amount
Prime time $ 86,400.00
Non-prime time $ 56,000.00
Off season $ 21,600.00
Total $ 164,000.00
Total receipt from the 2 sources will be = ($ 137,500 + $ 164, 000) = $ 301,500.
Computation of receipts after new plan implementation –
Receipts from membership fees will be –
New members = (2000 / 70%) = 1400 members
Under in case of campaign
Particulars Amount
Family $ 141,750.00
Individual $ 78,750.00
Total $ 220,500.00
Receipts under no campaign
Particulars Amount
Family $ 192,500.00
Individual $ 115,500.00
Total $ 308,000.00
Total receipts under new implementation plan
Particulars Amount
Under campaign $ 220,500.00
Under no-campaign $ 308,000.00
Total receipts $ 528,500.00
Individual $ 22,500.00
Student $ 15,000.00
Family $ 100,000.00
Total $ 137,500.00
Receipts from court fees
Particulars Amount
Prime time $ 86,400.00
Non-prime time $ 56,000.00
Off season $ 21,600.00
Total $ 164,000.00
Total receipt from the 2 sources will be = ($ 137,500 + $ 164, 000) = $ 301,500.
Computation of receipts after new plan implementation –
Receipts from membership fees will be –
New members = (2000 / 70%) = 1400 members
Under in case of campaign
Particulars Amount
Family $ 141,750.00
Individual $ 78,750.00
Total $ 220,500.00
Receipts under no campaign
Particulars Amount
Family $ 192,500.00
Individual $ 115,500.00
Total $ 308,000.00
Total receipts under new implementation plan
Particulars Amount
Under campaign $ 220,500.00
Under no-campaign $ 308,000.00
Total receipts $ 528,500.00
9MANAGEMENT ACCOUNTING
It can be identified from the above calculation that the plan for fees collection or new
membership plan will have effective and positive impact on processing and it will enhance
the generation of revenue as the incremental revenue will be ($ 528,500 - $ 301,500) = $
227,000.
b. Effect of sales revenue from the planned change in fee structure:
c. Analysis of the new fee structure and membership plan for rejecting it or adopting
it
For analysis, the following key factors were identified by HLW –
For analysing the membership plan entirely, HLW made various analyses on financial
aspect like the company calculated the liquid ratios for analysing the liquidity status. Further,
they also prepared the cash flow statement for controlling the available liquid funds.
It can be identified from the above calculation that the plan for fees collection or new
membership plan will have effective and positive impact on processing and it will enhance
the generation of revenue as the incremental revenue will be ($ 528,500 - $ 301,500) = $
227,000.
b. Effect of sales revenue from the planned change in fee structure:
c. Analysis of the new fee structure and membership plan for rejecting it or adopting
it
For analysis, the following key factors were identified by HLW –
For analysing the membership plan entirely, HLW made various analyses on financial
aspect like the company calculated the liquid ratios for analysing the liquidity status. Further,
they also prepared the cash flow statement for controlling the available liquid funds.
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10MANAGEMENT ACCOUNTING
Moreover, they tried to maintain sufficient balance between the amount of cash inflows and
outflows. For the purpose of achieving the target they also prepared the flexible budget and
the statement for estimation of cash flows (McVay 2015). The HLW management recognized
that the minimization of the administration cost after new membership plan implementation
as the club will no more be required to prepare the revenue collection data on regular basis
(Burns and Walker 2015). However, initially the plan may get adverse opinion from the
management as they will face problem in collecting the membership fees. Moreover, the
onetime fees may seem to be a burden for the members which in turn may reduce the number
of members considerably. Further, as per the new membership plan the members required to
pay the payment for entire year as the advance payment (Estampe et al. 2013). Therefore, as
per the new policy onetime cash budgets is required to be prepared as the payment will be
made once in the year. However, to execute the plan successfully effective cash management
is required to be in place that includes controlling and managing the cash efficiently.
It has been concluded from the above analysis that Activity based costing can be used
for achieving target deduction in the overhead expenses. It works best in the complex
circumstance where many products and machines are there, processes are tangled and not
easy for sorting out. ABC identifies the special training, machine set up, special engineering
and other activities that generate costs and lead the company to the consumer resources.
However, it is not of much importance where the process of production is simple. On the
other hand, planning the budget gives greater ability or making continuous improvements and
solving the problems. It also gives the appropriate financial information that can provide the
base for decisions which in turn create greater confidence in the process of decision making.
Moreover, they tried to maintain sufficient balance between the amount of cash inflows and
outflows. For the purpose of achieving the target they also prepared the flexible budget and
the statement for estimation of cash flows (McVay 2015). The HLW management recognized
that the minimization of the administration cost after new membership plan implementation
as the club will no more be required to prepare the revenue collection data on regular basis
(Burns and Walker 2015). However, initially the plan may get adverse opinion from the
management as they will face problem in collecting the membership fees. Moreover, the
onetime fees may seem to be a burden for the members which in turn may reduce the number
of members considerably. Further, as per the new membership plan the members required to
pay the payment for entire year as the advance payment (Estampe et al. 2013). Therefore, as
per the new policy onetime cash budgets is required to be prepared as the payment will be
made once in the year. However, to execute the plan successfully effective cash management
is required to be in place that includes controlling and managing the cash efficiently.
It has been concluded from the above analysis that Activity based costing can be used
for achieving target deduction in the overhead expenses. It works best in the complex
circumstance where many products and machines are there, processes are tangled and not
easy for sorting out. ABC identifies the special training, machine set up, special engineering
and other activities that generate costs and lead the company to the consumer resources.
However, it is not of much importance where the process of production is simple. On the
other hand, planning the budget gives greater ability or making continuous improvements and
solving the problems. It also gives the appropriate financial information that can provide the
base for decisions which in turn create greater confidence in the process of decision making.
11MANAGEMENT ACCOUNTING
Reference
Bhimani, A. 2012, Introduction to management accounting,Financial Times Prentice Hall,
Harlow.
Bunn, D., Koc, V. and Sapio, A. 2015, "Resource externalities and the persistence of
heterogeneous pricing behavior in an energy commodity market", Energy Economics, vol.
48, pp. 265-275.
Burns, R. and Walker, J., 2015. Capital budgeting surveys: the future is now.
Damanpour, F. and Aravind, D., 2012. Managerial innovation: Conceptions, processes, and
antecedents. Management and Organization Review, 8(2), pp.423-454.
Drury, C.M., 2013. Management and cost accounting. Springer.
Estampe, D., Lamouri, S., Paris, J.L. and Brahim-Djelloul, S., 2013. A framework for
analysing supply chain performance evaluation models. International Journal of Production
Economics, 142(2), pp.247-258.
Fathi, Z. and Elham, M.D., 2015, A survey of activity-based costing in hotel industry,
Management Science Letters, vol. 5, no. 9, pp. 855-860.
Guerrero-Baena, M.D., Gómez-Limón, J.A. and Fruet Cardozo, J.V. 2013, "The capital
budgeting process: A methodological approach based on financial and intellectual value
creation", Intangible Capital, vol. 9, no. 4.
Langfield-Smith, K., Thorne, H., Smith, D.A. and Hilton, R.W. 2015, Management
accounting: information for creating and managing value, 7e [] edn, McGraw-Hill Education,
North Ryde, N.S.W.
Reference
Bhimani, A. 2012, Introduction to management accounting,Financial Times Prentice Hall,
Harlow.
Bunn, D., Koc, V. and Sapio, A. 2015, "Resource externalities and the persistence of
heterogeneous pricing behavior in an energy commodity market", Energy Economics, vol.
48, pp. 265-275.
Burns, R. and Walker, J., 2015. Capital budgeting surveys: the future is now.
Damanpour, F. and Aravind, D., 2012. Managerial innovation: Conceptions, processes, and
antecedents. Management and Organization Review, 8(2), pp.423-454.
Drury, C.M., 2013. Management and cost accounting. Springer.
Estampe, D., Lamouri, S., Paris, J.L. and Brahim-Djelloul, S., 2013. A framework for
analysing supply chain performance evaluation models. International Journal of Production
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12MANAGEMENT ACCOUNTING
Lidia, T.G. 2014, Difficulties of the Budgeting Process and Factors Leading to the Decision
to Implement this Management Tool, Procedia Economics and Finance, vol. 15, pp. 466-473.
Linassi, R., Alberton, A. and Marinho, S.V. 2016, "Menu engineering and activity-based
costing: An improved method of menu planning", International Journal of Contemporary
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McVay, G.J. 2015, "The effects of compensation scheme, source credibility, and receiver
involvement on the organizational budgeting process", Academy of Accounting and Financial
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Silva, L.M.D. and Jayamaha, A., 2012. Budgetary process and organizational performance of
apparel industry in Sri Lanka. Journal of Emerging Trends in Economics and Management
Sciences, 3(4), p.354.
Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015. Financial & Managerial Accounting.
John Wiley & Sons.
Lidia, T.G. 2014, Difficulties of the Budgeting Process and Factors Leading to the Decision
to Implement this Management Tool, Procedia Economics and Finance, vol. 15, pp. 466-473.
Linassi, R., Alberton, A. and Marinho, S.V. 2016, "Menu engineering and activity-based
costing: An improved method of menu planning", International Journal of Contemporary
Hospitality Management, vol. 28, no. 7, pp. 1417-1440.
McVay, G.J. 2015, "The effects of compensation scheme, source credibility, and receiver
involvement on the organizational budgeting process", Academy of Accounting and Financial
Studies Journal, vol. 19, no. 3, pp. 217.
Silva, L.M.D. and Jayamaha, A., 2012. Budgetary process and organizational performance of
apparel industry in Sri Lanka. Journal of Emerging Trends in Economics and Management
Sciences, 3(4), p.354.
Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015. Financial & Managerial Accounting.
John Wiley & Sons.
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