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ABC Model for Managerial Accounting in Crown Resorts

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Added on  2021-06-15

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MANAGEMENT ACCOUNTING 9 Managerial Accounting Managerial Accounting Crown Resorts [Type the phone number] [Type the fax number] 5/8/2018 Crown Resorts [Type the phone number] [Type the fax number] 5/8/2018 Executive Summary This report is being prepared in order to describe how ABC model can enhance the information of management accounting accessible to the top management team of Crown resorts. Executive Summary 1 Introduction 3 ABC Model 3 Features of ABC Model 4 Background of Crown Resort 4 Mission and objective of Crown Resort 4

ABC Model for Managerial Accounting in Crown Resorts

   Added on 2021-06-15

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Managerial AccountingC r o w n R e s o r t s[ T y p e t h e p h o n e n u m b e r ][ T y p e t h e f a x n u m b e r ]
ABC Model for Managerial Accounting in Crown Resorts_1
MANAGEMENT ACCOUNTING1Executive SummaryThis report is being prepared in order to describe how ABC model can enhance theinformation of management accounting accessible to the top management team of Crownresorts.
ABC Model for Managerial Accounting in Crown Resorts_2
MANAGEMENT ACCOUNTING2Table of ContentsExecutive Summary...................................................................................................................1Introduction................................................................................................................................3ABC Model............................................................................................................................3Features of ABC Model.........................................................................................................4Background of Crown Resort.................................................................................................4Mission and objective of Crown Resort.................................................................................4Objectives of Crown Resorts Limited are:.............................................................................5Corporate Strategies of Crown Resort...................................................................................5Marketing Mix of Crown Resort........................................................................................5ABC model assist in achieving the company’s strategies......................................................7Activity Identification........................................................................................................8Activity Analysis................................................................................................................8Assignment of Costs..........................................................................................................9Calculate Activity Rates.....................................................................................................9Assign Costs to Cost Objects.............................................................................................9Prepare and Distribute Management Reports....................................................................9Recommendations for implementation of ABC in Crown Resort.........................................9The suggestion of the Management Accounting Tool...........................................................9Conclusion................................................................................................................................10References................................................................................................................................11
ABC Model for Managerial Accounting in Crown Resorts_3
MANAGEMENT ACCOUNTING3IntroductionThis report will involve a detailed explanation of the concept of ABC model and its features.Identification of the objectives and mission of the Crown Resorts will be done. The corporatestrategies of the company will be discussed in this report and how ABC model will assist it inachieving its strategies. In relations to the implementation of the ABC model in Crown resort,two recommendations will be provided. Apart from this suggestion of other managementaccounting tool will be given which will be suitable for the company. ABC ModelActivity-based costing is called as a method of accounting that supports in recognizing theactivities that are executed by a company and then allot indirect cost to the products. Asystem of activity based costing identify the relationship between products, activities, andcosts, and by this relationship, it allocates indirect costs to the products less casually asmatched to traditional methods (Zeuner, 2012). This costing is majorly used in the industry ofmanufacturing as it improves the dependability of cost data, therefore offering approximatelycorrect costs and better categorizing the costs experienced by the company in the process ofproduction (Moisello, 2012). This system of costing is utilized in target costing, product costing, profitability analysis ofcustomer, service pricing, and analysis of product line profitability. It is also vastly popularfrom the time when companies can create a better corporate focus and policy if costs are wellgrasped. The cost accounting system of ABC system is constructed on doing, which can besaid as an event, task or work with a precise goal like designing products, operatingmachines, for a production setting up machines, allocating finished goods. Activities takeoverhead resources and are measured cast objects. Under this system, an activity or action
ABC Model for Managerial Accounting in Crown Resorts_4

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