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Management Accounting - Solved Assignment PDF

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Added on  2021-06-17

Management Accounting - Solved Assignment PDF

   Added on 2021-06-17

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Management AccountingWesfarmers Limited
Management Accounting - Solved Assignment PDF_1
MANAGEMENT ACCOUNTING1Executive SummaryThis report is about the management accounting tool, their importance, and assistance in thefunctioning of the business organization. In order to continue this Wesfarmers Company hasbeen selected to provide the explanation of how Activity-based costing will assist it inattaining strategies.
Management Accounting - Solved Assignment PDF_2
MANAGEMENT ACCOUNTING2Table of ContentsExecutive Summary...................................................................................................................1Introduction................................................................................................................................3Activity Based Costing..........................................................................................................3Features of Activity Based Costing....................................................................................5Background of Wesfarmers....................................................................................................5Mission of Wesfarmers..........................................................................................................6Objectives of Wesfarmers......................................................................................................6Corporate Strategies of Wesfarmers......................................................................................6Marketing Mix...................................................................................................................6How ABC will assist Wesfarmers in Achieving Strategies...................................................7Recognize Costs.................................................................................................................8Load secondary pools of cost.............................................................................................8Load primary pools of cost................................................................................................8Evaluate activity drivers.....................................................................................................8Assign costs in secondary pools to primary pools.............................................................8Charging cost to the cost objects........................................................................................8Formulate Report...............................................................................................................8Act on the data or information...........................................................................................8Recommendations for Implementing ABC Model................................................................9The suggestion of Management Accounting Tool.................................................................9Conclusion..................................................................................................................................9References................................................................................................................................11
Management Accounting - Solved Assignment PDF_3
MANAGEMENT ACCOUNTING3IntroductionAccounting is the procedure of recording, cataloging, and writing of transactions and eventsof the business organization (Accounting tools, 2018). It is responsible for offering feedbackto the administration of the company about its financial status and results. Same asaccounting management accounting is also very beneficial and important for everyorganization as it the procedure of examining, understanding and presenting information ofaccounting gathered with the support of cost accounting and financial accounting to supportmanagement in the decision-making process, forming policy and daily action of anorganization (Adler, 2013). This report will elaborate the use and importance of managementaccounting tool i.e. Activity-based costing which will be applied in Wesfarmers Company toknow how it will support in attaining company's strategies. Before this, an overview of thecompany will be provided along with its mission and objectives. In the recommendations ofthe implementation of ABC Model will be provided and suggestion of one more managementaccounting tool will be given which can also be applied in Wesfarmers. Activity Based CostingSource [(ScaleX, 2018)]
Management Accounting - Solved Assignment PDF_4

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