Activity Based Costing Analysis
Added on 2020-02-24
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Management Accounting for cost & control
1By student name ProfessorUniversityDate: 28 August 2017.1 | P a g e
2ContentsQuestion no 1..............................................................................2Question no 2..............................................................................2Question no 3..............................................................................2Question no 4..............................................................................4Question no 5..............................................................................6Question no 6..............................................................................7Question no 7..............................................................................8Question no 8..............................................................................9Question no 9...........................................................................13Question no 10...........................................................................15Refrences....................................................................................172 | P a g e
3Question 1Preparation of the business reports is very viable for any organisation. It helps the managementin taking important decisions in relation to the business. The reports can be prepared monthly, weeklyor on special basis as the manager may demand. It is important that the reports are prepared withutmost precision so that the overall decisions that the managers take are correct. There are varioustypes of business reports, that include the financial statements, the cash flow statement, the pricingstatement etc. These reports help the management to take important decisions keeping the investorsand the shareholders in mind. If the managers feel, they can ask for expert advice while studying theaccuracy of the overall report. It helps the management and the investors to get a snapshot of thefinancial position of the company and then base their decisions on the same. In this way, the reports arehelpful to the managers. [ CITATION Ann17 \l 1033 ].Question 2Proper cost control methods must be installed by the mangers to make sure that theorganisation is functioning without any loopholes. Once the planning is done, and the plans are laid out,the main aim of the manager will be to make sure that these are implemented with precision, in thatcontrol functions, plays an important role. . Panopticm is a social theory that has been developed by aFrench philosopher. It puts pressure on the point that people who are involved in the overall mechanismof a process, functions better when they know that they are placed under some surveillance by theauthority. If the same is applied in an organisation, if the employees of the company functions keepingin mind that they are under constant supervision, there will not be any loophole. They will always try toperform better so that they are able to impress the management. In this way, these control methods arehelpful to the company. [ CITATION Hop17 \l 1033 ].Question 3The main four process of product costing that has been identified in the text are –Product costing in financial accounting is something, which helps in ascertaining what is theeffect on the finances of the cost of the product. It can be used in the calculation of the closingstock of good, other valuation measure3 | P a g e
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