logo

Managerial Accounting - Sample Assignment

13 Pages2780 Words28 Views
   

Added on  2021-05-31

Managerial Accounting - Sample Assignment

   Added on 2021-05-31

ShareRelated Documents
Managerial Accounting 1MANAGERIAL ACCOUNTINGAuthor’s Name
Managerial Accounting - Sample Assignment_1
Managerial Accounting 2Course TitleProfessorCityDate
Managerial Accounting - Sample Assignment_2
Managerial Accounting 3ExecutiveSummaryThis report presents analysis of ABC model as one of the management costing system and its relation with Treasury Wine Estates. ABC is one of the most powerful tools used in measuring an organization’s performance. It is utilized in identifying, assigning and describing different costs to the agency operations or business processes. ABC is the multi-level cost allocation technique where different costs are driven in stages; that is, from activityto activity, and from one stage to the other. It is usually a more detailed technique to attributing costs, first to their activities and to their cost objects which is said to create some demand for such indirect costs. Based on the analysis, it was found out that Treasury Wine Estate can utilize ABC in replacing it current standard costing, since the model could assist the firm to doing better cost management which would in turn assist it achieve it key objectives. Basically, increasing profitability or improving financial performance is a complex thing for any firm, which has numerous aspects require to be considered. Hence, it was found that ABC could assist Treasury Wine Estate making more profits that could in turnassist in improving its profitability and sales level.
Managerial Accounting - Sample Assignment_3
Managerial Accounting 4IntroductionAn increasing number of different forms are using the ABC in gaining some insights into manufacturing processes and product process. With these, the report aims at presenting what ABC is all about. It also aims to present its features and how the modelaligns with existing goals as well as strategies of one of the ASX listed company. Additionally, the report would present some of the recommendations in implementing ABC explaining how this model could improve management accounting information onthe company’s top management team. Finally, the report would explain other management accounting tool which would be suitable for the company.Explanation ofABC ModelandItsFeaturesABC is one of the management accounting tool indicating how different resources are utilized by activities in producing products or outputs beneficial to clients (Bufi & Moilanen 2014). Besides, ABC is one of the most powerful tools used in measuring an organization’s performance. It is utilized in identifying, assigning and describing different costs to the agency operations or business processes (Innes & Kouhy 2011). The tool is said to offer moreaccurate management costing system than the traditional costing accounting in identifying available opportunities for improvement of the business processes efficiency and effectiveness through determination of true costs of the services or products. Additionally, ABC utilizes or employs cost drivers in assigning costs from different activities to the outputs(Theriou, Theriou & Papadopoulos 2007). In other words, ABC is the multi-level cost allocation technique where different costs are driven in stages; that is, from activity to activity, and from one stage to the other. Further, ABC is said to encourages organization’s management in evaluating cost-effectiveness and efficiency of the program activities. its
Managerial Accounting - Sample Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Treasury Wine Estates: Accounting Strategy Analysis
|10
|1246
|56

Cost Analysis of Wine River Winery: ABC Costing and Variance Analysis
|9
|1094
|277

ABC Model for Managerial Accounting in Crown Resorts
|14
|2771
|396

ABC Costing Model for Common Wealth Bank: Analysis and Recommendations
|11
|2677
|223

Activity-Based Costing (ABC) Model
|12
|2452
|158

Managerial Accounting : Solved Assignment
|15
|2731
|46