Assignment on Techniques of Managerial Accounting
Added on 2020-04-07
19 Pages1286 Words80 Views
Running head: MANAGERIAL ACCOUNTINGManagerial AccountingName of the StudentName of the UniversityAuthor’s Note
1MANAGERIAL ACCOUNTINGTable of ContentsAnswer to Question 1......................................................................................................................2Requirement A.............................................................................................................................2Requirement B.............................................................................................................................3Answer to Question 2......................................................................................................................4Answer to Question 3......................................................................................................................6Requirement a..............................................................................................................................6Requirement b..............................................................................................................................7Answer to Question 4......................................................................................................................8Requirement A.............................................................................................................................8Requirement B...........................................................................................................................10Answer to Question 5....................................................................................................................13Requirement A...........................................................................................................................13Requirement B...........................................................................................................................15References......................................................................................................................................17
2MANAGERIAL ACCOUNTINGAnswer to Question 1Requirement A
3MANAGERIAL ACCOUNTINGRequirement B4500 years ago, in the construction of the great pyramid of Giza, the cost accountingformat was used. Wide difference can be seen between the use of the great pyramid and itscurrent construction. At that time, pyramid was use with the application of traditional approach.There were different stages in traditional approach like planning, initiating, executing, designingand closing1. However, there were some major setbacks of that traditional cost accountingmethod. In the modern cost management accounting, application of different techniques ofconstruction can be seen. It can be said that with the help of modern cost accounting process, theconstruction of the great pyramid of Giza would be more appropriate. Segregation of cost is acrucial way to manage the construction cost. It is assumed that cost of each unit of product issame as the cost of other unit2. With the assistance of modern cost accounting techniques, actualproduction cost can easily be assigned. Thus, from the above discussion, it can be understoodthat the modern techniques for cost accounting is more appropriate than the traditionaltechniques for cost accounting. In addition, it needs to be mentioned that the modern costaccounting methods can be applied based on the nature and types of the companies. 1DRURY, COLIN M.Management and cost accounting. Springer, 2013.2Vanderbeck, Edward J.Principles of cost accounting. Cengage Learning, 2012.
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