Management Accounting | Managerial Accounting Assignment
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Added on 2020-05-28
Management Accounting | Managerial Accounting Assignment
Added on 2020-05-28
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Managerial Accounting
Managerial Accounting 1ContentsIntroduction......................................................................................................................................2Overview of company......................................................................................................................3Mission........................................................................................................................................4Vision...........................................................................................................................................4Values of company......................................................................................................................4TDABC (Time-Driven Activity-Based Costing).............................................................................5Time equation..............................................................................................................................6Time-Driven Activity-Based Costing Features...........................................................................6Difference between TDABC and Activity- Based Costing and Traditional costing system...........7TDABC and Activity- Based Costing.........................................................................................7TDABC and Traditional costing system......................................................................................8Suitability of Time-Driven Activity-Based Costing for firm..........................................................8Conclusion.....................................................................................................................................11References......................................................................................................................................12
Managerial Accounting 2Introduction Time-driven Activity-based costing methodology is an advanced system of the Activity-based costing method. Traditional ABC method is one of the popular methods in business writing and management circles. Though, this method is time-consuming and costly for the company to implement this method in an organisation. Kaplan and Anderson decided to bring the improvement in the process which is now known as Time-driven Activity-based costing. The report will provide the description related to the concept along with its features. The company that has been selected for the analysis is Brigham and Women’s hospital. The report talks about the operations and the working of the company along with that how this method is suitable for the company. This method is different from traditional costing system and with the Activity-based costing approach which is discussed in the report.
Managerial Accounting 3Overview of company Brigham Health is a world-wide leader that devote to sustaining and restoring well-being for people across the world. The company is consists of Brigham and Women's Hospital, Women's Physicians Organization, and Women's Faulkner Hospital. BWH is an international leader whichis contributing to the improvements in the lives of the world. This hospital is also known as one of the foremost training hospitals of HMS (Harvard Medical School). Thus, the company has the legacy of superiority to continue to rise year after year. BWH consist of the 150 outpatient’s practices with more than 1,200 medical doctors. The company attends patients from New England all the way through the US with 120 countries globally (Brigham and Women’s Hospital, 2016). The company has the culture of research and innovation that emphasis on the business practices. BWH emphasis on the development of new and innovative methods to keep the people in optimal health and fight diseases that might threaten their well-being. The company provide the access to the education, information and care through numerous places that consist of the national and international affiliates. BWH is dedicated to offers the highest-quality, family and patient-centered care. The company is an established supporter of Partners Healthcare systems which is one of the greatest prominent incorporated delivery structures in the United States (Partners Healthcare, 2017). The company financed approximately $4.45 million to upkeep community-led health equity hardwork that takes place in the 5 important neighborhoods that include Mattapan, Mission Hill, Dorchester, Roxbury and Jamaica Plain. BWH is known for its specialty in vascular and heart care, neurosurgical and neurologic care, cancer care, arthritis and orthopedic treatment, women's
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