Managerial Accounting Assignment | Volkswagen Group
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Added on 2020-05-28
Managerial Accounting Assignment | Volkswagen Group
Added on 2020-05-28
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RRUManagerial Accounting
MANAGERIAL ACCOUNTING1Table of ContentsIntroduction...........................................................................................................................................2Background of Volkswagen Company................................................................................................2Mission of Volkswagen Group.......................................................................................................3Marketing Strategy of Volkswagen Group.....................................................................................3Technology of Volkswagen Group.................................................................................................3Overview of Time-Driven Activity-Based Costing...............................................................................4Features of Time-Driven Activity-Based Costing............................................................................6Differences between Time-Driven Activity-Based Costing, Traditional Costing, and Activity-Based Costing...............................................................................................................................................7Suitability of Time-Driven Activity-Based Costing for Volkswagen Company....................................8Conclusion.............................................................................................................................................9References...........................................................................................................................................10
MANAGERIAL ACCOUNTING2IntroductionThe report is being prepared to identify the concept of Time-Driven Activity-Based Costingand its features. Along with this, it will explain the difference between Time-Driven Activity-Based Costing, Traditional Costing, and Activity-Based Costing. Further, the report willassist Volkswagen Company a client of management consultancy firm in identifying whetherthe Time-Driven Activity-based Costing is appropriate for their company's environment andprocesses or not. Background of Volkswagen CompanyThe Volkswagen AG is internationally known as Volkswagen Group. It is a Germancompany deal in the manufacturing of automotive automobiles and has it's headquartered inWolfsburg, Germany. Commercial and turbomachinery are designed and manufactured bythis company and along with this they also offer related services such as fleet management,leasing, and financing. In 2016, the company overtake the Toyota Company and became thelargest automaker in the world by sales. For over two decades it has been successful inmaintaining Europe’s largest market share. In 2016, the company was declared as world'ssecond-biggest manufacturer vehicles in the automobile industry by the report ofOrganization Internationale des Cosntructeurs d’Automobiles. According to the productionvolume, the second biggest automobile manufacturer is Volkswagen Group, behind Toyota. The passenger cars sold by Volkswagen Group under the Lamborgini, SEAT, Bentley,Skoda, Audi, Volkswagen marques, Porsche, and Bugatti; marques MAN, Scania brandunder commercial vehicles and Ducati brand under motorcycles.
MANAGERIAL ACCOUNTING3Mission of Volkswagen GroupThe mission of the group is to offer vehicles with safe, attractive and environmentally soundfeatures, which can survive in a competitive and tough market and set standards in the world.Marketing Strategy of Volkswagen GroupThe major focus of the company is towards increasing their core business by enhancingproductivity and decreasing production cost. In order to achieve following goals, thecompany is concentrating on various strategies such as divestment of non-core segments, newmodels introduction, and restructuring. The aim of the Volkswagen Group is to provideproducts with good quality, safe environment, and enhanced productivity. The company hasadopted Double marketing strategy for the brand positioning. The meaning of Doublemarketing is not spreading numerous messages in a single campaign, but various messages inmultiple campaigns are promoted parallel. The company who followed this strategy is Cokedue to the presence of high budget of marketing. In that campaign, various ads werepromoted at the same time but the outcomes of those campaigns were not positive. The concentration of Volkswagen Group is on the easy obtainability of the vehicles for thisthey have established 44 manufacturing sites in various countries of the world. Productsbranding in different sections of manufacturing lines is the Volkswagen Group’s marketingstrategies.Technology of Volkswagen GroupBlueprinting technology is used by Volkswagen Group which means the science of enginereconstructing. In the blueprinting process balancing, carefully fitting, and measuring is beingperformed which create an engine for performance enhancement. The Blueprinting processinvolves setting all receiving the engine to its best value. The technologies which are used by
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