A Presentation on cost and management accounting
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This presentation covers cost and management accounting. It discusses tools like financial analysis, budgeting, and standard costing. It defines marginal costing as the change in total cost from producing an additional unit, and explains concepts like contribution, profit-volume ratio, break-even point, and margin of safety. Absorption costing fully allocates both direct and indirect costs to inventory for valuation. While marginal costing is useful for startups to assess contribution and break-even, absorption costing provides a more comprehensive view of costs and is generally better for strategic decision making.
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Managerial accounting assignment help pdf
GoAssignmentHelp helps you fetch the top grades by providing
expert assignment assistance. Our teams of fully dedicated assignment masters are
professionals, Masters and PhD scholars who vast GoAssignmentHelp helps you fetch the top grades by providing
expert assignment assistance. Our teams of fully dedicated assignment masters are
professionals, Masters and PhD scholars who vast understanding of the subject and provides unique assignment assistance. understanding of the subject and provides
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The document discusses cost-volume-profit (CVP) analysis, which involves making assumptions about how costs and revenues change with production volume. The key assumptions are that costs can be separated into fixed and variable components, and that revenues and costs change linearly with volume. CVP analysis is used to determine the break-even point and output needed to achieve a target profit level. It can also incorporate the effects of income taxes and multiple products or cost drivers.
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Joint product and by product costing
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This document provides an overview of topics related to tariffs and global agri-food trade, including:
- Types of commercial policies such as tariffs, quotas, subsidies, and non-tariff barriers.
- Definitions and effects of tariffs, including consumer surplus, producer surplus, deadweight costs for small countries.
- Maximum bound tariff rates that countries can impose according to the World Trade Organization, which generally are lower for high-income countries and higher for developing countries.
Break even analysis- profit maximization ppt
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Cost volume and profit relationship
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Introduction to cost & management accounting
Cost and management accounting involves three parts: financial accounting, cost accounting, and management accounting. Financial accounting records and reports on financial transactions and statements. Cost accounting records and measures cost information for decision making and performance evaluation. Management accounting provides accounting data to management for planning, decision making, control, and motivation of employees. It has a different structure, principles, users, and timeliness than financial accounting.
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If truth be told, constructing a home is not as easy as it sounds. Moreover, with the increasing land rates, material prices, and labour charges, keeping the house construction costs under control is one of the most challenging aspects. However, with due diligence and planning in place, individual home builders (IHBs) can make significant savings on overall construction costs. In this blog, explore six different, yet connected, ways to reduce construction costs for you.
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2. It outlines the functions of cost accounting like ascertaining, estimating, and controlling costs to improve efficiency and reduce costs.
3. It describes a cost sheet, which is a report that accumulates all costs associated with a product or job, and can be used for cost control and setting future prices.
BBA SEM 5 PPT 1 PSMDCBSDKB GNMF VCSDVSDV VHV
This document provides an introduction to cost accounting. It defines cost accounting as the recording and presentation of business transactions related to production for measurement and control purposes. Cost accounting differs from financial accounting in that it focuses on internal transactions and provides information to management for decision making. The objectives of cost accounting include controlling and reducing costs, determining selling prices, assisting management with decisions, and ensuring profit from each business activity.
Cost concept
Cost accounting is the process of tracking and recording costs associated with manufacturing or producing goods and services. It helps management make informed business decisions and set prices through cost analysis and control. The key objectives of cost accounting are to determine the actual cost of products, identify inefficiencies, provide cost comparisons, and analyze trends to help set production policies and programs. Maintaining an effective cost accounting system provides businesses with valuable information for activities like profitability analysis, inventory valuation, budgeting, and financial reporting.
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A Presentation on cost and management accounting
- 1. A PRESENTATION ON COST & MANAGEMENT ACCOUNTING PRESENTED BY : SAI PRIYANKA KURAPATI
- 2. Contents covered under this topic Definition of management accounting Tools & techniques of management accounting Meaning of the marginal and absorption costing Difference between marginal costing & absorption costing Conclusion
- 4. Tools and techniques used in management accounting Financial policy and accounting Analysis of financial statements Historical cost accounting Budgetary control Standard costing Marginal costing Control accounting
- 5. MEANING OF MARGINAL COSTING ■ Marginal costing is also known as variable costing. ■ It refers to the movement in the total cost, due to the production of an additional unit of the output. ■ Formula :- change in total cost / change in the quantity produced ■ The concepts that we have to understand in the marginal cost are as follows: 1.Contribution 2.Profit volume ratio 3.Break even point 4.Margin of safety 5.CVP analysis
- 6. Meaning of absorption costing It is a method for inventory valuation , where by all manufacturing expenses are allocated to the cost centers to recognize total cost of production . It is the traditional method for the cost ascertainment , also known as Full absorption costing. FORMULA: Total cost = direct cost + indirect costs
- 8. Conclusion From the above discussion , finally I concluded as follows: Conclusion regarding the tools & techniques of management accounting These techniques are applicable in an organization to help in planning, supporting decisions of management , improve the organization performance & enhance the chances for a high rate of return in the future. Conclusion regarding the marginal & absorption costing: It is clear that absorption costing is a better method than marginal costing in usefulness . but, if a company has just started out & the purpose is to see the contribution per unit & the break – even point , the marginal cost may be useful. Otherwise, it is better to use absorption costing. It will help a firm to look at their cost comprehensively & they will be able to strategize around their cost effectively.