The class will use data from a real social enterprise and using Microsoft Excel to develop a basic costing analysis, and will also focus on identifying key financial considerations unique to social enterprise.
http://www.socialentrepreneurship.ca/
ENTR4800 Class 5 (Part 1): Conducting a Costing Analysis for Social EnterpriseSocial Entrepreneurship
This document summarizes a class on conducting a costing analysis for social enterprises. It discusses constructing a financial model in Excel by listing known and unknown assumptions, calculating costs and revenues, and performing sensitivity analyses like break-even and best-worst scenario analysis. Researching unknown "blue cell" data is important. Conducting a thorough costing analysis with appropriate methodologies and clearly separating known from unknown information can help social enterprises evaluate financial viability.
APS1015H Class 5 - Conducting a Costing Analysis for Social EnterpriseSocial Entrepreneurship
The first half of this class will be run workshop style using data from a real social enterprise and using Microsoft Excel to develop a basic costing analysis. The second half will focus on identifying key financial considerations unique to social enterprise.
1) The document discusses different types of firms including proprietorships, partnerships, corporations, and nonprofits.
2) It examines production functions and how they model the relationship between inputs used and the output produced. Common functional forms like Cobb-Douglas are presented.
3) The concepts of profit maximization, marginal analysis, and first-order conditions are introduced in the context of a firm's behavior.
Cgap bank business_case_branchless_banking_c2rounakdholakia
Transaction costs through agents are approximately 50% lower than branches and ATMs at low transaction volumes. There are three main reasons for banks to pursue agent banking: as an additional efficient channel, for growth into new geographies and customer segments, and to enable a low-margin payments-led business model. Evidence shows agents can reduce costs for banks by providing value to existing customers. As a growth channel, banks expect favorable economics entering new markets and serving the unbanked through agents. Agents facilitate rapidly deploying payments services with minimal margins.
4 the theory of the firm and the cost of productionMalinga Perera
The document discusses the theory of the firm and the cost of production. It defines the production function as the relationship between inputs and outputs. It classifies inputs as land, labor, and capital. It then discusses the mathematical representation of the production function and analyzes production in the short run and long run. It also discusses concepts like marginal product, diminishing marginal returns, total cost, average cost, marginal cost, revenue, and profit.
This document discusses cost concepts from an accounting and analytical perspective. It defines different types of costs such as fixed, variable, total, average, and marginal cost. It explains the relationship between these costs and how they change with varying levels of output in the short-run and long-run. The short-run cost curves are U-shaped while the long-run average cost curve is U-shaped, reflecting economies and diseconomies of scale. Other concepts covered include opportunity cost, sunk cost, learning curves, and economies of scope.
On successful completion of this module the student will be able to:
1. Evaluate the performance of a company using various financial analytical tools.
2. Analyze different patterns of cost behaviour and apply cost-volume-profit analysis to
business decisions..
3. Evaluate divisional performance using both financial and non-financial measures
ENTR4800 Class 5 (Part 1): Conducting a Costing Analysis for Social EnterpriseSocial Entrepreneurship
This document summarizes a class on conducting a costing analysis for social enterprises. It discusses constructing a financial model in Excel by listing known and unknown assumptions, calculating costs and revenues, and performing sensitivity analyses like break-even and best-worst scenario analysis. Researching unknown "blue cell" data is important. Conducting a thorough costing analysis with appropriate methodologies and clearly separating known from unknown information can help social enterprises evaluate financial viability.
APS1015H Class 5 - Conducting a Costing Analysis for Social EnterpriseSocial Entrepreneurship
The first half of this class will be run workshop style using data from a real social enterprise and using Microsoft Excel to develop a basic costing analysis. The second half will focus on identifying key financial considerations unique to social enterprise.
1) The document discusses different types of firms including proprietorships, partnerships, corporations, and nonprofits.
2) It examines production functions and how they model the relationship between inputs used and the output produced. Common functional forms like Cobb-Douglas are presented.
3) The concepts of profit maximization, marginal analysis, and first-order conditions are introduced in the context of a firm's behavior.
Cgap bank business_case_branchless_banking_c2rounakdholakia
Transaction costs through agents are approximately 50% lower than branches and ATMs at low transaction volumes. There are three main reasons for banks to pursue agent banking: as an additional efficient channel, for growth into new geographies and customer segments, and to enable a low-margin payments-led business model. Evidence shows agents can reduce costs for banks by providing value to existing customers. As a growth channel, banks expect favorable economics entering new markets and serving the unbanked through agents. Agents facilitate rapidly deploying payments services with minimal margins.
4 the theory of the firm and the cost of productionMalinga Perera
The document discusses the theory of the firm and the cost of production. It defines the production function as the relationship between inputs and outputs. It classifies inputs as land, labor, and capital. It then discusses the mathematical representation of the production function and analyzes production in the short run and long run. It also discusses concepts like marginal product, diminishing marginal returns, total cost, average cost, marginal cost, revenue, and profit.
This document discusses cost concepts from an accounting and analytical perspective. It defines different types of costs such as fixed, variable, total, average, and marginal cost. It explains the relationship between these costs and how they change with varying levels of output in the short-run and long-run. The short-run cost curves are U-shaped while the long-run average cost curve is U-shaped, reflecting economies and diseconomies of scale. Other concepts covered include opportunity cost, sunk cost, learning curves, and economies of scope.
On successful completion of this module the student will be able to:
1. Evaluate the performance of a company using various financial analytical tools.
2. Analyze different patterns of cost behaviour and apply cost-volume-profit analysis to
business decisions..
3. Evaluate divisional performance using both financial and non-financial measures
The document outlines the results of a survey given to a target teenage audience about design choices for a new pop magazine. Key results include:
- The most popular title is "POPWORLD", and the color scheme is light blue, red and white.
- The magazine will feature about 5 images and cover lines on the front cover.
- The main focal image will be a medium shot of a female artist, who will also be featured in the double page interview spread.
- The language in the magazine will be a mix of informal and formal, and will cost between £3-£3.50.
This document provides an overview of financial accounting, cost accounting, and management accounting. It defines each area and discusses their roles and key differences. Financial accounting records and reports on financial transactions, but has limitations for decision making. Cost accounting provides detailed cost data for control and decision making purposes. Management accounting provides internal reports for managers to aid in planning, decision making, and control. The document also covers costing methods, techniques, installing a costing system, and some challenges.
Survey costing is a complex process which balances an organization’s financial objectives against the expenses associated with achieving or maintaining the scientific standards which govern validity and reliability, or quality, of the final product. Achieving optimum balance between budgetary and scientific goals requires that researchers first understand how survey components are related to costs and how changing each influences both data quality and budgetary outcomes.
Cost accounting is a quantitative method that accumulates, classifies, summarizes and interprets financial and non-financial information for three purposes: ascertaining product or service costs, operational planning and control, and decision making. It is defined as the part of management accounting that establishes budgets, standard costs, and actual costs of operations, processes, departments or products and analyzes variances. There are different types of costs such as historical, estimated, standard, average, marginal, replacement, opportunity, sunk, and controllable costs that are relevant to aiding specific management decisions. Cost accounting differs from financial accounting in its purpose, form of accounts, periodicity of reporting, analysis of profit, and reporting of costs.
This study aims to investigate the effects of modern management accounting techniques in reducing costs of tea factories in Nyamira County, Kenya. The study was guided by contingency theory which states that accounting practices must suit an organization's specific conditions. The objectives are to examine the effects of Just-in-Time, Activity Based Costing, and Kaizen Costing on cost reduction. The study employs a descriptive survey research design involving 18 respondents from 6 tea factories. Data will be collected through questionnaires and analyzed using SPSS. The findings will contribute to knowledge on applying management accounting techniques to reduce production costs in processing firms.
The document discusses various types of accounting including cost accounting, financial accounting, and management accounting. It provides details on cost accounting, including that it involves computing the cost of production/service scientifically and applying methods to ascertain and control costs. The document also covers cost classification, costing techniques, activity based costing, and joint/by-products.
- Cost accounting evolved from financial accounting to meet the needs of industry for more accurate product costing and managerial decision making. It grew with industrialization in the late 19th century and further developed due to wars and increased competition.
- In India, the profession was established with the Cost and Works Accountants Act of 1959 which set up the Institute of Cost Accountants of India. Cost audit further strengthened the profession.
- Cost accounting involves classifying, recording and allocating costs to determine accurate product costs and provide management information. Costing is the process and techniques of ascertaining costs, while cost accountancy applies costing principles for cost control and profitability analysis to aid management decisions.
The document discusses various classifications and procedures related to costing. It defines key costing terms like variable costs, fixed costs, direct costs, indirect costs, product costs, period costs, relevant costs, and more. Costs are classified based on their behavior, traceability, purpose, and controllability. The elements of cost - material, labor, and expenses - are also categorized as direct or indirect. Procedures for determining costs include identifying cost elements, classifying costs, and allocating common/indirect costs to arrive at the total cost of cost objects.
This document discusses the evolution and importance of cost accounting. It outlines the historical development of cost accounting from its origins in bookkeeping through modern developments. Key points include Charles Babbage emphasizing the need for cost accounting in 1830, the establishment of modern factory cost accounting before WWI, and the extension of cost accounting techniques to distribution in the 1930s. The document also covers different costing methods like job costing, process costing, and departmental costing. It discusses how cost accounting helps management with pricing decisions, estimates, cost control, productivity analysis, and inventory management. Overall, the document provides an overview of the history and applications of cost accounting.
This document discusses various cost concepts including cost methods, cost techniques, costing systems, cost classification, and elements of cost. It defines different types of costs such as fixed costs, variable costs, semi-variable costs, normal costs, abnormal costs, controllable costs, uncontrollable costs, relevant costs, and irrelevant costs. It also discusses inventoriable costs versus period costs.
This document provides an introduction to cost accounting, including its purpose and key concepts. It discusses the limitations of financial accounting and how cost accounting addresses these. The main objectives of cost accounting are to ascertain costs, determine selling prices, set efficiency standards, value inventory, and provide information for decision making. Key cost accounting concepts covered include cost elements, cost classifications, cost sheets, costing methods, and the installation of cost accounting systems. The relationship between cost and financial accounting is also explained.
Different techniques of costing in strategic management accounting discussed.
Marginal costing,budgetary control, standard costing,Activity based costing,responsibility costing.
Cost accounting is a formal system to ascertain and control costs of products and services. It involves determining actual costs incurred through cost ascertainment and estimating future costs. The objectives of cost accounting are cost ascertainment, control, guiding business decisions, and determining selling prices. Cost accounting provides both historical and estimated cost information for management control and decision making.
This document provides an overview of Shore to Shore (BD) Ltd, including their production capacities and facilities. The key points are:
- Shore to Shore has three production facilities in Bangladesh and provides brand packaging solutions.
- Their production technologies include offset printing, flexography, screen printing, and weaving techniques like broadloom and needle loom.
- The company has a high daily production capacity across various product lines like woven labels, printed ribbons, tags, and heat transfer products.
- Shore to Shore aims to be a one-stop supplier of brand packaging products through superior quality, competitive pricing, short lead times, and good customer service.
The document discusses the limitations of financial accounting that led to the development of cost accounting. It then provides definitions and explanations of key cost accounting concepts and terms including cost, cost centers, cost units, cost classification, costing methods, and elements of cost. Standard costing, budgetary control, and other costing techniques are also introduced. The overall summary is that the document serves as an introduction to cost accounting concepts, terminology, and methodologies.
The document discusses several costing techniques including throughput accounting, theory of constraints (TOC), target costing, and backflush costing. Throughput accounting focuses on increasing throughput and reducing inventory and expenses. TOC identifies bottlenecks limiting throughput and ways to remove them. Target costing determines the maximum allowable cost for a new product based on the anticipated selling price and desired profit. Backflush costing calculates product costs retrospectively at the end of the accounting period without tracking costs throughout production.
This document discusses different methods of classifying costs, including by element, behavior, function, normality, control, and for decision making. It identifies the main elements of costs as materials, labor, and expenses. Behavior is classified as fixed, variable, or semi-variable. Functions include production, administration, selling, and distribution. Normality separates normal from abnormal costs. Control distinguishes between controllable and uncontrollable costs. Decision making classifications include marginal vs absorption costing, sunk vs committed vs opportunity costs, and avoidable vs unavoidable costs.
This document discusses various methods, techniques, and systems of costing. It describes job costing, contract costing, batch costing, process costing, operation costing, and others. It also covers techniques like marginal costing, direct costing, and absorption costing. For systems of costing, it explains historical costing using post-costing and continuous costing, as well as standard costing.
ENTR4800 Class 5 (Part 1): Conducting a Costing Analysis for Social EnterpriseSocial Entrepreneurship
Theory: How do you monetize your business potential?
Practice: How do you conduct a costing analysis for social enterprises?
http://www.socialentrepreneurship.ca/entr4800/
This document defines and provides examples of various types of costs that are important in cost accounting. It discusses cost, costing, cost accounting, and cost accountancy. It then classifies costs into different categories based on their nature, elements, behavior, controllability, function, and normality. Finally, it defines and gives examples of opportunity cost, sunk cost, production cost, period cost, relevant cost, and irrelevant cost.
The document outlines the results of a survey given to a target teenage audience about design choices for a new pop magazine. Key results include:
- The most popular title is "POPWORLD", and the color scheme is light blue, red and white.
- The magazine will feature about 5 images and cover lines on the front cover.
- The main focal image will be a medium shot of a female artist, who will also be featured in the double page interview spread.
- The language in the magazine will be a mix of informal and formal, and will cost between £3-£3.50.
This document provides an overview of financial accounting, cost accounting, and management accounting. It defines each area and discusses their roles and key differences. Financial accounting records and reports on financial transactions, but has limitations for decision making. Cost accounting provides detailed cost data for control and decision making purposes. Management accounting provides internal reports for managers to aid in planning, decision making, and control. The document also covers costing methods, techniques, installing a costing system, and some challenges.
Survey costing is a complex process which balances an organization’s financial objectives against the expenses associated with achieving or maintaining the scientific standards which govern validity and reliability, or quality, of the final product. Achieving optimum balance between budgetary and scientific goals requires that researchers first understand how survey components are related to costs and how changing each influences both data quality and budgetary outcomes.
Cost accounting is a quantitative method that accumulates, classifies, summarizes and interprets financial and non-financial information for three purposes: ascertaining product or service costs, operational planning and control, and decision making. It is defined as the part of management accounting that establishes budgets, standard costs, and actual costs of operations, processes, departments or products and analyzes variances. There are different types of costs such as historical, estimated, standard, average, marginal, replacement, opportunity, sunk, and controllable costs that are relevant to aiding specific management decisions. Cost accounting differs from financial accounting in its purpose, form of accounts, periodicity of reporting, analysis of profit, and reporting of costs.
This study aims to investigate the effects of modern management accounting techniques in reducing costs of tea factories in Nyamira County, Kenya. The study was guided by contingency theory which states that accounting practices must suit an organization's specific conditions. The objectives are to examine the effects of Just-in-Time, Activity Based Costing, and Kaizen Costing on cost reduction. The study employs a descriptive survey research design involving 18 respondents from 6 tea factories. Data will be collected through questionnaires and analyzed using SPSS. The findings will contribute to knowledge on applying management accounting techniques to reduce production costs in processing firms.
The document discusses various types of accounting including cost accounting, financial accounting, and management accounting. It provides details on cost accounting, including that it involves computing the cost of production/service scientifically and applying methods to ascertain and control costs. The document also covers cost classification, costing techniques, activity based costing, and joint/by-products.
- Cost accounting evolved from financial accounting to meet the needs of industry for more accurate product costing and managerial decision making. It grew with industrialization in the late 19th century and further developed due to wars and increased competition.
- In India, the profession was established with the Cost and Works Accountants Act of 1959 which set up the Institute of Cost Accountants of India. Cost audit further strengthened the profession.
- Cost accounting involves classifying, recording and allocating costs to determine accurate product costs and provide management information. Costing is the process and techniques of ascertaining costs, while cost accountancy applies costing principles for cost control and profitability analysis to aid management decisions.
The document discusses various classifications and procedures related to costing. It defines key costing terms like variable costs, fixed costs, direct costs, indirect costs, product costs, period costs, relevant costs, and more. Costs are classified based on their behavior, traceability, purpose, and controllability. The elements of cost - material, labor, and expenses - are also categorized as direct or indirect. Procedures for determining costs include identifying cost elements, classifying costs, and allocating common/indirect costs to arrive at the total cost of cost objects.
This document discusses the evolution and importance of cost accounting. It outlines the historical development of cost accounting from its origins in bookkeeping through modern developments. Key points include Charles Babbage emphasizing the need for cost accounting in 1830, the establishment of modern factory cost accounting before WWI, and the extension of cost accounting techniques to distribution in the 1930s. The document also covers different costing methods like job costing, process costing, and departmental costing. It discusses how cost accounting helps management with pricing decisions, estimates, cost control, productivity analysis, and inventory management. Overall, the document provides an overview of the history and applications of cost accounting.
This document discusses various cost concepts including cost methods, cost techniques, costing systems, cost classification, and elements of cost. It defines different types of costs such as fixed costs, variable costs, semi-variable costs, normal costs, abnormal costs, controllable costs, uncontrollable costs, relevant costs, and irrelevant costs. It also discusses inventoriable costs versus period costs.
This document provides an introduction to cost accounting, including its purpose and key concepts. It discusses the limitations of financial accounting and how cost accounting addresses these. The main objectives of cost accounting are to ascertain costs, determine selling prices, set efficiency standards, value inventory, and provide information for decision making. Key cost accounting concepts covered include cost elements, cost classifications, cost sheets, costing methods, and the installation of cost accounting systems. The relationship between cost and financial accounting is also explained.
Different techniques of costing in strategic management accounting discussed.
Marginal costing,budgetary control, standard costing,Activity based costing,responsibility costing.
Cost accounting is a formal system to ascertain and control costs of products and services. It involves determining actual costs incurred through cost ascertainment and estimating future costs. The objectives of cost accounting are cost ascertainment, control, guiding business decisions, and determining selling prices. Cost accounting provides both historical and estimated cost information for management control and decision making.
This document provides an overview of Shore to Shore (BD) Ltd, including their production capacities and facilities. The key points are:
- Shore to Shore has three production facilities in Bangladesh and provides brand packaging solutions.
- Their production technologies include offset printing, flexography, screen printing, and weaving techniques like broadloom and needle loom.
- The company has a high daily production capacity across various product lines like woven labels, printed ribbons, tags, and heat transfer products.
- Shore to Shore aims to be a one-stop supplier of brand packaging products through superior quality, competitive pricing, short lead times, and good customer service.
The document discusses the limitations of financial accounting that led to the development of cost accounting. It then provides definitions and explanations of key cost accounting concepts and terms including cost, cost centers, cost units, cost classification, costing methods, and elements of cost. Standard costing, budgetary control, and other costing techniques are also introduced. The overall summary is that the document serves as an introduction to cost accounting concepts, terminology, and methodologies.
The document discusses several costing techniques including throughput accounting, theory of constraints (TOC), target costing, and backflush costing. Throughput accounting focuses on increasing throughput and reducing inventory and expenses. TOC identifies bottlenecks limiting throughput and ways to remove them. Target costing determines the maximum allowable cost for a new product based on the anticipated selling price and desired profit. Backflush costing calculates product costs retrospectively at the end of the accounting period without tracking costs throughout production.
This document discusses different methods of classifying costs, including by element, behavior, function, normality, control, and for decision making. It identifies the main elements of costs as materials, labor, and expenses. Behavior is classified as fixed, variable, or semi-variable. Functions include production, administration, selling, and distribution. Normality separates normal from abnormal costs. Control distinguishes between controllable and uncontrollable costs. Decision making classifications include marginal vs absorption costing, sunk vs committed vs opportunity costs, and avoidable vs unavoidable costs.
This document discusses various methods, techniques, and systems of costing. It describes job costing, contract costing, batch costing, process costing, operation costing, and others. It also covers techniques like marginal costing, direct costing, and absorption costing. For systems of costing, it explains historical costing using post-costing and continuous costing, as well as standard costing.
ENTR4800 Class 5 (Part 1): Conducting a Costing Analysis for Social EnterpriseSocial Entrepreneurship
Theory: How do you monetize your business potential?
Practice: How do you conduct a costing analysis for social enterprises?
http://www.socialentrepreneurship.ca/entr4800/
This document defines and provides examples of various types of costs that are important in cost accounting. It discusses cost, costing, cost accounting, and cost accountancy. It then classifies costs into different categories based on their nature, elements, behavior, controllability, function, and normality. Finally, it defines and gives examples of opportunity cost, sunk cost, production cost, period cost, relevant cost, and irrelevant cost.
This document provides an overview of engineering economics and its application in process engineering. It discusses key concepts like the time value of money, methods for quantifying project profitability like net present value, payback period, return on investment, and internal rate of return. It also covers typical accounting tools used like income statements and cash flow statements. The document explains how to estimate capital costs using methods like the turnover ratio and Lang's factor as well as operating costs considering factors like labor, materials, and utilities. It emphasizes the need to balance accuracy and cost when developing cost estimates.
Behind the Curtain of IT Cost Transparency - By: Carl Stumpf Managing Directo...Melissa Luongo
Key Discussion Points:
Best practices in IT cost allocation
Insights into how to use cost allocation to engage business partners
Implications of Agile, Cloud and other industry trends
The Goal:
Insights that can help influence how IT engages with business partners to influence business decisions
The document discusses various cost concepts and classifications that are important for business decision making, including classifying costs as fixed, variable, or mixed based on their behavior in relation to changes in business activity levels. It also covers calculating cost-volume relationships, break-even analysis, and differential costs to evaluate alternatives and their trade-offs. Opportunity costs and marginal analysis are introduced as tools to assess the potential benefits forgone by choosing one option over another.
The document discusses various approaches, methods, and procedures used in business valuation. It describes the hierarchy of valuation approaches (income, market, asset-based), methods that fall under each approach (e.g. DCF method under income approach), and specific calculations and procedures involved in methods. Key valuation methods like DCF, relative valuation using multiples, adjusted net asset value method, and excess earnings method are explained in detail with steps and considerations.
Introduction to cost accounting - MBA 1semgindu3009
This document outlines the course contents and schedule for a Cost Accounting course. The course covers topics like introduction to cost accounting, job costing, activity based costing, process costing, and cost allocation. It is divided into 14 weeks and covers these topics through lectures, assignments, quizzes and model papers. Detailed information about the contents covered in each unit and evaluation methods are provided.
Cost Accounting meaning and objective...kunusaini5556
Meaning, scope, objectives and advantages of cost accounting; Difference between financial and cost accounting. Cost concepts and classifications, Overview of elements of cost and preparation of Cost Sheet for manufacturing sector. Role of a cost accountant in an organisation.
1. When business in the City of London slows down, the demand for MBA courses tends to increase as the opportunity cost of doing an MBA is reduced with falling city bonuses.
2. According to a professor at Oxford, when financial markets decline and city bonuses fall, it becomes less costly to undertake an MBA program.
3. The slowdown in business in the City of London in 2008 led to a rise in recruitment for MBA courses as the costs of doing so compared to potential bonuses were lower.
Cost means the amount of expenditure (actual or notional) incurred on, or attributable to, a given thing.
The Institute of Cost and Management Accountant, England (ICMA) has defined Cost Accounting as – “the process of accounting for the costs from the point at which expenditure incurred, to the establishment of its ultimate relationship with cost centers and cost units.
In its widest sense, it embraces the preparation of statistical data, the application of cost control methods and the ascertainment of the profitability of activities carried out or planned”.
Cloud economics can help businesses lower their costs by moving to the cloud. AWS helps lower total cost of ownership (TCO) through several mechanisms: removing overprovisioning and paying for only what is used; 59 price reductions due to economies of scale; and pricing models like On-Demand, Reserved, and Spot Instances. Businesses typically see savings from eliminating hardware refreshes, reducing data center facilities costs, and optimizing storage and server utilization compared to on-premises environments. Case studies show customers experience TCO savings of 30-52% as well as benefits across categories like workforce productivity, cost avoidance, operational resilience, and business agility. Commercial levers like right-sizing instances, improved elasticity,
This document provides an overview of a SaaS application developed using lean software development principles. It discusses why the application was created as a demo product, describes the generic supply chain application and major entities, and covers considerations for SaaS including pricing models, costing, tenant separation, technical support, signups/payments, customer service, and security.
Three Dog Bakery is a bakery that produces dog treats and other pet food products. It has grown from a single store to over 40 locations worldwide. The company has a large manufacturing facility that produces 70% of goods sold. It also has a wholesale business and sells online. Annual revenues exceed $20 million.
This document provides an overview of various cost concepts used in business analysis. It discusses the differences between fixed and variable costs, opportunity costs and outlay costs, short-term and long-term costs, explicit and implicit costs, past and future costs, economic and accounting costs, incremental and sunk costs, avoidable and unavoidable costs, replacement and historical costs, shutdown costs and abandonment costs, and traceable and common costs. The key purpose is to explain these cost classification systems that are important for business decision making.
Standard costs are estimates used to develop flexible budgets and compare actual costs to planned costs. There are two main types of standards - quantity standards that specify how much input should be used, and price standards that specify costs of inputs. Standard costs are used to control costs by establishing benchmarks, analyzing variances between actual and standard costs, and taking corrective actions when variances are detected. Variance analysis breaks down cost variances into categories like material, labor, and overhead to understand why costs differed from plans.
The document provides an overview of cost accounting concepts including the nature, scope, objectives, and elements of cost accounting. It defines key terms like cost, expense, loss and discusses the classification of costs based on identifiability, activity, control, time, and normality. It also covers cost accounting concepts, methods of costing including job, batch and process costing, and the advantages and limitations of cost accounting.
This document discusses various pricing strategies and concepts, including cost-plus pricing, value pricing, and economic value to the customer (EVC). Cost-plus pricing involves determining costs and adding a markup percentage, but it does not consider customer perceived value. Value pricing is based on the product's value to the customer. EVC analysis aims to objectively quantify the value customers receive from product attributes compared to alternatives. The document provides examples and guidelines for applying these pricing strategies, especially using market testing and research to inform price setting.
This document provides an overview of cost accounting concepts including:
- The differences between cost accounting and standard accounting, with cost accounting providing more detailed product and department-level cost information.
- The two main approaches to cost accounting: job costing and process costing.
- Key cost accounting definitions including direct costs, overhead costs, variances, and flexible budgets.
- How to analyze costs and volume relationships to understand profitability impacts.
- Methods for implementing cost accounting systems and overcoming resistance to change.
The document discusses different types of costs that are relevant for business decision making including accounting costs, economic costs, explicit costs, implicit costs, opportunity costs, fixed costs, variable costs, average fixed costs, average variable costs, and total costs. It provides definitions and examples of each type of cost to explain the key differences between them.
This document provides an overview of cost and management accounting. It defines cost accounting as a system for recording costs and producing cost information for products. It also discusses why organizations need costing systems to provide actual unit costs, actual department costs, and forecast costs for planning, decision making, and cost control. The document then covers key terms in cost accounting such as cost, cost units, cost centers, cost objects, and classifications of costs by nature, function, behavior, and changes in activity or volume.
Similar to APS 1015H Class 5 - Financial and Costing Analysis for Social Enterprise (20)
This document provides information about the final presentations for the APS 1015: Social Entrepreneurship class taking place on Thursday, May 22, 2014. It lists the instructors, Norm Tasevski and Alex Kjorven, and titles for two of the presentations: "The Business Case – Clean Care" and "The Business Case – Public Inc.".
This class consolidates the learning students received throughout the course. Students will build a business case for the ventures they’ve assessed using the techniques described in the course (storyboarding, business modeling, etc.), focusing on making a compelling and informed argument for why the social entrepreneur you’ve been working with should pursue the course of action you’ve determined in your analysis.
This document summarizes a class on considerations for social enterprises. It includes the agenda, which covers marketing, operational considerations, and legal considerations for social enterprises. The document provides guidelines for student presentations on business cases, including the required components and time allotment. It also gives examples of pitching a social enterprise business model. Finally, it discusses considerations for marketing, human resources, operations, and different legal forms for social enterprises.
Students will be exposed to methods for screening entrepreneurial ideas and evaluating its “business potential”. Students will be introduced to data collection methodologies and evaluate some of the challenges associated with synthesizing market data and applying this data to business decisions.
This class will focus on the remaining 2 elements of the system intervention process: financial modeling and target setting. Students will be led through the process of understanding how to determine a viable business margin for their venture, and how to set reasonable yet motivating business targets that guide business model execution.
This class will focus on understanding how to design solutions to a gap in a social system and looks at the first two steps in the system intervention process. Students will be led through an interactive Empathy Mapping exercise followed by an introduction to Business Modeling and the components of a business model canvas.
This lecture will be structured workshop-style, in collaboration with Clean Care and Public Inc. Students will be introduced to these two real-life social enterprises and have the opportunity to better understand the social problems these organizations are trying to solve and the challenges they are facing in doing so. This workshop is the first step in analyzing the two beneficiary organizations as part of developing proposed solutions, which make up the final assignment.
This lecture focuses the dynamics within systems, how to identify and analyze gaps as well as evaluate how change takes place within more complex systems. Students will be introduced to the process of systems mapping and will participate in a class exercise to create and analyze a systems map for a specific social system. Students may apply the lessons from this lecture to the preparation of their major assignment, which will be introduced in this class (due Class 9).
This document outlines the agenda and content for the first class of an introduction to social entrepreneurship course. The class will include introductions, a review of the syllabus and class structure, establishing ground rules, and defining key concepts related to social entrepreneurship. Specifically, it will explore how social entrepreneurship differs from traditional entrepreneurship in terms of motivations, innovation approaches, resourcefulness, and risk-taking. The class will also provide an example of a social enterprise and introduce the idea of analyzing social systems.
Students will learn about some of the key management challenges involved in running a social enterprise. Concepts to be covered include goal-setting and target-setting, identifying and measuring key metrics (both financial and social) and leading and inspiring a team. This class will also feature a “live case” with a guest social entrepreneur.
This class focuses on understanding some of the emerging issues and opportunities currently facing the field of social entrepreneurship. The lecture will also provide students with a sense of the career opportunities available to them. This lecture will feature a guest speaker.
Social entrepreneurship generally aims to deliver solutions that can amplify social impact, across individuals, communities, and regions. Scaling social innovation is not always straightforward, and includes a different set of considerations than starting a social enterprise.
This class will cover some of the key considerations social entrepreneurs face when launching and growing their social enterprise. Emphasis will be placed on operational, human, legal and marketing considerations. Students will also develop a basic financial analysis for their enterprise to determine the financial feasibility of their venture.
Students will be exposed to methods for evaluating the “business potential” of their entrepreneurial idea, and evaluate some of the challenges associated with synthesizing market data and applying this data to business decisions. This class will also feature a “live case” with a guest social entrepreneur.
This class will focus on understanding how to design solutions to a gap in a social system. Students will understand the differences between market-based and non-market based solutions and the limitations of each, and will learn how best to design an intervention for each type of solution using Human-Centered Design tools.
This lectures focuses on analyzing the gaps that exist within larger systems (e.g. society-wide) and the role each sector in our society (public, private and nonprofit) plays to either reinforce or remove those gaps.
This lecture will be structured workshop-style. Students will work with Engineers without Border to understand the process of systems mapping. Students will then create and analyze a systems map for a specific social system, which will then be used as the basis for the major group assignment.
This document summarizes the first class of a social entrepreneurship course. It introduces the instructors and outlines the agenda, which includes introductions, reviewing the syllabus and class structure, defining social entrepreneurship, discussing what motivates social entrepreneurs, and an introduction to social systems. The class will also discuss what was learned and preview the next week's topic. Key topics covered are defining social entrepreneurship, distinguishing it from traditional entrepreneurship and different sectors, and how disruption can create social change by changing business models and systems.
This class focuses on understanding some of the emerging issues and opportunities currently facing the field of social entrepreneurship. The lecture will also provide students with a sense of the career opportunities available to them.
Social entrepreneurship generally aims to deliver solutions that can amplify social impact, across individuals, communities, and regions. Scaling social innovation is not always straightforward, and includes a different set of considerations than starting a social enterprise.
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“After being the most listed dog breed in the United States for 31
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APS 1015H Class 5 - Financial and Costing Analysis for Social Enterprise
1. APS 1015H: Social Entrepreneurship
Class 5: Conducting a Costing Analysis for
Social Enterprise
Wednesday October 19, 2011
Instructors:
Norm Tasevski (norm@socialentrepreneurship.ca)
Karim Harji (karim@socialentrepreneurship.ca)
1