This Power point presentation contents all about management accounting,
- Meaning of Management Accounting
-Scope of Management Accounting,
-Objectives of Management Accounting,
-Tools & Techniques for Management Accounting,
-Advantages of Management Accounting,
-Limitations of Management Accounting,
-Difference Between Management Accounting,Cost Accounting & Financial Accounting.
Management Accounting - Meaning, Definition, Characteristics, Scope, Objectiv...RajaKrishnan M
Meaning Definition Characteristics Scope Objectives and Function Financial accounting and Management accounting - Management accounting and Cost accounting - Cost accounting and Management accounting and Financial accounting - Tools and Technics- Advantages and limitations
This ppt covers the following points :-
1. introduction of management accounting
2. Definition of management accounting
3. Nature, objective, tools and techniques, significance and limitations of management accounting
4. difference between financial and management accounting and also includes difference between cost and management accounting
5. management accountant and its roles
6. Management accounting organisation
Definition and objectives of Management Accounting - Relationship between Cost, Financial and Managerial Accounting. Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information in order to plan the formulation of policies to plan and control the operations of the controlling of business operations, Characteristics of Management Accounting
or
Nature of Management Accounting
or
Features of Management Accounting
Objectives/ Role/ Purpose of Management Accounting. The scope of Management Accounting is wide. All the functions related to finance are included in management accounting. It covers not only the use of financial data and a part of costing theory but may be extended beyond the boundaries of accounting and costing. Functions of Management Accounting
This Power point presentation contents all about management accounting,
- Meaning of Management Accounting
-Scope of Management Accounting,
-Objectives of Management Accounting,
-Tools & Techniques for Management Accounting,
-Advantages of Management Accounting,
-Limitations of Management Accounting,
-Difference Between Management Accounting,Cost Accounting & Financial Accounting.
Management Accounting - Meaning, Definition, Characteristics, Scope, Objectiv...RajaKrishnan M
Meaning Definition Characteristics Scope Objectives and Function Financial accounting and Management accounting - Management accounting and Cost accounting - Cost accounting and Management accounting and Financial accounting - Tools and Technics- Advantages and limitations
This ppt covers the following points :-
1. introduction of management accounting
2. Definition of management accounting
3. Nature, objective, tools and techniques, significance and limitations of management accounting
4. difference between financial and management accounting and also includes difference between cost and management accounting
5. management accountant and its roles
6. Management accounting organisation
Definition and objectives of Management Accounting - Relationship between Cost, Financial and Managerial Accounting. Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information in order to plan the formulation of policies to plan and control the operations of the controlling of business operations, Characteristics of Management Accounting
or
Nature of Management Accounting
or
Features of Management Accounting
Objectives/ Role/ Purpose of Management Accounting. The scope of Management Accounting is wide. All the functions related to finance are included in management accounting. It covers not only the use of financial data and a part of costing theory but may be extended beyond the boundaries of accounting and costing. Functions of Management Accounting
Presentation on Budget, budgeting and budgetary control..
Contents-
1) Budgeting [characteristics]
2) Budgetary control
3) Difference in budget, budgeting, budgetary control
4) Essentials in budgetary control
5) Requisites for budgetary control system
6) Merits & limitations
7) Zero-based budgeting
8) Difference in Traditional & Zero based budgeting.
Presentation on Budget, budgeting and budgetary control..
Contents-
1) Budgeting [characteristics]
2) Budgetary control
3) Difference in budget, budgeting, budgetary control
4) Essentials in budgetary control
5) Requisites for budgetary control system
6) Merits & limitations
7) Zero-based budgeting
8) Difference in Traditional & Zero based budgeting.
Budget control and budget making techniques in a hospitalmeghadevgan3
budget control and budget making techniques in a hospital:
1.definition of budget
2.DIFFERENCE BETWEEN BUDGET, BUDGETING AND BUDGET CONTROL
3.THREE THINGS BUDGET NEEDS TO DO
4.PRINCIPLES OF GOOD BUDGETARY CONTROL
5.TYPES OF BUDGETS
6.BUDGET CONTROL
7.BUDGET COMMITTEE
8.STEPS IN THE BUDGETORY PROCESS
9.ROLE OF ADMINISTRATOR IN BUDGETING
10.BUDGETING TECHNIQUES
11.WHY BUDGETING IN HEALTH IS COMPLICATED?
Its about the financial and profit planning.A firm should be managed effectively and efficiently. This implies that the firm should be able to achieve its objectives by minimising the use of resources. Thus managing implies coordination and control of the efforts of the firm for achieving the organisational objectives.
The concept generation process begins with a set of customer needs and target specifications and results in a set of product concepts from which the team will make a final selection.
Global firms plan, operate and coordinate their activities on a worldwide basis.The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way.,
The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way.,
It operates in more than one country and captures R & D, production, logistical, marketing, and financial advantages not available to purely domestic competitors.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2. BUDGET
Budget is an estimate prepared for definite future period either in terms
of financial or non financial terms. Budget is prepared for any course of
action or business or state or Nation, as a whole. The budget is usually
expressed in terms of total volume.
According to ICMA, England, a budget is as follows "a financial and or
quantitative statements prepared and approved prior to a defined period
of time, of the policy to be pursed during the period for the purpose of
attaining a given objective
3. FORECAST VS BUDGETS
Forecasts are concerned with
expected events
Forecasting is done for a long
duration
Results of forecasting is plaing
Forecasting does not act as a tool
of measurement
Budgets are concerned with
planed events
Budgets are for a shorter or
specific duration
Result of planning is budgeting
Budgets are the targets against
which actual are compared.
5. CLASSIFICATION ACCORDING TO TIME
1. Long-Term Budget:
Long-term budgets are prepared for a period exceeding one year. They are
only forward looking plans. They act as a guidelines for preparing short
term budgets.
2. Short-Term Budget:
A budget prepared for a period less than a year is called short-term budget.
Short term budgets are prepared for actual implementation and it has a
practical value.
3.Current Budget:
A budget prepared for a short time is called a current budget. It is meant for
actual implementation. Conditions prevailing at the present are the basis for
preparing these budgets.
6. CLASSIFICATION BASED ON FLEXIBILITY
1. Fixed Budget - According to CIMA, London – “A fixed budget is a
budget designed to remain unchanged irrespective of the level of
activity actually attained.”
Thus, a budget which is prepared on the basis of standard or fixed level
of activity is known as fixed budget.
2. Flexible Budget - According to CIMA, London- “A flexible budget is
a budget designed to change with the level of activity actually
attained.”
E.g. – Budget was prepared for 60% production capacity but in actual
50% or 70% production capacity was used.
7.
8. ON THE BASIS OF FUNCTIONS
Functional Budgets:
Functional budgets are the budgets prepared for various activities of a
firm.
Sales Budget:
The sales budget is a statement of planned sales in quantity and value
both. In sales budget, sale is forecasted during the budget period. The
sales manager is responsible for preparation of this budget.
Purchase Budget:
This budget is prepared for every purchase item to be purchased in each
department. The purchase manager is entrusted with the responsibility of
making this budget. This budget enables the purchase department to
make bulk purchases.
9. Production Budget:
The production budget is prepared for making a plan of production e.g.,
quantity of production, cost of production, type of products, plant capacity,
operating cycle, availability of inputs, make or buy policy etc., during the
budgeted period.
Cash Budget:
Cash Budget forecasts both the inflow and outflow of cash during the
Budget Period
Three important methods are available for preparing the Cash Budgets.
They are:
i. Receipts and Payments Method -
ii. Adjusted Profit and Loss Account Method, and
iii. Balance Sheet Method.
10. OVERHEAD BUDGET
i. Production Overhead Expenses Budget – It shows the amount of
production overhead expenses expected to be incurred to produce the
budget output.
ii. Administrative Overhead Expenses Budget – It shows the probable
expenses pertaining to top managerial and supervisory functions.
iii. Selling and Distribution Overhead Expenses Budget – It presents the
information in detail about the probable expenditure to be incurred to
promote the sale of goods and services, and for distribution.
11. iv. Research and Development Cost Budget – This Budget presents the
details about the limits within which the research and development
activities are to be carried out during the Budget Period.
v. Capital Expenditure Budget – It shows the details about the future
capital expenditure programme which the company intends to undertake
in future. Further, it presents information about the probable capital to
be employed on the projects during the Budget Period. This Budget is
normally prepared for a long period
12. Budgetary Control
Budgetary control contains two
different processes one is the
preparation of the budget and another
one is the control of the prepared budget.
According to ICMA, England, a budgetary control is " the establishment of
budgets relating to the responsibilities of executives to the requirements of a
policy and the continuous comparison of actual with budgeted results, either to
secure by individual action the objectives of that policy or to provide a basis
for its revision".
13. OBJECTIVES OF BUDGETARY CONTROL
Planning – ensures effective planning by setting up of budgets
Coordination- helpful in coordination of business activities
Efficiency and Economy- effective budgetary control results in cost
control & cost reduction
Increase in profitability – budgets helps to control cost in turn profit
increases
Anticipation of future capital expenditure
14. ADVANTAGES OF BUDGETARY CONTROL
Maximization of profits
– achieved through planning, coordination ad control of various
activities
Evaluation of Executive performance
– through actual performance is compared with standards and
deviation are reported
Economy in operations
– expenses are properly planned & utilized
Shutting down of unprofitable products ad activities
15. LIMITATIONS OF BUDGETARY CONTROL
Prediction of uncertain future
Difficulty in coordination among various
departments
Changes of conditions frequently may
frustrate the employees.
16. BUDGETARY CONTROL VS STANDARD COSTING
Time frame
Standards have no time frame. They caused over a long period
budgets are for specific time periods beyond which they have no
relevance. New budgets may be prepared thereafter
Interdependence
Standard costing is based on budgets during any specified period.
production, sales etc are take from budgeted figures to implement
standards
Budgetary control can be carried on without standards. It is not
dependent on standard costing
17. Basis for preparation
Standards are based on technical assessments.
Budgets are usually the past actual figures adjusted for future changes
Approach
Standards are more intensive and concentrate on each element of cost,
operation, etc
Budgets are extensive and are set for departments, functions, etc.
Scope
Standards are mainly for costs. Revenue is not the focus of standard
costing
Both income and expenditure form part of budgetary control.
18. Criterion
Standards are the goals or targets to be attained. Actual costs are expected to
conform to the standards. They must be aimed at and attained.
Budgets set the maximum limits for expenses which are not expected to be
exceeded.
Origin
Standard are purely ‘cost oriented’. Standard costing is a projection of cost
accounts expenditure.
Budgets are projections of financial accounts. Overall business efficiency
both in the areas of income and is the goal of budgetary control.
19. Nature of costs used
Standard costs are the norms or what cost should be under specified
circumstances.
Budgets are estimated costs. They are what the costs will be.
Uses for forecasting
Forecasting standard costs cannot be used for forecasting material required
etc..because they are like goals and or what the costs will be.
Budgeted figures can be used for because they are the expected costs and
revenues.