cost management accounting
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Liquidity ratios measure a company's ability to pay off short-term debts, including the current ratio, quick ratio, and absolute liquidity ratio. The current ratio compares current assets to current liabilities, while the quick ratio excludes inventory and accounts receivable from current assets. The absolute liquidity ratio calculates net worth by comparing absolute liquid assets to current liabilities. Profitability ratios assess earnings relative to sales, assets, and equity, such as gross profit margin, net profit margin, cash profit ratio, and return on total assets. Cost accounting uses predetermined costs to set prices scientifically, provides detailed cost information, and focuses on production transactions, whereas financial accounting records historical costs of all transactions.
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Responsibility Accounting
Responsibility accounting is a management accounting method where managers are given decision-making authority over a specific department or division and are held responsible for the activities and results within that area. It requires a clearly defined organizational structure divided into responsibility centers such as cost centers (where managers are responsible for incurred costs), revenue centers (responsible for generating revenue), profit centers (responsible for both costs and revenues), and investment centers (responsible for costs, revenues, and return on capital employed). The goals of responsibility accounting are to improve clarity of goals, assist with planning and budgeting, improve quality and cost control, allow for objective evaluation of managers, and decentralize decision-making.
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The document discusses the concept of profit management. It states that profit management dictates all functions and processes within an organization and impacts profitability. Profit management includes strategies to deliver value to customers and optimize performance. It discusses parts of profit management like profit formation and distribution management. The document also discusses profit planning and control, noting that planning covers a definite time span and establishes job responsibilities. It outlines steps in profit planning like establishing objectives, control systems, and appropriate plans and strategies. Key terms discussed include profit, total revenue, total cost, marginal cost and marginal revenue. The importance of profit maximization and achieving the highest profits is also mentioned.
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Responsibility accounting
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- Key features include identifying responsibility centers where authority is delegated, assigning controllable and uncontrollable costs and revenues to these centers, and preparing responsibility reports to provide feedback on variances from budgets.
- The goal is not to punish individuals but rather to motivate improved performance by providing information to managers on areas where they can influence outcomes.
RESPONSIBILITY ACCOUNTING WITH SPECIAL REFERENCE TO STANDARD COSTING AND BUDG...
RESPONSIBILITY ACCOUNTING WITH SPECIAL REFERENCE TO STANDARD COSTING AND BUDG...Biswajit Bhattacharjee
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1.1 identify the type of accounting
1.2 difference between Cost Accounting , Cost Accountancy and Costing
1.3 understand the Management information needs
1.4 identify the objectives of cost accounting
1.5 difference between Cost Accounting Vs. Financial Accounting
1.6 identify the role of cost accountant
Measurement of profit
The document discusses the measurement of profit according to accounting standards. It defines key terms like income, revenue, gains, expenses, losses, comprehensive income and equity. It explains the different approaches to measuring periodic profit and notes that the comprehensive income approach is adopted in AASB 101. Accounting standards for items like revenue, expenses and equity are also outlined.
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- Disclosing sources of wastage and preparing reports to control wastage.
- Providing data to guide price fixing and ascertain profitability of products.
- Exercising effective cost control of stocks and revealing sources of economy through cost control of labor, overheads, and materials.
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The document provides an overview of an income statement and balance sheet for a college course on financial accounting. It includes:
1) Definitions of an income statement as showing a company's revenues, expenses and profits over a period of time, while a balance sheet shows its assets, liabilities and equity at a point in time.
2) Details of line items that appear on an income statement, including revenue, expenses, and depreciation.
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This chapter provides an overview of the exercises, cases, and internet assignments in the textbook. It includes:
1) Descriptions of 15 exercises that cover topics such as users of accounting information, financial reporting, accounting principles, and accounting terminology.
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3) A description of an internet assignment directing students to access accounting information on the Rutgers University website.
The document concludes with sample answers to 40 discussion questions that correspond to the chapter material. The questions cover accounting concepts and help students develop communication skills.
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The document provides a lesson on using financial statements to measure business performance. It discusses key parts of the income statement like revenue, costs of sales, gross profit, operating profit and net profit. It also covers the importance of considering profit quality and whether profits can be sustained, as well as profit utilization and how profits are used in the business. The lesson includes examples, definitions, and exercises for students to practice analyzing income statements.
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This document provides information about an assignment for a management accounting course. It includes the semester, subject code, credits, marks, and 6 questions related to budgetary control, standard costing, variance analysis, ratio analysis, working capital requirements, and sources and uses of funds. Students are to answer all questions, with 10 mark questions being approximately 400 words each. The questions cover topics like advantages of budgetary control, meaning of standard costing, uses of variances, calculating ratios from financial statements, determinants of working capital, and preparing a statement of sources and uses of funds and schedule of changes in working capital.
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The document discusses the objectives of cost accounting. It lists the main objectives as ascertaining costs, fixing selling prices, proper recording and presentation of cost data to management. Some key specific objectives mentioned include:
- Ascertaining the cost per unit of different products and providing a correct analysis of costs by process, operations, and elements.
- Disclosing sources of wastage and preparing reports to control wastage.
- Providing data to guide price fixing and ascertain profitability of products.
- Exercising effective cost control of stocks and revealing sources of economy through cost control of labor, overheads, and materials.
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Basic concept
This document discusses key accounting concepts including the accounting equation, financial statements, and financial ratios. It explains that the accounting equation is assets = liabilities + owner's equity, and that the four basic financial statements are the income statement, statement of owner's equity, classified balance sheet, and statement of cash flows. It also introduces the concept of using financial ratios to analyze trends in a business's assets, revenues, expenses, and efficiency.
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This document defines and compares cost accounting, management accounting, and financial accounting. It also discusses the objectives, nature, and scope of cost accounting and how cost accounting aids management. Cost accounting is defined as classifying, recording, and allocating costs to determine cost and profitability. Management accounting provides accounting information to aid management decision making. Financial accounting deals with financial resources and obligations to external parties. The document outlines key differences between cost accounting, management accounting, and financial accounting.
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A Textbook of Cost Accounting (Calicut University)
A Textbook of Cost Accounting (Calicut University)
3.3 using financial data to measure and assess performance (part 1) - moodle
3.3 using financial data to measure and assess performance (part 1) - moodle
Similar to cost management accounting
Topic 2 tools techniques of managing of inventories
This document defines key terms related to inventory management, accounts receivable, accounts payable, and cash. It discusses the cash operating cycle and how it reflects a firm's investment in working capital. Key aspects of the operating cycle include raw materials, work in progress, finished goods, and receivables collection periods. Relevant accounting ratios for analyzing financial statements like the current ratio and quick ratio are also defined. Inventory management techniques are mentioned.
Module 20 - Understanding Financial & Liquidity Ratios.pptx
The document discusses various types of financial ratios used to analyze companies, including liquidity ratios and solvency ratios. It provides examples of key liquidity ratios like the current ratio, quick ratio, and cash ratio. The current ratio measures a company's ability to pay short-term debts with current assets. The quick ratio is similar but excludes inventory from current assets. The cash ratio measures a company's ability to pay debts with cash and cash equivalents. Solvency ratios measure long-term financial health and debt obligations, unlike liquidity ratios which focus on short-term obligations. Examples are provided to demonstrate how to calculate and interpret these important financial metrics.
Financial ratios
Financial ratios can help analyze a business's financial health by comparing numbers from financial statements. They measure aspects like liquidity, safety, profitability, and efficiency. Some common ratios include the current ratio and quick ratio for liquidity, the debt-to-equity ratio for safety, gross profit margin and net profit margin for profitability, and inventory turnover for efficiency. Comparing ratios to industry averages and tracking them over time provides insight into a business's strengths and weaknesses.
Prepare a witten financial analysis. .This should include calculation.pdf
Prepare a witten financial analysis. .This should include calculations and discussion related to
the Chapter 5 appendix (Appendix 5A). See illustration 5A-1 for a summary of financial ratios.
Be sure to include (1) these ratios, (2) what they mean and (3) how you interpret them: o Current
ratio o Accounts receivable turnover o Inventory turnover o Profit margin on sales o Return on
assets o Return on stockholders\' equity o Debt to assets ratio Submit a WORD document via
D2L- Assessments - Assignments
Solution
Ans ) The ratios are not meant for a particular person or firm.People in various fields of life are
interested in ratio analysis from their own angles.The parties attached with business or firm are
creditors i.e. mony lenders, shareholders.Management uses the toolof Ratio analysisto
interpretate the information from their own angles.For example creditors are interested in
liquidity and solvency for which they will make use of current ratio , liquidity ratio,
proprietaryRatio, debt equity Ratio,capital gearing Ratio.Shareholders are interested in
profitability and long term solvency.They want to know the rate of return on their capital
employed for which they willmake use of Gross Profit Ratio, Operating Ratio, Dividend ratio
and Price Earning Ratio.Management is interested in overall efficiency of business which can be
better jud ged through Ratios like turnover to fixed assets, turnover to capital employed, stock
turnover ratio etc.So, from the above discussion it is clear that different prties uses the tool of
Ratio analysis for taking their own decisions
The particular purpose of a user is determining the particular Ratios that might be used ofr
financial analysis.Here we will discuss and calculate various ratios to do fianacial analysis.
Current Ratio = Current Assests/Current Liabilities
Current Assests= Cash + Bank+ Prepaid Insurance+Inventory+ Accounts Recievables
Current Assests=44746.5 +510+500+5000+29000=79756.5
Current Laibilites =Accounts payable
Current Laibilites= 30064.83
Current Ratio = 79756.5/30064.83= 2.7
Interpretation : Generally a current ratio of 2 times or 2:1 is cosidered to be satisfactory.Here the
current ratio of greater than 2 denotes the good liquidity position but it also indicates assest
liabilty mis match.But current ratio greater than 2 is generally preferred as compared to less than
2.
2.Account receivables turnover :It represents the number of times the cash is collected from
debtors.Lower turnover denotes poor collection and means that funds are blocked ofr longer
period of tiem and vice-versa.It also measure the liquidity of the firm.It shows how quickly
debtors (receivables) are converted into sales.The Account receivables turnover shows the
relationship between sales and debtors of the firm.
Account receivables turnover= Net Credit Annual Sales/Average trade debtors
3. Inventory turnover :This ratio indicates the number of times inventory or stock is replaced
during the year.The turnover of invent.
RATIO ANALYSIS.pptx
Ratio analysis is a quantitative method of analyzing financial statements to assess a company's liquidity, turnover, solvency, and profitability. It involves calculating key financial ratios and comparing them over time and against industry benchmarks. Common ratios include current ratio, quick ratio, debt-to-equity ratio, profit margin, and return on assets. Ratio analysis provides valuable insights into a company's financial health and performance.
Ratio analysis - Liquidity Ratios
Liquidity Ratios
This type of ratio helps in measuring the ability of a company to take care of its short-term debt obligations. A higher liquidity ratio represents that the company is highly rich in cash.
The types of liquidity ratios are: –
Current Ratio or Working Capital Ratio
Quick Ratio or Liquidity Ratio or Acid Test Ratio
Absolute Liquid Ratio or Cash Ratio
Stock to Working Capital Ratio
Current Ratio: The current ratio is the ratio between the current assets and current liabilities of a company. The current ratio is used to indicate the liquidity of an organization in being able to meet its debt obligations in the upcoming twelve months. A higher current ratio will indicate that the organization is highly capable of repaying its short-term debt obligations.
Current Ratio = Current Assets / Current Liabilities
Current Assets:
Current Assets means cash and those assets which can be converted into cash within one year in ordinary course of business.
Current Liabilities:
Current Liabilities are those which are to be paid by the firm in one year.
Quick Ratio or Liquidity Ratio or Acid Test Ratio :
The quick ratio is used to ascertain information pertaining to the capability of a company in paying off its current liabilities on an immediate basis.
The formula used for the calculation of a quick ratio is-
Quick Ratio = (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities
. Absolute Liquid Ratio or Cash Ratio:
The cash ratio measures a company’s ability to pay off short-term liabilities with cash and cash equivalents:
Cash ratio = Cash and Cash equivalents / Current Liabilities
Stock to Working Capital Ratio:
It is calculated by dividing the value of stock (or inventories such as raw materials, work in progress, finished goods, stores and packing materials) by the Working capital.
Ratio Analysis.pptx
Financial ratio analysis is a technique used to analyze a company's financial statements and identify its strengths and weaknesses. Ratios can simplify financial statements and facilitate comparison between firms. There are four main categories of ratios: liquidity ratios measure short-term debt paying ability; leverage or solvency ratios measure long-term debt paying ability; activity ratios measure efficiency of asset usage; and profitability ratios measure operating results and return on investments. Common ratios calculated include the current ratio, debt-to-equity ratio, inventory turnover ratio, net profit margin, and price-earnings ratio. Ratio analysis provides useful information for decision makers to evaluate a company's financial performance and position.
Ratio analysis
This document discusses various financial ratios used to analyze a firm's financial statements. It covers liquidity ratios like current and quick ratios, activity ratios like inventory, debtors, and creditors turnover ratios, capital structure ratios like debt-equity ratio and interest coverage ratio, and profitability ratios like gross profit ratio, net profit ratio, operating ratio, return on investment, earnings per share, dividend yield, and price-earnings ratio. These ratios are calculated using figures from a company's balance sheet and income statement and help evaluate its operational efficiency and financial health.
Sip 2013 15 main report-kiran mankumbre 110914
This document provides an executive summary and introduction to analyzing the financial ratios of Dabur India Pvt Ltd. It discusses the objectives of the project, which are to develop a financial model of Dabur and learn about financial modeling and ratio analysis. It introduces the key types of ratios that will be analyzed, including liquidity, profitability, turnover, solvency, and overall profitability ratios. Specific ratios that will be calculated and analyzed include current ratio, quick ratio, gross profit ratio, operating ratio, net profit ratio, return on investment ratio, and return on capital employed ratio.
Ratios and Formulas in Customer Financial AnalysisFinancial stat.docx
Ratios and Formulas in Customer Financial Analysis
Financial statement analysis is a judgmental process. One of the primary objectives is identification of major changes in trends, and relationships and the investigation of the reasons underlying those changes. The judgment process can be improved by experience and the use of analytical tools. Probably the most widely used financial analysis technique is ratio analysis, the analysis of relationships between two or more line items on the financial statement. Financial ratios are usually expressed in percentage or times. Generally, financial ratios are calculated for the purpose of evaluating aspects of a company's operations and fall into the following categories:
· Liquidity ratios measure a firm's ability to meet its current obligations.
· Profitability ratios measure management's ability to control expenses and to earn a return on the resources committed to the business.
· Leverage ratios measure the degree of protection of suppliers of long-term funds and can also aid in judging a firm's ability to raise additional debt and its capacity to pay its liabilities on time.
· Efficiency, activity or turnover ratios provide information about management's ability to control expenses and to earn a return on the resources committed to the business.
A ratio can be computed from any pair of numbers. Given the large quantity of variables included in financial statements, a very long list of meaningful ratios can be derived. A standard list of ratios or standard computation of them does not exist. The following ratio presentation includes ratios that are most often used when evaluating the credit worthiness of a customer. Ratio analysis becomes a very personal or company driven procedure. Analysts are drawn to and use the ones they are comfortable with and understand.
1. Liquidity Ratios
Working Capital
Working capital compares current assets to current liabilities, and serves as the liquid reserve available to satisfy contingencies and uncertainties. A high working capital balance is mandated if the entity is unable to borrow on short notice. The ratio indicates the short-term solvency of a business and in determining if a firm can pay its current liabilities when due.
Formula
Current Assets - Current Liabilities
Acid Test or Quick Ratio
A measurement of the liquidity position of the business. The quick ratio compares the cash plus cash equivalents and accounts receivable to the current liabilities. The primary difference between the current ratio and the quick ratio is the quick ratio does not include inventory and prepaid expenses in the calculation. Consequently, a business's quick ratio will be lower than its current ratio. It is a stringent test of liquidity.
Formula
Cash + Marketable Securities + Accounts Receivable
Current Liabilities
Current Ratio
provides an indication of the liquidity of the business by comparing the amount of current assets to current liabilities. A business's curren ...
RATIO ANALYSIS BY KK MAHESH PUC STUDENTS
The presentation is an eye opener for the commerce students willing to be part of the thinking team of an organisation.
Ratio Analysis in financial statements (KK MAHESH PU COLLEGE)
There are many standard ratios used to evaluate the overall financial condition of an enterprise. These ratios maybe used by managers within a firm, by current and potential shareholders and by a firm's creditors. Financial analyst use financial ratios to compare the strengths and weaknesses in various companies.
22244718ratioanalysisppt 12638286824297-phpapp02
Ratio analysis is a method used to interpret financial statements and assess the strengths and weaknesses of a firm. Ratios measure the relationship between different financial metrics and can be used to compare performance over time, between firms, or against standards. Key types of ratios include liquidity, capital structure, profitability, and activity ratios which analyze different aspects of a firm's financial health and operations. Calculating ratios on its own does not provide value; analysis and comparison are required to draw meaningful conclusions.
Ratio Analysis Ppt
Ratio analysis involves calculating relationships between financial statement items to interpret a firm's financial condition and performance. Ratios can be classified into liquidity, capital structure, profitability, and activity ratios. Liquidity ratios measure short-term solvency, capital structure ratios measure long-term solvency, profitability ratios measure operating efficiency and returns, and activity ratios measure asset utilization and efficiency. Ratios are compared over time, against industry standards, or between firms to identify strengths, weaknesses, and trends.
Accounting terminology
This document provides definitions for key accounting terminology used in understanding accounting concepts and the accounting language of business. It defines common accounting terms like accounts payable, accounts receivable, accrual based accounting, assets, balance sheet, cash based accounting, chart of accounts, cost of goods sold, debits and credits, expenses, general ledger, liabilities, net profit/loss, and trial balance among others.
Ratios
Ratios and formulas are important analytical tools for evaluating a company's financial statements. Ratio analysis involves calculating relationships between financial data to assess aspects of a company's operations, such as liquidity, profitability, leverage, efficiency and creditworthiness. Common financial ratios are grouped into categories like liquidity ratios, which measure ability to meet current obligations, and profitability ratios, which evaluate expenses and returns. A standard list of ratios does not exist, as analysts choose those most relevant and understandable for the situation.
Ratio analysis
This document discusses various financial ratios used to analyze the financial performance and position of a company. It defines two categories of financial ratios - liquidity ratios and stability ratios. Liquidity ratios measure a company's ability to meet short-term obligations, and include current ratio, liquid ratio, absolute liquid ratio, and defensive interval ratio. Stability ratios indicate a company's long-term solvency and include fixed assets ratio, debt-equity ratio, proprietary ratio, and interest coverage ratio. The document also explains turnover ratios, profitability ratios, and how to calculate overall profitability.
Ratio Analysis
This document discusses various financial ratios used to analyze the financial performance and position of a company. It defines two categories of financial ratios - liquidity ratios and stability ratios. Liquidity ratios measure a company's ability to meet short-term obligations and include current ratio, liquid ratio, absolute liquid ratio, and defensive interval ratio. Stability ratios indicate a company's long-term solvency and include fixed assets ratio, debt-equity ratio, proprietary ratio, and interest coverage ratio. The document also explains turnover ratios, profitability ratios, and how to calculate overall profitability.
Analysis of Financial Statment Activity and Solvency ratios week 4.pptx
This document discusses various types of financial ratios used to evaluate companies. It describes liquidity ratios that measure a company's ability to meet short-term obligations, activity ratios that assess asset usage and efficiency, and solvency ratios that evaluate financial leverage and long-term debt obligations. Specific ratios covered include the current, quick, and cash ratios for liquidity; receivables turnover, inventory turnover, and total asset turnover for activity; and debt-to-equity, interest coverage, and cash coverage ratios for solvency. The document provides formulas for calculating each ratio and interpreting the results.
B.com. 1st year 2nd semester.Bm101- 2nd-1.pptx
This document discusses various types of financial ratios used in ratio analysis to evaluate different aspects of a company's financial health and performance. It describes liquidity ratios that measure a company's ability to meet short-term obligations, leverage/solvency ratios that indicate ability to meet long-term debt obligations, activity/turnover ratios that assess efficiency in using assets, and profitability ratios that evaluate how effectively a company generates profits relative to sales and expenses. Specific ratios covered include current ratio, quick ratio, debt-to-equity ratio, inventory turnover, gross profit margin, return on investment, and others. Ratio analysis is presented as an important tool for interpreting financial statements and assessing a company's financial condition and trends over time.
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Topic 2 tools techniques of managing of inventories
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Module 20 - Understanding Financial & Liquidity Ratios.pptx
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Prepare a witten financial analysis. .This should include calculation.pdf
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cost management accounting
- 2. Liquidity ratios are the ratios that measure the ability of a company to meet its short term debt obligations. These ratios measure the ability of a company to pay off its short-term liabilities when they fall due. The important ratios in measuring short term solvency are: 1. current ratio 2. quick ratio 3.absolute liquid ratio
- 3. The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts over the next 12 months. It compares a firm's current assets to its current liabilities. current ratio = Current asset _______________ Current liability
- 4. It is also known as Acid test ratio, or quick ratio, or liquid ratio. It measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. Quick assets include those current assets that presumably can be quickly converted to cash at close to their book values. QUICK RATIO = ( CURRENT ASSET- INVENTORY- ACCOUNTS RECEIVABLE) ____________________________________ _CURRENT LIABILITY
- 5. The absolute liquidity ratio is used to calculate what the company's net worth is. It is the ratio of absolute liquid assets to current liabilities. This ratio is used to determine the absolute liquid position of a firm or company.
- 6. It measure a company's ability to generate earnings relative to sales, assets and equity. These ratios assess the ability of a company to generate earnings, profits and cash flows relative to relative to some metric, often the amount of money invested. Major profitability ratio are: 1.Gross profit margin 2. Net profit margin 3.Cash profit ratio 4.Return on total asset 5. Return on shareholder's fund
- 7. The ratio measures the gross profit margin on the total net sales made by the company. Gross profit margin = cost of goods sold x 100 _____________________ Sales
- 8. This ratio is designed to focus attention on the net profit margin arising from the business operation before interest and tax is deducted. Net profit margin = net profit after tax x 100 _____________________ Sales
- 9. Cash profit ratio measures the cash generation in the business as a result of the operations expressed in the sales. Cash profit ratio = cash profit x 100 _________________ Sales
- 10. This ratio indicates the efficiency of utilisation of assets in generating revenue. Return on total asset = Net profit after tax x 100 _____________________ Total assets
- 11. Scope : It is suitable only for such business concerns which are engaged in manufacturing, production, mining or providing some service (e.g. bus company electric supply company etc.) It is suitable for all businesses - manufacturing, production or even in marketing only.
- 12. Pre-determined and historical accounting In cost accounting, the expenditure to be incurred is estimated and standard cost of product is found. Thus, it act as a pre-determined process. In Financial accounting, accounting is done after the expenditure has already been incurred and not prior to that. So it is historical accounting.
- 13. Transactions related with production activities only are accounted for in this method. Donations, dividend received, etc. are not taken into account as these are not related with production. All economic transactions are taken into account, whether these are related with production or not.
- 14. By cost accounting the price of the product can be fixed more accurately in a scientific manner. In the absence of information about cost, the selling price fixed by this method may be misleading.
- 15. Profit calculated by this method expresses the result of production activities. Profit calculated by this method expresses the profit of the organization.
- 16. Full and correct information about the cost, per unit cost, various elements of cost, etc. of the product is made available in cost accounting. Financial accounting does not give such detailed and correct information.