This unit focuses on analyzing cost information and using it for budgeting and forecasting purposes. Learners will analyze cost data, propose methods to reduce costs and enhance business value. They will also prepare forecasts and budgets using appropriate methods, and monitor performance against budgets by calculating and analyzing variances. The unit aims to provide understanding and skills in using cost information for management decision making.
A Principle Budget Factor is a factor or an activity which is constraint for business and which is limiting factor. Budgets on other factors are followed by the principle budget factor. Copy the link given below and paste it in new browser window to get more information on Principle Budget Factor:- www.transtutors.com/homework-help/accounting/principle-budget-factor.aspx
This contains :-
1.Budget
2. Definition of Budget
3. Purposes of budgeting
4.Characteristics of budgeting
5. Importance of budgeting
6.Principles of budget
7. Types of budget
8. Classification of budget
9.Advantages of budgeting
10.Disadvantages of 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?
www.onlineassignment.net is a 24*7 online portal dedicated to fulfilling students' need from across the globe. Be it assignment, project or thesis, we can provide you quality solution within the deadline set by you. All levels and from any course of study, you need not worry anymore.
Homework Help | Assignment Help | Project Help | Online Tutoring | Math Help | Programming Help | Engineering | Computer Science | AutoCad
www.onlineassignment.net
A Principle Budget Factor is a factor or an activity which is constraint for business and which is limiting factor. Budgets on other factors are followed by the principle budget factor. Copy the link given below and paste it in new browser window to get more information on Principle Budget Factor:- www.transtutors.com/homework-help/accounting/principle-budget-factor.aspx
This contains :-
1.Budget
2. Definition of Budget
3. Purposes of budgeting
4.Characteristics of budgeting
5. Importance of budgeting
6.Principles of budget
7. Types of budget
8. Classification of budget
9.Advantages of budgeting
10.Disadvantages of 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?
www.onlineassignment.net is a 24*7 online portal dedicated to fulfilling students' need from across the globe. Be it assignment, project or thesis, we can provide you quality solution within the deadline set by you. All levels and from any course of study, you need not worry anymore.
Homework Help | Assignment Help | Project Help | Online Tutoring | Math Help | Programming Help | Engineering | Computer Science | AutoCad
www.onlineassignment.net
HRM 498 Week 4 Learning Team Assignment Strategic HRM Plan, Part III Evaluati...parthiban3131
Learning Team Assignment: Strategic HRM Plan, Part III: Evaluation and Assessment Memo
This is due with the Final Report. Please submit this assignment as a checkpoint to ensure you complete required parts according to schedule.
Resource: Step Six: Evaluation and Assessment in Ch. 2 of Managing Human Resources
Determine what assessments and evaluative measures as directives for HR will measure your divisional effectiveness over the next five years.
Write a 200- to 350-word memo to upper management, summarizing your decisions.
General Statements are usually the topic sentence or the main idea of the paragraph while Specific Statements are the supporting information for the topic sentence or main idea.
Example:
General Statement: Birds are Insect Controllers.
Specific Statement:
A 3-ounce baby bird will eat 5 ½ ounces of insects.
Birds eat almost twice their own weight.
(for more info: visit Antonio Senado Ramelo The Secret Passage on Facebook.)
and click the link for a sample lesson plan of General and Specific Statement: https://www.slideshare.net/rameloantonio/general-and-specific-statement-daily-lesson-log
Evaluate Your Learning OutcomesWrite a critical evaluation o.docxturveycharlyn
Evaluate Your Learning Outcomes
Write a critical evaluation of your learning outcome. In your response, consider:
1. Your managerial accounting skills/knowledge prior to taking this class
2. Base on the course content, discuss the new skills you acquired from this class? How relevant are the new skills in your profession?
3. How would you apply your new knowledge?
Required:
1.
Post your original discussion. Read and respond to three (3) your classmates.
See the class syllabus for posting requirements.
2.
Be sure to support your work with specific citations using APA format
3.
Read a selection of your colleagues' postings using one or more of the following ways:
· Share an insight from having read your colleagues' postings, synthesizing the information to provide new perspectives.
· Offer and support an alternative perspective using readings from the class materials or from your own research.
· Validate an idea with your own experience and additional research.
· Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.
· Expand on your colleagues' postings by providing additional insights or contrasting perspectives based on readings and evidence.
· Return to this Discussion several times to read the responses to your initial posting. Note what you have learned and/or any insights you have gained as a result of the comments your colleagues made.
Course Description:
This course introduce students to a variety of topics related to financial and economics concepts and theories including general micro- and macroeconomics concepts, investments in different types of financial assets (stocks, bonds, options, etc.). CAPM, financing of projects, financial structure, agency theory and agency costs, corporate governance, diversification, mergers and acquisition, and asset collateralization.
Course Objectives & Learning Outcomes
Upon completion of the course, students should be able to:
1. Understand the role of cost accounting in information for managerial decision making
2. Understand fundamental concepts and techniques of cost/managerial accounting.
3. Understand the general concepts of cost estimation.
4. Understand costing and control of materials, labor, and factory overhead. Syllabus Course # Page 2 of 14
5. Learn objectives of cost accumulation system and be able to distinguish between “periodic versus perpetual” and “actual and versus standard.”
6. Understand job order, process, and activity-based cost systems.
7. Learn accounting for joint product and by-product costing.
8. Understand and interpret variances.
9. Become familiar the budgeting process.
10. Understand the different types of budgets: operating, flexible, and capital budgets.
11. Learn the standard cost system.
12. Learn the general analysis of cost and profit
13. Use computer applications in solving cost accounting problems
14.
managerial accounting assignment, provide the specific details, questions, or problems you're facing. Whether it's related to cost analysis, budgeting, performance measurement, decision-making, or any other managerial accounting topic, I'm here to help. Please share the details of your assignment, and I'll do my best to provide you with explanations, solutions, and guidance tailored to your needs. The more information you provide, the better I can assist you effectively.
New York Institute of Management provides Premier Executive Education Solutions. We are committed to advance the management practice and enhance organizational performance by creating and disseminating business knowledge and making it relevant, effective and universally accessible.
To find out more about our Certificate and Course Portfolio of programs please visit www.nyimexec.com
The overall aim of this unit is to introduce the fundamentals of management
accounting which apply to the wider business environment and the organizations
which operate within that environment. Students will explore how management accounting uses financial data to aid planning decisions, and the monitoring and
control of finance within organizations.
2. Aim
The aim of this unit is to provide learners with the understanding and ability to use cost information for budgeting
and forecasting purposes in the management of business.
Unit abstract
This unit looks at the cost information, both current and future, of businesses. It looks at how cost data is
collected, compiled and analysed, and processed into information that is useful for business managers. Learners
will have the opportunity to apply these principles to practice. The unit then deals with budgetary planning and
control. It looks at how to prepare forecasts and budgets and to compare these to actual business results. Learners
will again have practical experience of this.
Finally, the unit considers different costing and budgetary systems and the causes of resulting variances, together
with the possible implications and the corrective action the business will need to take.
Learning outcomes
On successful completion of this unit a learner will:
Be able to analyse cost information within a business
Be able to propose methods to reduce costs and enhance value within a business
Be able to prepare forecasts and budgets for a business
Be able to monitor performance against budgets within a business.
Unit content
1 Be able to analyse cost information within a business
Types of costs and classification: materials; labour; overheads; direct and indirect; fixed; variable and semi-
variable
Costing methods: job costing; batch costing; process costing; contract costing; service costing
Cost measurement: absorption and marginal costing; traditional overhead absorption and activity-based costing;
stock valuation methods (FIFO, LIFO, AVCO, standard costing)
Costing as basis for pricing and stock valuation: cost plus pricing; market pricing; target costing
Data collection and analysis: sampling methods and purpose; presentation of data eg tabular, diagrammatical,
graphical; index numbers
3. 2 Be able to propose methods to reduce costs and enhance value within a business
Cost reports: preparation; comparison with other data; explanation and implication of variances
Performance indicators: monitor and assess to identify potential improvements Quality and value: definitions and
interaction; added value; total quality management
3 Be able to prepare forecasts and budgets for a business
The budgeting process: purpose; benefits; links with organisational objectives/strategy; the budget manual;
budgets as planning, coordinating, motivation and control devices
Budget preparation: limiting or key factors; master, subsidiary and functional budgets; cash budgets; the
preparation of sales budget, debtors’ budgets, creditors’ budgets, production costs, raw materials and finished
goods budgets
Budgeting methods: incremental; zero-based; fixed and flexible
Behavioural consequences of budgets: padding the budget; spending to budget; creative budgets
4 Be able to monitor performance against budgets within a business
Variances: types; analysis; calculation; possible causes; corrective action
Reporting: operating statement; reconciliation of budgeted and actual results
Responsibility centres: relevance to budgeting; identification of responsibility for variances
4. Learning outcomes and assessment criteria
Learning outcomes Assessment criteria for pass
On successful completion of this unit a learner will: The learner can:
1.1 classify different types of cost
LO1 1.2 use different costing methods
Be able to analyse cost information within a business 1.3 calculate costs using appropriate techniques
1.4 analyse cost data using appropriate techniques
2.1 prepare and analyse routine cost reports
LO2 2.2 use performance indicators to identify potential
Be able to propose methods to reduce costs and improvements
enhance value within a business
2.3 suggest improvements to reduce costs, enhance
value and quality
3.1 explain the purpose and nature of the budgeting
process
LO3
3.2 select appropriate budgeting methods for the
Be able to prepare forecastsand budgets for a business
organisation and its needs
3.3 prepare budgets according to the chosen budgeting
method
3.4 prepare a cash budget
4.1 calculate variances, identify possible causes and
LO4 recommend corrective action
Be able to monitor performance against budgets 4.2 prepare an operating statement reconciling
within a business budgeted and actual results
4.3 report findings to management in accordance with
identified responsibility centres
5. Guidance
Links
The unit links with the following units within the specification: Unit 2: Managing Financial Resources and Decisions,
Unit 6: Business Decision Making, Unit 10: Financial Accounting and Reporting, Unit 11: Financial Systems and
Auditing and Unit 12: Taxation.
The unit covers topics essential to learners aiming for a career in management accounting and who would like to
become members of professional accounting bodies.
Essential requirements
There are no essential or unique resources required for the delivery of this unit.
Employer engagement and vocational contexts
Centres should develop links with local businesses. Many businesses and chambers of commerce want to promote
local business and are often willing to provide work placements, visit opportunities, information about businesses
and the local business context and guest speakers.