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Directing
There are number of good plans which are never realized. To realize a plan it requires the initiation and
direction of the number of actions. Often, these actions should be well coordinated and timed. Resources should be ready, and authorizations need to be in place to allow persons to act according to the desired plan. Similarity, imagine that a composer has written a beautiful score of the music -- the "plan." intended for it to come to life needs all the members of the orchestra, and the conductor who can bring the orchestra into synchronization and accord. Likewise, the managerial accountant has a chief role in putting business plans into action. Information systems should be developed to permit management to orchestrate the organization. Management should know that inventory is available when required, productive resources which are man and machine these are scheduled appropriately, transportation systems will be available to deliver the output, and on and on. In calculation, management must be ready to demonstrate compliance with contracts and the regulations. These are very complex tasks. They cannot happen without strong information resources. A major element of management accounting is to grow information systems to support the ongoing direction of business effort.
Managerial accounting supports the "directing" function in number of ways. Areas of support include costing, special analysis and production management.
Difference between budgetary control and standard costing Budgetary control The budgets are prepared for the concern as a whole. The budgets are fixed on the basis of p
Salialailai Ltd manufactures water tanks for different sizes for use by industrial customers. The company uses a job costing system, in which manufacturing overhead is applied on t
distinguish between cost unit and cost centre
INCOME STATEMENTS
Determine the Need and importance of management accounting: 1.Increasing efficiency: management accounting increases efficiency of business operations. The targets of differe
Advantages and limitations of game theory Advantage: Game theory helps us to learn how to approach and understand a conflict situation and to improve the decision maki
chapter 5 solution
Gather Data about Alternatives When potential areas of activity are specified, management must assess the potential growth rate of the activities, the capability of the company
Laplace Criterion of Rationality This criterion holds that if decision makers do not know the probabilities of the various states of nature and have no reason to think otherwis
Difference between Direct labour and Indirect labour Direct labour:- Labour which plays an active and direct part in the production of a particular commodity is called di
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