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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.
Ranking of Decision Packages The ranking procedure is employed to establish a rank priority of decision packages in the organization. Throughout the ranking procedure managers
Explains how activity –based techniques can be used to improve performance
STEPS OF DEVELOPING A COST ESTIMATING RELATIONSHIP Firmly speaking, a CER is not a quantitative method. It is a framework for using suitable quantitative methods to quantify a
Master budgeting Jaya Sdn. Bhd. is a wholesaler. The management of Jaya Sdn. Bhd. has been extremely worried about the company''s cash position over the last few years. In July 201
Operating Cycle Method In this way, total operating expenses for a period are divided via the number of operating cycles in the relevant period to compute the cash need for wor
Gardner Manufacturing Company produces a product that sells for $120. A selling commission of 10% of the selling price is paid on each unit sold. Variable manufacturing costs are $
Characteristics of standard costing 1) Flow of information : in a standard costing system cost information flows in a straight forward manner as material is requisitioned and
HGT Company initialized the accounting period with the following beginning balances: During the accounting period, the company purchased $60,000 of raw materials and ended
What is traditional costing In traditional costing overheads are first related to cost centers (production and service centres) and then to cost object, i.e. production. ABC o
Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f
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