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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.
Risk seeking: A risk seeker is a decision maker who is concerned in the best likely outcome no matter how small the chance that they might take place i.e. he takes high risks
JIT purchasing arrangements JIT philosophy also extends to adapting JIT purchasing techniques whereby delivery of material immediately precedes their use. By arranging with sup
Do you think the food industry in general has equivocated on food labeling? Are all foods labeled natural in the same way? Has modern society subverted the concept of nature?
Inventory planning & control under uncertainty The basic EOQ model assumes that all the parameters (elements) in the model are certain (i.e. can be predicted precisely in advan
Question: (a) (I) The following equations relate to the market conditions for pullovers at a given point of time: Demand Function: Q d = 1200 - P Supply Function: Q s
INTERPRETING THE SIMPLEX TABLEAU We can now see that our attention must be directed to reading, interpreting and analyzing the (simplex) results. It is erroneous, however, to a
Least-cost-selection
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
Assumptions for relevant costs The key assumptions made in relevant costing are: The cost behavior is recognized. The amount of fixed costs, unit variable costs, selli
When the customers of the company are spread over broad geographical areas then in place of a particular collection centre the company opens collection centres at the regional stag
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