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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.
When to order-Material control If deliveries from suppliers normally take two weeks to arrive, then replenishment orders should be placed with them when the level of stocks rep
Firms need cash to invest in inventory, receivables and fixed assets and to create payments for operating expenses, so as to increase earnings and sales and make sure the smooth ru
Explain the Methods of pricing The following methods are used for intra company transfer pricing: 1) Total cost method: transfer is made at absorption cost which is the t
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Product life cycle Every product has a life cycle. The life cycle of a product vary from months to various years. For example in the case of cameras photocopying machines etc.
Pricing is a problem in four general types of situations: 1) When the firm develops or introduces a new product and it is fix the price of the product for the first time. 2)
Describe Benchmarking It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organi
stetment
Budgetary Control According to brown and Howard According to brown and Howard," budgetary control is a system of controlling costs which includes the preparation of budget coor
Absolute liquid ratio - Liquidity ratios Although receivables debtors and bills receivable are usually more liquid than inventories yet there may be doubts regarding their rea
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