Standard costing greatly facilitates the preparation of a materials budget. When standard cost records are not available, the details have to be adjusted to the period when manufacture takes place. Materials are controlled on the basis of price and usage after allowing for normal wastage. Technical experts decide on the best and most economical material to use for each purpose. While preparing the materials budget, the following factors must be taken into account:
The quantities of materials to be required for the production budget
The probable dates by which materials required must be available
Storage facilities available
Availability of credit facilities and other financial resources
Price trends in the market
The anticipated cost of the purchase to be made
Nature of materials i.e. seasonal or otherwise
Economic order quantity
Inventory policy The main advantage of materials budget is that it shall enable the purchase department to plan its programmes well in advance and make its purchases under the best conditions.
会计代写|中级管理会计代考INTERMEDIATE MANAGEMENT ACCOUNTING代写|Direct Labour Budget
Direct labour cost budget estimates the cost of labour required to achieve the budgeted output. To prepare this budget, first, direct labour time required (generally expressed in terms of labour hours) is ascertained, multiplied with the wage rates likely to apply during the budget period. Where different grades of labour exist, these should be specified separately in the budget. The factors to be considered while preparing labour budget are:
Output per labour (average)
Labour productivity
Rate of labour turnover of various groups
Wage payment plan
Incentives
Likely changes in wage structre
Effect learning curve etc.
会计代写|中级管理会计代考Intermediate Management Accounting代写|ACCT3011 Direct Materials Budget
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
会计代写|中级管理会计代考Intermediate Management Accounting代写|ACCT5001 ESSENTIALS OF SUCCESSFUL BUDGETING
会计代写|中级管理会计代考INTERMEDIATE MANAGEMENT ACCOUNTING代写|NATURE AND SCOPE OF MANAGEMENT ACCOUNTING
A close study of successful budgetary programmes indicates that there are some common practices to be observed. Failure to appreciate and observe these essentials will negate to a large extent the value of a budgetary program. These essentials or pre-requisites for successful budgeting are listed below:
Support and involvement of top management: The budget should be sponsored by management and it should have the active and whole-hearted support of top management. In other words, management should believe in the efficacy of budget as a tool of effective management and not as primarily an accounting device. The company should take the budgeting process very seriously.
Built-up by responsibility centres: For successful budgeting, it is also necessary that it should be built-up by responsibility centres and should show the controllable costs in each responsibility centre.
Participation by responsible supervisors: The responsible supervisors should participate in the process of setting the budget figures and should agree that the budget goals are reasonable. If they are not consulted, their attitude towards the budget is likely to be one of indifference and resentment. In other words, budget targets should not be imposed by the management rather they should emanate from the organisation itself.
Clear-cut organisational structure: A successful budgetary program pre-supposes a clear allocation of authority, duties and responsibilities in the organisation. Everybody in the organisation should know who is responsible to whom.
Continuous budget education: If the budget is to be effective, all responsible supervisors must be actively interested in it. This requires that the responsible supervisors are aware of the entire budgeting process. The best way to assure this is a program of continuous budget education through manuals, meetings, etc. to discuss the preparation of budget and actual results achieved.
Timeliness: The time period covered by the budget should be related to the necessity for and the possibility of effective management action.
Reasonably attainable targets: The targets laid down in the budget should be reasonably attainable. Too high a target will be frustrating and too low a target will encourage complacency.
Management by exception (MBE): In comparing actual performance with budgeted perfor-mance, attention should be focused on significant exceptions – items that are significantly different than expected.
Thorough review of budget estimates: The review of budget estimates by successively higher levels of management should be thorough. Casual review is a signal that management is really not much interested in the budget process.
Proper communication: Final approval of the budget should be specific and this approval should be communicated to the organisation. An attempt to operate on the doctrine “silence gives consent” inevitably leads to misunderstanding.
Responsibility accounting: Since budget is based upon historical data and since control includes the measurement of plans and objectives, the accounting system must be built-up around the responsibility structure of the enterprise. Comparisons between budgeted and actual results are meaningless if revenues used in the budget and the accounting system are not in harmony.
Flexible: It is important that budgeting is flexible rather than static. Instead of basing budgets on a single fixed level of activity, they should be prepared for several levels of activity. Again, budget should be revised if market conditions change.
Integration with standard costing system: For better results, a system of budgetary control should be used in conjunction with a system of standard costing and variance analysis.
会计代写|中级管理会计代考INTERMEDIATE MANAGEMENT ACCOUNTING代写|ADVANTAGES (USES) OF BUDGETING
The only justification of budgeting is its service to management. Therefore, a budgetary program should result in definite and tangible benefits directly related to the basic functions of management i.e. planning, coordination and control. Now it may be examined how budgeting helps in the aforesaid areas. Budgeting and Planning: Planning is the key to good management. It involves the establishment of objectives (long term and short term) for each department and division of the organization and the organization required to achieve them. Although basic planning decisions are usually made prior to the beginning of the budget cycle, the process of formulation of the budget leads to a refinement of these plans and when it discloses imbalances or unsatisfactory overall results, it may lead to a change in plans. Budgeting and Coordination: Coordination is the process whereby each department or division of a form works towards common objectives with due regard for all other such divisions and unity of effort. For example, they may be very close coordination between sales and production departments. A properly designed and operated budgetary program will contribute greatly to coordination throughout the firm. Budgeting and Control: Control is the action necessary to assure that plans and objectives are being achieved. Budget can be used as a benchmark that allows managers to compare actual performance with estimated or desired performance “Management by Exception” principle helps to exercise control through the budgets. Under this principle, significant variations only are looked into and analysed. In fact, budgetary control makes it possible for top management to feel the pulse of the enterprise throughout the year. Thus, a budget is a tool that helps managers in both their planning and control functions Some specific advantages of budeting and budgetary control are given below:
It forces early consideration of basic policies.
It requires adequate and proper organisation – definite assignment of responsibility for each function of the business.
It compels all members of management from the top-down to participate in the establishment of goals.
It compels all members of the departmental management to make plans in harmony with plans of other departments.
It forces management to put down in cold figures what is necessary for satisfactory results.
It compels management to demand adequate historical accounting data.
It compels management to plan for the most economical use of labour, material, facilities and capital.
It instills in all levels of management the habit of timely, careful and adequate consideration of all the relevant factors before reaching important decisions.
It reduces cost by increasing the span of control since a less number of supervisors are needed.
It helps to implement the principles of “Management by Objectives” (MBO) and “Management by Exception” (MBE) by comparing actual performance against the planned one and highlighting the variances. Only significant variances are reported to the higher level managers for investigation. All others are supposed to conform with the plan and no time and effort be spent for them.
It tends to remove the cloud of uncertainty that exists in many firms, especially among lower levels of management relative to basic policies and objectives of the enterprise.
It pinpoints efficiency or inefficiency.
会计代写|中级管理会计代考Intermediate Management Accounting代写|ACCT5001 ESSENTIALS OF SUCCESSFUL BUDGETING
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
会计代写|中级管理会计代考Intermediate Management Accounting代写|ACCT10001 NATURE AND SCOPE OF MANAGEMENT ACCOUNTING
会计代写|中级管理会计代考INTERMEDIATE MANAGEMENT ACCOUNTING代写|NATURE AND SCOPE OF MANAGEMENT ACCOUNTING
All organisations have goals and their managers need information as they strive to attain these goals. Information is needed for the management functions of planning, directing operations, controlling and decision-making. Management Accounting is an important part of the organisation’s management information system. Management Accounting information is purely optional, not mandatory, unregulated and drawn on data from the basic accounting system as well as other sources of data. It includes the following:
Financial Accounting This pertains to recording of all business transactions, preparation of a profit and loss account showing the results of the business and a balance sheet depicting assets and liabilities of the business. This, in turn, forms the basis for analysis and interpretation for providing meaningful data to the users of accounting information. Thus, without efficient financial accounting system, management accounting cannot be operative.
Cost Accounting – It refers to the classification, recording and allocation of expenditures for the determination of the cost of products or services and ensuring management control over the same. It provides information to users internal to the firm i.e. various levels of management. Management accounting uses many of the techniques of cost accounting such as standard costing, budgetary control, marginal costing, costvolume-profit analysis, differential, cost analysis etc.
Financial Management-Raising and use of finance, safeguarding assets and optimising the use of resources are important to the survival and growth of a business enterprise. It is in this context that management accounting is related to financial management.
Statistical Data – It is concerned with the supply of necessary statistical data and information by various departments of the business firm. Management accounting utilizes various tools and techniques of statistics like Time Series Analysis, Regression Analysis, Linear Programming, Game Theory etc. to analyse and interpret the data.
Electronic Data Processing – Management accounting utilizes the facility of computers in its accounting.
Quantitative Techniques – Of late, the use of quantitative techniques such as operations research, linear programming, game theory in area of managerial decision-making has increased considerably.
Taxation – It requires computation of profits in accordance with the provisions of the Income-tax Act and also prompt filing of returns periodically and payment of taxes. The management accountant has to depend on tax accounting to plan and minimise the tax liability of the firm.
Internal Control and Internal Audit – Management accountant heavily depends on internal financial controls like internal audit and internal check to ensure smooth operation of the financial system of the concern.
会计代写|中级管理会计代考INTERMEDIATE MANAGEMENT ACCOUNTING代写|FINANCIAL ACCOUNTING AND MANAGEMENT ACCOUNTING
Provision of accounting information lies at the basis of all accounting, whether financial, cost or management accounting. Accounting data are essential in managerial function of planning, control and decision-making. As such financial accounting is intimately related to management accounting. In spite of these common features, management accounting differs from financial accounting in the following respects:
会计代写|中级管理会计代考Intermediate Management Accounting代写|ACCT10001 NATURE AND SCOPE OF MANAGEMENT ACCOUNTING
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|DPBS1140 Differential costs and opportunity costs
会计代写|初级管理会计代考MANAGEMENT ACCOUNTING代写|Differential costs and opportunity costs
Relevant costs are also differential costs and opportunity costs.
Differential cost is the difference in total cost between alternatives.
An opportunity cost is the value of the benefit sacrificed when one course of action is chosen in preference to an alternative. For example, if decision option $A$ costs $\$ 300$ and decision option $B$ costs $\$ 360$, the differential cost is $\$ 60$.
Suppose for example that there are three options, A, B and C, only one of which can be chosen. The net profit from each would be $\$ 80, \$ 100$ and $\$ 70$ respectively. Since only one option can be selected option B would be chosen because it offers the biggest benefit. \begin{tabular}{lr} Profit from option B & $\$$ \ Less opportunity cost (ie the benefit from the most profitable alternative, A) & 100 \ Differential benefit of option B & $\frac{80}{20}$ \ \hline \end{tabular} The decision to choose option B would not be taken simply because it offers a profit of $\$ 100$, but because it offers a differential profit of $\$ 20$ in excess of the next best alternative.
会计代写|初级管理会计代考MANAGEMENT ACCOUNTING代写|Sunk costs
A sunk cost is a past cost which is not directly relevant in decision making. The principle underlying decision accounting is that management decisions can only affect the future. In decision making, managers therefore require information about future costs and revenues which would be affected by the decision under review. They must not be misled by events, costs and revenues in the past, about which they can do nothing.
You need to be able to pick out which costs are the relevant costs. An assessment question may give you a short scenario and ask you what the relevant cost is.
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|DPBS1140 Differential costs and opportunity costs
例如，假设有三个选项，A, B和C，只有一个可以选择。两家公司的净利润分别为$\$ 80, \$ 100$和$\$ 70$。 因为只有一个选项可以被选择，选项B将被选择，因为它提供了最大的利益\begin{tabular}{lr} Profit from option B & $\$$ \ Less opportunity cost (ie the benefit from the most profitable alternative, A) & 100 \ Differential benefit of option B & $\frac{80}{20}$ \ \hline \end{tabular}选择方案B的决定不会仅仅因为它提供了$\$ 100$的利润，而是因为它提供了比次优方案多$\$ 20$的差额利润
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
如果你也在 怎样代写初级管理会计Principles of Management Accounting ACF5956这个学科遇到相关的难题，请随时右上角联系我们的24/7代写客服。初级管理会计Principles of Management Accounting为组织的内部管理部门、其雇员、经理和行政人员提供财务信息，以便为决策提供依据并提高绩效。换句话说，管理会计师是战略伙伴。在管理会计或管理会计中，管理人员在决策中使用会计信息，并协助管理和履行其控制职能。
初级管理会计Principles of Management Accounting的一个简单定义是向管理人员提供财务和非财务决策信息。换句话说，管理会计帮助组织内部的董事进行决策。这也可以被称为成本会计。这是区分、检查、破译和向主管人员传授数据的方式，以帮助完成商业目标。收集的信息包括所有领域的会计，教育行政部门识别财务支出和组织决策的业务任务。会计师使用计划来衡量组织内的整体运营战略。
初级管理会计Principles of Management Accounting代写，免费提交作业要求， 满意后付款，成绩80\%以下全额退款，安全省心无顾虑。专业硕 博写手团队，所有订单可靠准时，保证 100% 原创。最高质量的初级管理会计Principles of Management Accounting作业代写，服务覆盖北美、欧洲、澳洲等 国家。 在代写价格方面，考虑到同学们的经济条件，在保障代写质量的前提下，我们为客户提供最合理的价格。 由于作业种类很多，同时其中的大部分作业在字数上都没有具体要求，因此初级管理会计Principles of Management Accounting作业代写的价格不固定。通常在经济学专家查看完作业要求之后会给出报价。作业难度和截止日期对价格也有很大的影响。
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|ACX5903 Fixed costs and variable costs
会计代写|初级管理会计代考Principles of Management Accounting代写|Fixed costs and variable costs
A fixed cost is a ‘cost incurred for an accounting period, that, within certain output or turnover limits, tends to be unaffected by fluctuations in the levels of activity (output or turnover)’. A variable cost is a ‘cost that varies with a measure of activity’. A semi-variable cost is a ‘cost containing both fixed and variable components and thus partly affected by a change in the level of activity’. CIMA Official Terminology (a) Direct material costs are variable costs because they rise as more units of a product are manufactured. (b) Sales commission is often a fixed percentage of sales revenue, and so is a variable cost that varies with the level of sales. (c) Telephone call charges are likely to increase if the volume of business expands, and so they are a variable overhead cost. (d) The rental cost of business premises is a constant amount, at least within a stated time period, and so it is a fixed cost. Note that costs can be classified as direct costs or indirect costs/overheads, or as fixed costs or variable costs. These alternative classifications are not, however, mutually exclusive, but are complementary to each other, so that we can find some direct costs that are fixed costs (although they are commonly variable costs) and some overhead costs that are fixed and some overhead costs that are variable.
会计代写|初级管理会计代考Principles of Management Accounting代写|Relevant costs
Relevant costs are future cash flows arising as a direct consequence of a decision. Relevant costs are future costs Relevant costs are cash flows Relevant costs are incremental costs Decision making should be based on relevant costs. (a) Relevant costs are future costs. A decision is about the future and it cannot alter what has been done already. Costs that have been incurred in the past are totally irrelevant to any decision that is being made ‘now’. Such costs are past costs or sunk costs.
Costs that have been incurred include not only costs that have already been paid, but also costs that have been committed. A committed cost is a future cash flow that will be incurred anyway, regardless of the decision taken now.
(b) Relevant costs are cash flows. Only cash flow information is required. This means that costs or charges which do not reflect additional cash spending (such as depreciation and notional costs) should be ignored for the purpose of decision making. (c) Relevant costs are incremental costs. For example, if an employee is expected to have no other work to do during the next week, but will be paid his basic wage (of, say, $\$ 100$ per week) for attending work and doing nothing, his manager might decide to give him a job which earns the organisation $\$ 40$. The net gain is $\$ 40$ and the $\$ 100$ is irrelevant to the decision because although it is a future cash flow, it will be incurred anyway whether the employee is given work or not. Other terms are sometimes used to describe relevant costs.
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|ACX5903 Fixed costs and variable costs
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
如果你也在 怎样代写初级管理会计Principles of Management Accounting ACF5956这个学科遇到相关的难题，请随时右上角联系我们的24/7代写客服。初级管理会计Principles of Management Accounting为组织的内部管理部门、其雇员、经理和行政人员提供财务信息，以便为决策提供依据并提高绩效。换句话说，管理会计师是战略伙伴。在管理会计或管理会计中，管理人员在决策中使用会计信息，并协助管理和履行其控制职能。
初级管理会计Principles of Management Accounting的一个简单定义是向管理人员提供财务和非财务决策信息。换句话说，管理会计帮助组织内部的董事进行决策。这也可以被称为成本会计。这是区分、检查、破译和向主管人员传授数据的方式，以帮助完成商业目标。收集的信息包括所有领域的会计，教育行政部门识别财务支出和组织决策的业务任务。会计师使用计划来衡量组织内的整体运营战略。
初级管理会计Principles of Management Accounting代写，免费提交作业要求， 满意后付款，成绩80\%以下全额退款，安全省心无顾虑。专业硕 博写手团队，所有订单可靠准时，保证 100% 原创。最高质量的初级管理会计Principles of Management Accounting作业代写，服务覆盖北美、欧洲、澳洲等 国家。 在代写价格方面，考虑到同学们的经济条件，在保障代写质量的前提下，我们为客户提供最合理的价格。 由于作业种类很多，同时其中的大部分作业在字数上都没有具体要求，因此初级管理会计Principles of Management Accounting作业代写的价格不固定。通常在经济学专家查看完作业要求之后会给出报价。作业难度和截止日期对价格也有很大的影响。
会计代写|初级管理会计代考Principles of Management Accounting代写|Dealing with overheads on a cost centre basis
We saw in Chapter 1 that businesses are often divided into departments, where each department carries out a separate task. Many of these businesses charge overheads to cost units on a department-by-department basis. They do so in the belief that it will give rise to more accurate full costing information. It is probably only in a minority of cases, however, that it leads to any great improvement in accuracy. Although applying overheads on a departmental basis may not be of enormous benefit, it is probably not an expensive exercise. Cost elements are likely to be collected department by department for other purposes (particularly control) and so applying overheads on a department-by-department basis may be a fairly straightforward matter.
In Example $4.4$ we see how the departmental approach to deriving full cost can be applied in a service-industry context.
Where cost determination is dealt with departmentally, each department is known as a cost centre. This can be defined as a particular physical area, or some activity, or function, for which the cost is separately identified. Charging direct cost to jobs in a departmental system is exactly the same as where the whole business is one single cost centre. It is simply a matter of keeping a record of:
the number of hours of direct labour worked on the particular job and the grade of labour, where there are different grades with different rates of pay;
the cost of the direct materials taken from stores and applied to the job; and any other direct cost elements, for example some subcontracted work, associated with the job. This record keeping will normally be done cost centre by cost centre. The total production overheads of the entire business must be broken down on a cost centre basis. That is, they must be divided between the cost centres, so that the sum of the overheads of the individual cost centres equals the overheads for the entire business. By charging all of their overheads to jobs, the cost centres will, between them, charge all of the overheads of the business to jobs.
会计代写|初级管理会计代考Principles of Management Accounting代写|Batch costing
Many types of goods and some services are produced in a batch of identical, or nearly identical, units of output. Each batch produced, however, is distinctly different from other batches. A theatre, for example, may put on a production whose nature and cost is very different from that of other productions. On the other hand, ignoring differences in the desirability of the various types of seating, all of the individual units of output (tickets to see the production) are identical.
In these circumstances, the cost per ticket is calculated using a batch costing approach and involves:
using a job-costing approach (taking account of direct and indirect costs and so on) to find the cost of mounting the production; and then dividing the cost of mounting the production by the expected number of tickets to be sold to find the cost per ticket.
Figure $4.13$ shows the process for deriving the cost of one cost unit (product) in a batch.
Batch costing is used in a variety of industries including clothing manufacturing, engineering component manufacturing, tyre manufacturing, bakery goods and footwear manufacturing.
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
Many businesses provide products or services that are distinct rather than identical. In this situation, the process-costing approach that we used with litres of ‘Orange Fizz’ (Activity 4.1) and garden gnomes (Example 4.1) would be inappropriate. While it may be appropriate to assign an average cost to each identical unit of output, this is not the case where units of output are quite different. It would be illogical, for example, to assign the same cost to each car repair carried out by a garage, irrespective of the complexity and size of the repair.
Where a business offers distinct products or services, a job-costing approach is normally used. This involves accumulating costs for each individual unit of output in order to determine its full cost. To understand how this can be done, we first need to understand the difference between direct and indirect cost.
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|Direct and indirect cost
To provide full cost information, the various elements of cost must be accumulated and then assigned to particular cost units on some reasonable basis. Where cost units are not identical, the starting point is to separate cost into two categories: direct cost and indirect cost.
Direct cost. This is a cost that can be identified with specific cost units. That is to say, the cost can be traced to a particular cost unit and can be measured reliably. The main examples of a direct cost are direct materials and direct labour. Thus, in determining the cost of a car repair by a garage, both the cost of spare parts used in the repair and the cost of the mechanic’s time would form part of the direct cost of that repair. Collecting elements of direct cost requires an efficient cost-recording system. It must be capable of capturing the cost of direct materials used on each job and the cost of direct workers.
Indirect cost (or overheads). This comprises all other elements of total cost. That is to say, those items that cannot be identified with each particular cost unit (job). Thus, the amount paid to rent the garage would be an indirect cost of a particular car repair.
The terms ‘indirect cost’ and ‘overheads’ are synonymous and we shall use them interchangeably for the remainder of this book.
Real World 4.2 gives some indication of the relative importance of direct and indirect costs in practice.
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
The simplest case for determining the full cost per unit of output is where a business produces a single product or service. Here the production process will involve a series of continuous or repetitive activities and the output will consist of identical, or near identical, items. To calculate the full cost per unit of output, we must average the total manufacturing cost over the number of units produced. It is simply a matter of adding up all of the elements of cost of production incurred in a particular period (materials, labour, rent, fuel, power and so on) and dividing this total by the total number of units of output for that period. This approach is referred to as process costing.
Fruitjuice Ltd began operations at the beginning of May. It has just one product, a sparkling orange drink that is marketed as ‘Orange Fizz’. During May the business produced 7,300 litres of the drink. The manufacturing cost incurred was made up as follows: $\begin{array}{lr} & £ \ \text { Ingredients (oranges, sugar, water and so on) } & 390 \ \text { Fuel } & 85 \ \text { Rent of factory accommodation } & 350 \ \text { Depreciation of equipment } & 75 \ \text { Labour } & 852\end{array}$ What is the full cost per litre of producing ‘Orange Fizz’ in May? Full cost per litre $=$ Total manufacturing costs/Number of litres produced $$ \begin{aligned} &=£(390+85+350+75+852) / 7,300 \ &=1,752 / 7,300 \ &=£ 0.24 \text { per litre } \end{aligned} $$
Process costing tends to be fairly straightforward as it involves tracking the production of identical, or near identical, items. Nevertheless, problems can still arise when measuring certain elements of manufacturing cost. In the case of Fruitjuice Ltd, for example, how is the cost of depreciation deduced? It can only be an estimate and so its reliability is open to question. The cost of raw materials may also be a problem. Should we use the ‘relevant’ cost of the raw materials (in this case, almost certainly the replacement cost), or the actual price paid for it (historic cost)? As the cost per litre will presumably be used for decision-making purposes, replacement cost seems likely to provide the more logical choice. For some reason, however, historic cost seems to be more widely used in practice.
There can also be problems in calculating how much output was produced. If making Orange Fizz is not a very fast process, some of the product will be in the process of being made at any given moment. Partially completed Orange Fizz represents work in progress (or work in process) that should be taken into account when calculating the total output, and cost per unit of output, for a period. This can, however, be a little tricky. In Example $4.1$ we see why and how we deal with work in progress.
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|ACCT222 The most efficient use of scarce resources
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|The most efficient use of scarce resources
In many cases, the output of a business is determined by customer demand for the particular goods or services. It is not unusual, however, for output to be restricted by the productive capacity of the business. Limited productive capacity might stem from a shortage of any factor of production – labour, raw materials, space, machine capacity and so on. Such scarce factors are often known as key or limiting factors.
Where productive capacity acts as a brake on output, management must decide on how best to deploy the scarce resource. That is, it must decide which products, from the range available, should be produced and how many of each should be produced. Marginal analysis can be useful to management in such circumstances. The guiding principle is that the most profitable combination of products will occur where the contribution per unit of the scarce factor is maximised. Example $3.3$ illustrates this point.
Businesses often need to decide whether to produce a product or service that they sell themselves, or to buy it in from some other business. Thus, a producer of electrical appliances might decide to subcontract the manufacture of one of its products to another business, perhaps because there is a shortage of production capacity in the producer’s own factory, or because it believes it to be cheaper to subcontract than to make the appliance itself.
It might just be part of a product or service that is subcontracted. For example, the producer may have a component for the appliance made by another manufacturer. In principle, there is hardly any limit to the scope of make-or-buy decisions. Virtually any part, component or service that is required in production of the main product or service, or the main product or service itself, could be the subject of a make-or-buy decision. So, for example, the human resources function of a business, which is normally performed in-house, could be subcontracted. At the same time, electrical power, which is typically provided by an outside electrical utility business, could be generated in-house. Obtaining services or products from a subcontractor is referred to as outsourcing.
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|ACCT222 The most efficient use of scarce resources
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|BA2002 Use of break-even analysis
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|Use of break-even analysis
A 2012 survey of 200 members of the US Institute of Management indicated that about 38 per cent of US businesses extensively use break-even analysis, with a further 21 per cent considering using it.
A 2013 survey of the practices of 11 UK small and medium sized businesses found that all used some form of break-even analysis. Small businesses tended to adopt an informal approach, which involved a rough understanding of the fixed costs incurred and the level of sales needed to cover them. Medium-sized businesses, on the other hand, adopted a more formal approach. They used break-even analysis, along with calculations of target profits and margins of safety, as part of their formal planning procedures.
Sources: Clinton D. and White L. (2012) Roles and practices in management accounting 2003-2012, Strategic Finance, November, pp. 37-43; and Lucas, M., Prowle, M. and Lowth, G. (2013) Management Accounting Practices of UK Small-Medium-Sized Enterprises, CIMA, July. The media frequently refer to the BEP for businesses and other activities. Football is one example. There is often mention of the number of spectators required for a particular club to break even. Furthermore, UEFA and the top four divisions of English football (Premiership, Championship, Leagues 1 and 2) has implemented a financial fair play (FFP) rule for football clubs based on the concept of break even. Clubs participating, or wishing to participate, in the competitions of these bodies must, as a minimum, broadly balance their spending against the revenues generated. This is designed to prevent clubs recklessly spending money in pursuit of success and thereby placing their long-term future in jeopardy. It is also aimed at preventing very wealthy football club owners from financing their clubs from funds unconnected with those clubs’ revenues. Failure to adhere to this break-even rule can result in heavy fines or even exclusion from the various competitions. Real World $3.8$ discusses an example of one such punishment.
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|Read all about it!
Guardian Media Group (GMG), the owner of The Guardian and The Observer, has halved its annual losses and is on course to break even in 2019, in line with a three-year plan to return the publisher to stability. David Pemsel, GMG’s chief executive, said in an interview that tighter cost controls and a programme to encourage donations from readers had cut losses from $£ 38.9$ million to $£ 18.6$ million in 2017-18. “We laid out our plan two years ago to break even by March next year and we are on track,” he said. The three-year plan was devised by Mr Pemsel and Kath Viner, editor of The Guardian, in 2016 when the publisher’s losses hit $£ 57$ million. They were projected to rise sharply in future years, leading to fears that the company would eventually run out of cash.
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|BA2002 Use of break-even analysis
资料来源：Clinton D. 和 White L. (2012) Roles and practice in management accounting 2003-2012，Strategic Finance，11 月，第 37-43 页；Lucas, M.、Prowle, M. 和 Lowth, G.（2013 年）英国中小型企业的管理会计实务，CIMA，7 月。 媒体经常提到商业和其他活动的 BEP。足球就是一个例子。经常提到特定俱乐部收支平衡所需的观众数量。此外，欧足联和英格兰足球的前四级联赛（英超联赛、冠军联赛、联赛 1 和 2）已经基于盈亏平衡的概念为足球俱乐部实施了财务公平竞赛 (FFP) 规则。参加或希望参加这些机构比赛的俱乐部必须至少在其支出与产生的收入之间进行大致平衡。这是为了防止俱乐部为了追求成功而肆无忌惮地花钱，从而危及他们的长期未来。它还旨在防止非常富有的足球俱乐部所有者使用与俱乐部收入无关的资金为其俱乐部提供资金。 不遵守这一收支平衡规则可能会导致巨额罚款，甚至被排除在各种比赛之外。真实世界3.8讨论了一个这样的惩罚的例子。
会计代写|管理会计代考MANAGEMENT ACCOUNTING代写|Read all about it!
Guardian Media Group (GMG) 是 The Guardian 和 The Observer 的所有者，其年度亏损已减半，并有望在 2019 年实现收支平衡，这符合让出版商恢复稳定的三年计划。GMG 首席执行官戴维·佩姆塞尔（David Pemsel）在接受采访时表示，更严格的成本控制和鼓励读者捐款的计划已经减少了£38.9万到£18.62017-18 年的百万美元。“我们两年前制定了计划，到明年三月实现收支平衡，我们正在走上正轨，”他说。2016 年，当出版商遭遇亏损时，佩姆塞尔先生和卫报编辑凯丝·维纳制定了这个三年计划£57百万。预计未来几年它们将急剧上升，导致人们担心公司最终会用完现金。
现代博弈论始于约翰-冯-诺伊曼（John von Neumann）提出的两人零和博弈中的混合策略均衡的观点及其证明。冯-诺依曼的原始证明使用了关于连续映射到紧凑凸集的布劳威尔定点定理，这成为博弈论和数学经济学的标准方法。在他的论文之后，1944年，他与奥斯卡-莫根斯特恩（Oskar Morgenstern）共同撰写了《游戏和经济行为理论》一书，该书考虑了几个参与者的合作游戏。这本书的第二版提供了预期效用的公理理论，使数理统计学家和经济学家能够处理不确定性下的决策。
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