Managerial Accounting College Essays Samples For Students

A manager happens to have a lot of responsibilities in a company or an organization. He appears in control of certain company operations. Managerial accounting at times can also be referred to as ‘cost accounting’. When a manager appears equipped with managerial accounting information, he appears in a better position to make decisions inside the organization.
During the managerial accounting quarter, we did some group assignments and group presentations. These group works assisted me in learning the value of teamwork. Moreover, it also helped me realize that a company or an organization can achieve greater results and good performance if all the involved ...

Introduction

Definition of Managerial Accounting
Businesses must implement effective decisions at varying phases of growth through management accounting for a chance of a future. According to an article on the Harvard business Review, businesses mainly go through two main phases of growth: the start-up phase or the mature phase. According to Churchill and Lewis, each of these phases demand and rely on differing strategies that fulfill a need and/or takes the business to the next phase. The techniques used or applied to haul business through these phases are referred to as managerial accounting techniques. The parties responsible for reinforcing managerial ...

Managerial accounting as the name suggests provides information to the internal users of accounts. Internal users include executives, product managers, and sales managers to name a few. Any other user within the organization may also benefit from managerial accounting methods and use the compiled information to make informed decisions that would affect the financial performance of the company. As the information gathered is for internal users there is no compulsion that the data should abide by US GAAP rules (Heisenger & Hoyle, 2013). For example, a sports good manufacturer may add the non-production costs to the inventory as the internal users are ...

Compare and Contrast Financial and Managerial Accounting

Compare and Contrast Financial and Managerial Accounting

Introduction

In the current world, the environment in which companies operate has become more competitive, and this trend worsens by the day. As such, it has become imperative that firms focus more on advanced and sophisticated means of gathering accounting information for them to react as required towards market dynamics. In this consideration, it is important for these companies to employ proper accounting practices, which might either be financial, managerial or cost accounting (Hoffjan, Nevries, and Stienemann, n.d.). This paper will, however, focus on the first two. It will explore their similarities, differences ...

Introduction

Management accounting can assist managers in an organization make timely and purposeful management decisions about the organization. Different organizations have different managerial accounting needs depending on their most essential area of business. Generally, management accounting deals with providing accounts and management reports to managers within the organization (Khan & Jain 2007). The information provided is crucial in assisting managers make informed decisions for control and management purposes. In contrast to financial accounting, which provides annual reports to external parties such as investors, creditors, shareholders and others, management accounting provides periodical reports (Coombs, Hobbs, and Jenkins 2005). These reports are important ...

Business is one of the most revenue earning activity to both the nation and individuals. Arguably, there are various major forms of business ownership in the world today. In most case, choice of business ownership depends on group or individual objectives, capital, number of members, as well as the outcomes of the business ownership. This business ownership includes partnership, sole proprietorship, corporations, as well as limited liability companies. Each of this business ownership has various advantages and disadvantages.

Certainly, compared to other business ownership, partnership can be bad or good. One of the pros of partnership is that it ...

Abstract

Competition has increased over the years due to globalization and improved access to information. Consequently, firms are constantly attempting to reduce cost, improve efficiency and increase demand to remain competitive. In this regard, many firms in this era have fully dedicated management and cost accountants who constantly look for ways to reduce running and production cost. One of the inventions meant to cut costs is the philosophy of lean accounting, which includes just in time (JIT) production and total quality management (TQM).
The aim of this paper is to suggest to Uptown clinic chief administrator on how she ...

According to Patterson, “servant leaders are those leaders who lead an organization by focusing on their followers, such that the followers are the primary concern and the organizational concerns are peripheral” (Shekari and Nikooparvar, 2012). They are those leaders who place their subordinate’s needs before their own and focus on helping their employees to grow and achieve optimization in their careers and skills (Waterman, 2011). Managerial accounting is a combination of accounting, finance and management while making use of leading techniques so that the businesses can be a success. It actually involves the identification of, measurement of, analysis, interpretation and ...

Lesson 4: Cost and Behavior

Lesson 5: Pricing and Service Decisions
Lesson 6: Planning and budgeting
Abstract
This document contains responses to questions for three lessons from the unit HA-343 Healthcare Financial Management. They are Lesson 4: Cost and Behavior; Lesson 5: Pricing and Service Decisions and Lesson 6: Planning and budgeting.
Lesson 4: Cost and Behavior

Question 1: Explanation of financial accounting, managerial accounting,

and managerial finance
- Financial accounting relates to preparation of financial statements to be used by decision makers. They include suppliers, stockholders, banks, government agencies, government agencies, owners of industries. There will always be a need for financial accounting because it limits the ...

Activity- Based Costing

There are several advantages in implementing activity-based costing over the traditional accounting methods. With activity-based costing, overheads are not arbitrary assigned to the goods or services. There is an aim to trace those costs to the different products. This results in correct costing analysis. Traditional methods lead to over-costing and under-costing and the management is unable to make a strategic decision wisely on which product to increase or cease production (Asada, Bailes & Suzuki, 2000).
The management is able to get clarity on which products increase the profit and which are a drain on the company resources. With accurate overhead ...

Task 1

This section presents a brief report of the research conducted on local accountancy firms. It clarifies the accounting services offered to the clients. It begins by giving an in depth understanding of the various services offered and the utility added to the client. Services generally range from independent auditing, tax advisory and financial planning advisory.

A research on services offered by local accountancy firms indicates that most of local firms offer both managerial accounting services and financial accounting services. Under managerial accounting services, the firms aid clients with the understanding of how management decisions should be made for business performance. ...

Discuss the characteristics of “relevant information” in the context of managerial accounting and strategic decision making. What are opportunity costs? What is the relevance of sunk costs when analyzing new opportunities?
One of the major roles of the managers is to make decisions where they must choose the most suitable course of action; this role can only be fulfilled successfully when the manager is able to acquire the relevant information. There are basically two broad characteristics of information which makes it relevant including it being future oriented and the presence of alternatives. Any historical information can not differ ...

- Advantages and disadvantages of partnerships:
A partnership is a form of business ownership that results from the association of two or more people in co-owning a business.

Advantages of partnerships:

- Partnerships have little start up restrictions and other than the setup of the partnership agreement, everything else is simple.
- Partnerships enable the pooling of resources i.e. capital, skills and borrowing power thus people can invest more as a group than as individuals.
- Partnerships offer better chances at specialization than sole proprietorships since partners can assign roles depending on skillsets and get the benefits of specialization.
- Partnerships ...

Two distinct set of financial reports are used in managing a company, one made by Financial Accountants and the other by Managerial Accountants. These reports are aimed at the company’s external stakeholders such as investors and creditors and are prepared for each quarter and at the end of the financial year and. The format and content of these reports are laid down in laws such as the SOX (Sarbanes- Oxley) Act and in accounting regulations such as the GAAP (Generally Accepted Accounting Principles) and the IFRS (International Financial Reporting Standards). Financial reports become comparable across companies.
Managerial accounting ...

Edmonds, Tsay, and Olds (2011, p.314) considers the cash budget to be one of the most important operating budgets developed by the company. The reason for this is that it reveals the amount of cash excess and deficit incurred by the company, which is usually on a monthly basis (Horngren, Harrison, & Oliver, 2012, p.1065). The additional purpose of the cash budget is that it reveals the amount of cash that can be used by the company for short-term investments or for the repayment of previous borrowings in the event of a cash excess (Edmonds, Tsay, & Olds, 2011, p.315). The ...

Introduction 3

Comparative Financial Performance Analysis of Pepsi and Coca Cola for the Last Two Years (2014 and 2015) through Ratios and their Interpretations 3
Analysis of Profitability Ratios 4
Gross Profit MarginW 4
Net Profit margin 5
Return on Assets 6
Analysis of Solvency Ratios 7
Current Ratio 8
Quick Ratio 9
Analysis of Capital Structure Ratios 10
Debt-to-Equity Ratio 11
Interest Coverage Ratio 12
Examination of Efficiency Ratios 14
Days Sales are Outstanding 14
Days in Inventory 15
Payables Period 16
Findings and Recommendations 17

References 20

Comparative Financial Performance Analysis of Pepsi and Coca Cola
Introduction
Because of their global ...

Computation of Variable and Fixed Cost Elements

For performing the managerial accounting analysis to compute the variable and fixed cost elements by using a high-low method, the following table is considered which reveals that the actual quantity of units produced and the total cost incurred to produce them:
Variable Cost per Unit = Change in the total cost of the two production activities

Change in the total production activity

Variable Cost per Unit = Total Cost Higher Activity - Total Cost Lower Activity

Units Produced Higher Activity - Units Produced Lower Activity

= ($14,940 - $11,200) / (10,000 - 7,100) = $3,740 / 2,900
Variable Cost per Unit = $1.289 per unit

Total Fixed Cost is calculated as follows:

Total Cost Higher Activity – (Variable cost per ...

Job order costing and process order costing are two different managerial accounting procedures that are used by various companies around the world. Many companies prefer using job order costing, while other companies choose to use process costing. According to Heisinger and Hoyle (2014), job order costing is used by companies which produce a unique product, whereas process order costing is used by companies that produce goods and service in bulk. These good and services pass through a series of processes before the final product is obtained.
It is not that one type of method is more prevalent than other, but ...

Bibliography

Print
Challa, S. and Potumarthi, R. (2013) ‘Chemometrics-Based Process Analytical Technology (PAT) Tools: Applications and Adaptation in Pharmaceutical and Biopharmaceutical Industries’. Appllied Biochemistry Biotechnolology, Volume 169, pp. 66-76.
Rathore, A., Bhambure, R. and Ghare, V. (2010) Process analystical technology (PAT) for biopharmaceutical products. Anal Bionalatical Chemistry, 398, pp. 137-134.
Gendrin, C., Roggo, Y. and Collet, C. (2008) Pharmaceutical applications of vibrational chemical imaging and chemometrics. Journal of Pharmaceutical and Biomedical Analsysis, Volume 48, pp. 533-553.
Glassey, J. et al. (2011) Process analytical technology (PAT) for biopharmaceuticals, Biotechnology Journal 6, (4), pp. 369-377.
Kegam, S. ...

Standard costing and variance analysis

The standard cost is the predetermined cost that is carefully and definition. The estimated cost of the production of a single unit or the cost of different service performance is done (Rajasekaran & Lalitha, 2011). This is the narrow definition of the standard cost. The broad meaning of the standard cost is the estimated production cost that is involved in the projects, operation production and the administrative purposes. The standard costing uses the techniques that standardize the cost and the revenues. This is in the purpose of controlling the cost factors and the determinant through the variance analysis.
It is ...

Describe and provide specific examples of fixed, variable, and mixed costs. Why is an understanding of cost behavior critical to financial planning and profitability? Can the nature of a specific cost change over time (i.e. from fixed to variable, variable to mixed, etc.?) If so, how?
Costs are of three types: variable, fixed and mixed. Variable costs refer to those costs which vary as the level of production varies and it is in a linear fashion. A perfect example for the variable cost is the material or resources; when the cost per product is $5, as the number of products ...

Challenges of NPV and IRR

There are several challenges in using the NPV and IRR methods in capital budgeting such that experts have now recommended the use of MIRR. The IRR method assumes that the company will get positive cash flows during the life of the project. This at times may not be true especially for projects which have negative cash flows. The alternating cash flows will generate multiple answers. Secondly, the method assumes that any re-investment of cash that occurs will be at the IRR which is not realistic. The method does not tally with the results of NPV results when it comes ...