The Managerial Accounting process in General Electric Inc.

The Managerial Accounting process in General Electric Inc. Term Paper example
College
Term Paper
Finance & Accounting
Pages 13 (3263 words)
Download 0
The managerial accounting process in general electric inc. Name of the Student: Name of the University: Date: Table of Contents Section I 3 Section II 4 General Electric 4 Section III 7 Activity based costing 7 Section IV 9 Standard Cost 9 Standard Costing 9 Establishments of Standard cost 10 Benefits of Standard Costing in General Electric 11 Section V 13 Benefits of Relevant cost 13 Section VI 14 Conclusion 14 Section I Managerial accounting practices have undergone a drastic change over the last few decades…

Introduction

Managerial accounting process provides financial as well as non-financial information to the managers and other internal decision makers of an organization. In other words, it ensures effective planning and controlling of operations thereby supporting the decision making process. Planning of operations primarily involves the budgeting process. It is associated with the cost of producing a unit of product. Thereafter, the actual performance of the firm is compared along with the budgeted amounts and controlling occurs in those sectors where the difference seems to be significant (CSN, 2011). Simultaneously, along with the development of managerial accounting principles the traditional accounting system also witnessed a rapid development. However, there are good numbers of firms which are still following the traditional accounting system. But with the increasing global competition and evolution of technologies, production oriented operations are becoming more and more complex. ...
Download paper
Not exactly what you need?

Related papers

Managerial Accounting
This money would be classified as cash until the salaries are actually paid. At that point, salaries would come upon a specific salary section on the balance sheet or may even be considered a business expense and taken of the balance sheet altogether. 2) a) The predetermined overhead rate for the year is $5 per direct labor hour. (Manufacturing Overhead/ Direct Labor-hours) ($80,000/ 16,000) = $5…
Managerial Accounting
The balanced scorecard method comprises of four different perspectives like, customer perspectives, financial perspectives, innovation and learning perspective and lastly the internal business process perspective. By the implementation of these perspectives the balance scorecard captures the lagging and the leading indicators which gives a balanced notion over the performance of the organisation.…
General Electric
Bond Rating GE lost its AAA rating during the financial crisis in 2008. But good quarterly results have brought back the preference for GE bonds. The company currently enjoys long term rating of Aa2 for its bonds as declared by Moody's recently (Moody's 2011). GE Bonds Compared with Siemens and ABB When compared with similar companies such as Siemens and ABB in the similar industrial group…
Finance - Managerial Accounting
Hence, managers can influence organizations’ cost behavior to a great extent. This paper will discuss capacity costs, committed fixed costs, and discretionary fixed costs in detail with reference to their current and future impact on business or society. Capacity costs Capacity costs can be simply referred to the fixed costs required for achieving predetermined level of production or meeting…
Investment Portfolio Project-Disney & General Electric
The first, second, and third quarter performance of common stock on the high side in 2011 relatively to 2010 is quite satisfactory, as in the 1st quarter it was $18.94, which touched a high of $21.65 in the year 2011. Dividend for all the quarters of 2011 relatively has been better than it was announced for the year 2010. For example, it was $0.14 in 2010 in the fourth quarter, which reached to $…
Managerial Accounting Final Report
This paper offers managerial accounting report based on an entity’s costing accounting data and recommends improvements to the firm. The scope of management accounting incorporates financial accounting concepts, cost accounting concepts, and statistical concepts to develop an understanding of a business environment towards informed managerial decisions. Cost accounting offers data on costs and…
Managerial Accounting
Initially, they started off with producing high quality record players which attracted customers belonging to a certain age group but gradually they shifted into producing technologically advanced products such as CD players, MP3 players and USB turntable. This helped the company to reach a wider customer base, rather only a younger one. This indicates that their primary strategy was to achieve a…