The Managerial Accounting process in General Electric Inc. - Term Paper Example

Only on StudentShare

Extract of sample
The Managerial Accounting process in General Electric Inc.

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. ...Show more

Summary

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…
Author : kennethkunze
Save Your Time for More Important Things
Let us write or edit the term paper on your topic
"The Managerial Accounting process in General Electric Inc."
with a personal 20% discount.
Grab the best paper

Related Essays

Managerial Accounting
In order to remedy this situation, a company would likely use short-term loans to pay employees what they are owed. This would then take wages and salaries out of liabilities and replace them with debt. On the other hand, it is sometimes possible that a company has money to pay their employees before they actually have to do so.
4 pages (1000 words) Essay
Managerial Accounting
A performance measurement system enables an organisation in measuring, controlling and planning the performance of the organisation based on its pre-defined strategy. One of the tools for measurement of the performance of the organisation is the balanced scorecard method.
7 pages (1750 words) Essay
Financial Analysis of Custom Snowboards Inc
The company showed growth in their 13th year with an increase in Sales Moreover, the administrative expenses of the company constitute less than 20% of sales showing that the company is operating efficiently and the selling expenses are also in the range of 10% of sales continuously during all these years.
7 pages (1750 words) Term Paper
General Electric
(Harris, A. & Catts, T. 2011) All these bond offerings are spread to different maturities with different coupon rates attached to it. The company has offered $1.75 billion at 2.1 percent with 3-year notes yielding 1.1 percent more than comparable treasuries and $2 billion is offered at 4.625 percent with 10-year notes.
3 pages (750 words) Essay
Finance - Managerial Accounting
The Institute of Management Accountants has defined managerial accounting as “the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources” (qtd in Davis & Davis, 3).
3 pages (750 words) Essay
Investment Portfolio Project-Disney & General Electric
As per the GE Annual report for 2011, the Company’s market information related to Common Stock can be availed from the New York Stock Exchange, which is its leading market besides the London Stock Exchange, and Euronext Paris (GE Annual Report, 2011). Comparing the stock market price of 2011 with that of 2010, one finds the performance on the stock market very convincing.
3 pages (750 words) Essay
Managerial Accounting Final Report
Information such as amount of resources that are necessary for production and the rate at which they can be absorbed is for example instrumental to ensuring continuous production besides efficient determination and allocation of costs. Efficient costing also helps organizations to set competitive prices that can also allow for sustainable profit margins and managerial accounting plays an important role in offering necessary information to managements and facilitating the managements’ application of accounting information in making decisions.
6 pages (1500 words) Essay
Managerial Accounting
Having studied the case study thoroughly, it can be said that GEK’s competitive strategy is growth oriented. They laid emphasis on producing prestigious audio products thereby setting a high benchmark for performance, reliability and service. The company kept their product line updated according to the development of new technologies.
7 pages (1750 words) Essay
Statements of Financial Accounting Standards (SFAS) 116 and 117; sample Executive Summary
Contributions made are treated as expenses while those received are treated as income for the organization. SFAS 116 describes the approach used for allotting of contributions some of which imposes conditions to the beneficiaries (McCarthy et al., 2012). There are
1 pages (250 words) Assignment
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT