Management Accounting Assesssment - Coursework Example

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Management Accounting Assesssment

On the basis of such information, management formulates the future strategy to be followed to retain its competitiveness in the industry. In the contemporary environment, organisations are paying special attention to two main factors. The first one is associated with incorporation of continuous improvement in the operations of the organisation and the second one is monitoring the cost with help of an advanced and flexible accounting system. In this given project, both these factors will be discussed, drawing examples from Corus. At the beginning, a brief introduction about Corus will be given and later on issues associated with continues improvement and flexible costing system will be discussed. Finally, a conclusion will be drawn to summarise the information gathered in the project. About Corus Corus is the second largest steel producer in Europe with its main operations in UK and Netherlands. It is a subsidiary of Tata Steel, one among the world’s top ten steel manufacturers. ...Show more

Summary

Management Accounting Assessment Table of Contents Table of Contents 2 Introduction 3 About Corus 4 Benefit of continuous improvement in Corus 5 What is Continuous Improvement- 5 Parties involved in CI- 5 Ways to bring about an improvement- 5 Benefits of CI- 8 Traditional Costing System (TCS) v/s Activity Based Costing System (ABC) 9 Conclusion 12 Reference 13 Bibliography 14 Introduction With time, the corporate world has undergone major transformations and thus to retain the competitiveness in the industry, companies are introducing many changes…
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