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Strategic Management Accounting in University
Finance & Accounting
Pages 12 (3012 words)
Strategic Management Accounting in University Contents 1 Introduction 3 2 Performance Indicators 3 2.1 Traditional method 4 2.2 Methods used by the university 5 2.2.1 Limitations of the current methods 7 2.3 Newer approaches 8 3 Costing 9 3.1 Service costing 9 3.1.1 Activity based costing 10 4 Budgeting techniques 11 4.1 Activity based budgeting 12 4.2 Cost reduction and zero based budgeting 12 4.3 Beyond budgeting versus better budgeting 13 5 Conclusion 13 6 Reference 15 1 Introduction Every organization whether it is a profit making organization or non-profit making organization has various vision and mission.
To achieve the organisational objectives it is very important to control the activities of the organisation. In this regard tools and techniques of management accounting can be used to control the organisational activities and direct them towards the attainment of the organisational goals. Thus strategic management accounting helps the mangers to take strategic decisions by providing useful financial and nonfinancial information. This project highlights the different segments of strategic management accounting including the performance indicators used by the University of Newland. The different management accounting techniques by the management of University of Newland have been analysed to assess the usefulness of those techniques and the other techniques which could be used in place of them which will enhance the quality of the strategic decisions. To assess the strategic position of the university the internal and external analysis has been done in order to assess the organisational and educational environment as a whole. ...
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