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Finance and Accounting Essay: An analisys of Management Accounting
Finance & Accounting
Pages 12 (3012 words)
Finance and Accounting From, The Financial Director Manac Plc, United Kingdom. To, The Board of Directors. Manac Plc, United Kingdom. Sir, Sub: The real reason for the lower than expected profits of the company. And also various models to identify those areas which have not met budgeted expectations.
So, this report includes various models and concepts affecting the pricing decisions, the role of standard costing and variance analysis in management accounting and “the advantages and disadvantages of introducing an Activity Based Costing system to replace the current Absorption Costing system” (The Models and Concepts Affecting the Pricing Decisions Taken by Organizations, Critically Reflecting Upon Their Usefulness 2011). i. The models and concepts affecting the pricing decisions taken by organizations, critically reflecting upon their usefulness. The price variable is the one of the significant ingredients in marketing mix of the organization. Price itself can effectively communicate with the consumers regarding the product or service. So, “when the pricing decision is made, the organization must consider several factors. These factors” (Chapter Eight – How is the Pricing Decision Made? n.d., p. 1) such factor includes, Regulation of government, Perceptions in the market, supply, desired pricing position of the organization, demand and finally Competitors and Competition pricing policies. The final price of any product or service is influenced by various factors; these can be summarized into two that are internal and external factors. Internal Factors – Internal factors are those which are controllable by the organization and also, if required, it can be altered. ...
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