StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Assignment example - Management and Accounting

Only on StudentShare
High school
Finance & Accounting
Pages 9 (2259 words)
To: The Managing Director From: A.M. Project Manager Subject: Budget Analysis of Famished! Limited Date: Report Table of Contents 1.0 Terms of reference 2.0 Budgeting 3.0 Ratio analysis 4.0 Breakeven analysis 5.0 Sensitivity analysis 6.0 Conclusion Appendices References 1.0 Terms of reference This report provides various budgets for the first year of operations of Famished Ltd…

Extract of sample

Breakeven analysis of the results has also been prepared to determine the volume of sales at which the company will be able to cover its fixed costs. There are a number of financial tools and techniques available to assist business managers to monitor and control their operations. They include budgeting, ratio analysis, breakeven analysis and sensitivity analysis. 2.0 Budgeting Budgets are useful methods of monitoring and controlling costs and organisations prepare a number of them in order to monitor and control expenditure. They include revenue budget, material budget, labour budget, cash budget, budgeted income statement, and budgeted financial statements. The revenue budget is normally the first budget to be prepared. The revenue requirements are determined and a forecast is done of the revenues that the company will generate over a period and when the actual amounts will be received (See Appendix A). The material budget and the labour budget is then prepared based on the information in the revenue budget. These budgets indicate the cost of materials that are required in each period in order to achieve the targeted revenues. ...
Download paper
Not exactly what you need?

Related papers

Management Accounting
Available at: . Anderson, DR, Sweeny, DJ, Williams, TA & Martin, RK 2007, An introduction to management science: Quantitative approaches to decision making, 12th edn, Cengage Learning. This book is quite helpful in the field of management accounting and the quantitative perspectives in decision making. The book has a great deal…
10 pages (2510 words)
Management Accounting --
Fred Fiedler was the person who first came up with contingency management. In terms of implementing a new management accounting system or technique, contingency management must be taken into account because the business organisation may need to adapt its business operations depending what issues or challenges that come up. A business manager can use contingency management to listen to the…
3 pages (753 words)
Financial Management and Accounting
69). Such facilities are licensed under state regulatory bodies with approval of either Medicare or Medicaid, or both of them, and can be a simple facility or a complex one under corporate management. The facility’s main purpose is to offer care services to people who cannot maintain sufficient self-care at home, such as the physically challenged, those who are mentally incapacitated and…
3 pages (753 words)
management accounting
17), management invented modern business. Early forms of management accounting integrated both decision-making and analysis, going beyond financial and operational performance data. Chandler stated that before managerial, there was no equivalent of the modem multi-unit organization as there was nothing remotely like the divisional Wed corporation (Chandler 1977, pg.18). Chandler states that the…
6 pages (1506 words)
Financial Management and Accounting
In general terms, funding for medical institutions such as SUNY Downstate can come from various sources and that it also depends on the type of services provided. But the main source of income is of course its patrons - those individuals that receive and purchase its services: students, organizations and patients. For example, its academic institution has 1,751 students and 1,049 residents. The…
3 pages (753 words)
external and internal factors. These factors have redefined how management practices or functions are performed across business organizations. In the writings by Burgstahler et al. (2007), they stated that the transformations have largely affected the decision making process since there is a change in the management structure, which has integrated new roles as well as position holders. In…
10 pages (2510 words)
management accounting
This is because it is used to refer to a variety of issues in an economy. For example, a free market economy is used to refer to a market whereby there isn’t any government regulation (Atrill and Mclaney, 2012). In other circumstances, a free market economy refers to a market where by the prices of goods and services are controlled by the laws of supply and demand. A free market economy can also…
3 pages (753 words)