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The assignment - Background information - You are the financial director of a large, ficticious company called Manac plc, which
Finance & Accounting
Pages 10 (2510 words)
Finance and Accounting Table of Contents Introduction 3 Models and Concepts on Pricing Decision 3 Role of Standard Costing and Variance Analysis in Management Accounting 5 Activity Based Costing System: Advantages and Disadvantages 5 Advantages 6 Disadvantages 6 Evaluation and Analysis 7 Conclusion 8 References 9 Introduction A company whether large or small, has to deal with different type of issues.
The target profit of the company is not being achieved and as a result of that it is impacting the entire organization. The company has also adopted several cost cutting methods, which impacted the production and reduced competitive advantage of the firm. The report will mainly focus on three areas of strategic management accounting. In the first part, it will mainly emphasize on the models and concepts on pricing decision. In the second part, the study will primarily focus on role of standard costing and variance analysis in management accounting. The third part is about uncovering the pros and cons of activity based costing. The report will then conduct an in depth analysis of the strategic management accounting. On the basis of that a conclusion will be drawn and some recommendations will be made. Models and Concepts on Pricing Decision The organization is currently dealing or facing challenge pertaining to the issue of profit maximization. The problem is that company is not achieving its target profit. According to several authors, maximization of profit is only possible only when the organizations are able to implement the models and concepts used in pricing decision. ...
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