SLP 1- Introduction to Managerial Accounting - Essay Example

Free

Extract of sample
SLP 1- Introduction to Managerial Accounting

Walmart is one of the largest retail outlets' operator, operating approximately ten thousand stores in 27 different countries. The paper emphasize on the role of management accounting in multinational companies. Introduction to Management Accounting Management Accounting Management accounting is a branch of accounting, which collects information about a company's overall management mannerisms and suggests specific measures to promote further reformation. Among other things, the roles of management include planning, controlling, leading, organizing, staffing and decision making. In order to plan and implement any decision management needs a set of data, facts, analysis and reports; management accounting helps them collect it (Drury, 2004). Wal-Mart Inc. is the operator of a large number of stores worldwide. It operates around 27 different countries under three distinct banners. (Walmart Corporate Website, 2012) The role of management at Walmart is more diverse since they need to control multicultural organizations and plan for their future investments. Management accounting plays an important role at multinational organizations like Walmart. Following is the ways through which the management at Walmart utilizes the management accounting concepts: 1. ...
Download paper

Summary

Introduction to Management Accounting University Name: Abstract This paper is about management accounting (also known as cost accounting) and its use in planning and controlling the operations and results at Walmart. Management Accounting strives to fulfill the requirement of management and helps them make critical decisions, rather than following a set standard for reporting to stakeholders…
Author : gmurazik
Download 0

Related Essays

Managerial Accounting
This money would be classified as cash until the salaries are actually paid. At that point, salaries would come upon a specific salary section on the balance sheet or may even be considered a business expense and taken of the balance sheet altogether. 2) a) The predetermined overhead rate for the year is $5 per direct labor hour. (Manufacturing Overhead/ Direct Labor-hours) ($80,000/ 16,000) = $5 per direct labor hour. b) The amount of overhead charged to jobs during the year is $75,000. (Actual direct labor-hours * Predetermined overhead rate) (15,000 * $5) = $75,000 c) The amount of...
4 pages (1004 words) Essay
Managerial Accounting
The balanced scorecard method comprises of four different perspectives like, customer perspectives, financial perspectives, innovation and learning perspective and lastly the internal business process perspective. By the implementation of these perspectives the balance scorecard captures the lagging and the leading indicators which gives a balanced notion over the performance of the organisation. The leading indicators of the organisation measure the development of a new product, timely delivery of the product, satisfaction of the customer, competency of the employee, etc. However, under the...
7 pages (1757 words) Essay
Finance - Managerial Accounting
Hence, managers can influence organizations’ cost behavior to a great extent. This paper will discuss capacity costs, committed fixed costs, and discretionary fixed costs in detail with reference to their current and future impact on business or society. Capacity costs Capacity costs can be simply referred to the fixed costs required for achieving predetermined level of production or meeting desired level of customer satisfaction without compromising product quality. Generally companies infrequently make strategic or capacity decisions because this process is highly complex and time...
3 pages (753 words) Essay
introduction to managerial accounting
Fixed expenses divided by the CM ratio calculates breakeven in terms of dollars. The profit of a company at the breakeven point is cero dollars (Peavler). Hacker Gulf has variable costs of $40 ($28 + $12) per unit. The monthly fixed expenses of the company are $24,000 per month. The fixed expenses of the company yearly are $288,000. The current sales price of the company is $70 per gulf club. The calculations below show the current breakeven point of the company in units and dollars. Fixed costs = 288000 Sales = 70 Variable cost = 40 Contribution margin = (70 – 40) = 30 Breakeven in units =...
3 pages (753 words) Case Study
Managerial Accounting Final Report
This paper offers managerial accounting report based on an entity’s costing accounting data and recommends improvements to the firm. The scope of management accounting incorporates financial accounting concepts, cost accounting concepts, and statistical concepts to develop an understanding of a business environment towards informed managerial decisions. Cost accounting offers data on costs and facilitates analysis for cost control or cost based decisions (Bhattacharyya 2). The management approach’s ability to use existing data for forecasting and planning identifies its significance to...
6 pages (1506 words) Essay
Managerial Accounting
Initially, they started off with producing high quality record players which attracted customers belonging to a certain age group but gradually they shifted into producing technologically advanced products such as CD players, MP3 players and USB turntable. This helped the company to reach a wider customer base, rather only a younger one. This indicates that their primary strategy was to achieve a higher level of customer satisfaction. In addition to that, GEK’s leaders followed a team or sound style of leadership strategy which was concerned with both the production and employees (Zeidan...
7 pages (1757 words) Essay
Managerial and Cost Accounting
This is because managerial accounting provides information and reports that may be used by organizations to identify areas within the organization that need additional investigation and examination. Managers use information provided by managerial accounting such as budgets to make decisions and plans. The information provided by managerial accounting can be used by managers to solve problems. Therefore, managers can use such information to develop alternatives to issues arising from budgets and production changes. Managerial accounting information is used by managers to make estimations of...
9 pages (2259 words) Assignment
Got a tricky question? Receive an answer from students like you! Try us!