Pearson Education Management Accounting for Decision Makers 13 doc

... to explore how management accounting information can be used within a business to improve the quality of managers’ decisions. We also identify the characteristics that management accounting information ... 5 Introduction to management accounting LEARNING OUTCOMES Welcome to the world of management accounting! In this introductory chapter, we examine the role of management...

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... non-financial information CHAPTER 1 INTRODUCTION TO MANAGEMENT ACCOUNTING 24 ‘ Management decisions requiring management accounting information Figure 1.9 Management accounting information is required ... features is set out in Figure 1.8. Management accounting as an information system MANAGEMENT ACCOUNTING AS AN INFORMATION SYSTEM 21 ‘ The management accounting inf...

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... tonne for processing. A market price for X is not known and no minimum price has been agreed. The management is currently engaged in discussions over the minimum price that may be charged for Product ... the cur- rent circumstances. Management wants to know the relevant cost per tonne for Product X so as to provide a basis for negotiating a profitable selling price for the pro...

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... cost for Buccaneers Ltd for next year is expected to be made up as follows: £000 Direct materials: Forming department 450 Machining department 100 Finishing department 50 Direct labour: Forming ... cost information may be used for four main purposes. Now that we have seen how full cost is deduced, let us consider in more detail how this information may be used. l Pricing and output deci...

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... E., Management Accounting, 5th edn, Prentice Hall, 2007, chapter 3. Drury, C., Management and Cost Accounting, 7th edn, Cengage Learning, 2007, chapters 3, 4 and 5. Hilton, R., Managerial Accounting, ... theoretical aspects of the subject before going on to look at some more practical issues, particu- larly the role of management accounting information in pricing decisions. Pricin...

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... repayment ––––– (131 ) (Note 2) Total payments (12) (44) (55) (46) (48) (191) Cash surplus for the month 41 13 4 16 9 (138 ) Opening balance 60 101 114 118 134 143 Closing balance 101 114 118 134 143 5 Notes: 1 ... current man- agement performance is compared with some yardstick. What is wrong with compar- ing actual performance with past performance, or the performance of others, in an...

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... a manager is informed that the performance in May was below the budgeted level, it is quite likely that the performance for June will be below target as well. Reports on the performance in May ... there are certainly other reasons that may lead actual performance to deviate from budgeted performance. Reasons for adverse variances REASONS FOR ADVERSE VARIANCES 233 We can see that, whilst...

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... undertaking a position analysis or when we are formulating plans for the future. Management What is strategic management accounting? CHAPTER 9 STRATEGIC MANAGEMENT ACCOUNTING 318 LEARNING OUTCOMES When ... strategic management accounting. l Explain how management accounting information can help a business gain a better understanding of its competitors and customers. l Des...

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... the maximum extent. p. 179 Management accounting The measuring and reporting of accounting information for the managers of a business. p. 15 Management accounting information system The system ... of accounting information to influence decisions. Relevance is regarded as a key characteristic of useful accounting information. p. 17 Relevant cost A cost that is relevant to a part...

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... 3,600 16,400 Ticket revenue at 50 per cent capacity for 20 performances: (£16,400 × 50% × 20) £164,000 Touring company ticket sales: Total revenue for each performance for a full house: £ 200 @ £22 = 4,400 500 ... relevant to reporting the productive effort for a period. This measure of effort may have only a tenuous relationship to cash flows for a period. The conventions of accou...

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