Activity Based Accounting Assignment Help
If you are doing an activity based accounting assignment, you need to know what activity based costing is. It can be illustrated as an accounting method that is utilized to identify the activities that a firm performs. It recognizes the relation between costs, activities and products. If you need any help with your activity based accounting assignment, you can get best possible accounting assignment help from us.
Basics of Activity Based Costing System
When you are writing an activity based accounting assignment, you need to know what is cost of the product. It is defined by the sum of the costs of all activities required to manufacture and supply those to the customer.
- There is no direct cost related to production
- Activities are consumed by products/ services
- Activity based costing determines costs to products by tracing activity expenses. Each product is charged on the base on the extent to which it is used as an activity.
- The primary objective of activity based costing is to assign costs that reflect the physical dynamics of the business.
- Provides ways to allocate the costs of indirect support resources to activities, business processes, customer and products.
- It recognizes that many organizational resources are required not for physical production of units of product but to provide a board array of support activities.
Advantages of Activity Based Costing System
Our activity based accounting assignment experts state that the usage of activity based costing is especially significant to businesses that provide customized products and services. Our activity based costing assignment further state that a customized production environment requires activity based costing’s allocation of actual indirect costs to the product to identify its real cost. The activity based accounting assignment experts mention few advantages that businesses get by allocating activity based costing system.
- Activity based costing determines product cost more accurately and reliably because it focuses on the cause and effect linkage between costs and activities in the context of producing goods.
- Determines if selling price of multi-products under activity based costing is fair and precise. The reason is overheads are allocated as per the relevant cost drivers.
- Control of overheads consisting of fixed and variable become easier to determine by regulating and monitoring activities. Activity based costing is used to identify the linkage between cost and activities and thus provides opportunities to control overheads costs.
- This system provides sufficient information that is utilized to make the decisions about profitability of different product lines.
- Fair allocation of overheads occupies a considerable portion of the total cost components.
Design And Implementation of Activity Based Costing System
When you deal with an activity based costing assignment, you need to gain knowledge as to how the system takes shape and how the businesses execute the system in efficient manner. For activity based accounting assignment help, our activity based costing assignment experts explain the process of implementing the system.
- Step 1 Determine the cost objects (such as A, B, C)
- Step 2 Identify direct costs (for example direct materials, direct labor and direct expenses)
- Step 3 Finalize the cost allocations bases that must be utilized for overhead costs (such as ….of set-ups, ……of units, etc.)
- Step 4 Determine the overhead costs related to the selected bases
- Step 5 Calculate the rate per unit
- Step 6 Compute the overheads cost for allocation to products
- Step 7 Figure the cost of products
Here our activity based accounting assignment experts make you aware of the areas where the activity based costing system should be engineered.
- High overheads
- Product diversity or multiple products
- Customer diversity
- Service diversity
- Stiff competition
If you want to gain detailed knowledge on these areas to make your activity based accounting assignment services more effective, our activity based costing assignment experts can provide the best possible accounting assignment help.
Definition of activity drive
Our activity based accounting assignment experts describe the responsibilities of an activity driver. The activity driver is used to determine the linkage between activities and cost objects, such as products, customers. The activity driver is chosen based on the subjective trade-off between accuracy and cost of measurement. You can gain detailed knowledge on this particular subject by taking activity based accounting assignment help online from us.
Level of activities involved in accounting-based costing system
Our activity based accounting assignment experts explain several levels of activities that companies need to participate while implementing activity based costing system.
- Unit level activities: These involve the costs of direct materials, direct labor and machine maintenance.
- Batch level activities: These are costs incurred every time a group (batch) of units is produced such as purchase orders, machine setup and quality tests.
- Product-line activities: These encompass the engineering changes made on the assembly line, product design changes and warehousing and storage costs of each product line.
- Facility support activities: These are cost relating to the activities which are administrative in nature. For example, building depreciation, property taxes, plant security, outside landscape and maintenance, insurance accounting and support staff’s salaries.
Acquire and use material for containers
Acquire and use material for baby-care products
No. of Containers
No. of products
Set up manually controlled by machines
Set up computers controlled by machines
No. of batches of containers
No. of batches of B. Product
Design and manufacture moulds
Use manually controlled machines
Use computer-controlled machines
No. of moulds required
Product type (containers)
Product type (B.Products)
Consider customer opinions
Provide warehousing for customers
No. of consultations
No. of cubic feet
Salaries of the employees
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Trending Topics That We Cover in Our Activity Based Accounting Assignment Help
Activity-based accounting assignment comes with a lot of stringencies and topic-based priorities from time to time. Unless one would get the hang of the given topic and referential elements associated with the same, things won’t turn out to be favorable and academically enriching down the road. Now that you are stuck with a convoluted topic and wondering if anyone can back you up with activity-based accounting assignment help online, take a look here. We, at MyAssignmenthelp.com are available round the clock are available to back you up with each of the following topics and beyond.
Financial Accounting Theory
- Exploring the correlation among revenue, expenses, assets and liabilities
- What are the three main areas of financial accounting theory?
- What are the key components of assets and liabilities? Elaborate on this topic, based on examples
- What are the “Whys” of Financial Accounting Theory?
- Elaborate on the significance and application of Financial Accounting Theory?
- Come up with a detailed overview of Managerial Finance
- Elaborate on the key components of Financial Statement and Ratio Analysis
- What is Working Capital Management? Explain with relevant examples
- What are the key components of International Financial Management?
- What are the primary elements of assessing a Capital Structure?
Activity-based cost accounting
- What are some good examples of activity-based cost accounting?
- What are the activities of cost accounting?
- What do you understand by time-driven activity-based costing?
- What are the key activity-based management modelling components?
- What are the four levels of activity in activity-based cost accounting?
- Elaborate on the five primary components of cost accounting?
- What do you mean by job order costing in CA?
- Explain and elaborate on the real-life application of Cost Accounting?
- What are the different approaches of Cost Accounting? Explain with examples
- What are the three variants of Cost Accounting? Explain with relevant examples
- Elaborate on the concepts and applications of accumulated earnings
- What is Corporate Alternative Minimum Tax? Explain with examples
- What are environmental taxes? Elaborate on the same with examples
- Talk about the key concepts behind custom duties and energy taxation
- What is asset taxation? Explain with elaborative examples
- What are long-term decisions in managerial accounting?
- What is Working Capital Management in Managerial accounting?
- What are the three pillars of Managerial Accounting? Explain with relevant examples
- What are the five trends in Managerial Accounting?
- What are the four key areas in Managerial Accounting?
- Elaborate on the contextual nitty-gritty of Fraud Detection and Prevention
- How to go about the process of mitigating corporate misconduct?
- What is auditing and investigative forensic accounting?
- Elaborate on the nitty-gritty concepts of financial statement analysis and valuation
- The role of Forensic Accounting in combatting bribery and corruption
- What are the five principles of Business Costing?
- The inception of business costing and its key functional areas
- What are direct costing, by-products and joint products?
- What are the four types of costs in business costing?
- What are the key concepts behind Target Costing, Costing for Service Sector, Contract Costing and Activity-based Costing?
- What are the key fundamentals of Target Costing? Explain with relevant examples
- What are the key advantages of Target Costing in today’s world?
- Explain and elaborate on the key fundamentals of market-driven Target costing?
- What are the essential steps involved in Target Costing?
- What are the main objectives behind Target Costing?
While this is only a glimpse of the broader dimension and key essentialities of Activity-based accounting assignment help, we are here to back you up with activity-based accounting assignment help across more of such topics as mentioned above. So, without much ado, simply connect with us during any time of the day and allow our in-house experts to back you up with comprehensive academic assistance on the go.
Challenges Faced While Implementing Activity-Based Costing System
After the reading the above information offered by our activity-based costing assignment experts, you must have understand how activity-based costing system is executed along with various activities. Here our activity-based accounting assignment tutors give the knowledge of what challenges businesses may counter while implementing the process of activity-based costing. This way you can give detailed information in activity-based costing system assignment. Our activity-based accounting assignment writers are always there to help you out.
- The higher management must approve the initial plans for implementing activity-based costing system. The job starts with making inquiries from employees.
- The design and implementation of activity-based costing system should be taken care by a cross-functional team of technicians. Generally, the team involves the representatives of accounting, finance, IT, marketing, production and engineering departments.
- The consultant, who takes care of the activity-based costing services, must be hired in order to prevent the wastage of resources and time.
- Selection of activity-based costing software that could implement and initiate the processing of the system should be made upon expert advice.
Indicators of need for activity based costing
Our activity based accounting assignment writers define few indicators that point whether there is a need for activity based costing system implementation. You can opt for activity based accounting assignment help online from the experts to get detailed knowledge. The activity based costing system should be employed when,
- Direct labor is a small percentage of total costs
- Product-line profit margins are hard to explain
- Sales are increasing, but profits are declining
- Line managers do not support the product costs reports
- Marketing team does not use cost reports for making pricing decisions
- Some products that have reported high-profit margins are not sold by competitors.
Limitations of activities based costing
Our activity based accounting assignment experts indicate some limitations on activity based costing that the businesses counter. These are as follows below:
- Difficult to identify the overall activities that influence costs
- Not easy to select the most suitable cost drive
- Difficult to evaluate the cost on the basis of activities
- Not suitable for small manufacturing concerns
But this should be remembered that when you are dealing with an activity based accounting assignment, you need to give theoretical information along with calculations. So only an activity based costing system assignment expert can help you in this regard.
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Most Popular Questions Searched By Students
Q.1 How to write an activity based accounting assignment?
Here is the order in which you can work on your activity-based accounting assignment:
- Understand the cost of the subject
- Identify the direct cost of the product, like direct labour, direct expenses, etc.
- Finalise the cost allocations based on overhead cost
- Decide the overhead costs
- Calculate the rate per unit of the overhead costs
- Calculate the overhead cost of product allocation
- Find out the cost of products
Q.2 Can I get instant activity based accounting assignment help?
Yes, you can receive instant activity based accounting assignment help if you want. At MyAssignmenthelp.com, we offer activity based accounting assignment help within hours of order placement. So, seek our help without any worry and never miss your deadline.
Q.3 What is the main objective of activity based costing?
Activity-based costing primarily aims to assign specific resources to every object. And to gain a better knowledge of the objective of activity-based costing, you can hire our experts to do my activity based accounting assignment from MyAssignmenthelp.com. Our experts are well-versed in activity-based topics and thus can offer you accurate assistance.
Q.4 Why is activity based costing important?
Activity-based costing is important because it helps increase cost data reliability. Therefore, one can easily assess the company's actual costs during the production process. However, if you want to know more about the importance of activity-based costing, seek help from MyAssignmenthelp.com. Our helpers have worked with top companies as their accounts heads.
Q.5 In how much time can I get my activity based accounting assignment?
MyAssignmenthelp.com can offer you activity based accounting assignment help and return your paper within 6 hours of order placement. Our experts work in a team, and thus, they can return your paper within such a short time.
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