Answer: Introduction The process of budgeting is to create a plan to spend the money of the organization. The systematic plan of spending the money is known as the budget (Ando 2015). The creation of the spending plan helps the organization to determine beforehand, whether there is excess money to spend after meeting the various operational costs. In a simpler term, budgeting is the balance between expenses and income of the organization...Read More
Answer: Evaluating the decision of replacement of loader truck (Situation 1): Situation 1 Particulars Not replacing Old loader Depreciation $ 25,000.0 Write off $ 0.0 Proceeds from sale $ 0.0 Depreciation of new loader $ 0.0 Operating costs $ 80,000.0 Total $ 105,000.0 The above table indicates...Read More
Answer: Advantages and Disadvantages of Activity Based Costing - TaxEzy Following are the advantages of the Activity Based Costing that is relevant to the given case of TaxEzy : In the case of activity based costing, there is an easy demarcation between the fixed and the variable cost. It is because the method includes the long run variable cost rather than bifurcating between fixed and variable cost and thus helps the company in making an...Read More
Answer: Introduction: The report is prepared by referring to a case study on a startup company manufacturing bikes of higher quality. Orange mount bikes intend to develop a new braking system to gain competitive advantage. Estimated pricing of bikes have been set by performing competitors analysis and thereby maintaining same functionality and quality level. This bike manufacturing company requires forming a team for managing design of manufa...Read More
Answer: Introduction The process of Fair Value Accounting (FVA) has been gaining popularity from most of the accounting standards all over the world for financial reporting. Among them, the International Financial Reporting Standard (IFRS) has also considered the application of FVA for the accounting of non-current assets for the Australian Security Exchange (ASX) listed companies (Zack, 2013). It implies that IFRS has allowed the application...Read More
Answer: Introduction The purpose of the report is to prepare the budgeted income statement of the ASX listed company that is Austar gold limited. The master budget along with their elements will be explained in the report. These elements of the master budget contribute effectively for preparing the accurate budget. The comparison of the top-down and bottom-up approach has been done which will help in analysing the suitable approach for the co...Read More
Answer: Qualitative analysis: The case explains that the qualitative factors of the company , it has been measured that the performance of the company is quite impressive, company has managed to meet the expected figures of the company and it expresses that the position of Lone star is quite better in the industry. However, further, the study has been done on the qualitative factors of the business to measure that whether the company has met ...Read More
Answer: Introduction In the given scenario the management of the company is to decide whether to launch the new product now, or wait for few months in order to finish up with the stock of old product. If the company continues to sell the old product following would be the profit position: Particulars Amount Selling price 2020 Direct materials costs 480 Direct labour costs 610 ...Read More
Question: Discuss about the Management Accounting for Global Reporting Standards. Answer: Potential Area of Improvement in GRI Standards The main purpose of this assessment is to analyze the Global Reporting standards which are commonly known as GRI standards. The reporting framework covers significant areas which are related to environmental, social and economical consideration. The major benefit which is associated with the ...Read More
Question: Discuss About The Bifurcation Of Costs Uniform Manufacturing. Answer: Introduction: J & B Sports is a sports uniform manufacturing concern. The present case deals with only one product segment of the firm and i.e. Jerseys. The different scenario cases of sales and costs are analyzed in the present case. Bifurcation of different costs of the business: The variable costs are those costs that changes with the change...Read More
Question: Discuss About The Enterprise Structured Into Four Businesses. Answer: Introduction As an employees of Jersey management consultancy, I was tasked with preparing a report to the CEO of George Weston Foods limited. The firm is currently reviewing its budgeting system with the CEO having an interest in the Balanced Scorecard. Having attended a seminar regarding a balanced scorecard, the CEO of the George Weston Foods requ...Read More
Question: Discuss about the Implementation in a Manufacturing Company. Answer: Introduction: The current assignment deals with the provided case study of Happy Traveller Limited, which manufactures different types of luggage like simple luggage, complex luggage and other luggage. It is involved in ascertaining its product costs with the help of both traditional costing system and activity-based costing system. The first section of t...Read More
Question: Discuss about the Research on professional responsibility and ethics in accounting. Answer: Strategic and financial implications of the firm reaching its production constraint The various types of the strategic implications need to be considered as per the development of marketing strategy which has been further considered with the factors such performing marketing analysis, targeting and positioning. Some of the other con...Read More
Question: Discuss about the Advances Professional Knowledge and the Practice. Answer: Introduction The company’s business is largely affected by the government policies and government in action. The policies introduced and implemented by the government for the betterment of the economy might not be favorable for the company as in this case also. In case there is a change in government, the new government might not continue to ...Read More
Question: Discuss about the Workplace Considerations for Members in Business. Answer: Manufacturing cost flows Cost of goods manufactured schedule Opening work in progress $ 6,20,000.00 Direct material Opening raw material inventory $ 4,86,000.00 Add: Raw material purchases &n...Read More
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