management accounting assignment help

Management Accounting Assignment Help

By EssayCorp

TABLE OF CONTENTS1. WHAT IS MANAGEMENT ?2. WHAT IS MANAGEMENT ACCOUNTING ?3. SOME TOPICS UNDER MANAGEMENT ACCOUNTING

● Product Costing● Cost Behavior● Budgeting● Capital Budgeting

4. CAPITAL BUDGETING TECHNIQUES● Internal Rate of Return● Net Present Value● Profitability Index● Payback Period● Accounting Rate of Return

TABLE OF CONTENTS

5. PRINCIPLES AND GOALS OF MANAGEMENT ACCOUNTING● CAUSALITY PRINCIPLE● ANALOGY PRINCIPLE

6. CONTACT US7. THANK YOU

WHAT IS MANAGEMENT ?

Management is about getting people to work together for the achievement of the goals and objectives of an organization.

WHAT IS MANAGEMENT ACCOUNTING ?

Management accounting is a blend of various concepts like management, finance and accounting with the important business strategies for business development.

SOME TOPICS UNDER MANAGEMENT ACCOUNTING

Some of the important topics that come under managerial accounting assignment are:

● Product Costing● Cost Behavior● Budgeting● Capital Budgeting

PRODUCT COSTING

Product cost refers to the cost used to create a product. This includes labor, consumable supplies, material and factory overhead. And product costing is used to determine the cost associated with the product.

COST BEHAVIOR

Cost behavior is related with the understanding of how cost changes with the change in organization’s level of activity. Further there are two types of costs: fixed cost and variable cost.

VARIABLE COST AND FIXED COST

Variable Cost- The cost which varies with the change in level of activity is known as variable cost.

Fixed Cost- The cost which remains unaltered by the changes in level of activity is known as fixed cost.

BUDGETING

A budget is a plan which is used as a tool which helps in deciding the activities for the future time period. And budgeting is a process of activities which are performed in order to prepare a budget. It involves estimation of future cash collections, future day to day activities and future sales of an organization.

CAPITAL BUDGETING

Capital budgeting is the process of finding the possibility of long term investment on the purchase or exchange of equipment, property plant or other projects.

CAPITAL BUDGETING TECHNIQUES

Capital budgeting consists of various techniques, some of them are:

● Internal Rate Of Return● Net Present Value● Profitability Index● Payback Period● Accounting Rate Of Return

INTERNAL RATE OF RETURN

Internal rate of return is the discount rate for which net present value becomes zero.

NET PRESENT VALUE

Net Present value or NPV is equal to the initial cash outflow excluding the sum of discounted cash inflows.

PROFITABILITY INDEX

It is commonly known as PI. Profitability Index is the ratio of the present value of future cash flow to the initial investment.

PAYBACK PERIOD

It is the period during which initial cash flow is returned by the project.

ACCOUNTING RATE OF RETURN

The total profit of the project calculated as total net income divided by average investment.

PRINCIPLES AND GOALS OF MANAGEMENT ACCOUNTING

Managerial accounting involves two accounting principles:

1. Causality Principle2. Analogy Principle

CAUSALITY PRINCIPLE

It explains the relationship between quantitative output and the input quantities that must be consumed in order to achieve the output.

ANALOGY PRINCIPLE

Analogy defines the usage of casual insights to conclude the past or future outcomes.

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