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Management Report on Activity Based Accounting, 2002.
Discusses some of the pros, cons, advantages, disadvantages and uses for activity based accounting.
1,700 words (approx. 6.8 pages), 8 sources, APA, £ 32.95
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Abstract
This paper provides a basic introduction to ABC (Activity Based Costing) methods as a managerial accounting technique, a comparison to traditional based methods, benefits and disadvantages of ABC. The paper also includes an analysis of ABC methods as a TQM (Total Quality Management) component and provides a summary analysis of the system.
Table of Contents
Abstract
Introduction to Activity Based Accounting
Uses for ABC
Implementing ABC
Advantages of ABC Costing
Disadvantages of ABC Costing
ABC versus Traditional Accounting
The Concerns of Activity Based Management
Summary Analysis
References
From the Paper
"Activity-Based Costing (ABC) arose in the 1980s from the increasing lack of relevance of traditional cost accounting methods. The traditional cost accounting methods were designed around 1870 - 1920 and in those days industry was labor intensive, there was no automation, the product variety was small and the overhead costs in companies were generally very low compared to today. However, from the 1960s - particularly 1980s - this changed rapidly. Activity Based Costing is based on a simple principle: activities consume resources and customers consume activities. Associating the labor and overhead expenses of the business with the activities that consume those resources provides valuable facts. ABC defines categories of activity in overhead departments, which on the one hand are recognizable to overhead department managers but, on the other hand, are driven by factors (cost drivers) which are characteristic of products and other cost objects. This allows a much higher proportion of total company cost to be allocated to products according to causation. Ultimately, ABC provides accounting data points that can be used to improve decision-making and identify cost improvement opportunities. The basic building blocks for ABC are activity accounting spreadsheets for each element of a business. The workload of each activity is measured resulting in a cost per output. "
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Traditional Cost Accounting vs. Activity Based Costing, 2006.
This paper examines the pros and cons of two specific cost accounting systems: Traditional cost accounting (TCA) and activity based costing (ABC).
1,725 words (approx. 6.9 pages), 9 sources, MLA, £ 32.95
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Abstract
The writer of this paper stresses that the purpose of any cost accounting system is to provide current information about the total cost of manufacturing a product or performing a service. This paper analyzes in detail the strengths and weaknesses of traditional cost accounting (TCA) and activity base costing (ABC). TCA is a well developed method of estimating cost incurred while the ABC system is based on costs which are driven by factors other than product volume.
From the Paper
"A problem may arise in the use of actual overhead costs. The problem stems from the fact that many of the elements of manufacturing are fixed costs, rather than variable costs. Fixed costs are those that tend to remain relatively constant from month to month. Examples of fixed overhead costs include the monthly salary paid to plant managers, depreciation, property taxes, and insurance on plant assets."
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Cash-Based vs. Accrual-Based Accounting, 2002.
An examination of the advantages and disadvantages of cash accounting over accrual-based accounting.
1,394 words (approx. 5.6 pages), 2 sources, MLA, £ 27.95
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Abstract
This paper presents the basic forms and methods of accounting for cash accounting and accrual-based accounting and compares the two. It examines which form of accounting is more beneficial to specific sectors of the economy and looks at the advantages and disadvantages of each.
From the Paper
"In the cash basis of accounting, the business records are "cash in" (deposits to the bank account) called cash receipts, and "cash out" (checks) called cash disbursements. Cash receipts - Cash disbursement = Cash flow. Each month's cash flow is added to the preceding month's cash balance yielding the current month?s cash balance.
The cash basis of accounting is more likely to be used by service businesses than by retail or manufacturing businesses. Service businesses usually do not need equipment and can sell a service they perform with nothing more than their own hands and minds. Think of people who are lawyers, writers, public relations and advertising personnel, and accountants."
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Activity Based Costing, 2005.
An overview of activity based cost accounting and its benefits.
5,246 words (approx. 21.0 pages), 5 sources, MLA, £ 76.95
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Abstract
Activity Based Costing or (ABC), although not a completely new discipline within the accounting profession, is rapidly becoming one of the most popular avenues of study for business majors in the academic world. The paper shows that ABC is full of benefits, with few limiting factors and perhaps the fastest growing phase of accountancy in the world today. The spread of ABC into the European Union alone is creating fierce competition between U. S., British and German companies and foreign organizations for persons willing to go into the lucrative field.
This paper centers on ABC itself and does not go into comparative methodologies with older forms of Cost Accounting.
Paper Outline:
An Introduction to ABC
What is ABC and How Does it Work?
ABC: An Overview
Cost Drivers
ABC and the Dept. of Defense
ABC - The Navy Way
The Implementation Starting Point
Dept. of Defense - Final Recommendations for Implementation
Expanding the Concept - Another Success Story
16,000 Ideas for Change in 2 Months
Yet Another Success Story on a Grander Scale
Conclusions and Recommendations
Bibliography
From the Paper
"Early in 1994, Texas Commerce Bank launched a reengineering effort, called "Process Improvement," which included every organizational process and all 9,000 employees. Not only was the level of involvement unique, the bank structured and implemented "Process Improvement," without outside consultants. There were several goals of the program including, removing all employee frustrations associated with cumbersome policies, processes, services, or products; streamlining processes to improve quality and delivering improved service to customers and eliminating unnecessary expense."
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Activity-Based Costing, 2006.
An overview of the theory and practice behind activity-based costing.
2,583 words (approx. 10.3 pages), 6 sources, APA, £ 46.95
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Abstract
Cost accounting is the process of tracking, recording and analyzing costs associated with the activity of an organization, where cost is defined as required time or resources. Activity-based costing (ABC) is a method of allocating costs to products and services. This paper examines how the major objective of the ABC process is to objectively determine a better way of doing business. It provides examples of cost analysis and concludes that the analysis of these costs and models serves to provide the basis from which decisions can be made and evaluated.
From the Paper
"Costs can be categorized in three ways. Direct costs are those that can be traced directly to one output. For example, the material costs (varnish, wood, paint) to build a chair. Indirect costs are those that cannot be allocated to an individual output; in other words, they benefit two or more outputs, but not all outputs. An example would be maintenance costs for the saws that cut the wood, storage costs, other construction materials, and quality assurance. General & Administrative-costs cannot reasonably be associated with any particular product or service produced (overhead). These costs would remain the same no matter what output the activity produced. An example would be salaries of personnel in purchasing department, depreciation on equipment, and plant security."
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Activity-Based Cost in the Department of Defense, 2004.
This paper discusses the ABC accounting process, which evaluates and determines ways to improve the quality of financial decisions at the Department of Defense (DoD).
2,505 words (approx. 10.0 pages), 5 sources, APA, £ 44.95
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Abstract
This paper explains that the Department of Defense (DoD), with more than $1 trillion in assets and a budget that accounts for about half of the federal government?s discretionary funding, has a need for accurate accounting processes. The author points out that ABC captures quantified cost and time data and translates it into information for making decisions by measuring process and activity performance, by determining the cost of business process outputs, and by identifying opportunities to improve process efficiency and effectiveness. The paper concludes that the ultimate decision will be based on a blended action that minimizes cost and time, while creating a better outcome.
Table of Contents
Big Need for Accurate Accounting
ABC in the Military
Process Decision Example
Success Stories
NASA
Fleet and Industrial Supply Center (FISC)
Military Resistance to ABC?
Who Might Benefit in the DoD?
From the Paper
"In the 1990s, the RAND Corporation, including its defense-oriented federally funded research and development organizations, offered a better way for the DoD to pay for its purchases, one it thought would improve the interactions; after all, if a unit overspent in one year, then the next year it would be looking for lower prices. That meant that the organization it purchased from would experience a loss, or potentially could, which in turn could affect the service or product quality or delivery. However, the WCF arrangement bore the stamp of approval of the DoD Comptroller?s office, which suggested that the WCF approach has saved ?billions of dollars by providing managers with greater visibility into the costs of DoD support operations.?"
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Activity-Based Cost Accounting, 1994.
This paper discusses activity-based cost accounting: Definition, techniques, compared to traditional accounting and use in the corporation.
1,350 words (approx. 5.4 pages), 6 sources, £ 27.95
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From the Paper
"In recent years, activity-based cost (ABC) accounting has challenged traditional accounting methods as the preferred method for internal reporting. Some companies have incorporated ABC to provide external accounting reports, as well. This increase in the popularity of a relatively new technique suggests that the accounting profession as a whole and companies across the business spectrum are recognizing that ABC can offer increased benefits to those organizations willing to take the time to implement ABC systems. This research explores ABC techniques, how ABC compares to traditional accounting methods, and considers the environments where ABC can effectively be implemented."
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Accountability and User-harm In Accounting, 1989.
A focus on responsibility and regulatory issues and revision of the ethics code. Examples of user-harm resulting from accounting information.
1,350 words (approx. 5.4 pages), 10 sources, £ 27.95
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From the Paper
Introduction
" The purpose of this research is to examine harm to users of accounting information stemming directly from the use of that information. Harm to users of accounting information has resulted from instances of (1) deficiencies in generally accepted accounting procedures (GAAP), (2) inadequate performance on the part of professional accountants, and (3) outright fraud (Dingell, 1988, E2161).
Accountability in Public Accounting
An important development which is in the process of occurring in contemporary American public accounting is a change in the way in which professional public accountants are held accountable for their actions ("National Commission on Fraudulent..."
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The Financial Accounting Standards Board (FASB), 2007.
This paper evaluates the conceptual framework developed by the Financial Accounting Standards Board (FASB).
1,225 words (approx. 4.9 pages), 5 sources, APA, £ 24.95
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Abstract
This paper explains that the objectives of the FASB's conceptual framework are to identify the goals and purposes of financial reporting and their underlying fundamentals; however, it is more than two decades old and has fallen behind the times especially in the area of currency and scope. The author points out that, despite the best attempts by the FASB to provide frameworks and standards to regulate accounting practices, unethical management always seems to discover loopholes to make their accounting statements say whatever they want them to say. The paper states that principle-based standards help management work with auditors to exercise professional judgment in determining appropriate accounting; nonetheless, rules-based accounting does more to promote consistency and adherence to guidelines.
Table of Contents:
The Conceptual Framework Developed by the FASB
The Role and Ethical Considerations
Principles-Based Accounting vs. Rules-Based Accounting
From the Paper
"Some believe the solution for preventing unethical accounting conduct is to regulate as many accounting translations as possible. While closing loopholes should certainly be an objective of standards setting bodies such as FASB, unethical people will always find a new and better way to behave unethically if their corporate culture allows or encourages unethical behavior or if people behaving unethically simply believe they will not be punished for their conduct. Increasingly, accountants need to be trained in ethics in addition to improving financial skills."
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Accounting and Financial Statement Analysis, 2004.
Case study about whether to invest in Spendless Supermarkets Ltd., based on a thorough financial analysis.
3,513 words (approx. 14.1 pages), 5 sources, MLA, £ 57.95
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Abstract
This paper presents a comprehensive analysis of Spendless Supermarkets Ltd., based on detailed information of the company's revenue and expenses. The paper examines Spendless's profit and loss statement and balance sheet in order to thoroughly evaluate its financial situation and then makes a suggestion as to whether it is wise to invest in this company. The paper then looks at the advantages and disadvantages of ratio analysis as a form of financial analysis, the effectiveness of overhead allocation based on labor hours, and the effectiveness of activity-based costing.
Outline
Financial Analysis of Spendless Supermarkets Ltd. Advice on Whether to
Invest or Not
Ratio Analysis ? Advantages and Limitations
Overhead Allocation Based on Labor Hours
Activity Based Costing Description - Overview
From the Paper
"The net profit margin ratio tells the amount of net profit per $1 of turnover a business has earned. That is, after taking account of the cost of sales, the administration costs, the selling and distributions costs and all other costs, the net profit is the profit that is left, out of which they will pay interest, tax, dividends and so on. The formula is: Net Profit Margin = Net Profit / Turnover* 100 = Profit before Interest and Taxation / Turnover* 100 (Net Profit = Gross Profit ? Expenses)."
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Accounting Software, 2002.
Discusses the agrarian accounting software and its role in an internet -based business world.
2,150 words (approx. 8.6 pages), 2 sources, £ 46.95
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Abstract
This paper presents a dissension on the relevancy of agrarian based accounting software and it's relevancy in the e-commerce age.
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| Essay # 68021 |
temporarily unavailable
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Accounting, 2005.
A discussion on managerial accounting and financial accounting.
675 words (approx. 2.7 pages), 0 sources, £ 15.95
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Abstract
This paper discusses the two unique sub-functions within the accounting field: managerial accounting and financial accounting. The specific functions, responsibilities and duties of each function are discussed. Further consideration is given to the ethical implications involved with each accounting division. Enron is mentioned as a prime example of how ethical considerations can not only undermine the financial solvency of a company but, ultimately, can cause its demise.
From the Paper
"The presence of financial accountants and management accountants in most large corporations today is a testament to the complexity of the global economy, the legal and governance rules an entity must operate under, and the sheer amount of information the profession must deal with on a daily basis. Though there are many functions that overlap within these two divisions of the same profession, each classification serves a uniquely strategic function. In general, financial accounting is responsible for the historical financial records and data of a company and is largely responsible for ensuring legal and regulatory compliance. Managerial accounting is responsible for providing interpretive reports of financial accounts which managers and executives use to make operational decisions and devise corporate strategy. "
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The New Roles of Management Accounting, 2002.
Discusses how traditional management accounting is adapted to contemporary economics.
3,813 words (approx. 15.3 pages), 22 sources, APA, £ 61.95
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Abstract
This paper examines the applicability of traditional management accounting techniques in the modern market-driven environment, along with the new roles and responsibilities that are vital for thriving management accountants. The paper shows that it is imperative for management accountants to acquire critical skills, namely communication and analytical expertise, comprehensive knowledge in the area of accounting, information technology and the business and the ability to work in a team, so as to fully reap the benefits of the new advanced approaches.
Table of Contents:
1 Introduction
2 The Evolution of Management (Cost) Accounting
2.1 Single-Activity Enterprises
2.1.1 Early Nineteenth Century ? Textile Mills
2.1.2 Middle Nineteenth Century ? Railroad Companies
2.1.3 Late Nineteenth Century ? Large Retailers
2.2 Scientific Management Movement and Standard Costing
2.2.1 The Scientific Management Movement
2.2.2 The Emergence of Standard Costing
2.3 Multi-Activity Enterprises
2.3.1 Return on Investment (ROI)
3 Critique of 20th Century Management Accounting
3.1 Lack of Relevance
3.2 Cost Distortion
3.3 Inflexibility
3.4 Incompatibility with World Class Approaches
3.5 Inappropriate Links to the Financial Accounts
4 21st Century Management Accounting
4.1 The Focus of Future Management Accounting
4.2 The Role of Future Management Accounting
4.2.1 Internal Consultants or Business Analysts
4.2.2 Team Member / Leader and Advisor
4.2.3 Financial Information Specialists and Information System Designer
4.3 Critical Skill Required By Management Accountants
4.3.1 Sound Understanding of Accounting Knowledge and Skills
4.3.2 Comprehensive Understanding and Competence of Business
4.3.3 Communication Skills
4.3.4 Analytical Skills
4.3.5 Knowledge of Information Technology Systems
4.3.6 Teamwork
5 Conclusion
6 Bibliography
From the Paper
"According to a survey by the UK?s Institute of Internal Auditors (2001), communication skills are considered to be the most prized attributes of the internal accountants. The changing role and functions of management accounting entail management accountants to actively participate within cross-functional teams. Thus, it is fundamental for these professionals to possess strong communication skills, as they are required to liaise with managers and guide the firm?s strategic and tactical decisions on a daily basis (McNair, 2000). As such, communication skills are important for these professionals to communicate throughout the organization, which ranges from senior management to support staff levels, as well as vendors, competitors, and other professionals."
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