Management Accounting

cognizant of the fact that the choices he makes can affect the price a buyer pays

The reason that Huffman Trucking uses the business structure that they have is to maintain the solid structure of the employment, and maintain the growth of the business in the industry of logistics. Huffman Trucking is a company that prides themselves on the idea that taking care of the employees will help the employees will take care of the customers, and the revenues from the customers will help the business and the stock and stakeholders maintain their edge. Huffman Trucking is a leader in the industry of logistics, and is one of the larger corporations that are in operation. The contracts that Huffman Trucking has are strong stable contracts that will help the vision and mission of the company to be successful in the completion and achievement of the goals that they set for the organization. Huffman Trucking has a strong foundation and the future of the organization is solid with the contracts that are in place from years to come. The services that Huffman Trucking offers to its customers are services that can

8. (TCO 3) The Marinade Department began the period with 150,000 units. During the period the department received another 180,000 units from the prior department and at the end of the period 112,000 units remained which were 17% complete. How much are equivalent units in The Marinade Department’s work in process inventory at the end of the period? (Points : 2)

19. The accounting assumption that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the:

BUS 322.D1 – FALL 2012 INTERMEDIATE MANAGERIAL ACCOUNTING Tuesday, 11:30-14:20 (BLU 10021) Instructor Office Phone Email : : : : Tota Panggabean, BSc., MSF., MSEc. WMC 3353 (778)782.3563 tpanggab@sfu.ca Office hours : M 10.00-12.00 W 10.00-14.30 Or by appointment Toan Le WMC 3381 M: 14.00-15.30

Part II.  Refer to the latest annual financial statements for the two following companies: Apple:

Company operates in the Industrial Sector – Services, and Industry – Regional Airlines. According to the Standard Industrial Classification System (SIC), company belongs to the industry group 451: Air

It is however important to reevaluate this decision the following year because Pittman is a growing company and its sales levels would most likely increase. If, and when, the sales

2. Adams Company sells a single product. The product sells for $100 per unit. The company’s variable

All businesses have a large amount of stakeholders. Pauline (2013) defined that stakeholder is a general term to indicate all those who might have a legitimate interest in receiving financial information about a business because they have a ‘stake’ in it. All stakeholders must need accounting information to help them making better decision. Most of the businesses have provided different sort of accounting information like balance sheet and income statement. However, no all the stakeholders need the same information and the purpose is different. Therefore, the main question is what information is required and the proper use of the information. In the following of the passage, it will discuss about the question from different stakeholders.

It should be based on fundamental truths that are derived from the laws of nature.

1a. Management Accounting is a portion of the total information system in a business or an organization. (p.22) Management accounting as well as other forms of accounting is concerned with the collecting and analysing financial information and then communicating the information to the people in charge of the decision-making. (p.16) Its features are the identification, recording, analysis and reporting of information.

Management accounting is the process of producing management reports and accounts which provide accurate and timely information for the use of internal parties within an organisation, such as departmental managers or chief executive officers. The information collected and produced include financial aspects such as amount of cash in hand, capital, liabilities, recent sales revenues, cost of production and also non-financial aspects such as employee’s performances or efficiency of production. In this era of globalisation and increased competition, firms and companies are starting to look beyond management accounting to run a business, that is by forming strategies. Strategy can be defined by an idea to ‘produce long term plans for the

Modifications of management accounting in the current changing environment in the country (mode of production and business complexity.)

Managerial accounting is helpful to the managers in of identifying, measuring, analyzing, interpreting and communicating information for the pursuit of organization’s goals. It contrast with financial accounting in that later is aimed to provide information to external user of accounting information while managerial accounting it’s aimed at helping the mangers to make decision in the organization.