Essay on Miss

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Introduction This assignment consisted of two parts. The first part is mainly about the modern developments in management accounting, what is World Class Manufacturing will be explained at first. Then, five features that could help company become and remain world class will be given and demonstrate in detail. Another part is about the two calculation methods that using by companies when measure expenses and overheads. This will be show through the calculation process in detail for a Peppa Ltd by using the traditional costing methods and activity-based costing methods. A briefly explains will also be given on which set of calculations is most accurate. Part A World Class Manufacturing Today companies are trying hard to apply various…show more content…
Commitment to Quality (T.Q.M) (1) Definition and functions It is increasingly the case that a firm which cannot meet the external customers quality requirements will go out of business, so that the needs to conformity with quality products so become a prerequisite for staying in business. International Standardisation Organisation identifies Total Quality Management as That aspect of the overall management function that determines and implements the quality policy and, as such, is the responsibility of top management. That is to say the nature of the TQM is an approach for companies to get long-term success through customer satisfaction. Successful companies understand the powerful impact customer-defined quality can have on business. They know that once the customers do not satisfied with quality of the product they will go elsewhere and chose the product which owns better quality in other companies. As a result, the company will lose their market share more seriously, the reputation may be ruined by not manufacture to an approved quality standard. For this reason many competitive firms continually increase their quality standards. For example, both the Ford Motor Company and the Honda Motor Company have announced that they are making customer satisfaction their number one priority. The slow economy of 2003 impacted sales in the auto industry. Both firms believe that the way to rebound is through improvements in quality, and each has outlined specific changes to

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