Management Accounting

Topics: Cost accounting, Costs, Cost Pages: 11 (3579 words) Published: June 26, 2013
FACULTY OF BUSINESS & MANAGEMENT

SEMESTER: MEI 2013

BBAP 2103

COURSE: BACHELOR (HONS) MANAGEMENT (BIM) (A7470)

COURSE TITLE: MANAGEMENT ACCOUNTING

MATRICULATION NO : RF179118001
IDENTITY CARD NO : RF179118
TELEPHONE NO : 0167386906
E-MAIL : vnod_86@yahoo.com
LEARNING CENTRE: SEAMEO RECSAM LEARNING CENTRE

Table of Contents

1.0 Introduction of the company

2.0 Explanation on the purposes of product cost information is required 2.1 Planning
2.2 Cost controlling
2.3 Decision making

3.0 Features of job order costing
3.1 Source documents used in job order costing system
3.1.1 Job Cost Sheet
3.1.2 Material Acquisition Form
3.1.3 Time Ticket

4.0 Description of manufacturing overheads allocation and its problems 4.1 How manufacturing overheads are allocated among different jobs 4.1.1 Direct labor hours
4.1.2 Machine hours

4.2 Main problem of using unsuitable base for overheads allocation

5.0 Summary

6.0 References

1) One of the companies that used job orders product costing system is (not needed) 2) the point for able to identify and discuss the problem of using unsuitable base is not enough, from the reading, it is only one, since this section carries a lot of mark, you can mention it cause unfair performance measurement, this will result in motivation effect to the divison manager, find some negative human effect to add on to your point

1.0 Introduction of the company

Asia Print was established in 1985. This company provides printing services in Malaysia, United States, Italy, Australia and Europe. Asia Print has 18 years of experience in the print industry and headquartered in Subang Jaya, Selangor, Malaysia with a workforce exceeding 3,000. 2000 people among workforce are professionals and balances 1000 are still under training. Further plant was established in Shenzhen, China in 1998 and Hat Yai, Thailand in 2000. Both plants are equipped with the same high quality presses, prints, bindery, post press facility and prepress used in Malaysia, United States and Europe. Asia Print invests in the latest technology, training and equipment to ensure their customers with the best possible result for their printing cards and projects. (www.asiaprint.com) Asia Print handles range of wedding and birthday cards, hard books, soft cover, children's books, brochures, catalogs, calendars and rigid boxes. Besides that, Asia Print also handles other packaging such as gift bags and high end retail packing. Asia Print unique product is wedding and birthday cards. (www.asiaprint.com)

2.0 Explanation on the purposes of product cost information Product cost information is required in all types of organization to facilitate management planning, budget preparation, cost control, setting the price and supply of information for managerial decision making process such as pricing, determination of product mix, service cost and quantity that has to be produced and performance evaluation of employees. From accounting aspects and financial reporting aspects, product cost information is required to evaluate the inventory in the balance sheet, calculate the cost of goods sold and supply information for the purpose of taxation, contract pricing and insurance claims. Asia Print management is one of the company which use product costs information to determine the product or service pricing, to assess the financial effect of adding or deleting a product, division, to evaluate a make or buy decision, and to evaluate department or division product profitability performance. During the year, managers of Asia Print use product cost information to controlling costs, manage the company’s volume of printing activity and ensure the quality of printings in order to negotiate prices with customers. (www.asiaprint.com) Three purposes for which product cost information is required are planning, cost controlling and decision making.

2.1 Planning...

References: (2932 words)
6.0 Reference
Don R. Hansen and Maryanne M. Mowen (2006). Cost Management Accounting & Control. Ohio: Thomas South Western. ISBN 0-324-00232-7.
Langfield-Smith, Kim (2009)
Blocher,Stout,Cokins,Chen: Cost Management 4e 4-6 © The McGraw-Hill Companies, Inc., 2008
OUM Module March 2011, BBP2103, MNAGEMENT ACCOUNTING: By Dnor Asma J., Nor Asma L., Junaidah H.A., Azlan Z.A., Amin a., Norazita M.A.A., Rapiah M
http://www.accountingformanagement.com/job_order_costing.htm http://lms.oum.edu.my/myvle/modules/forumnew/
Akilah Abdullah et al(1999)
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