Managerial Functions Essay

ASA University Assessment, Vol. some No . one particular, January–June, 2010

Management Accounting Practices: A Comparative Examination of Manufacturing and Service Industrial sectors Farjana Yeshmin* Rehana Fowzia* Abstract

The research aims to examine the use of the management accounting techniques in manufacturing and service sectors of Bangladesh for discharging managerial functions. To achieve this aim, 151 organizations from making and support industries have been completely surveyed using a structured questionnaire by using your five point Likert scale. By identifying just fourteen management accounting techniques, three factors have been identified to look for the variability's from the usage level in managerial functions. The total variabilities in application of administration accounting techniques in managerial features of manufacturing and service industrial sectors, 73. 343 % and 54. 396% respectively. The findings expose that administration accounting tactics such as financial statement examination, budgetary control, CVP research, variance research and account flow examination are common 16 both the industrial sectors and are applied frequently in managerial capabilities.

Keywords: Managing Accounting Methods, Quantitative Methods, Qualitative Methods, Manufacturing Sector, Service Industry, Managerial Features.

Introduction

Administration accounting can be described as technique of presenting accounting information towards the various amounts of management to be able to enable this to perform its functions of planning, control and decisionmaking more efficiently. By simply conveying relevant accounting data in time and at less cost, the managing accounting system assists supervision in the formulation of insurance plan, efficient execution of the same, charge of performance and decision-making (Iyengar, 2000). Bureaucratic accounting is relevant to many actions of managers. Managers develop strategies for obtaining goals, assess the performance of workers and other managers and make decisions. Managers make a decision the prices to be charged for his or her products, whether to continue selling particular companies whether to make a new factory. Many activities performed simply by managers should do with purchasing and using economic assets (money, people, machinery, buildings) and managers need details to make those decisions. Administration accounting applies to businesses as it deals with economical information and businesses search for profits and other economic goals. Managerial accounting also is applicable to organizations which often not seek profitsgovernment devices, universities, clinics and chapels – since those organizations, like businesses, use monetary resources to achieve their goals. Hence, an awareness of the ideas of managerial accounting is important to managers in any organization (Louderback and Holmen, 2003). *

Associate Professeor, Discipline of Accounting, Dept. of Business Supervision, Stamford University or college Bangladesh

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ASA College or university Review, Vol. 4 No . 1, January–June, 2010

In the past, managerial accountancy firm were generally engaged in price accounting- collecting and reporting costs to management. Lately that part has changed significantly. First, because the business environment has become more automated, techniques to determine the amount and form of cost in a product have changed. Second, managerial accountants are now held responsible for strategic cost supervision, that is helping in analyzing how well the company can be employing its resources. As a result, managerial accountancy firm now act as team members together with personnel by production, advertising engineering when ever critical tactical decisions will be being made (Weygandt et al, 2008). The last two decades have been completely a period of wrenching alter for many businesses and their staff. Many managers have learned that cherished methods of doing business will not work any more and that significant changes has to be made about how organizations will be managed and just how work gets done. These changes are so great that some observers view all of them...

References: ASA University Review, Vol. 5 No . one particular, January–June, 2010

Activity Primarily based Costing

Theory of Constraints (TOC)

Activity-based costing (ABC) developed to supply more accurate methods of assigning the expense of roundabout and support resources to activities, organization processes, items, services, and customers (Kaplan and Atkinson, 2001)



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