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7 pages/≈1925 words
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Harvard
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Management
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Coursework
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English (U.K.)
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LO1: Understanding of Management Accounting Systems (Coursework Sample)

Instructions:

COSTING SHEET TO BE USED FOR LEARNING OUTCOME CRITERIA LO 2; P3
Using the information below create two income statements, one to be prepared under a Marginal/Variable Costing method, and the second to be prepared under an Absorption Costing method
This covers periods 1 to 6 of the Clear Blue Waters Company
Unit Selling Price = £11
Unit Variable Cost = £5
Fixed Costs for each period = £330,000
The company produces only 1 product
Budgeted activity is expected to average 150,000 units per period.
Production and sales for each period are as follows:
Units Sold (000’s) Period 1 = 160, Period 2 = 130, Period 3 = 190, Period 4 = 160, Period 5 = 150, Period 6 = 170
Units Produced (000’s) Period 1 = 160, Period 2 = 160, Period 3 =160, Period 4 = 160, Period 5 = 180, Period 6 = 150
There were no opening inventories at the start of Period 1
Actual manufacturing fixed overhead incurred was £310,000 per Period
Non-manufacturing overheads were £110,000 per period.

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Content:


MANAGEMENT ACCOUNTING
By (name)
Course
Professor's Name
University
City (State)
Date
LO1: Understanding of Management Accounting Systems
1 Introduction
Management accounting systems remains an approach that is primarily concerned with the gathering of financial materials from different commercial procedures such as transfers in stock, deals facts, and the deviations in rough sully expenses that fluctuate over figures with the aim of inspecting information. Management accountants therefore ensure that unbiased reports that provide facts to execute are developed for the sole purpose of making critical decisions, regulating, scheduling, and measuring the performance of an organizationADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "author" : [ { "dropping-particle" : "", "family" : "Walker", "given" : "J.", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "id" : "ITEM-1", "issued" : { "date-parts" : [ [ "2011" ] ] }, "publisher" : "CIMA Publishing", "publisher-place" : "Amsterdam", "title" : "Accounting in a Nutshell : Accounting for the Non-specialist.", "type" : "book" }, "uris" : [ "http://www.mendeley.com/documents/?uuid=0c07373b-0094-43df-a2ba-19609759bd52" ] } ], "mendeley" : { "formattedCitation" : "(Walker, 2011)", "plainTextFormattedCitation" : "(Walker, 2011)", "previouslyFormattedCitation" : "(Walker, 2011)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(Walker, 2011). Management bookkeeping in this case remains apprehensive in ensuring that the administrators have the evidence required in designing and observing the appropriate courses of actions for their businesses.
* Management Accounting Systems
Management accounting systems (MAS) infers to the formal structures that provide facts to the directors and executives to aid in accomplishing the goals of an organization in generating significant worth for a company's stockholders and clients. In other words, it refers to the elements of organizations entire information structuresADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "author" : [ { "dropping-particle" : "", "family" : "M\u00e1rquez-Ramos", "given" : "L.", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" }, { "dropping-particle" : "", "family" : "Aparisi-Caudeli", "given" : "J. A.", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "container-title" : "Journal of Applied Management Accounting Research", "id" : "ITEM-1", "issue" : "2", "issued" : { "date-parts" : [ [ "2013" ] ] }, "page" : "5-27", "title" : "The Impact of Management Accounting Systems on International Markets: Theory and Evidence Using the Balanced Scorecard Approach", "type" : "article-journal", "volume" : "11" }, "uris" : [ "http://www.mendeley.com/documents/?uuid=d850695f-39b7-4e0f-a6e8-227f446aa493" ] } ], "mendeley" : { "formattedCitation" : "(M\u00e1rquez-Ramos and Aparisi-Caudeli, 2013)", "plainTextFormattedCitation" : "(M\u00e1rquez-Ramos and Aparisi-Caudeli, 2013)", "previouslyFormattedCitation" : "(M\u00e1rquez-Ramos and Aparisi-Caudeli, 2013)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(Márquez-Ramos and Aparisi-Caudeli, 2013). Systems for Management Accounting therefore concentrates mainly on an organization following or next expenses which are connected with the formation of enterprises as well as organizational goods.
* Integration of Management Accounting Systems in Organizations
The most widely used management accounting systems incorporate the element of throughput bookkeeping, c...

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