By Ray Proctor
Managerial Accounting teaches enterprise scholars easy methods to use accounting to make greater judgements and enhance functionality. attractive case reports and the preferred 'Manager's perspective' bins illustrate how suggestions are utilized in genuine international company events. The latter upload an additional measurement for your studying, as they're written by way of skilled practitioners of either administration and accounting. With not less than technical language and a commitment to sensible program, this renowned textual content supplies a refreshingly transparent consultant to administration accounting.
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Extra resources for Managerial Accounting: Decision Makling and Performance Management
Example text
They are much more interested in the outcome of the project over its whole life than its annual profits. Looking at The Pizza Wagon figures above, you can see that, over the whole lifetime of a business, the total of profit exactly equals the total of cash (£66,000 in this case). This principle is just as true for the many continuing businesses all around us even though it is far from obvious. 1 Try the question for yourself (answer at the end of the chapter). The Bourton Trading Company existed for four years only before being wound up.
However, its advantage is that it is easy to understand and easy to calculate. 5. The line of best fit is drawn on the graph by eye. The intersection of this line and the vertical cost axis gives the fixed cost element. This is read from the graph and should be close to £10,000. 97 Change in output gives the variable cost per unit. You may remember that the equation for a straight line is y = a + bx where a is the intersection with the vertical axis and b is the slope of the line. In this context, the fixed cost is a and the variable cost per unit is b.
She has always been able to make good pizzas and decides to capitalize on this strength. Her business will be called ‘The Pizza Wagon’ and will be run from a specially converted parcel van. The final cost of this van, including all alterations, has been quoted at £19,500. However, after three years’ heavy use she believes it will not be worth very much and, CHAP TE R 2 · TH E DIFFE RE NCE BETW EE N PROFIT A ND CASH to be on the safe side, decides to assume it will be worth nothing at all. 00 each.