MANAGEMENT ACCOUNTING COSTING AND BUDGETING.
HND IN BUSSINESS MANGMENT
Indivdual Assigment [Ilzam Ilyas/BM43/09]

Executive Summery

This report describes Managing accounting costing and budgeting to an organization of both current and future business. Effective information and knowledge can be gained by an organization if they have a clear understanding about their costing and budgeting flow.

There are four learning outcomes that have been talked in this report. The learning outcome 1 speaks about the types of costing that organization has to bear and it shows with the relevant examples. It also calculates cost and the price and found the net profit of the given statement using different costing methods.

The learning outcome 3 explains the purpose of budgeting advantages and disadvantages and some other types of budgets and calculated the cash budget statement of the company.

Further, in learning outcome 2 and 4 of the assignment, the way company “Cosmo” that makes and sell products is clearly described using variance as its method of controlling and coordinating their labors. Moreover, existing approach of Variance by the “Cosmo” organization has highlighted with the recommendation to improve their performance next year with all the calculations process is identified and discussed.

Acknowledgment

"I would like to thank our Management Accounting Costing and Budgeting lecturer Mr. Anurudha Yapa for giving us this opportunity to take over this assignment and giving us the fullest support and corporation to complete this assignment. He guided us at our difficult times, motivating and pointing out our mistakes to make the assignment a success. I have got a good experience by doing this assignment.
I have done my best in this report. Finally, I