Internship Report On Management Accounting Practice At Beximco Pharmaceuticals Ltd: A Review Of Costing Function ‘Management Accounting Practice At Beximco Pharmaceuticals Ltd: A Review Of Costing Function’ by Syeda Afrina Sarwar ID: 07304063 BRAC Business School BRAC University, Bangladesh August 2011 ‘Management Accounting Practice At Beximco Pharmaceuticals Ltd: A Review Of Costing Function’ Submitted By: Syeda Afrina Sarwar ID: 07304063 BRAC Business School Submitted
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Bank. A summary of PFMS functions vs modules of selected ASW is presented below: • • • FreeBalance eFinancials Oracle E-Business Suite SAP R/3 (FreeBalance Software, Canada) (Oracle Corporation, USA) (SAP AG, Germany) FreeBalance eFinancials www.freebalance.com Budget Preparation Budget Appropriations Management of Payments Management of Revenues Accounting (General Ledger) Cash/Fund Management Commitment/Purchasing Asset/Inventory Management Financial Reports HR Management and Payroll Interfaces
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week of Cost Accounting. This week, you learn what managerial and cost accounting are and how these relate and contrast to financial accounting. You then learn about the two basic forms of cost accounting—job order and process cost systems. Most importantly, you will consider ethical considerations within managerial and cost accounting. Your work this week is a critical foundation for the entire course. The first chapter presents a thorough orientation to managerial and cost accounting, including
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Internship Report On Management Accounting Practice At Beximco Pharmaceuticals Ltd: A Review Of Costing Function ‘Management Accounting Practice At Beximco Pharmaceuticals Ltd: A Review Of Costing Function’ by Syeda Afrina Sarwar ID: 07304063 BRAC Business School BRAC University, Bangladesh August 2011 ‘Management Accounting Practice At Beximco Pharmaceuticals Ltd: A Review Of Costing Function’ Submitted By: Syeda Afrina Sarwar ID: 07304063 BRAC Business School Submitted
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Q3: Discuss the concepts of Financial Decision Measures, responsibility accounting, Profit & Investment centers, and highlighting examples relevant to each. • Financial Decision Measures Financial Decisions Financial Decisions are decisions that involve: (1) Determining the proper amount of funds to employ in a firm (2) Selecting projects and capital expenditure analysis (3) Sourcing funds on the most favorable terms possible (4) Managing working capital such as inventory and
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corporate headquarters of Marco Corporation. Waltham Motors is a subsidiary of Marco Corporation and was acquired in late 2003. This analysis is for the month of May 2004. Accounting Practices: As part of my analysis I started with a review of the company’s account policies. I found that there were no changes in the accounting procedures since Waltham had been acquired. Performance reports were created monthly by the plant accountant. Sharon Michaels would then write a narrative report which was
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the auditor’s report if not resolved. They include the following: • Matters that are significant and involve issues regarding the appropriate selection, application and consistency of accounting principles pertaining to the financial statements, including related disclosures. Such matters often relate to accounting for complex or unusual transactions or to estimates and uncertainties and any applicable management assumptions. Results of auditing procedures that indicate the financial statements or
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Price (AQ × SP) (SQ × SP) 12,000 ounces × 9,375 ounces* × $20.00 per ounce $20.00 per ounce = $240,000 = $187,500 $225,000 Price Variance, $15,000 F 9,500 ounces × $20.00 per ounce = $190,000 Quantity Variance, $2,500 U *3,750 units × 2.5 ounces per unit = 9,375 ounces Alternatively, the variances can be computed using the formulas: Materials price variance = AQ (AP – SP) 12,000 ounces ($18.75 per ounce* – $20.00 per ounce) = $15,000 F *$225,000 ÷ 12,000 ounces = $18.75 per ounce Materials
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Question 1 The types of information that Murphy needs to run his business more effectively are management accounting information. Management accounting information is the continuous improvement process of planning, designing, measuring and operating the both non-financial information systems and financial information systems that can helps to decide the management action, provide the type of information that should be generated for managers and creates the cultural values to achieve organization’s
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Chapter 7 Activity-Based Costing and Management LEARNING OBJECTIVES Chapter 7 addresses the following questions: Q1 How is activity-based costing (ABC) different from traditional costing? Q2 What are activities, and how are they identified? Q3 What process is used to assign costs in an ABC system? Q4 How are cost drivers selected for activities? Q5 What is activity-based management (ABM)? Q6 What are the benefits, costs, and limitations of ABC and ABM? These learning questions (Q1 through
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