Project Management Tutorial 4 – Project budget and cashflow planning Project budget 1.1 Give one (1) example of a project and perform the following: (a) Choose two (2) activities of that project and (b) Set up direct costs, indirect costs and contingency for the 2 chosen activities Project cashflow 2.1 Discuss the various “Cash-inflow” and “Cash-outflow” sources for the following stakeholders of a condominium development project: (a) Sub-contractor (b) Main-contractor (c) Developer 2
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Constraint Management at UniCo: Analyzing “The Goal” as Fictional Case Study Abstract As a fictional case study, Eliyahu Goldratt’s novel about manufacturing, “The Goal: A Process of Ongoing Improvement,” presents a constraint-focused approach to production management. As a novel, the book does not emphasize the quantitative details of the plant improvements. However, a great amount of information about the plant is spread throughout the book. By collecting and analyzing this data, a concrete
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Management Audit Status of Cost and Management Audit in Bangladesh It is obviously understood that considering the aforesaid multifarious and multidimensional benefits of cost accounting and management auditing the Government of Bangladesh has made keeping cost books and cost accounts compulsory in the Companies Act, 1994 through section 181. The relevant part may be seen from clause (d) of subsection (1) of section 181. Section 220: Audit of certain matters by Cost and Management Accountants:
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industry is intensive, it it is necessary for Colorscope to provide high quality products and service to their client. In that way, it can build a long-term customer relationship and attractive other customer’s to invest their products. 2. Two stage cost system In activity based costing, the two stage
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representatives) Dave Marley, Cost Accounting Manager (supervises cost accountants) Kevin Carson, Production Supervisor (supervises all manufacturing employees) Sally Renner, Engineer (supervises all new-product design teams) REQUIRED a) What are the primary information needed by each manager? Give examples. (5 Marks) b) Which, if any, financial accounting report(s) is likely to be used by each manager? Explain. (3 Marks) c) Name one special purpose management accounting report that could be designed
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analysed the information of exhibit 1, 2, 3 and 4. Alternatives * Reduce the manufacturing costs * Produce the Romaine Doll * ABC-method for the Geoffrey Doll * Do nothing Criteria * Costs * Profit * Implementation time Asses the alternatives Alternatives | Decision Criteria | | | | | | Qualitative | | Quantitative | | | | Implementation time | | Costs | Margin | | 1. | | | | | | 2. | | | | | | 3. | | | | | | Select the best
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2. Given some of the apparent problems with Wilkerson’s cost system, should executives abandon overhead assignment to products entirely by adopting a contribution margin approach in which manufacturing overhead is treated as a period expense? Why or why not? The current method does not provide and accurate representation of the actual cost to produce the 3 products. The overhead rate is 300% and directly related to the labor costs. Many of the overhead hosts are actually batch level activities
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caused the existing system at ETO to fail? The primary reason for the failure of Electronic Testing Operations’ (ETO) existing cost accounting system is ETO’s reliance on a labour-based overhead allocation system, which relied on an arbitrary cost-driver (i.e. overhead rate based on total pooled overhead costs and direct labour costs) (Turney, 1988, p. 2-3). The cost driver is based entirely on direct labour and assumes that all the components utilise direct labour and overheads in an equal proportion
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1. Executive Summary This report covers on the central problem the business encounters and offer solutions to reconstruct certain facets of the business. The main concern that Cambden Cakes faced is the inaccuracy of the method of costing used which results in a misstatement in its profit report. This report is to offer an alternative to the current costing method - Activity-Based Costing (ABC). The following detailed explanatory will be covered in the main body Limitations
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Colin Drury, Management and Cost Accounting – Berkshire Threaded Fasteners Company Berkshire Threaded Fasteners Company Professor John Shank, The Amos Tuck School of Business Administration Dartmouth College This case is reprinted from Cases in Cost Management, Shank, J. K., 1996, South Western Publishing Company. The case was adapted by Professor John Shank, with permission from the author from an earlier case written by J. P. Culliton, Harvard Business School. The case was originally set
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