Management Accounting For Business Decisions 2nd Edition Colin Drury - Solutions

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Do you get on to the point quickly and engagingly or do you belabor points?
Are you passive and nonresponsive or active in the give-andtake on conversation?
Do you encourage monologues or dialogues?
Do you ask others open-ended questions that draw them out?
What would you do first?
What steps would take in recruiting this staff?
What should be the steps in the hiring process?
How would you evaluate the personnel?
How would you organize the in-service training programs?
discuss the role of budgeting in operational planning,
understand the relationship between budget documents,
identify the sequence for preparing various budget documents,
analyze trends using historical and management data,
identify internal and external factors impacting budget preparation,
Assume you are the golf superintendent for the Rea Park Golf Course, and therefore use the budget depicted in Appendix
You have received a brohure advertising a workshop for greenskeepers that promises to demonstrate ways to reduce course maintenance costs by 15% for those successfully completing the workshop. The workshop fee, related travel, and per diem expenses will cost$1,000 per person.a. If the claims of the
You decide to send your maintenance supervisor to the workshop. Realizing that any savings will not be available until next year, where will you find the $1,000 in this year's budget?Justify your decision.
Using the basic budget format in Appendix 1, construct a budget for the city's slow pitch softball all-star team to travel to the regional championship tournament in a city 275 miles distant. The entry fee is $750. There are 15 players/coaches on the team. The tournament is expected to last two
Discuss the relationship between programs and budgeting.Which comes first?
What is the organization's business and what should it be?
What business should the organization be in five years from now? 10 years?
Who are the organization's customers and who should they be?
Should the organization try to grow in this business or grow primarily in other businesses?
As the successful CEO of a major league baseball team, comment on the role of planning in the management process.
Assume you are the athletic director of an Ivy League university. Despite its importance, you seem to resist planning.What are some of the reasons you might offer to explain your behavior?
Imagine you are the human resource manager of a mediumsize sporting goods company with facilities in seven states. As part of an orientation program for a new group of employees, you have been asked to comment on the company's policies, procedures, and rules. What explanations and examples would
As an expert in planning, you have been asked by the vice president for student affairs of your university to prepare a strategic plan for managing the university's athletic program over the next ten years. How would you define the specific market segments to be served? What key capabilities would
Fantasize that you have been appointed President of the Dallas Cowboys. Explain how you would avoid the biggest pitfalls to successful planning.
As the successful head coach of a nationally recognized university basketball program, explain what your objectives will be for the upcoming season. Of what benefit are these objectives to you and your team?
What kind of planning should you do before you decide to go ahead on this project in this city?
What additional environmental search should you carry out?
What objectives should you set up?
Can you ever make a decision like this on the basis of planning premises and studies alone?
Explain the typical pattern of cost commitment and cost incurrence during the three stages of a product's life cycle;
Describe the target costing approach to cost management;
Describe tear-down analysis, value engineering and functional analysis;
Distinguish between target costing and kaizen costing;
Describe activity-based cost management;
Explain the purpose of a cost of quality report;
Describe how value chain analysis can be used to increase customer satisfaction and manage costs more effectively;
Explain the role of benchmarking within the cost management framework;
Outline the main features of a just-in-time philosophy.
Calton Ltd make and sell a single product. The existing product unit specifications follows: are asCalton Ltd require to fulfil orders for 5000 product units per period. There are no stocks of product units at the beginning or end of the period under review. The stock level of material X remains
The implementation of budgeting in a world class manufacturing environment may be affected by the impact of (i) a total quality ethos (ii) a just-in-time philosophy and (iii) an activity based focus. Briefly describe the principles incorporated in EACH of (i) to (iii) and discuss ways in which each
New techniques are often described as contributing to cost reduction, but when cost reduction is necessary it is not obvious that such new approaches are used in preference to more estab- lished approaches. Three examples are: new technique compared established approach with (a) benchmarking
Kaplan ('Relevance Regained', Management Accounting, September 1988) states the view that the 'time-honoured traditions of cost accounting' are 'irrelevant, misleading and wrong'. Variance analysis, product costing and operational control are cited as examples of areas where information provided by
'ABC is still at a relatively early stage of its development and its implications for process control may in the final analysis be more im- portant than its product costing implications. It is a good time for every organisation to consider whether or not ABC is appropriate to its par- ticular
A company is proposing the introduction of an activity-based costing (ABC) system as a basis for much of its management accounting information. (a) Briefly describe how ABC is different from a traditional absorption approach to costing and explain why it was developed. (8 marks) (b) Discuss the
'Japanese companies that have used just-in-time (JIT) for five or more years are reporting close to a 30% increase in labour productivity, a 60% reduc- tion in inventories, a 90% reduction in quality rejection rates, and a 15% reduction in necessary plant space. However, implementing a just-in-time
Within a diversified group, one division, which operates many similar branches in a service indus- try, has used internal benchmarking and regards it as very useful. Group central management is now considering the wider use of benchmarking. Requirement: (a) Explain the aims, operation, and
Feedback control theory and product quality measurement (a) In control theory, a 'feedback control' mechanism is one which supplies information to determine whether corrective action should be taken to re-establish control of a system. You are required to: (i) illustrate by means of a diagram how
Describe the different elements of strategic management accounting;
Describe the balanced scorecard;
Explain each of the four perspectives of the balanced scorecard;
Provide illustrations of performance measures for each of the four perspectives;
Describe the distinguishing features of performance measurement in service organizations.
Management accounting practice has traditionally focused on techniques to assist organisational decision-making and cost control. In concentrating on the internal environment, the management accounting function has been criticised for not addressing the needs of senior management to enable
The introduction of improved quality into products has been a strategy applied by many organisations to obtain competitive advantage. Some organisa- tions believe it is necessary to improve levels of product quality if competitive advantage is to be preserved or strengthened. Requirement: Discuss
Research on Performance Measurement in Service Businesses, reported in Management Accounting, found that 'performance measurement often focuses on easily quantifiable aspects such as cost and productivity whilst neglecting other dimen- sions which are important to competitive success'. You are
Performance measurement in non-profit organizations (a) The absence of the profit measure in Not for Profit (NFP) organisations causes problems for the measurement of their efficiency and effectiveness. You are required to explain: (i) why the absence of the profit measure should be a cause of the
Thomas Sheridan, writing in Management Accounting in February 1989, pointed out that Japanese companies have a different approach to cost information with 'the emphasis - based on physical measures', and 'the use of non-financial indices, particularly at shop floor level'. He argues that their
The 'Balanced Scorecard' approach aims to pro- vide information to management to assist strategic policy formulation and achievement. It emphasises the need to provide the user with a set of informa- tion which addresses all relevant areas of per- formance in an objective and unbiased
Design and discussion of key performance indicators for DIY outlets and regional companies Duit plc has recently acquired Ucando Ltd which is a regional builders' merchants/DIY company with three outlets all within a radius of 40 miles. Duit plc is building up its national coverage of outlets. Duit
Distinguish between functional and divisionalized organizational structures;
Explain the factors that should be considered in designing financial performance measures for evaluating divisional managers;
Explain why it is preferable to distinguish between managerial and economic performance;
Explain the meaning of return on investment, residual income and economic value added;
Compute economic value added;
Illustrate how performance measures may conflict with the net present value decision model;
Justify the use of a risk- adjusted discount rate for determining the divisional cost of capital;
Explain why it is important to include additional non- financial measures when evaluating divisional performance.
Explain the meaning of standard hours produced;
Define basic, ideal and currently attainable standards;
Calculate labour, material, overhead and sales margin variances and reconcile actual profit with budgeted profit;
Identify the causes of labour, material, overhead and sales margin variances;
Construct a departmental performance report.
Distinguish between feedback and feed-forward controls;
Explain the potential harmful side-effects of the different types of controls;
Define the four different types of responsibility centres;
Explain the different elements of management accounting control systems;
Describe the controllability principle and the methods of implementing it;
Describe the different types of financial performance targets and the effects of their level of difficulty on motivation and performance;
Describe the influence of participation in the budgeting process;
Distinguish between the three different styles of evaluating performance and identify the circumstances when a particular style is most appropriate.
Explain how budgeting fits into the overall framework of decision-making, planning and control;
Describe the six different purposes of budgets;
Describe the various stages in the budget process;
Prepare functional and master budgets;
Describe the limitations of incremental budgeting;
Describe activity-based budgeting;
Describe zero-base budgeting.
Explain the concept of net present value (NPV) and internal rate of return (IRR);
Calculate NPV, IRR, payback period and accounting rate of return;
Justify the superiority of NPV over the IRR;
Calculate the incremental taxation payments arising from a proposed investment.
calculate and explain the meaning of expected values;
Explain the role and limitation of standard deviation and coefficient of variation as a measure of risk;
Construct a decision tree when there is a range of alternatives and possible outcomes;
Calculate the value of perfect information; apply the maximin, maximax and regret criteria;
Explain the implications of portfolio analysis.

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Management Accounting For Business Decisions 2nd Edition Colin Drury - Solutions

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