...University, Durham, NC, USA Pamplin College of Business, Virginia Polytechnic Institute and State University, Blacksburg, VA, USA School of Management, University of Michigan-Dearborn, MI, USA College of Business Administration, San Diego State University, San Diego, CA, USA Department of Accounting, University of Arkansas at Little Rock, AR, USA Zicklin School of Business, CUNY – Baruch College, New York, NY, USA Belk College of Business, University of North Carolina at Charlotte, NC, USA College of Business and Economics, West Virginia University, Morgantown, WV, USA RSM Erasmus University, Department of Financial Management, Rotterdam, The Netherlands Mohamed E. Bayou Chee W. Chow Cynthia M. Daily Harry Z. Davis Nabil Elias Arron Scott Fleming Frank G. H. Hartmann vii viii LIST OF CONTRIBUTORS Fred A. Jacobs Frances Kennedy James M. Kohlmeyer, III Leslie Kren John Y. Lee Michael S. Luehlfing Adam S. Maiga School of Accountancy, Georgia State University, Atlanta, GA, USA Department of Accountancy and Legal Studies, Clemson University, SC, USA College of Business, East Carolina University, Greenville, NC, USA School of Business, University of Wisconsin, Milwaukee, WI, USA Lubin School of Business, Pace University, Pleasantville, NY, USA School of Professional Accountancy, Louisiana Tech University, LA, USA School of Accounting, Florida International University, Miami, FL, USA I.H. Asper School of Business, University of Manitoba, Winnipeg, Canada School of Professional...
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...1. Evolution of management accounting practices using IFAC model. As per IFAC (1998), there are four stages of evolution of management accounting. Prakash (2013) stated that the framework is provided to explain the developement of management accounting as to promote better understanding in changes in management accounting. Four stages of evolution of the focus of management accounting are shown in the figure 1 and describes as below. Stage 1 occurs prior to 1950 where most of the companies were focusing on cost determination related to stock valuation and the allocation of overheads. Among the accounting techniques that were developed for the cost estimation were Last In First Out (LIFO) and First In First Out (FIFO). Prakash (2013) stated that cost estimation was emphasized because by estimating the cost, managers were able to control their financial position. From 1965 to 1985, companies had moved into generating information for management planning and control. This is because only valuable information can be used to make correct decisions. This stage is using such technologies as decision analysis and responsibility accounting, to help managers choose the right decision oriented towards manufacturing and internal administration rather than strategic and environmental concerns. Management accounting, as part of the management control system tended to be reactive, identifying problems and actions only when deviations from the business plan took place [ (Abdel-Kader &...
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...com OBJECTIVES, AMBITIONS AND ASPIRATIONS ❖ To pass all the exams in November 2011 and May 2012 leading to qualification as a Chartered Management Accountant by December 2012 with the Chartered Institute of Management Accountants (CIMA). ❖ To be a Leader and drive positive change, enhance efficiency, effectiveness and productive use of organisational resources in the quest to increase profitability and return on investment to owners of organisations. ❖ To uphold ethics in execution of my professional duties and in my social affairs. EDUCATIONAL HISTORY Qualifications in progress, to complete in November & December 2011 examinations ❖ Advanced Diploma In Management Accounting - CIMA (to complete May 2012) ❖ Diploma in Management Accounting – CIMA (also to complete in May 2012) Completed Qualifications ❖ Certified Accounting Technician (NQF 5) - ACCA ❖ Certificate in Business Accounting (NQF 5) - CIMA EMPLOYMENT HISTORY Urban Genesis Management January 2012 to Current Revenue and Debtors Controller- CID Management Finance ❖ Supervise and Manage Revenue collection department(staff complement of 3 people) ❖ Run, analyse and interpret monthly debtors and revenue collection reports( Debtors and Management Accounts) ❖ Assist CID Managers with presentation of Management Accounts at the Quarterly Board Meetings ❖ Supervise the CID procument and payment processes, makes follow ups and verify that expenses are legitimate...
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...Management accounting is not new in any sense of the world. The origins of modern management accounting can be traced to the emergence of managed, hierarchical enterprises in the early nineteenth century (Johnson and Kaplan, 1987) [2]. The Industrial Revolution in the early nineteenth century resulted in the emergence of a factory system that dramatically changed the production process (Ashton, D., Hopper, T. and Scapens, R.W. 1991) [3]. This has created a new demand for accounting information. Market information, which had automatically provided details of materials and piecework labor costs incurred in meeting each customer’s order, was no longer available. In particular, information was required to determine the cost of the internal operations and also to measure the efficiency of converting materials leading to the finished product (Parker, 2002) [4]. Johnson and Kaplan (1987) [2] suggest that, notwithstanding the impact of the Industrial Revolution, the emergence and rapid growth of railways in the mid-nineteenth century was the major driving force in the development of management accounting systems. New measures such as cost per ton-mile, cost per passenger mile and the ratio of operating expenses to revenues were created and reported on a segmental and regional basis. Many of the innovative management accounting measures developed by railway companies were subsequently absorbed and developed by the other business sectors. During the nineteenth century the development...
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...ON CVP ANALYSIS IN BANK Submitted to Dr. Harunur Rashid Professor Department of Accounting and Information Systems University of Chittagong Submitted by Md. Ariful Hoque B.B.A. (Hons.): 4th Year. Class Roll: 4541 Exam Roll: 2004 /42 Session: 2003-2004 Department of Accounting and Information Systems University of Chittagong Date of submission: August 25, 2009 Letter of Submission To Dr. Harunur Rashid Professor Department of Accounting and Information Systems University of Chittagong. Subject: Submission of Term Paper report on “CVP analysis in Bank.” Sir, With the greatest pleasure, I would like to submit my report on “CVP analysis in Bank” I have tried my best to gain practical experience and also tried to reflect the same in report with my limited scope and knowledge. I wish your hearty consideration, if there is any deviation in my report. I wish to thank for your friendly co-ordination to make the program success. Yours truly, ____________________ (Md. Ariful Hoque) B.B.A. (Hons.): 4th Year. Class Roll: 4541 Exam Roll: 2004 /42 Session: 2003-2004 Department of Accounting and Information Systems University of Chittagong PREFACE The Term Paper is a program that is common for the B.B.A. student. As students of the Commerce Faculty we got adventurous touch of the program under our department of AIS. The program...
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...Effects of Technology on Accounting Information Systems James King University of Phoenix: ACC/340 Accounting Information Systems I Instructor: Ray Dahmer June 27, 2011 Effects of Technology on Accounting Information Systems The information age and the resulting technological advances have made an impact on every functional area of the accounting industry including auditing, taxation, financial, and managerial accounting (Bagranoff, Simkin, & Norman, 2008). Information systems consist of data input and processing devices, applications, personnel, and procedures, all of which produce information that management uses to make crucial business decisions (Bagranoff, Simkin, & Norman, 2008). This paper contains a discussion of modern accounting information systems and the influence of those systems in the changing landscape of the accounting profession. New Technology and Its Effect on Business The introduction of modern information technology into the accounting profession has produced advances in the industry and in the design of accounting information systems. All but gone are the days of spiral bound ledgers and adding machines. Accounting applications running on computer systems with two-gigahertz processors and gigabytes worth of memory perform accounting tasks in modern organizations. The information generated by modern accounting information systems from the data gathered by the input terminals within the system, informs managers about the situation...
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...Table of Contents Introduction: 2 P1.1: Accounting in tourism or hospitality organization. 3 P1.2: Difference between financial and management accounting 3 P1.3: Difference between a sole trader, a partnership and a limited company 4 P1.5: Use of financial software in Tourism and Hospitality business 5 P1.6: Impact of changes in IT and internet on hotels and airlines 6 P2.1: Double-entry book-keeping 6 P2.2: Calculattion and account for VAT on purchases and Sales 7 P2.3: Cash receipts, cash payments and bank reconciliation 8 P3.1: How a trial balance is constructed 8 P3.2: Trial balance along with adjustments used to prepare fianl accounts 9 P4.1: Sources of finance available to a business 9 P4.2: Reasons and the process of budgetary control 10 P4.3: How to prepare a simple cash budget 11 Conclusion: 12 References…………………………………………………………………………………………………………………………………………….13 Introduction: Business organizations face intense competition in today’s global business world. Tourism and hospitality are very large industry. A lot business organization is competing for their success in tourism and hospitality industry. The success of business organizations depends mostly on managerial decision making. However managers cannot make proper decisions if there is no information available. Financial information is the most important information for all kinds of business organizations. Without proper...
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...THE EFFECTS OF COMPUTER ON THE ACCOUNTING PROFESSION NAMES MAT NO: OTOMEWO DANIEL WILLIAMS 6050 EKHATOR OSAYUWAMEN PRECIOUS 6951 ONI JOY ADELEMON 7029 EGBE PRINCE ISAIAH 7114 ODIASE PRECIOUS IYOBOSA 7033 EKUASE AUSTINE OSAMUDIAMEN 7031 ABSTRACT The aim of this study is the effect technology on accounting profession. The results of this study shows that technology causes decrease in book keeping. Also, it causes increase accuracy in accounting process, to shorten the time of providing reports, to decrease cost of gathering information, to improve reports in management accounting and to provide a background for executing techniques of costing. Technology has affected accounting profession in a great extent, in the sense that they need to acquire new skills like as applied software’s of accounting, excel and access. Also as it reduces book keeping and saving time, an accountants participation need to increase in the processes, planning, analyzing management. Therefore, it can stated that if the use of technology applied effective, it will be provide a better background for improving accounting profession and role-creating more suitable accountants in organizations. TABLE OF CONTENT INTRODUCTION BACKGROUND OF THE STUDY Technology over the last few decades has drastically changed the face of the accounting profession. For accountants, new technology is always trying...
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... MBA Management Accounting- ACC-701 Spring -2014 Faculty: GIFT Business School Credit hours: 03 Course level: Graduate (Elective) Campus/Location/Instruction Mode: GIFT University/On Campus/In Person Course Instructor: Mr. Naveed Ahmad Mughal naveed.mughal@gift.edu.pk Consultation hours: Monday to Friday (as proposed by the instructor) Pre-requisite: ACC-512 / 516 Timing As per university time table This document was last updated: February 18, 2014 BRIEF COURSE DESCRIPTION: The aim of the course is to provide an in depth knowledge and understanding of the use of accounting information for internal purposes contrary to the external disclosure focus of the financial accounting. In particular, the objective of the course is to familiarize students with the fundamental concepts of management accounting system, and use of such information for decision making and performance evaluation. COURSE LEARNING OBJECTIVES: The primary objectives of this course are: 1. To develop an understanding of the costing, cost calculation. 2. To develop understanding of application of different techniques of cost allocation. 3. To understand the relationship between cost and volume and application of this in making different decisions. 4. To develop ability to make different decisions by using accounting information. 5. To understand the application of budgeting and standard costing as controlling tool. 6. To apply the different tools of management accounting for performance...
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...Executive summary This project has focused to achieve three objectives which are mentioned at objectives part. Findings of these objectives have described on three different chapters respectively. Directors of Jessop ltd wants to know how a management accountant can contribute on Jessop’s continuous growth. I find on my study strategic management is very likely forward looking not like traditional cost accounting. Strategic management accounting is considering external factors like competitors and management accounting contributes not only strategy developing also critically evaluates the current strategy of any organisation. In addition, management accountant can assist to control costs by implementing activity based costing methods, offer competitive pricing, budgeting process etc. Also, by applying benchmarking process, management accountant can discover strengths and weakness of Jessop ltd and way to overcome these weaknesses and keep their steady growth by exploiting all strengths. In the second chapter of this study has described various types of relevant and irrelevant cost as well as tells which costs should management of Jessop be included on total cost calculation and why should not consider. Overall impacts of relevant and irrelevant costs (revenue) on decision making has depicted on that chapter in brief form. Focal point of final chapter is on how Jessop will be beneficiary by successful implementation of activity based costing (ABC) and various problems of...
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...Colin Drury, Management and Cost Accounting - Global Ltd Global Ltd. Susan Richardson (University of Bradford Management Centre) This case study is taken from Ducker, J., Head, A., McDonnell, B., O'Brien, R. and Richardson, S. (1998), A Creative Approach to Management Accounting: Case Studies in Management Accounting and Control, Sheffield Hallam University Press, ISBN 086339 791 3. The author wishes to acknowledge Jayne Ducker and Tony Head for their editorial and developmental contributions to this case study and teaching note. Global Limited is a small company which supplies quality inspectors to the pipeline industry. The company's clients include some of the major plcs in the UK, such as the major petroleum and gas companies. The inspectors are required by these companies to provide an independent certification that the steel used in the construction of the pipes, which channel the gas and oil, meets the required standard. Additionally, inspectors are required to provide an independent certification that the joinings (known as 'welds') made when laying the pipelines are also made in accordance with industry standards. The pipelines are either laid under the ground or on the sea bed. Some inspectors are therefore required to work in rolling mills, inspecting the quality of steel and the production of the pipes, whilst others are required to work on installation sites, checking the welds. These locations can be anywhere in the world. The company is owned and managed by...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/1176-6093.htm Research in management accounting innovations An overview of its recent development Nur Haiza Muhammad Zawawi Department of Accounting and Finance, University of Malaysia Terengganu, Kuala Terengganu, Malaysia and School of Accounting, La Trobe University, Melbourne, Australia, and Management accounting innovations 505 Zahirul Hoque School of Accounting, La Trobe University, Melbourne, Australia Abstract Purpose – The purpose of paper is to present a review of the literature on management accounting innovations (MAIs). Specifically, it explores recent developments in research on MAIs and offers suggestions for future research. The review differs from existing reviews by its specific focus on MAIs and the recent time period covered. In this paper, MAIs refer to the adoption of “newer” or modern forms of management accounting systems such as activity-based costing (ABC), activity-based management, time-driven ABC, target costing, and balanced scorecards. Design/methodology/approach – The paper presents a review of findings from journal articles published in 22 notable accounting journals. Findings – The review finds that research on MAIs has intensified during the period 2000-2008, with the main focus on exploring the extent to which a host of organizational and environmental factors influence the implementation and use of MAIs in organizations. In addition, research...
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...Course Outline RSM222H1S Management Accounting (I) ------------------------------------------------- Winter 2015 Class timelocation, and instructor | L0101 | Monday | 10-12am | WO 20 | Gus De Franco | | L0201 | Monday | 12-2pm | WO 20 | Gus De Franco | | L0301 | Tuesday | 10-12pm | WO 25 | Gus De Franco | | L0401 | Tuesday | 12-2pm | WW121 | Gus De Franco | | L0501 | Tuesday | 2- 4pm | WO 25 | Hai Lu | | L0601 | Tuesday | 4- 6pm | WO 25 | Hai Lu | | L5101 | Tuesday | 7- 9pm | WO 20 | Amy Kwan | | L0901 | Wednesday | 4- 6pm | WO 25 | Amy Kwan | | L1001L0701 | ThursdayThursday | 8-10am10-12am | WW119WO 20 | Donna LosellEszter Palancz | | L0801 | Thursday | 12- 2pm | WO 20 | Eszter Palancz | Tutorial time and location | | | | | | | T0801 | Thursday | 10-11am | UC 52 | | | T0101 | Thursday | 11-12pm | SS 1074 | | | T0901 | Thursday | 12-1pm | SS 2105 | | | T0201 | Thursday | 1-2 pm | SS 1086 | | | T0301 | Thursday | 2-3pm | WO 30 | | | T0401 | Thursday | 3-4pm | WW 120 | | | T0501 | Friday | 9-10am | WO 25 | | | T0601 | Friday | 10-11am | WW119 | | | T0701 | Friday | 11-12pm | WW119 | | | T1101T1001 | FridayFriday | 12-1pm1-2 pm | SS 1088SS 2127 | | Instructorcontact information | Hai Lu (course coordinator), RT530, hai.lu@rotman.utoronto.caGus De Franco, RT537, Gus.Defranco@rotman.utoronto.ca Donna Losell, RT 529, losell@rotman.utoronto.ca Amy Kwan, amyk.kwan@utoronto.caEszter...
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...Colin Drury, Management and Cost Accounting - Global Ltd Global Ltd. Susan Richardson (University of Bradford Management Centre) This case study is taken from Ducker, J., Head, A., McDonnell, B., O'Brien, R. and Richardson, S. (1998), A Creative Approach to Management Accounting: Case Studies in Management Accounting and Control, Sheffield Hallam University Press, ISBN 086339 791 3. The author wishes to acknowledge Jayne Ducker and Tony Head for their editorial and developmental contributions to this case study and teaching note. Global Limited is a small company which supplies quality inspectors to the pipeline industry. The company's clients include some of the major plcs in the UK, such as the major petroleum and gas companies. The inspectors are required by these companies to provide an independent certification that the steel used in the construction of the pipes, which channel the gas and oil, meets the required standard. Additionally, inspectors are required to provide an independent certification that the joinings (known as 'welds') made when laying the pipelines are also made in accordance with industry standards. The pipelines are either laid under the ground or on the sea bed. Some inspectors are therefore required to work in rolling mills, inspecting the quality of steel and the production of the pipes, whilst others are required to work on installation sites, checking the welds. These locations can be anywhere in the world. The company is owned and managed by...
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...article of a traditional cost management VS lean cost management by Mahanim Hanid, Lauri Koskela and Mohan Sinwardena, the term of cost management is not a well defined term. It’s built on both cost accounting and management accounting, but goes beyond these two terms (P. Agrawal and Mehra 1998). For Brinker (1996) defines it as a set of techniques and methods for controlling and improving a company’s activities and processes, its products and services. In addition, Maskel (2009) also described that the cost and management accounting is used internally to help the company’s manager control and improve the business. Although there is an accounting standards associated with these tasks, there is no legal requirement to perform these tasks in any particular way or to perform them at all. A company can do as much or as little cost and management accounting as it wishes and it can be done in any way it wants. Furthermore, cost accounting practices are seldom exactly similar in different companies (P. Agrawaland and Mehra 1998). According to text referred, cost management is equally important to all companies, regardless of size. Small companies generally have tighter monetary controls, mainly because of the risk with the failure of as little as one project, but with less sophisticated control techniques. Large companies may have the luxury to spread project losses over several project whereas the small company may have few projects. Cost management is not only “monitoring” of...
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