...Appendix A - Elastic and Inelastic Demand ……………………………………………...........16 Appendix B - Summary of Variance Formulae …………………………………………...........17 Bibliography …………………………………………………………………………………….20 EXECUTIVE SUMMARY This report discusses the different models and concepts which could affect Manac’s pricing decisions and what we should consider when pricing. It also pays attention to the current standard costing approach adopted by the company together with Variance Analysis and the roles it plays in management accounting and how variance analysis contribute to overall profit. In efforts to improve profit levels it was decided to switch to ABC System and special attention is paid to the advantages and disadvantages. 1.0 Introduction Manac plc, is a large company which manufactures and sells a range of standard electrical goods. It is a multinational company which has production and sales taking place across...
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...For any operating business, the primary goal is not just to earn profit but also to maximize their profit margins. As normal convention dictates profit as the difference between revenue and cost, how much profit an entity makes depends largely on how much revenue it earns. Therefore, price and quantity of goods sold are the two most direct influence on the profit of every entity and this makes a not only accurate but also strategic pricing decision a necessity for any business that wants to thrive. There are many methods and models available for managers to use in order to fix price for a varying range of products and services, depending on the position of the company in the market and the strategy associated with the product. For a multinational company that produces electronic products, it is most likely to be a large supplier in a diverse market and great or little, its ability to influence market price is, nonetheless, certain. As a result, managers of said company will most likely take full advantage of this active power to further their strategy for the entity. Usually, the process of arriving at the selling price that is tagged with each product involves coming up with a base price or a marked up price, which are derived from cost information and then, this price will be further adjusted along with other market forces and competition so that a compromise is reached, enabling the company to earn profit and yet, the price is not so high as to drive customers away. Because...
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...Recommendations for COLORSCOPE INC. By GROUP – 2 (GROUP - CD) A report submitted in fulfillment of the assignments for MANAC - II WMP 2013 [pic] Indian Institute of Management, Lucknow Noida Campus 2010 Date: 28/October/2010 |WMP6004 |AKSHAY BANSAL | |WMP6005 |AMIT AGARWAL | |WMP6007 |ANKIT SURI | |WMP6008 |ANKUSH VED | |WMP6009 |ANUBHAV KUMAR JAIN | |WMP6012 |BIKRAMJIT DEBNATH | |WMP6015 |CHANDER SHEKHAR SIBAL | |WMP6052 |SUROJEET SADHU | CASE NAME: ColorScope Situation: Colorscope is an example of a small firm seeking ways to compete in an increasingly intense competitive environment in pre-press printing. The external environment had changed with the advent of new technology, and new players entering the market had increased the supply side of the industry. Because Colorscope was not the market leader, its only option is to adopt a cost containment and quality control strategy. A simplified activity-based costing system was used to measure customer profitability. Complications: Colorscope found that many customers were unprofitable, and a few customers were responsible for most of the firm's profits. On further analysis, it was determined...
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...USE AT YOUR OWN RISK MANAC – II VARIANCE ANALYSIS Variances are to be calculated for each department separately. The standard/Budgeted values means the Budgeted Values for actual Output. This Budget is called Flexible Budget ( How to Prepare?) Variances are always the difference between values actually used and Budgeted values for actual output. All variances are in Dollars/Rupees. Any Variance = Some Quantity * Some Price – Another quantity*another price. For any Case, follow the following steps: 1) identify causes for the variance 2) Hold some Department to be responsible for it. 3) Suggest remedial, if possible 2 Golden Rules: Cost Control is always done on Actual Output Inefficiency of one department should never be attributed/overlapped to another department. VARIANCE OUTPUT INPUT SALES Variance MATERIAL Variance LABOUR Variance OVERHEAD Variance USE AT YOUR OWN RISK 1 USE AT YOUR OWN RISK MATERIAL VARIANCE: AQ – ACTUAL Quantity SQ – Standard Quantity AP – ACTUAL Price SP – Standard Price SM – Standard Mix AM – ACTUAL Mix MATERIAL VARIANCE PRICE VARIANCE AQ@AM*(AP – SP) QUANTITY/USAGE VARIANCE SP*(AQ@AM-SQ@SM) MIX VARIANCE SP*(AQ@AM-AQ@SM) YIELD VARIANCE SP*(AQ@SM-SQ@SM) AO AO AO AO AQ AM AP AQ AM SP Price Variance AQ SM SP Mix Variance SQ SM SP Yield Variance Yield + Mix = Usage/Quantity Variance USE AT YOUR OWN RISK 2 USE AT YOUR OWN RISK LABOUR VARIANCE: AH – ACTUAL Hours SH – STANDARD Hours AM...
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...| | Contents 1. Introduction 2. Mission Statement 3. Marketing Audit 1. Macroenvironment 1. Politics 2. Economic 3. Ecological 4. Social 5. Technological 2. Microenvironment 1. Competition 2. Suppliers 3. Customers 4. SWOT Analysis 1. Strengths 2. Weaknesses 3. Opportunities 4. Threats 5. Marketing Objectives 1. Strategic Thrusts 2. Strategic Objectives 6. Core Strategy 1. Target Marketing 1. Segmentation 2. Targeting 3. Positioning 2. Competitor Targets 3. Competitive Advantage 7. Marketing Mix Decisions 8. Organisation and Implementation 9. Control 10. References 11. Bibliography 12. Appendices 1. Introduction This report will provide you, as McDonalds, with a full marketing plan identifying the key issues. In this plan we will critically analyse each stage of the marketing planning process, and suggest possible strategy changes which you may wish to consider. We will set examples with theories throughout the plan and compare existing marketing decisions with our recommendations and...
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...MANAC‐I GROUP ASSIGNMENT Company : UltraTech Cement Submitted by: GROUP NO. 22 Abhinav Akshya Kattuputhur Murali (Ms) Ankit Singh Ankur Patel Anshul Kr Agrawal Ansuman Mishra Nikhil Arora B14128 B14130 B14132 B14133 B14134 B14135 B14159 STATEMENT OF PROFIT/ LOSS (All amounts are in crores of ₹) Revenue Sale of Products and Services (Gross) Less: Excise Duty Sale of Products and Services (Net) Other Operating Revenues Revenue from Operations (Net) Other Income Total Revenue (I) Expenses Cost of Raw Materials Consumed Purchases of Stock-in-Trade Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade Employee Benefits Expense Power and Fuel Freight and Forwarding Expense Other Expenses Less: Captive Consumption of Cement {Net of Excise Duty `₹ 28.89 Crores, (Previous Year ₹`39.80 Crores)} Total Expenses (II) Profit before Interest, Depreciation (PBIDT) (I)-(II) and Tax For the year ended 31.03.2014 For the year ended 31.03.2013 22803 (2725) 20078 202 20280 329 20609 2911 309 107 1015 4135 4581 3436 16494 (32) 22705 (2682) 20023 157 20180 305 20485 2792 236 (118) 968 4299 4224 3149 15549 (45) 16462 4147 319 1052 2776 559 (222) (96) 390 631 2144 (Face 78.21 78.18 15504 4980 210 945 3825 1006 – (4) 168 1170 2655 Finance Costs Depreciation and Amortisation Expense Profit before Tax Income Tax Expenses: Current Tax MAT Credit Excess tax provision reversal related to prior...
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...FINANCIAL ANALYSIS OF FMCG INDUSTRY IN INDIA IIM – LUCKNOW, IPMX (2015-16) MANAC PROJECT (TERM I) – GROUP 11 FOR SUBMISSION TO PROF. PRAKASH SINGH Compiled By: 1. Prateek Dashora (IPMX08035) 2. Shreyas Bakshi (IPMX08047) 3. Siddhartha Chatterjee (IPMX08049) 4. Supriyo Chakraborty (IPMX08051) 5. Susmit Majumdar (IPMX08054) TABLE OF CONTENTS Table of Contents Choice of Industry: FMCG............................................................................................................................................................................................ 2 Macro Factors Affecting the Industry ................................................................................................................................................................. 4 Industry Characteristics.............................................................................................................................................................................................. 6 Major Accounting Policies of the Industry ................................................................................................................................................... 10 Impact of IFRS ................................................................................................................................................................................................................. 14 Major Deviations in Acccounting Policy of Major Players of the Industry...
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...Antreprenoriatul - de la zero la succes printr-o idee genială Duminică, 21 Martie 2010 21:36 Andra Larisa Zaharia Articole - Start-up PR [pic][pic] [pic][pic][pic][pic] [pic]De când lucrez în online am observat o "specie" aparte de om de afaceri. Sunt sigură că l-aţi văzut şi voi la conferinţe şi chiar la TV. Nu poartă costum decât rareori şi nu prea conduce maşini scumpe. Nu-i plac nici servietele din piele şi nici Rolex-urile, dar o să-l vedeţi cu siguranţă cu rucsacul după el, fiindcă nu pleacă nicăieri fără laptop şi stabileşte orice întâlnire de afaceri doar în locuri cu wireless. Dincolo de semnele exterioare distinctive, veţi observa că "subiectul" nostru este vorbăreţ şi foarte informal, un amestec de trainer şi coordonator, dar care se dezice cu fermitate de eticheta "manager" sau "CEO". O să-l vedeţi cu câtă pasiune vorbeşte despre proiectele sale şi veţi mai observa şi cu ce rapiditate îi vin idei noi, pe care nu aşteaptă prea mult să le pună în aplicare. După cum probabil v-aţi dat seama, omul despre care vorbesc este Antreprenorul. Cel care nu stă prea mult pe gânduri şi se aventurează mai ceva ca Indiana Jones în jungla business-ului. Am vrut să aflu mai multe despre acest tip, pentru a-i putea face un "portret-robot", aşa că m-am gândit să-i intervievez pe câţiva dintre cei mai cunoscuţi antreprenori de la noi. Iată setul de întrebări şi răspunsurile lor. 1. Cum crezi că este perceput antreprenoriatul în România, având în vedere faptul că nu...
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