This website uses cookies to ensure you have the best experience. Learn more

Managerial Accounting Essay

4268 words - 18 pages

1.0 Executive summary
The main aim of this report is a proposal to implement managerial decisions that could enable Triton Corporation to cut costs and improve on its returns. Initially Triton Corporation went into a recession but has recently emerged as a well performing company to realize the recent $15.2 million in 2014. Having a six operating divisions, Triton Corporation management have to craft decisions that will in the future ensure better performance.
Organizations in the contemporary business environment have been faced with challenges pertaining to allocation of resources that are inevitably scarce. As a rationale, any business is in place to create value for the shareholders and ...view middle of the document...

1.1 Introduction
Triton Corporation, a manufacturing company located in country with massive competition and economic growth in the late 1990’s and then to an economic recession in the following decade has now proved to be an economic giant thanks to the reforms and application of lean strategies.
Synchronization of cost and departments in an organization is an activity that calls for professionalism and due diligence to the end. For every Triton Corporation manufacturing department to operate successfully, all the required resources should at least be sufficient enough to contain and match the internal controls. Managers in all various levels of management will require information on what they can base their operating decisions.
Managerial accounting, a part of which I am, therefore, is a critical element division of organizations and especially manufacturing ones in identifying, measuring, analyzing, interpreting and communication of information that can be applied for decision making. All this is in line with satisfying the firm’s goals and objectives and more so to curb competition that is highly prevalent in the industry. Generally, this will be referred to as cost accounting, an aspect of management that helps the managers to base their decisions as opposed to financial management that offer information to all company outsiders.
Efficiency being one of the operative principle, departments have to cut costs and improve on the returns. This calls for actions to cut on overheads like labor costs through reducing the number of employees and installing equipment that increase the efficiency and accuracy. Product lines with less returns and small market share need to be replaced in a bid to acquire those that are more potential in the industry. This reduces the competition gap in that a firm is in a position to concentrate on those areas that it can perform exceptionally well. Deriving the market share is an undertaking that the management should keenly analyze to be in a position to choose wisely on what product lines to capitalize on. This paper seeks to analyze the efficiency of departments and the steps that the management can undertake to realize smooth operations of the firm, while ensuring the bottleneck competition in the industry is well contained. The performance of Triton Corporation I believe will be well put in the event that proper strategies of manufacturing, staff synchronization and career match of employees take place. Application of lean strategies will realize a continued and successful growth of the company.

2.0 Low Value-Added Items in Product Divisions
Companies that comply with this accounting principle have the aspect to be in existence for the foreseeable future. Elements that therefore to be keenly analyzed include the growth in performance, efficiency and the path to dealing with the major threat from competitors (Aird, 1993). In the turbulent industry where firms have mastered the art of differentiating products...

Other assignments on Managerial Accounting

Self Assessment Essay

262 words - 2 pages ed.) by Kimmel, Weygandt and Kieso b Chapter 7 - Financial accounting: Tools for business decision making (4th ed.) by Kimmel, Weygandt and Kieso b Chapter 7 - Financial accounting: Tools for business decision making (4th ed.) by Kimmel, Weygandt and Kieso c Chapter 9 - Financial and Managerial Accounting (13th ed.) by Williams, Haka and Bettner b Chapter 9 - Financial and Managerial Accounting (13th ed.) by Williams, Haka and Bettner a Chapter 9 - Financial and Managerial Accounting (13th ed.) by Williams, Haka and Bettner

Management Accounting As Eyes And Ears Of Management

449 words - 2 pages Business owners often use management accounting to track, record and report financial information for managerial review. Management accounting does not usually follow any national accounting standards. Business owners can design management accounting systems according to their company’s business operations or management’s need for business information. Management accounting has several advantages. These advantages usually

Usefulness Of Cost Volume Profit Analyisi As Amangerial Concept

2473 words - 10 pages "USEFULNESS OF COST VOLUME PROFIT ANALYISI AS AMANGERIAL Concept" By samya Alakhdar , Dr . Moade Shubita , NYIT –AMMAN –JORDAN FALL-2011. Key words :managerial accounting , cost accounting , CVP. o "USEFULNESS OF COST VOLUME PROFIT ANALYISI AS AMANGERIAL CONCEPT" 1  DR.MOADE SHUBITA "USEFULNESS OF COST VOLUME PROFIT ANALYISI AS AMANGERIAL Concept" By samya Alakhdar , Dr . Moade Shubita , NYIT –AMMAN –JORDAN FALL-2011. Key words

Acct 2102 Review

263 words - 2 pages distinguishing features of managerial accounting? Explain the management functions. Know how to calculate Cost of Good Sold and Cost of Goods Manufactured. What is product cost, manufacturing costs and period costs? What are the three inventory accounts and how are they presented on the balance sheet? What is gross profit? What is the value chain? What is ERP? What is just-in-time inventory? What is TQM?
What is the balanced scorecard

Accountants

510 words - 3 pages for analysis, planning, control, and decision-making. In addition to accounting courses, students develop oral and written presentation skills, listening skills, leadership, and career preparedness. Courses required include economic and managerial perspectives on the relationships among business activity, economic outcomes, and evaluation of business performance. In-depth study in financial reporting, managerial accounting, taxation, and

German Costing

995 words - 4 pages . References Horngren, Charles T. Cost Accounting: A Managerial Emphasis. 12th ed. Englewood Cliffs, NJ: Prentice-Hall, 1982. 419-37. Print Jinkens, Robert. "Cost Accounting In Auto Manufacturing Companies In Germany And the United States." International Business & Research Journal 9.3 (2010): 1-6. Print Kellermanns, Franz Willi, Islam, Majidul, “US and German Activity-Based Costing: A

Budget Cut

1485 words - 6 pages methods used to determine where reductions in budget/costs will be taken is largely pragmatic. (Wild, J. J., & Shaw, K. W., 2012) Managerial accounting is a synonym for cost accounting, and vice versa. (Wild, J. J., & Shaw, K. W., 2012) Dr. Stephanie White will need to review the scenarios in order to make an informed decision for the organizations budget cuts for next year. She may be inclined to use one of the scenarios or piece them together

Document

4071 words - 17 pages division in the discipline of accounting: financial accounting and managerial accounting. Financial accounting is concerned with external reporting to parties outside the firm. In contrast, managerial accounting is primarily concerned with providing information for internal management. One may have trouble seeing the distinction; after all, aren’t financial facts being reported? The following paragraphs provide a closer look at the distinctions

Acc 201 Project 1 Bank Memo

1236 words - 5 pages /14 Financial Statement and overview References Lan, J., (2016). 16 Financial Ratios for Analyzing a Company’s Strengths and Weaknesses. Retrieved from: http://www.aaii.com/journal/article/16-financial-ratios-for-analyzing-a-companys-strengths-and-weaknesses.touch Nobles, T. L., Mattison, B. L., Matsumura, E. M. (2014). Horngren’s financial and managerial accounting (4th ed.). Upper Saddle River, NJ: Pearson Education, Inc. Scheid, J

Accounting Scandal Of Worldcom

951 words - 4 pages MANAGERIAL ACCOUNTING WORLDCOM How did it cook the books? Nguyen Bao Khanh Student ID: FB60162 Class: FB0662 May 19th, 2012 APENDIX 1. WorldCom’s accounting scandal 2. How did WORLDCOM cook its books? 3. Conclusion WORLDCOM headquarter in Virginia, USA. WORLDCOM’S ACCOUNTING SCANDAL WorldCom, established in 1983, whose CEO was Bernard Ebbers, was the second largest long distance phone company in the US after AT&T. It could

Salem Telephone

340 words - 2 pages Salem Telephone Company Managerial Accounting Case Study 1: Salem Telephone Company 96122050 96122051 96122052 96122073 96122085 96122088 96122092 Group 1 Through our study of Salem Telephone Company (STC), we’re going to answer that if Salem Data Services (SDS) is really a profitable business to keep by using break-even point analysis. Before we come out the final solution, let’s discuss SDS’ accounting report step by step. First, we

Similar Documents

Managerial Accounting Essay

374 words - 2 pages surveillance. This view locates management accounting specifically in the context of management control theory. References: Jiambalvo,J (2004) Managerial Accounting. Issues in Accounting Education. 62 (1), p 61 Lawson, R. (2003) Organizing the implementation. CMA Management 77(7) p22-25.

My Life Essay

1113 words - 5 pages Kiki Accounting of Managerial There are thousands of jobs in our society, but I choose accounting of managerial to be my job. Because my major is business manage, and I am studying accounting very well, I think the job of managerial is very suitable for me. Therefore, I would like to talk something about my future job, accounting of managerial. By the influence of the trend of globalization, the foundation of the enterprise business

Mangement Accounting Essay

1595 words - 7 pages Introduction Managerial accounting is concerned with providing information to managers- that is, to those who are inside an organization and who direct and control its operations. Managerial accounting can be contrasted with financial accounting, which is concerned with providing information to stockholders, creditors and others who are outside an organization (Garrison and Noreen, 1999). Managerial accounting information includes

Drug Essay

444 words - 2 pages . • Finnacial accounting, personnel, officer’s compensation, as well as wages of sales people. – Indirect Department Expense. • Depreciation, supervision. MSB: Managerial Economics 5 Demand Analysis • This is the present pricing arrangement where BTC charges $4.00 and CPI charges $3.00 per yard of T-30, respectively. MSB: Managerial Economics 6 Demand Analysis • What would happen if BTC drops her price to $3.00