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What is managerial accounting?
Managerial accounting is the process of identifying, measuring, analyzing, interpreting and communicating information for the pursuit of an organization’s goal. It is that branch of accounting that is also known as cost accounting.
Managerial accounting comprises of all the fields of accounting that can be used to inform the management of business operation metrics. Students training to be managerial accountants need to learn the use of information relating to the costs of products or services purchased by the company. They also need to use budgets extensively as a quantitative expression of the business’ plan of operation. Students also need to learn about the preparation utilization of performance reports to note deviations of actual results from the budgets.
Few topic covered by our Managerial Accounting Experts include:
We have given below an example of one of the topics covered under the managerial accounting assignment help for your reference. You can submit your managerial assignment requirement by sending us a mail at email@example.com and we will find you the online managerial accounting assignment expert best suited to your assignment requirement.
Cost Behavior Assignment Help
Cost Behavior is the way cost responds to the changes in volume or activity a factor in almost every decision managers will make. Managers commonly use it to analyze alternative courses of action so they can select the course that will best guarantee income for an organization’s owners and maintain liquidity for its creditors.
Managers plan and use cost behavior to determine how many units of products or services must be sold to generate a targeted amount of profit and have changes in planned operating, investing and financing activities will affect operating income.
Cost behavior can be seen in Fixed Costs, Variable Costs and Mixed Costs.
Fixed Costs: Fixed Costs as the name suggests are fixed. They are fixed as in the rent for the factory, the rent for the machinery if purchased on hire-purchase, etc. These costs are fixed i.e. the number of goods produced is 0 or 10000, the costs will not change. So, the ideal is to produce as many goods as they can to decrease the amount of average fixed cost per product.
Variable Costs: Variable Costs are those costs which vary with the production. These include the cost of raw materials, the cost of hiring additional workers, the cost of power or electricity which is incremental with every extra good produced. Variable costs will increase the cost of production but, as the amount of raw material purchased increases there will be an increase in the price but at a decreasing rate.
Mixed Costs: Mixed Costs are those costs which are both fixed and variable at the same time. A proportion of the cost is fixed and the other proportion of them is variable. The examples for these include electricity, telephone and heat. In all these services there is a minimum cost which is fixed like the rent for telephone, etc and an additional cost which varies with the usage of the service.
Overhead Costs: Overheads are those costs which cannot be put under a specific category but will be put under the name. For example, an expense like repairs to the building, insurance, advertising, interest, legal fees, taxes, telephone bills, travel and utilities costs. These costs cannot be immediately allocated to the goods or the services produced. But, instead, these expenses are added to the expenses building insurance or repairs to the building expenses or building maintenance head but they cannot be put under a separate head called building repairs, expenses, etc.
Cost-Volume-Profit Analysis: Cost –Volume-Profit Analysis is an examination of the cost behavior patterns that underlie the relationships among cost, volume and profit. The relationship is measured as
Sales Revenue – Variable Costs – Fixed Costs = Profit
Break-even Analysis: Breakeven analysis uses the basic concepts of CVP relationships. The Breakeven point is the point at which total revenues equal total costs. It is the point at which the concern starts to earn a profit. For a given investment, given level of production, the number of goods produced and the cost per head of each good will determine the Breakeven point. Knowledge of breakeven point for a product is very essential as it will give the information from which product will the company start earning profit. For example: if the breakeven point is 23,000 units and if the total market is 25,000. Then the profit will start from the 23,000th good. So, here the profit making units are the last 2,000 units. The amount of profit that the company seeks will also be determined with the help of Break-even Analysis. If a company wants to earn a profit of $10,000 with an investment of $200,000. So, the company will determine that in order to earn a profit of $10,000 how many numbers of goods it has to produce.
Meet our panel of online Managerial Accounting assignment experts:
- After working as an accountant and consultant for over two decades our lead managerial accounting tutor has joined us because of his passion for sharing his extensive knowledge and teaching accounting with students through out the world. With a CPA, MBA he is noted for his ability to explain managerial accounting in a clear, concise and thorough manner to his students.
- Our next online managerial accounting assignment tutor is a certified public accountant with over five years of professional online teaching to students from USA, UK, Australia and many other countries. He also has extensive industry knowledge having worked with PwC for many years. He specializes in managerial accounting and has extensive experience in writing managerial accounting assignments and essays.
- With over ten years experience as an online managerial accounting help expert she has the ability to get frustrated accounting students to believe that they can succeed through her use of great visuals and excel representations and minimal use of confusing jargon.
What can you expect from our Managerial Accounting Assignment Help?
Highly Affordable: At HwA, we understand the financial situations of most college and university going students and hence we have designed the prices very reasonably to be within the reach of most students. Hence, our prices are generally low when compared to our competitors.
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Customized help for students: At HwA, we follow a philosophy that each student is unique and that no two students needs are the same. So, needs of each students must be handled in a unique manner. In fact, we help each of our students with topics, questions and case studies ranging from simple, complex and advanced.
What our previous and repeat Managerial Assignment Help Customers Have to Say?
“I have never experienced managerial accounting explained so clearly before. The online managerial assignment experts at HelpWithAssignment are very professional and clear in their communication. Their prices are also right for a student like me on a tight budget.” John Lowes, sept 2016
“The best part about the assignments is the quality of writing that I have received every time. The “real world” examples suggested by the online managerial accounting assignment tutors with requisite numbers help take the assignment several notches higher and have helped improve my grades.” Rachel Kiernan, Aug 2016
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