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management accounting performance evaluation
[...]...CONTENTS x MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 8.13 Throughput accounting 8.13.1 The theory of constraints 8.13.2 Throughput accounting 8.13.3 Throughput cost control and effectiveness measures 8.13.4 Summary of throughput accounting 8.14 Backflush accounting 8.15 Summary Readings Revision Questions Solutions to Revision Questions... effectively filed and easily retrieved later The Performance Evaluation syllabus Examined for the first time in May 2005 Syllabus outline The syllabus comprises: Topic A B C D 2005.1 Cost Accounting Systems Standard Costing Budgeting Control and Performance Measurement of Responsibility Centres Study Weighting 25% 25% 30% 20% MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 Students should be able to: apply... origins of throughput accounting as ‘super variable costing’ and its application as a variant of marginal or variable cost accounting; (v) apply standard costing methods within costing systems and demonstrate the reconciliation of budgeted and actual profit margins; 2005.1 THE CIMA STUDY SYSTEM Learning aims xvii THE CIMA STUDY SYSTEM xviii MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 (vi) compare... to transfer pricing for divisional decision making, divisional and group profitability, the motivation of divisional management and the autonomy of individual divisions 2005.1 MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 Organisation structure and its implications for responsibility accounting Presentation of financial information including issues of controllable/uncontrollable costs, variable/fixed... systems for resource planning and the integration of accounting functions with other systems, such as purchase ordering and production planning Back-flush accounting in just-in-time production environments The benefits of just-intime production, total quality management and theory of constraints and the possible impacts of these methods on cost accounting and performance measurement B – Standard Costing –... costing as a system of profit reporting and stock valuation Throughput accounting as a system of profit reporting and stock valuation Activity-based costing as a potential system of profit reporting and stock valuation The integration of standard costing with marginal cost accounting, absorption cost accounting and throughput accounting Process accounting including establishment of equivalent units in stock,... liabilities in international operations and implications for currency management and possible distortion of internal company operations in order to comply with Tax Authority directives Transitional arrangements Students who have passed the Performance Management paper under the Beyond 2000 syllabus will be given a credit for the Performance Evaluation paper under the new 2005 syllabus For further details... £40,964 Basis of production overhead absorption 22,000 machine hours 19,760 machine hours 41,800 labour hours MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION 9 Job number 427 was manufactured during the period and its job cost card reveals the following information relating to the job: COST ACCOUNTING SYSTEMS Direct material requisitioned Direct material returned to stores Direct labour recorded against... spend on it It occupies 45 per cent of the main body of the text because it includes many tables and charts 2005.1 THE CIMA STUDY SYSTEM Study technique xv THE CIMA STUDY SYSTEM xvi MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 It is essential to know your syllabus As your course progresses you will become more familiar with how long it takes to cover topics in sufficient depth Your timetable may... subdivision of total usage/efficiency variances into mix and yield components (Note: The calculation of mix variances on both individual and average valuation bases is required.) 2005.1 MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 C – Budgeting – 30% Learning outcomes On completion of their studies students should be able to: (i) explain why organisations prepare forecasts and plans; (ii) calculate . fixed production overhead volume variance 53 MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 iv CONTENTS 2005.1 v MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 CONTENTS 2005.1 2.10.5 Analysing. and Performance Evaluation 301 Learning Outcomes 301 7.1 Introduction 301 7.2 Performance evaluation 302 7.2.1 The profit and loss account 302 7.2.2 Return on capital employed 303 MANAGEMENT ACCOUNTING. Cost management and ABC 352 8.12.4 A comprehensive example of ABC 353 8.12.5 Variance analysis and ABC 362 ix MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION P1 CONTENTS 2005.1 8.13 Throughput accounting