how do management control systems contribute to i) Cost Management i) Planning and Control iI) Assigning responsibility for problem-solving

Q: What are some management techniques in cost management

A: Cost Management refers to the practice of estimating, recording and closely the monitoring the costs…

Q: Introduction to business

A: Answer -    Correct Option is Option D - Planning & Controlling.

Q: he management wants to know about the cost behaviour and how to classify the cost according to its…

A: Cost behaviour refers to an aspect which helps in indicating the change incurred in costs when there…

Q: techniques used in management accounting.

A: Budgeting is the tool of management accounting to forecast future operational revenues, costs and…

Q: Explain the Role of activity based costing technique in improving organisational performance.

A: SOLUTION- ACTIVITY BASED COSTING-  IT IS USED TO GET A BETTER GRASP ON COSTS ALLOWING COMPANIES TO…

Q: Standard cost systems facilitate the management practice known as  A) management development. B)…

A: Management development is a  process of development of the individuals by providing them training…

Q: describe the connection between the management process planning, feedback, controlling

A:

Q: How should managers estimate and interpretcost information?

A: Cost: It refers to the economic value incurred by a company to produce a product or deliver a…

Q: Why are top management support and cross-functional involvement crucial when attempting to implement…

A: Activity based costing system is a form of costing system in which cost is analysed by dividing the…

Q: What is activity base cost management?

A: Activity-based costing commonly referred to as ABC is a part of cost accounting. Cost accounting is…

Q: Some of the things that are the responsibility of the operational sector are capacity planning.…

A: Capacity planning refers to a process for determining whether the production resources like…

Q: What is the beginning & end function of management process? a. Directing & Controlling b.…

A: Functions of management process - Planning  organizing  leading controlling

Q: b. Classification of costs may be based on the information needs of management and their nature.…

A: Cost- Cost states all types of cost related to manufacturing of goods, operations of business, etc.…

Q: What is activity based management? Why is it important? taking example

A: Activity based management:Activity based management is the process of applying activity-based costs…

Q: Define and explain the cost management information system's two major subsystems.

A: Cost management information system refers to the system which is related with the manufacturing the…

Q: The area of management concerned with designing and overseeing the process of production is which of…

A: Operations management is the management of operational processes inside a company to make the…

Q: Explain the term supply chain and its importance to cost management?

A: Supply chain is a network of different activities, steps, processes, people, resources and…

Q: Describe management's discussion and analysis.

A: Management's discussion and analysis: Management discussion and analysis is the portion of company…

Q: Describe the concept of management by exception and explain how standard costs help managers apply…

A:

Q: Explain Management’s discussion and analysis.

A:

Q: how does standard costing system helps managers to make decisions

A: Standard costing is said to be a practice where expenses for production process are estimated in…

Q: Cost and Costing, as well as the importance of calculating costs in product management, may be…

A: Cost refers to the value of money that has been used to produce or manufacture something. It can…

Q: What is the most significant function of a cost of production report, and why is it important? What…

A: The significance and use of a cost of production report:

Q: Define standard costs and briefly indicate how they may beused by management in planning and…

A: Standard costs: Standard costs are the per-unit cost that is expected to be incurred under normal…

Q: describe the connection between the management process planning, feedback, controlling? take an…

A:

Q: Define standard costs and explain how they assist managers in controlling costs.

A: standard cost: Standard cost is an estimated or predetermined cost based upon existing conditions.…

Q: the uses of cost information in decision making to managers

A: Cost: It is a value related to the product that determines its purchasing value. A cost, in general,…

Q: What is the strategic role of a costing system?

A: Introduction: A costing program is designed to tract the costs a company have incurred. The system…

Q: What are the two dimensions of the activity-based management model?How do they differ?

A: Activity based costing is a type of costing method which allocate indirect cost based on their…

Q: a) Distinguish between Production management and Operations Management. h) Distinguieh between…

A: Introduction:- The main objective of production and operations management is to adequately operate…

Q: What types of management reports are prepared by the cost accounting system?

A: Definition: Cost accounting systems: It is a system which measures, record, and reports the product…

Q: the course tittle of this assignment from is:- Advanced cost and Management Control System 1.…

A: SOLUTION- Managerial accounting is an internal business function responsible for managing a…

Q: What is the purpose of a responsibility accounting system?

A: Responsibility accounting system: the responsibility accounting system is an internal system that…

Q: Why do we require product, task order, and process cost data?

A: The Answer :

Q: What is cost accounting system and operational control system?

A: Introduction: Cost accounting is the reporting and assessment of a company's cost structure. The…

Q: Identify and discuss the factors that affect the focus and practice of cost management.

A: The practice of managing and organizing the expenses associated with running a firm is known as cost…

Q: Cost accountancy

A: Cost accountancy is the application of cost accounting principles, methods and techniques to…

Q: What is cost management, and how does it differ from management accounting and cost accounting?

A: Cost accounting and management accounting are two different forms of accounting, that is being…

Q: cost center important in managerial accounting

A: A cost center is a division in an organization that adds cost to the organization. It does not…

Q: How Absorption and Variable Costing, Budgeting and Responsibility Accounting are connected?

A: Answer: Absorption and Variable Costing, Budgeting and Responsibility Accounting  There is…

Q: At what level of management is the long-range planning function most important? a. at top management…

A: Long range planning means financial and other plans being made in the business for substantially…

Q: Define and explain the cost management information system's two major subsystems.

A: The Cost Accounting Information System (CAIS) is a financial accounting system that computes and…