A Report Regarding Budgeting of Phone Phu and Vinabike and Difference Analysis of Riley Labs and Cayman islands land Blood Bank Essay

п»ї ADMINISTRATION ACCOUNTING

A REPORT ABOUT BUDGETING OF PHONG PHU& VINABIKE AND VARIANCE ANALYSIS OF RILEY LABS & ANTIGUA BLOODSTREAM BANK

Prepared for:

Lecturer, Ms. Nam Giang Dao

Prepared by: " STARS” group

Kelly- Nguyễn Thu Minh (Leader) –F04-109

Tom- Nguyễn Quang Anh –F04-009

David- Đậu Xuân Mạnh –F04-107

Bi- Phạm Kim Ngân –F04-120

Last submission: 21 June 2012

EXECUTIVE SYNOPSIS

It is certainly that every corporations not only in Vietnam but likewise in the world want an accurate accounting system and modern accounting program to have deep understanding about monetary accounting scenario of these organization. It helps them make on time decisions to formulate companies in right approach, control all activities, and reduce all costs that happen during their operation. The purpose of this kind of report is to introduce suitable budgeting and costing methods in the operating of these firms or the Administrator can find out thoroughly all operations of capital, cash flows, and debts. Following that, business may have a clear see to advantages and disadvantages of each activity in the business. This will help managers ensure the achievement with the organization aims; communicate all good ideas and effective programs; make the right system of control and encourage employees to improve their efficiency. This report will address the budget intended for Phong Phu and Vinabike Company, which includes operating Costs and money Budget, establishing variances, determining possible causes and making some recommendation about corrective actions, and preparing a performance survey using the versatile budget way. One of the primary goals of administration accounting is always to provide info for decision-making and setting up budget will probably be studied jointly such sort of how the managing accounting function can aid initial decision making. In conclusion, management accounting plays a key role in organizations today. The top documentalist in most companies is the controller. All accounting functions are accountable to this individual, such as cost accountants, the economic and tax accountants, the interior auditors, and systems support personnel. Although much administration accounting originates within these positions, most decision manufacturers in the business must learn how to create and use good management accounting information. STAND OF CONTENTS

INTRODUCTION10

CHAPTER I actually: PREPARE OUTLOOK AND PLAN FOR A BUSINESS 10

PART you: NATURE AND PURPOSE OF THE BUDGETING PROCESS11

1 . Characteristics of budgeting11

1 . 1 . Definition of budgeting11

1 . 2 . Distinguish cost management and prepare 11

1 ) 2 . one particular Definition of proper plan doze

1 . installment payments on your 2 . Evaluation between cash strategy and strategy 12

1 . 3. Differentiate budgeting and standard costing 12

1 . 3. 1 Definition of regular costing 12

1 . 3. 2 . Assessment between budgeting and standard costing12

1 . 4. Stages in the prep of a spending budget 14

1 . 4. 1 Budget committee 14

1 . 4. installment payments on your Responsibility to get budget 13

1 . 4. 3. This manual 12-15

1 . 5. 4. Stages in budget preparation 16

installment payments on your Purpose and benefit of budgeting 17

2 . 1 . Preparing process 18

2 . 2 . Controlling method 19

3. Behavior areas of budgeting22

a few. 1 . Imaginative budget Classification 22

several. 1 . 1 ) Definition twenty-two

3. 1 ) 2 . Purpose of doing innovative budget 22

3. 1 ) 3. Approaches to create budgetary slack twenty three

3. 1 . 4. Effects of budgetary slack twenty four

3. 2 . Goal justesse and dysfunctional decision making 25

3. three or more. Solutions 25

PART 2: BUDGETING METHODS 26

1 ) Fixed and flexible budget twenty six

1 . 1 . Definition of set and flexible budget26

1 . 2 . Advantages and disadvantages of fixed and flexible budget dua puluh enam

1 . 2 . 1 The huge benefits of a set budget 27

1 . installment payments on your 2 . The disadvantages of your fixed budget27

1 . installment payments on your 3 The advantages of a versatile budget 27

1 . 2 . 4. The disadvantages of any flexible budget28

2 ....

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