• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

I am going to discuss the difference between managerial accounting and cutting cost. I will also provide some of where lean production came from and how it started

Extracts from this document...


´╗┐Andrea Blake IP 2 September 3, 2012 American Intercontinental University Cutting Cost Abstract In this paper I am going to discuss the difference between managerial accounting and cutting cost. I will also provide some of where lean production came from and how it started or originated from. I am going to also briefly touch on how Dr. White can prepare to cut budgets as well as the company and the other employees that surround her. Cutting cost The difference between cost accounting and managerial accounting is that when talking about cost accounting it is mainly used within the company to manage the companies? costs or even drop costs. ...read more.


The goal was to try and get rid of any area or sourcing, material or production related costs unless it was used and tied up directly to adding value to the production line. If this philosophy is used in the right manner than there is no waste, and the quality of products go up and in most cases the costs will reduce. One example that I can think have for learn production are the ?kanban? or the pull production. What pull production is it?s when materials or goods are pull as needed from the central repository called a kanban. ...read more.


She may have to let her employees know that some of them will be laid off due to the difference in the workload because now it has been reduced. If it is decided that she may have to lay some people off the best thing to do is to let them or inform them as early as possible so they will be ready for the Cutting cost cut. Unfortunately, it has to be done and she has to prepare herself mentally as well. I am sure as a manager of a big company or even small ones laying people off or firing them knowing everyone needs their job is disheartening. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Accounting & Financial Management section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Accounting & Financial Management essays

  1. Sources Of Finance

    The most appropriate source to use in this scenario to expand the private limited company into a public limited company is to use hire purchase to obtain the most expensive resources needed to make this happen some examples are more equipments and machinery needed to produce more stock or larger premises to develop the business into etc.

  2. Principles of accounting

    Nat Sole Trader Trading account for the year ended 31 December 2005 Dr Cr $ $ $ Opening stock 805 Sales 6450 Purchases 4200 Less returns outwards 30 4170 Add carriage inwards 40 4210 Cost of goods available For sale 5015 Less closing stock 960 Cost of good sold 4055

  1. Free essay

    `Accounting as a discipline has no theory`. Critically evaluate this statement and provide examples ...

    (Lecture notes 4, page 6). There are many problems with knowledge based on the same lines of truth but if knowledge is properly derived it is reliable and objective. The Conceptual Framework can be defined as: "a coherent system of inter-related objectives and fundamentals that should lead to consistent standards

  2. A2 Business CourseWork

    being very low, and even negative before, this means that prices are, generally increasing. Tesco will have to take this into account when trying to decide prices of their goods. Also suppliers may increase their costs because of it, and staff may demand higher wages which will mean Tesco will have to increase their prices to cover their costs.

  1. Introducing Accounting - Purpose, Information, Statements and Ledgers

    Assets are always listed in order of liquidity, and then followed by the liabilities. Net assets is the difference of assets and liabilities. Income statement which is also known as profit and loss statement provides financial information on the income and expenses of the company.

  2. Vyaderm Pharma. We will first calculate the 1999 actual EVA retroactively and if ...

    be a flat line starting from point X, as seen in Figure 1. It could be set to have a gradient (Figure 2) after achieving a certain target. 2. Thresholds encourage short-term decision making Agree o Just like a cap is a limit on the bonus axis, threshold is like a floor (opposite of cap)

  1. The maintenance of accurate records supplies the company with the financial data that assists ...

    As mentioned earlier failing to submit accurate and correct financial records to Inland Revenue can result in paying of a fine, this can have an effect on the cash flow of the business badly. Enron was one of the world's leading electricity, natural gas, and pulp and paper companies.

  2. Costs and Budgets of Headliners Hair Salon

    Now, I am going to consider the effects on the break-even point if there are any changes on costs or sales revenue which may incur at Headliners Hair Salon. Using the formula I am going to calculate break-even point. BEP = Fixed Costs Contribution What effect would the following changes have on break-even?

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work