Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Activity Based Costing and Master Budgeting Bibliography
Discussion: Activity-Based Costing (ABC) and Master Budgeting
Read at least 2 academically reviewed articles on ABC and 2 articles on Master Budgeting and complete the following:
- Write an annotated bibliography of each article.
- Based on the articles you reviewed, discuss what you learned
- In addition, discuss how a manager would use the concepts in the articles you reviewed in managerial decisions.
340 words or more, citations and references ply no plagiarism.
Please organize the discussion as listed above.
Managerial Accounting Economics Discussion
Please write a 150-word peer response for Answer 1 and another 150-word peer response for Answer 2 and another 150-word peer response for Answer 3.
Answer 1
ABC & Master Budget
Annotated of Activity-Based Costing
Coda, Z., Mandell, D., Pine, J., Beyda’s, R., Curran, G., & Marcus, a. S. (2020). A practical method for costing implementation strategies using time-driven activity-based costing. Implementation Science, 15, 1-15. doi:10.1186/s13012-020-00993-1
Coda et al., in their article, describe that strategies of implementation expand the use of evidence-based practices still allow them resources. While the information on costs of implementation is important for budget-constrained decision-makers, cost details are not usually published in the literature. They present a practical approach for systematically measuring the detailed, specific use of resources and the cost of implementing strategies combining TDABC or time-driven activity-based costing, a process mapping business method of accounting known for its practicality. This approach of step-by-step creates a clear process chart of implementation by defining the actor, actions, names, and timeliness of every strategy of implementation, deciding the duration as well as frequency of each behavior related with each strategy. Therefore, TDABC can help as a practical estimation method of the use of resources and costs related with different strategies of implementation as well as their discrete components (Coda, et al., 2020, pp. 1-15).
Wick, D., Wick, D., & Dolina, L. (2020). Materials requirement planning with the use of activity-based costing. Management Systems in Production Engineering, 28(1), 3-8. doi:10.2478/mspe-2020-0001
Furthermore, in the article of Wick, et al. explained that one of the areas of rationalization is the process of supplying material. Current material supply tasks are supply integration with the operation of the whole system, particularly in the design stage of the product, effective material resources use, reduction of the supply costs level from the viewpoint of production costs. The application of activity-based costing, as well as consideration of cost drivers inside this method, enables costs to be significantly reduced during the planning phase of production processes. One of the tools of measuring the production costs is activity-based costing, which is a basis for the decision-making process in the area of material supply. A model of required materials planning has been developed based on ABC, which considers reducing the variety of types and sizes of materials through alternative materials and thus reducing the cost of production (Wick, Wick, & Dolina, 2020, pp. 3-8).
Annotated of Master Budgeting
Kitara, W. A., & M, S. S. (2017). Relationship between master budget preparation and profitability in sugar factories in Kenya, “A case study of Mumia’s Sugar Company Ltd.” Account and Financial Management Journal, 2(10), 980-989. doi:10.18535/am/v2i10.06
The article explained the relationship between profitability and master budgeting in Kenya among Sugar Factories with a specific focus on MSC LTD or Mumia’s Sugar Company LTD. MSC Ltd has carried out reductions, leading to poor profitability, consequently inadequate budgeting that triggered an on-the-ground investigation. The independent study variables included MSC Ltd.’s Sales forecast, Production budget, the budget of Costs of goods sold, and Administrative and administrative budget. There was a limited distribution of budget preparation information, and a lack of budget awareness for its employees, as well as a reduction in employees negatively impacted the company’s profitability. The study’s conclusion revealed a positive relationship between profitability and budgeting (Kitara & M, 2017, pp. 980-989).
Saeed, M. Z., Qi, r. L. & Jalloh, A. A. (2016). The effects of budgets in the implementation of operational activities in private and public corporations. International Journal of Management Sciences and Business Research, 5(3), 11-20.
Saeed at al. (2016) stated that Budgets are generally set for all departments as well as major segments within the company. They have to be comprehensive, involving all interrelated departments. The budget process has to receive input on all departments; thus, coordination is in place within the company. With regard to the criticalities affecting the development process, this research seeks to analyze the impact of budgets on the execution of organizational operations in public and private organizations. This research is noteworthy to operations managers, corporate heads, and even chartered accountants since this research could enable them to do their duties effectively and efficiently. Although they are setting the strategic budget, they need to consult with all appropriate departments to meet their future needs in order to achieve effective and efficient results (Saeed, Qi, & Jalloh, 2016, pp. 11-20).
B.
I have learned various things from the reviewed articles, such as how activity-based costing and master budgeting is effective in an organizational decision-making process. As well as how they serve as a managerial tool for planning and controlling the management functions.
C.
ABC and master budgeting would use by the manager for a managerial decision as such that this helps determine the cost related to the organizational activities internally and externally, which results in effectiveness in the management process and leads to cost reduction. Moreover, it will help the manager in determining the employee’s priorities and satisfaction as the organizational goals.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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