Managerial Accounting -- Budgeting 1 & (1) Is this a static or flexible budget? Since many of the budget line items are based on student enrollment, this budget format is considered to be a flexible budget. The costs of providing instructors and associated benefits is fixed by the state with regard to the ratio of students to teachers, and students per classroom (which is more a function of fire codes and building

Managerial Accounting Cost-volume-profit analysis is a tool used in managerial accounting that helps companies to determine the level of production (and sales) required by the company to break even. In CVP analysis, costs are separated into fixed and variable costs. The assumption is that the fixed costs do not change, while the variable costs do change with the level of production. Once sales are taken into account, so are variable costs,

2. Research the answers to management tax or auditing questions- once an accountant understands their job, they must be prepared to answer very specific questions concerning the accounting information that is provided (Johnstone & Biggs, 1998). While most CEO's and people in various departments have some understanding of accounting, there are some very intricate financial details that only accountants fully understand (Johnstone & Biggs, 1998). With this understood, successful accountants

Budget Management Analysis In budgeting, one of the major challenges is accurately predicting the profit margins of a firm. This is because there are uncertainties from changes in the economy and their industry. These factors could adversely affect their earnings. To improve accuracy, accounting personnel must use tools and strategies that will enhance analysis. This will be accomplished by focusing on: tactics for managing budgets, comparing results with expectations and recommending

Greater emphasis must be placed on studies to highlight the factors which affect the diffusion of these managerial accounting techniques which can increase an organizations productivity, efficiency and competitiveness. (Tan, 2002, p. 226) Innovative academic researchers and managers should pave the way for a scientific management movement which can lead to the design of management accounting systems which are significantly different from the traditional ones. (Johnson; Kaplan, 1991, p.

Managerial Accounting: Manufacturing Overhead: The costs allocated to a cost object can be considered as fixed or variable as well as direct or indirect costs. There are two types of costing systems that are used by management accountants i.e. job-costing systems and process-costing systems. While job-costing systems mount up and track costs differently for every product or service, the process-costing systems are basically used by companies manufacturing huge quantities of similar or