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1Faculty of CommerceNameSurnameReg NumberProgrammeNancy DMuchonoM191376Business MgtPraiseMangeziM192872Business MgtCOURSE;MANAGEMENT ACCOUNTINGCOURSE CODE;BM 203LECTURER;MRNYAKUWANIKWAYEAR;2.1Question:The major goal of management accounting is customer satisfaction,quality and benchmarking have been identified as some of the techniques that canbe used to satisfy customers.Discuss. (100)
2TABLE OF CONTENTSPAGEEXECUTIVE SUMMARY…………………………………………………………….1DEFINATION OF TERMS……………………………………………………………2CUSTOMER SATISFACTION……………………………………………………….3Advantages of customer surveys…………………………………………………….4Disadvantages of customer satisfaction surveys…………………………………..4Advantages of customer satisfaction………………………………………………..6BENCHMARKING…………………………………………………………………….8Advantages of bench marking………………………………………………………..12Disadvantages of bench marking……………………………………………………15Bench marking process………………………………………………………………15QUALITY………………………………………………………………………………17Key components of quality…………………………………………………………..18Importance of quality…………………………………………………………………18Disadvantages of quality……………………………………………………………..20MANAGEMENT ACCOUNTING……………………………………………………21Techniques in managerial accounting……………………………………………..21Advantages of management accounting………………………………………….23Disadvantages of management accounting………………………………………25CONCLUSION………………………………………………………………………27RECOMMENDATION………………………………………………………………28REFERENCES………………………………………………………………………29
31EXECUTIVE SUMMARYThe aim of this write up is to discuss the view that the major goal of managementaccounting is customersatisfaction, quality and bench marking have been identifiedas some of the techniques that can be used to satisfy customers. In this essay I amgoing to demonstrate the scope, advantages and disadvantages of the abovementioned techniques and mostly how they are related in satisfyingcustomers .Atthe end of the essay conclusions are going to be drawn on the above mentionedtechniques. Recommendations as to how these techniques can be improved in orderto satisfy customers would be given as well.1.2 DEFINATION OF TERMSMANAGEMENT ACCOUNTINGManagementaccountingisthepracticeofidentifying,measuring,analyzing,interpreting and communicating financial information to managers for the pursuit oforganizationalgoals.Itistheprocessofpreparingmanagementreportsandaccountsthatprovideaccurateandtimelyfinancialandstatisticalinformationrequired by managers to make day to day and short term decisions. In managementaccounting also known as managerial accounting, managers use the provisions ofaccounting information in order to better inform themselves before they decidematters within their organizations, which aids their management and performance ofcontrol functions. Organizations that use contemporary management accountingpractices to a greater extend experience greater change and stronger performance,Mary ,A. Malina,(2016).

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