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Accounting & Costing for BusinessIndividual AssignmentAssignment Cover SheetQualificationModule Number and TitleHND in Business ManagementBHNC 4204: Accounting & Costing for BusinessStudent Name & No.AssessorB.D.D Heshan Thilakarathna NG/HNDBM/24/17Nilushi GunaratneHand out dateSubmission Date23/07/201707/09/2017Assessment typeIndividual ReportDuration/Length ofAssessment3000 wordsWeighting of Assessment50%Learner declarationI, B.D.D Heshan Thilakarathna NG/HNDBM/24/17 certify that the work submitted for this assignment ismy own and research sources are fully acknowledged.Marks AwardedFirst assessorIV marksAgreed gradeSignature of the assessorDate1 | P a g eBatch 24
Accounting & Costing for BusinessIndividual AssignmentFEEDBACKFORMINTERNATIONALCOLLEGE OFBUSINESS&TECHNOLOGYModule:BHNC 4204: Accounting & Costing for BusinessStudent:B.D. D Heshan Thilakarathna NG/HNDBM/24/17Assessor:Ms.Nilushi GunaratneAssignment:Individual ReportStrong features of your work:Areas for improvement:Marks Awarded:2 | P a g eBatch 24
Accounting & Costing for BusinessIndividual AssignmentAcknowledgementI would like to take this opportunity to express my profound gratitude and deep regards to ourguide, Ms. Nilushi Gunaratne, for her exemplary guidance, monitoring and constantencouragement throughout the assignment.Also, I referred much kind of resources such as journals, Articles, Books and so on.Therefore, I take this opportunity to thank for all authors and supporters. In addition to that Iwill hope that you will be get some knowledge about financial management concepts.Thank you to our university colleagues, for the valuable ideas and opinions provided by themrelated to this topic. I myself grateful for their cooperation during the period of myassignment.Lastly, thank to my parents, brothers, sisters and friends for their constant encouragementwithout which this assignment would not be possible.3 | P a g eBatch 24
Accounting & Costing for BusinessIndividual AssignmentExecutive summaryThis study cover the areas of the cost and management accounting. The task is to describe thedifferent types of cost associated with a new consumer product manufacturing company andalso to identify the different types of costing methods.The “Task 2” defines marginal costing and compares it with absorption costing. Whereasabsorption costing recognizes fixed costs as part of the cost of a unit of output and hence asproduct costs, marginal costing treats all fixed costs as period costs. Two such differentcosting methods obviously each have their supporters. Because of the different inventoryvaluation used, produces a different profit figure and we will be looking at this particularpoint in detail.The “Task 3” regarding budgets and their importance within a company. Companies arestarting to pay more attention to efficient management of resources and, for this purpose, usebudgets as tools for financial management at company’s level and at the level of the main

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ranga

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