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PAPER F5: PERFORMANCE ADMINISTRATION

SPECIALIST PRICE AND MANAGING ACCOUNTING APPROACHES

MANAGEMENT ACCOUNTING

‘In the broadest feeling, all accounting is administration accounting. Every financial and cost information generated by simply accountants is of some fascination to supervision. But , used, where administration accounting varies from monetary accounting... ' (from A tip into Supervision Accounting simply by John Sizer) Required: (a) (b) Give a brief definition of management accounting. (6 marks) Give a discussion of the major differences between management and financial accounting. (20 marks) (Total: 25 marks)

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A COLLEGE

A college offers a number of degree courses. The school organisation framework consists of 3 faculties, every with a number of teaching departments. In addition , there is certainly an administrative/management function and a central services function. The following price information exists for 12 months ended 35 June 20X7: (1) Occupancy costs Total £1, 500, 000. These kinds of costs happen to be apportioned on such basis as area applied which is: Square feet Faculties six, 500 Teaching departments 20, 000 Administration/management 7, 500 Central services 3, 1000 (2) Administration/management costs Direct costs: £1, 775, 000. Indirect costs: an apportionment of occupancy costs. Direct and indirect costs happen to be charged to degree programs on a percentage basis. (3) Faculty costs Direct costs: £700, 1000. Indirect costs: an apportionment of guests costs and central support costs. Indirect and direct costs are charged to teaching departments. (4) Instructing departments Immediate costs: £5, 525, 500. Indirect costs: an apportionment of occupancy costs and central service costs additionally all teachers costs. Indirect and direct costs are charged to degree programs on a percentage basis. (5) Central providers Direct costs: £1, 500, 000. Roundabout costs: a great apportionment of occupancy costs. Direct and indirect costs of central services have got in prior years been charged to users on a percentage basis. A study has now been finished which has predicted what consumer areas could have paid external suppliers for the similar services with an individual basis. For the year ended 31 June 20X7, the apportionment of the central services expense is to be recalculated in a way which acknowledges the cost savings achieved by using the central companies facilities instead of using exterior service businesses. This is to become done by apportioning the overall savings to customer areas in proportion to their talk about of the believed external costs.

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NEWSPAPER F5: OVERALL PERFORMANCE MANAGEMENT

The estimated exterior costs of service supply are as follows: £000 Function 240 Instructing departments 800 Degree classes: Business research 32 Physical engineering 48 Catering studies 32 All the other degrees 448 ____ you, 600 ____ (6) Additional data concerning the degree classes are as follows: Degree program Business Mechanical Studies Architectural Number of graduates 80 50 Apportioned costs (as % of totals) Teaching departments 3% 2 . 5% Administration/management 2 . 5% 5% Central services need to be apportioned since detailed in (5) previously mentioned. The total number of graduates from your college in the year to 31 June 20X7 was two, 500. Essential: (a) (b) Prepare a stream diagram which shows the apportionment of costs to user areas. No values need be demonstrated. (5 marks) Calculate the regular cost every graduate, intended for the year concluded 30 06 20X7, pertaining to the college as well as for each of the deg in business research, mechanical architectural and wedding caterers studies, demonstrating all relevant cost evaluation. (15 marks) Suggest factors behind any differences in the average price per graduate from one level to another, and discuss in short , the significance of these kinds of information to the college managing. (5 marks) (Total: 25 marks)

Wedding caterers Studies one hundred twenty 7% 4%

(c)

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