Costing Methods Essays and Research Papers

Instructions for Costing Methods College Essay Examples

Title: Executive summary

  • Total Pages: 10
  • Words: 2755
  • Sources:0
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Executive summary for FedEx and UPS
Two separate reports one for FedEx and one for UPS.
From the most recent annual report (FedEx may 2006 and UPS Dec 2005) analyze the accounting data and managerial analysis prepare a written report that gives the title of the company its industry its major competitors and list of strength, witnesses, opportunities, and threats. Propose four goals and strategies for FedEx to meet its competition head on. In the analysis answer the following questions in order.

1) How does FedEx and UPS defined and uses planning, controlling, management by exception, and relevant range.
2) How does FedEx and UPS distinguish between viable and fixed costs, product and period costs, manufacturing costs, and non-manufacturing costs, and job-order and process costing?
3) How does FedEx and UPS analyze the relationship between cost, volume, and profit of their organization?
4) How does FedEx and UPS relate its cost to the financial statement its business and determine the net income of its business? How FedEx allocate its cost?
5) How does FedEx and UPS allocate his indirect overhead costs to products and department?s? Does it use the traditional costing methods or activity-based costing?
6) How does FedEx and UPS discriminate between relevant and irrelevant information in the analysis of data for making decisions concerning accepting or rejecting special sales orders, adding or deleting product lines, maximizing the use of productive capacity, determining target sales prices, whether to make or buy critical parts or products, and keeping or replacing equipment?
7) How does FedEx and UPS develop budget and performance reports distinguishing between static budgets and fixed budgets measuring operating results against their budgets, and computing the fix budget cost variances and applying them to a performance analysis?
8) How does FedEx and UPS set responsibility accounting systems, devices and techniques for controlling costs, cost allocation methods, and ways to measure performance of the company?
9) How does FedEx and UPS reduce capital budget reports using discounting cash flow methods including all income tax effects?
10) Company overviews: Briefly give an overview of FedEx and UPS covering the present mission, vision, goals, and strategies.
11) The recommendations: Of new gold and new strategies should include timeline and steps for monitoring.

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Bibliography

FedEx Annual Report, May 2006

United Parcel Service, Inc.: Company Report. On the Internet at http://moneycentral.msn.com/investor/research/profile.asp?Symbol=UPS (n.d.). Last retrieved on October 28, 2006

UPS Annual Report, Dec 2005 http://www.FedEx.com/us/about/today/mission.html

http://en.wikipedia.org/wiki/FedEx

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Title: Discuss purposes accounting concepts important successful management planning business strategies Give examples support interact You charts flowcharts illustrate explain points discussion Financial Statements Regulatory oversight Product Costing Methods Job Order Process ABC

  • Total Pages: 2
  • Words: 557
  • References:2
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: Discuss the purposes and uses of each of the following accounting concepts and why they are important to successful management planning and business strategies. Give examples of how they support and interact with each other. You may use charts or flowcharts to illustrate and explain your points of discussion.


- Financial Statements (Regulatory oversight)

- Product Costing Methods ( Job Order, Process and ABC)

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GAO. (2002, March 5). Protecting the Public Interest. Retrieved from U.S. Government Accountability Office: http://www.gao.gov/products/GAO-02-483T

Guilding, C., Drury, C., & Tayles, M. (2005). An empirical investigation of the importance of cost-plus pricing. Managerial Auditing Journal, 20(2), 125-137.

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Title: Walmart

  • Total Pages: 12
  • Words: 3190
  • Works Cited:10
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Download the annual report for Wal-Mart most recent year reported; review the information contained on Wal-Mart?s website and proxy statement for use. Review and analyze the annual report and other pertinent information.

Please list the questions before and then answer the question.

1. Create an executive summary of Wal-Mart that discusses the company, industry, products and services, and competitive advantages in the marketplace.

2. Evaluate the financial condition of Wal-Mart and its ability to achieve the strategic objectives as discussed in the annual report.

3. Analyze Wal-Mart?s profitability trends and recommend strategies for management to improve or capitalize on these trends.

4. Evaluate Wal-Mart?s cash position. Articulate its ability to invest in capital projects in future years.

5. Analyze the effectiveness of Wal-Mart?s inventory or service costing methods. Make a recommendation for improvement in this area.

6. Evaluate the adequacy or risks of the internal control environment noted in the annual report by management, and internal and external auditors.

7. Assess the risk of Wal-Mart related to foreign currency translations, foreign economic events, and international financial reporting standard requirements in order to summarize the risk tolerance level for the company.

8. From reading the annual report and reviewing the Website, determine where the company appears vulnerable for displaying unethical behavior.

9. From the research conducted in this paper, predict where Wal-Mart will be financially in five (5) years. Thoroughly provide your rationale for your prediction.

Ensure the ten (10) references are academic references. Wikepedia and other websites cannot be used.

Please ensure that APA style is correctly used. Please no unnecessary spaces between paragraphs adhered to the correct double spacing.

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50 Years of Helping Customers to Save Money and Live Better. (2012). Wal Mart. Retrieved from: http://www.walmartstores.com/sites/annual-report/2012/WalMart_AR.pdf

Chan, A. (2011). Wal Mart in China. Ithaca, NY: ILR Press.

Holmes, T. (2011). The Diffusion of Wal Mart. Ecometria, 79 (1), 235 -- 302.

Hugos, M. (2011). Essentials of Supply Chain Management. Hoboken, NJ: Wiley.

Ingram, P. (2012). Trouble in Store. American Journal of Sociology, 116 (1), 53 -- 92.

Lopez, R. (2011). Entry of Wal Mart Supercenters. Centers for Food and Resource Policy, 3, 1-29

Mentzer, J. (2001). Defining Supply Chain Management. Journal of Business, 22 (2), 1 -- 25.

Roberts, B. (2012). Wal Mart Key Insights. Philadelphia, PA: Kogan Page.

Soderquist, D. (2005). The Wal Mart Way. Nashville, TN: Nelson.

Thomas, M. (2011). Competing in the Age of Wal Mart. Journal of the International Academy for Case Studies, 17 (2), 5 -- 59.

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Title: PART 1 Consider scenario A company major businesses operates One business manufactures sells unicycles commercial circuses total sales 150M sells bicycles public total sales 20M The unicycle business occupies 75 000 square feet manufacturing warehouse bicycle business occupies remaining 25 000 square feet

  • Total Pages: 2
  • Words: 705
  • Bibliography:6
  • Citation Style: APA
  • Document Type: Research Paper
Essay Instructions: PART 1: Consider the following scenario:

A company has two major businesses that it operates. One business manufactures and sells unicycles for commercial use in circuses and so forth (total sales of $150M), and the other sells bicycles to the public (total sales of $20M). The unicycle business occupies 75,000 square feet of the manufacturing warehouse, and the bicycle business occupies the remaining 25,000 square feet. Cost were split 50-50 between the 2 businesses for advertising (total advertising expense of $5M) and warehouse expense (total warehouse expense of $3M) in the past (traditional method).

1. What was the cost of advertising and warehouse expense allocated to each of the businesses based on the traditional method?
2. What recommendation would you make in allocating these expenses to each of the businesses, and how much would be allocated to each business?
3. What would be some of the issues of too many expenses or too little expenses being allocated to each of the businesses?


PART 2: Consider the following scenario:

Your CFO, in her initial work, needs to decide whether to set up a job order costing system or a process type costing system. She has asked you to make a recommendation based on the following information. You plan to meet with her in the morning and provide support for your recommendation.

1. Compare and contrast job order costing to process costing methods.
2. What kind of system works best in what kinds of companies?
3. What kind of system makes sense for your company, given that you plan to start with only one
version of your product but at some point in the future may offer a variety of options?

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Bradford, T., 2008, Process costing, Accounting, http://www.suite101.com/content/process-costing-a52142 last accessed on July 26, 2011

Nure, R., Accounting 131, College of San Mateo, http://www.smccd.net/accounts/nurre/online/chtr3.htm last accessed on July 26, 2011

Vitez, O., 2011, The advantages of process costing, Small Business, http://smallbusiness.chron.com/advantages-process-costing-4065.html last accessed on July 26, 2011

Job order system, Business Dictionary, http://www.businessdictionary.com/definition/job-order-system.html last accessed on July 26, 2011

Job order costing system, Accounting for Management, http://www.accountingformanagement.com/job_order_costing.htm last accessed on July 26, 2011

Process costing, Accounting Tutorial, Middle City, http://www.middlecity.com/ch18.shtml last accessed on July 26, 2011

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