- Managerial Accounting
- After the end of this course, I have managed to achieve a lot about the information in all the modules. At the start of the course, I had numerous objectives that I targeted to achieve by the end of this module. One of the objectives was to learn how to identify the various global trends in managerial accounting. The second objective was to learn how to demonstrate knowledge of transfer pricing strategies. Through the course, I have managed to obtain the following knowledge and experience in relation to managerial accounting.
- One of the global trends in managerial accounting includes the new strategy based on the value chain. The value chain refers to all the activities that take place in order to provide a product or a service. In order to develop customer relationship and offer subsequent services, an organization need to have a reliable value chain. The other global trend in managerial accounting is technological change. The development of various automated machines has played a big role in establishing a more competent business world. Another aspect that business organizations consider nowadays is just-in-time inventory methods of products that they offer to the clients. According to most of the businesses, they value the quality of the product they offer in order to maintain future customers. The competition seen in the market has seen many organizations to change tactics and develop new ways to outdo their competitors.
- Regarding on the topic of transfer pricing strategies, I have learnt in the course of this module, I have gained a lot of knowledge on how to apply information on this strategy. Under this topic, I managed to understand that, transfer-pricing strategy is an ideal reference for most of the professionals who do not have much time to learn about the details of transfer pricing. The main purpose for identifying the strategy was to create a method of which would save readers in applying various laws and regulations to daily actual situations. According to the strategy, there are various examples outlined in order to assist the reader to make the right decision without guessing and making assumptions.
- In module 1, I have gained much knowledge concerning the Fiscal Policy. Under this module, I have leant that Fiscal Policy are not just about the economics but they also include the political philosophies. According to this module, I have learnt how to assess information contained in a government budget, apply it real life situation, and make a conclusion of whether the concerned parties use it correctly or not. In this module, I have gained much information the government or various business organizations allocate revenues.
- In module 2, I have learnt how to apply the knowledge of allocation for fixed costs in various cases. According to the information contained in this module, I have learnt how various application of cost in the structure of an organization helps in reducing the production costs. The module has helped in providing the knowledge of how an organization can be more efficient in reducing various costs for the benefit of gaining more income. On the session long project, I have learnt how to allocate the fixed cost in a segmented income statement.
- According to information of contained in module 3, I have learnt how to apply the knowledge of the other first two modules in various cases. In one of the cases, I have learnt how to assess the information contained in a budget from various organizations and institutions. In this module, I have learnt how to apply various basic ideas of managerial accounting. In module 3, I have also learned how to apply the knowledge gained from the topic SLP. According to this topic, I have learned how to apply the knowledge of budgeting that I am supposed to use in managing the organization resources.
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