By Colin Wilks
The 2006 version of CIMA's respectable examine structures were absolutely up-to-date to mirror adjustments within the syllabus. selection administration has been written through the examiners to totally mirror what might be proven within the examination. up to date to include legislative and syllabus alterations, the 2006 examine structures offer whole learn fabric for the may possibly and November 2006 assessments. the recent version keeps the preferred loose-leaf layout and comprises: * perform questions all through * whole revision part * subject summaries * urged interpreting articles from a number of journals * may perhaps 2005 Q & A's * The reliable research platforms are the single research fabrics recommended by means of CIMA * up to date to mirror alterations within the syllabus with key sections written via examiners * entire built-in package deal incorporating syllabus tips, complete textual content, steered articles, revision courses and vast query perform
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Additional info for CIMA Study Systems 2006: Management Accounting-Decision Management (CIMA Study Systems Managerial Level 2006)
Example text
There were no stocks at the end of May and other information is as follows. Standard cost per unit Direct material Direct wages Variable production overhead Budgeted and actual costs per month Fixed production overhead Fixed selling expenses Fixed administration expenses Variable selling expenses £ 18 4 3 99,000 14,000 26,000 10% of sales value Normal capacity is 11,000 units per month. 1 Profit statements using marginal costing A marginal costing system will value all units at the variable production cost of £25 per unit (£18 ϩ £4 ϩ £3).
First a scattergraph is drawn which plots all available pairs of data on a graph. 2. Then a line of best fit is drawn by eye. This is the line which, in the judgement of the user, appears to be the best representation of the gradient of the sets of points on the graph. 9. QXD 20/4/05 07:18 PM Page 11 MANAGEMENT ACCOUNTING – DECISION MANAGEMENT Scattergraph 3. The point where the extrapolation of this line cuts the vertical axis (the intercept) is then read off as the total fixed cost element. The variable cost per unit is given by the gradient of the line.
This is one of the reasons why the analysis is limited to being essentially a short-term decision aid. (e) Apart from the unrealistic situation described above of a constant product mix, the charts can only be applied to a single product or service. 5. The total cost line is not a straight line that climbs steadily as in the accountant’s chart. Instead it begins to reduce initially as output increases because of the effect of economies of scale. Later it begins to climb upwards according to the law of diminishing returns.