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Platform for Performance Management

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Performance Management

In attempting questions, we apply relevant knowledge, skills and exercise professional judgement in selecting and applying management accounting techniques in different business contexts.

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Overhead costing

Overhead costing along with ABC forms the backbone of Performance Management. The knowledge from this topic is applied to many more topics.
Find questions relating to allocation of factory overheads.

Labour costing

In this topic we learn how a lobourer's wage is computed basing on either time worked or productivity.
This topic for Foundation Level.

Job costing

In this topic we start to practice allocation of factory overheads using various allocation bases like direct-labor hours, direct labor cost or machine hours.
It is recommended to go through this topic before facing ABC.

Activity Based costing

This topic is the backbone of performance management. ABC is a method for assigning costs to products, services, projects, tasks, or acquisitions, based on (1) the activities that go into them and (2) the resources consumed by these activities.

Process costing

The basic feature of a processing system is that as products pass from the raw material input stage to becoming finished products they pass through a number of distinct stages or processes of manufacture.

CVP Analysis

Cost-volume-profit (CVP) analysis studies the effects on future profit of changes in fixed costs, variable costs, volume, sales mix and selling price.

Marginal and Absorption costing

Two income statements are prepared, one under absoprtion costing and thhe other under Marginal (Variable) costing.

Joint and By-product costing

Joint product and by product arise when a single process yields two or more products or (service) simultaneously. E.g. the distillation of coal, give us coke, gas, and other products.

Decision making

In this topic, using relevant information we make choices between future, uncertain alternatives. This topic is very wide in coverage and has 98% chance of appearing in professional examinations.

Standard cost and Variance analysis

Variance analysis involves comparing actual costs with standard costs to identify variations or discrepancies.
Basic, Material mix and yield, sales mix and quantity, planning and operational variances are covered.

Product pricing

The pricing decision is one of the most crucial and difficult decisions that a firm has to make. We considers product pricing from both the economist‘s point of view and from the accounting point of view.

Transfer pricing

Transfer pricing is the set of mechanisms which is used to attach prices to goods or services which are traded between two divisions of the same company.

Divisonal Performance Measurement.

Performance measurement is important in divisionalized structure companies. Various techniques are applied in measuring performance in business and nonprofit organizations.