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Essay / Research Paper Abstract
A 3 page paper discussing the benefits and uses of responsibility accounting. The antidote to micromanaging is delegation, but with that delegation arises the need for managers delegated to, to be accountable for their decisions. Responsibility accounting fills that need and is practiced at many companies, including Coca-Cola. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSacctResp.rtf
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Unformatted sample text from the term paper:
to micromanaging is delegation, but with that delegation arises the need for managers delegated to, to be accountable for their decisions. Responsibility accounting fills that need and is practiced
at many companies. Coca-Cola is one of them. Management Accounting Horngren, Sundem and Stratton (2002) state that budgeted "goals and performance are
generally a better basis for judging actual results than is past performance" (p. 271). Under this approach, an increase in sales can appear to be gratifying and positive but
"may or may not indicate that the company has been effective and has met company objectives" (Horngren, Sundem and Stratton, 2002; p. 271).
An operations budget can specify efficiency targets - manufacturing costs will be 65 percent of sales, as example - which the companys management can review for performance after the fact.
Horngren, Sundem and Stratton (2002) state that judging performance on the basis of past performance can mask inefficiencies in processes, but that assessing performance on the basis of a
budget may highlight those inefficiencies so that they can be rectified in the future. This provides a solid base for responsibility accounting.
Every plant manager and retailer understands that overhead, labor and the cost of materials combine to create the final cost of production of an item. It has been a
standard measurement for decades, yet it has only been rather recently that the information has been used for strategic decisions involving finance, sourcing and even environmental compliance. Absorption and Variable
Costing Over time, both absorption and variable costing result in equal net income. Absorption costing is full costing, and includes all costs
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