Apply the principles of working capital control

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Reference no: EM132520324 , Length: word count:3000

GAC4010 Finance For Managers - Gulf College

Learning outcome 1: Demonstrate understanding of and evaluate the role of costs, cost classification and cost behaviour in the financial decision making process;

Learning outcome 2: Demonstrate understanding of the use of costs in pricing decisions and the external factors affecting price;

Learning outcome 3: Describe the need for and apply the principles of working capital control.

Task 1. "Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing the variable costs of each step of production as well as fixed costs." Required to:
a. Discuss the cost classification by behavior giving your own examples for each. Also, explain how these costs change with change in the level of activity.
b. Explain the role of demand and cost in pricing decisions.

Task 2. "Marginal costing is the technique of presenting cost data wherein variable costs and fixed costs are shown separately for managerial decision making."

Required to:

Explain the application of Marginal costing in Selection of Product Mix by giving your own numerical example.

Task 3. "A break even chart is a chart that shows the sales volume level at which total costs equal sales." Required to:
Provide your own data and construct a Break even chart and find the Break-even point in units and in Omani rials.

Task 4. Working capital is the amount of a company's current assets minus the amount of its current liabilities which is a strong measure of a company's liquidity.

Required to:
Discuss the ways to better manage the working capital in a business concern.

Attachment:- Finance For Managers.rar

Reference no: EM132520324

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