Traditional cost reduction programs

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Nuzrq0676

Business Finance

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The relationship between the case and the classwork It is important to mention at the onset that managerial accounting and cost management are twins. That goes to the extent that administration in an organization calls for a careful analysis of the expenses of the organization. To make more profits, it is necessary that managers keep an eye on the costs of running operations in the institution. Should they be high, there is a need to craft creative mechanisms to reduce the same while also ensuring that the organizational culture and the dignity of the employees in not compromised. Discussed below are some of the ways in which the case bears semblance to work done in class; An initial introduction to the course touched on managerial accounting and the business environment. The subject laid emphasis on the managers in the general set up of the organization and the factors that they consider while making decisions. Managerial accounting entails making deliberate efforts to influence the financial performance of the organization through the adoption of various policies that will enhance growth. All these are done by the particular environments in which the business operates. The case has provided for a situation in which companies decide to change their places of operation because of the environment. For example, a company decides to go overseas in search for business when the existing environment is either hostile or unfavorable. For instance, high cost of labor and increased taxes may make an entity to shift operations to other countries. The course has also concerned itself with the value concept and all the factors that are considered while apportioning the costs of various services. The concept is broad and covers on a myriad of issues that touch on the fundamental structure of the institution. It indicates the role of management in affecting costs and the general effects of the expenses on the performances of the organization. The case is related to the topic as it gives a picture of some of the ways in which the traditional managers used to reason out to take a particular course of action. For example, it would be good to find out the reasons that make institutions find a way of merging their operations so as to reduce costs and still get that mutual benefit. In addition to that, the course work also discussed at length the issue of activity based costing in the larger area of system designs. In this field of discussion, the issue of how to best arrive at costs arose. Organizations allocate costs differently in a manner that suits their operations. The system they have designed would be helpful in determining the effectiveness of their models. In the case study, some organizations that are labor intensive had to find the ways of reducing the work so as to arrive at a manageable level of costs. For instance, some would inject technology so as to replace human effort. The case is, therefore, relevant in indicating whether the lessons obtained in class are workable or merely theoretical.
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Hello buddy,.. I have completed the task as requested. Please see it in the attachment below.

The relationship between the case and the classwork
To begin with, managerial accounting and cost accounting are deeply related. This is in regard to the
managements need for detailed analyses of expenses to understand the performance. The management have
to look into ways of reducing the expenses in order to increase their profitability. In cases where the costs
rise above the required ones, the management must work with employees to reduce this by ensuring that
efficient and effective costing and allocation is dispensed with immediacy. In light of this, this ...


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