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excel calculations paste on word as well as send excellfiles so i have upload too.

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excel calculations paste on word as well as send excellfiles so i have upload too.
Answered Same Day Aug 21, 2020 ACC512 Charles Sturt University


Ashish answered on Aug 23 2020
145 Votes
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The important difference between the managerial accounting and financial accounting is the managerial accounting focuses and provides relevant information to the managers for effective decision making. In contrast, the financial accounting is focused on providing the relevant information to outside parties of the company.
Followings are the main functions of management accounting;
1. Planning: It is to devise short-term and long-term plans and actions to achieve a particular objective.
2. Organizing: It is a process of establishing an organizational framework and assigning responsibility to people working in an organization for achieving business goals and objectives.
3. Controlling: Control is the process of monitoring, measuring, evaluating and co
ecting actual results to ensure that a business enterprise goals and plans are achieved.
In cu
ent scenario many individuals are employed in the company which is the very important for achieving the company goals. Therefore, the management is focused and controls the employee’s behavior during the working hours.
Followings three steps are followed;
1. Create a circular workforce
2. Separate workers
3. Make visible actions
    Lake Ltd.
    Cost of Goods Manufactured Schedule
    Work in Process (1st July, 2016)
    Direct materials:
    Raw Material Inventory (1st July, 2016)
    Add: Raw material purchased
    Freight In
    Raw material available
    Less: Raw Material Inventory (30th June, 2017)
    Raw material used
    Less: Indirect material
    Direct material used
    Direct Labo
    Indirect material used
    Indirect labo
    Factory Rent
    Depreciation Expense - Factory Equipment
    Total overhead cost
    Total costs
    Work in Process (30th June, 2017)
    Cost of goods manufactured
    Lake Ltd.
    Cost of Goods Sold Schedule
    Beginning finished goods
    Cost of goods manufactured
    Goods available for...

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