Premium Essay

Mpc Activities Summary

In: Business and Management

Submitted By miaomiaoapril
Words 1085
Pages 5
In-class activity 1: Identifying control problems and MCS
Source case / paper:
Wong’s Pharmacy (textbook p. 20) AND Leo’s Four-Plex Theater (textbook p. 19)
In-class activity questions / objectives:
Wong’s Pharmacy:
1. What is the main problem facing Wong’s pharmacy?
2. What options are available to Thomas Wong?
Leo’s Four-Plex Theater:
3. What are the key controls problems at Leo’s Four-Plex Theater?
4. State the control measures implemented in the theatre and the purpose and limitations of each
5. Are the problems caused primarily by inadequate existing controls and what improvements would you suggest?
In-class activity 2: The role of management accounting information in controlling an organisation
Source case / paper:
Kaplan, R. S., 1984, The Evolution of Management Accounting, The Accounting Review, Vol. LIX, No. 3, pp. 390-418 (SO page 92 to 120).
In-class activity questions / objectives:
1. What is the role of accounting information in controlling an organisation?
2. Outline the historical development of the use of management accounting information to control organisations.
3. Why may profit not be a good criterion to “motivate and evaluate short-term performance” in all cases?

In-class activity 3: Controls at the Bellagio Casino Resort
Source case / paper:
Case Study: Controls at the Bellagio Casino Resort (textbook p. 134)
In-class activity questions / objectives:
Focus on the three key roles at three levels of authority in the casino – blackjack dealers, pit bosses, and the vice president of table games.
1. Prepare a list of the key controls described in the case for blackjack dealers, pit bosses, and the vice president of table games. What key control problems are they designed to address?
2. How would you characterize the “control strategy” (e.g., tight vs. loose) used over each of these roles (blackjack…...

Similar Documents

Premium Essay

Activity Based Management a Summary

...Activity Based Management A Summary Managerial Accounting Abstract Activity-based management (ABM) is an approach to management that directs the focus of cost managers towards activities analysis. Theoretically by concentrating on activities, this will increase the ability of management to control costs be improving efficiencies. Activity-based management (ABM) uses activity-based costing (ABC) information. ABM/ABC has been around for over 25 years and has gone through its peaks and valleys. This paper will give a short overview of ABM/ABC as well as discussing the main points of ABM including its goals, merits and drawbacks. Activity-Based Costing (ABC) “Where It Begins” for ABM Activity-based costing (ABC) is a costing method that assigns resource costs to products or services based on activities performed. The whole idea of this costing approach is that an organization’s products or services are produced or performed as a result of activities and activities use resources which incur costs. The costs of resources are assigned to activities based on the activities that use or consume resources and costs of activities are assigned to products or services based on activities performed. It is imperative in using ABC to identify the relationships between resource costs, cost drivers, activities, and products/services in assigning costs to activities and then......

Words: 1607 - Pages: 7

Free Essay

Summary of Time-Based Activity-Based Costing

...Mark Hamrick & Dakata Brodie 17 Nov 2013 Assignment 2.1 Summary of Time-Based Activity-Based Costing This article’s purpose is to explain the new version of Activity-Based Costing that uses approximations to determine time-driven Activity-Based Costing. Base on rate of technological growth and dealing with companies on larger scales, the traditional method of ABC is very cumbersome. The new time-driven activity-based costing is a much more effective technique. The article further went on to contrast the two methods of costing by showcasing traditional inefficiencies, demonstrating the ease of use for the new method, and applying real-time data to increase situational awareness. The inefficiencies of the traditional activity-based costing were the primary reasons for the new time-driven method. The article explains how the process was so cumbersome that Excel programs were not powerful enough to crunch all the numbers. Tracking information was overbearing and required dedicated teams more than a day to interpret the data. Ease of use was a primary concern for anyone to venture back to the new activity-based costing. By simply averaging the amounts and getting ballpark figures, teams could use formulas to effectively average the costs based on the average time to complete a job, not each individual task. This method didn’t require thousands of surveys to determine the cost-only estimates. This reduced the number of items tracked and provided......

Words: 424 - Pages: 2

Free Essay

Activities

...| Team building Activities | | 1. Blind Wine Waiter Team Building Task Overview Teams of six must successfully find, uncork and pour a bottle of wine into five glasses. Each team manner must carry out no more than one element of the task and at least five of the team must wear blindfolds. Pre-Work None required Equipment and Layout One bottle of wine per team, one wineglass per team, blindfolds for 5 members of each team, one corkscrew per team. Running The Activity 1. Introduce this as a light-hearted activity that will improve communication across teams. 2. Divide the group into teams of 6 and ask each team to elect a leader. 3. Hand out blindfolds to all team members other than the leader, instruct all team members other than the leader to put on their blindfold. 4. Ask the team leader to take a seat somewhere close to his/her team and ask him/her to sit on her hands. 5. For each team, position one bottle of wine, one wineglass and one corkscrew in various locations around the room. Take care to ensure that nothing is positioned where it might easily fall or break (eg make sure the wine bottle(s) and glass(es) are placed on the floor against a wall, or in the centre of a table). 6. Tell all participants that their task is to find a bottle of wine, a corkscrew and a wine glass, open the bottle and pour their leader a glass of wine. 7. Tell the participants the rules: - the team leader cannot move from his/her position and......

Words: 6849 - Pages: 28

Premium Essay

Summary

...Reflection Summary Gene Kimball, Rachel Diaz, Nikki Smith ECON/372 June 1, 2014 Spyridon Patton Reflection Summary A supply chain is the system of organizations, people, activities, information, and resources required to put a product or service in motion. Activities of the supply chain change natural resources, raw materials, and components into a final product that is delivered to the consumer or customer. In some supply chains; used products can come back into the supply chain in a recycling value. In other words a supply chain is when all of the parties involved are directly or indirectly working for customers. This includes transportation, warehouses, retailers and customers. All of this creates a dynamic and constant flow of information. Walmart is a good example of a supply chain. When a customer buys a product is has been in inventory at the warehouse, delivered by a truck by the manufacturer who deals with packaging and raw materials. Supply and demand is an economic model of price determination in a market. For example, in a competitive market, the unit price for a specific good will vary until it settles at a point where the quantity demanded by consumers, at current price, will equal the quantity supplied by producers, at current price. This results in economic equilibrium for price and quantity. The supply and demand is controlled by the demand of a product, which in turn creates supply. The model shows where the point determines prices and......

Words: 542 - Pages: 3

Premium Essay

Summary

...Summary of “Chinese Consumers’ Perception toward Smartphone and Marketing Communication on Smartphone” Huan Chen, Fang Liu, &Tingting DaiInter International Journal of Mobile Marketing, June 1, 2013 Retrieved from: Morris Library Databases/Business and Economics/ Business Source Premier In Chen, Liu, and DaiInter’s article, they use an example to explain how frequently a general Chinese worker uses a smartphone as a necessity in a workday. A research of Chinese smartphone market investigation (2011) illustrates that 1/3 of individuals used their smartphone for multiple activities on a daily basis. Moreover, it was found that the number has increased since the latest report. Consequently, many marketers have used this knowledge to achieve more effective communication between businesses and potential customers as a goal. Since previous research was insufficient, this article focuses on finding out more information. The goal is to figure out how consumers feel about advertisements and the technology that brings them to the public. The way of devices perform affects what kind of media and marketing will see on it. Also, the context of the technological platform changes what kind of advertisement are appropriate. Furthermore, research demonstrates that Chinese customers have not had a positive attitude towards mobile advertisements. But, those customers have recorded some positive aspects of mobile marketing and found some facts that affect the perception of the......

Words: 332 - Pages: 2

Premium Essay

Activity

...will identify the personal benefits he/she gains from participating in leisure activities 2x per week, for 2months. Young Adult In the first session of each week, the group will discuss the personal benefits of every possible leisure activities. Then at the 2nd session will actually experience some activity that related to the discussion in first session. Each 2nd session of the week will have different activities. After the activity the group will going the benefits which will gain from what they are participating again. Elderly Goal: participant will increase their knowledge of available recreational resource and keep the isolation away. Object participant will participate in a variety activities 1x per week. The activities or programs that provided is to meet the ever change needs and interests of the group for example like tai chi,ballroom dancing,art and craft , table games, fitness instruction is offered on the weekly activities calendar 4)All supplies will be ready before the group comes. Clear explanation of each activity will be provide and make sure that every participants in the group are understanding what will be going on before the activity start. One on one assistance if one's needed. 5) group size 6~10participants, each session is holding 1hr 30Mins. Meeting once a week for both target group. 6)both group will need a standard gymnasium, depening on the activities, or else need large open room, chair ,table, papers,color pencils,......

Words: 266 - Pages: 2

Free Essay

Activities

...Daily lectures and other activities can become monotonous for even the most devoted students. When the schedule calls for a break, keep students learning at the same time they're having a good time. So School Resource Center should build fun activities for students. The first activity is Library Scavenger Hunt. This activity is for students to better understand the library and to see all that it has to offer. Divide students into several different groups in an effort to finish a library scavenger hunt first. Give each group a list of ten different items they need to find or list. Some examples of items on the scavenger hunt can be to "Introduce yourself to the librarians and list their names on this sheet," "List three bound magazine titles and explain what bound magazines are" and "Locate and list a reference book that represents one of your interests". The first team that answers all the questions correctly wins a prize. This activity will let the groups learn a lot more about the library than they knew before. Next activity is Readers Theater. This activity can help students become more excited about material in classic works of literature that are found in the library. First select several groups of students in a class or grade to put on a presentation of a scene or two from a work of fiction. The presentation can be funny, serious or a mix of both. Try to encourage students who would not normally participate by making it a competition of some kind with a......

Words: 586 - Pages: 3

Free Essay

Activity

...Community Service Department Activity Guide Summer 2015 REGISTER ONLINE BEGINNING MONDAY, MAY 4 Create Your User Account – See Page 2 Registration (520) 421-8677 • www.casagrandeaz.gov Summer is upon us and the temperatures will really begin to warm up. Within our summer activity guide, you will find several pages of cool opportunities to combat the heat. The newly renovated Palm Island Family Aquatics Center offers open swimming, special splash events, swimming lessons, a swim team, aerobics and Zumba classes. If you would like to use the facility for a private party or corporate event - those rental opportunities are available as well. Enjoy your summer evenings playing in a few outdoor sports leagues such as softball and pickle ball or indoor activities such as basketball and volleyball. The Len Colla Recreation Center and the Dorothy Powell Senior Adult Center both provide daily exercise, arts and educational programming in a very friendly and comfortable setting. Not to be outdone - both the Main and Vista Public Libraries offer a tremendous assortment of youth, teen and adult programming. The Summer Reading Program kicks off on Saturday, May 30th at the Main Library, please circle that date and stop by and enjoy the festivities. Both libraries will also be hosting free technology classes throughout the summer for those 18 years of age and older. Learning is a very cool thing! You will also notice several enhancements being made this summer......

Words: 6060 - Pages: 25

Free Essay

Aacsb Table 10-1: Summary of Faculty Qualifications, Development Activities, and Professional Responsibilities

...AACSB Table 10-1: Summary of Faculty Qualifications, Development Activities, and Professional Responsibilities Date Range: January 1, 2007 - August 1, 2012 Accounting: Professor | | | | | | | Five-Year Summary of Development Activities Supporting AQ or PQ Status | | Name | Highest Earned Degree & Year | Date of First Appointment to the School | Percent of Time Dedicated to the School's Mission | Acad Qual | Prof Qual | Other | Intell. Contrib. | Prof. Exper. | Consult. | Prof. Develop. | Other Prof. Activities | NormalProfessionalResponsibilities | | | | | | | | | | | | | | Som Bhattacharya | Ph D, 1994 | | 100.0 | YES | | | 12 (5) | Service: 0Work: 0 | 0 | 0 | Editor/Review: 6Other:13 | UG, GR, RES, SER and ADM | Intellectual Contributions (12) Hopwood, W., Bhattacharya, S., Premuroso, R. (2011). Tasteless Tea Company: A Comprehensive Revenue Transaction Cycle Case Study. Issues in Accounting Education, 26(1), 163-179. Cao, J., Nicolaou, A., Bhattacharya, S. (2010). A Longitudinal Study of market and Firm Level Factors Influencing ERP Systems’ Adoption and Post-Implementation System Enhancement Options. 7th Annual International Conference on Enterprise Systems, Accounting, and Logistics. Rhodos: ICESAL. Behara, R., Bhattacharya, S. (2008). DNA of a successful BPO. Journal of Service Science, 1(1), 111-118. Premuroso, R., Bhattacharya, S. (2008). Do Early Members of XBRL International Signal Superior Corporate Governance and......

Words: 51731 - Pages: 207

Free Essay

Summary

...Alphabetic Index and Tabular List Memo Isaak, Shiboyan 201 1/30/2016 HCR Alphabetic Index and Tabular List Memo In this summary I will like to illustrate to very important topics which are “Tabular index & Tabular list memo”. This two will be mentioned and discussed with detail of their foundation and what they mean. I also like to state the fact on what problems might occur if proper coding is not used by those who are in charge of it. The ICD-10 is split into alphabetic index & tabular list. Alphabetic index’s which provides an index’s of disease descriptions in alphabetical list of terms and their corresponding codes. The alphabetic index’s consists of parts which are: indexes of disease & injury, external causes of injury, table of drugs, table of neoplasms & chemicals. The tabular list is a structured list of codes divided into chapters based on conditions & body systems. Tabular list consists of categories, subcategories and codes and when many times a specified code is not available for a condition then it is put through tabular list for the code to be specified. Tabular list descriptions are listed in more than one manner as well as made up of 21 chapters of disease, description and their codes. The first part Alphabetic index’s use and purpose is to organize the list of indexes of disease descriptions in alphabetical list of terms and their corresponding codes plus helps the medical staff member better locate the description matching the......

Words: 451 - Pages: 2

Premium Essay

Summary

...Riordan Manufacturing Bottlenecks Summary Team Operation Overload Sherry Davis Gualandi, Telechia Miller, Tejas Shah, Kara McRae OPS571-Organziational Management James Ziegler July 25, 2011 Riordan Manufacturing Bottlenecks Summary Through the learning team discussion, potential bottlenecks are identified and organized by department. This will provide insight for operations to focus efforts where the largest constraints can be minimized for the greatest return. Bottlenecks or constraints Bottleneck issues with excessive lead time from Chinese motor distributor 1. Build safety stock of fan motors 2. Possible cost breaks for larger orders Riordan initiative to lessen polymer safety stock 1. Determine manufacturing requirements 2. Less stock on-hand since provider is local Potential closing of Michigan location, or re-purposing plant for other plastics manufacturing 1. Michigan manufactures custom plastic parts for fans 2. China also manufactures custom plastic parts for fans on a global basis 3. Quality issues in the Michigan plant on medical supplies IT Department 1. New technology being used, learning curve 2. Potential for human error as a bottleneck Legal Department 1. Logistics of getting materials to Hangzhou location 2. Infrastructure from Hangzhou Bay to Shanghai Operations Department 1. Manual order forms, inventory process 2. Human error, employee reliability Personnel Adding line managers will give a steady......

Words: 723 - Pages: 3

Premium Essay

Summary

...Third Week Article summary is about the article titled “Read –Only Participants: A Case For a Student Communication in Online Classes” is about the value of communication in online modules as well as the success a scholar experiences when they pass an online module. The purpose of this article is to explain what the researchers conducted in an eight-week analysis of students from the online module. The analysis used the strategy to observe online communication and classroom activity used by the student’s primary dynamics like diversity, geography, and maturity. Additionally, the data gathered by Nagel et al (2009) about the scholar’s success and failures were documented. When they had a completed online module they concluded that the modules that had the discussion forums invited the student’s to be proactive in interaction with fellow students and the instructor. By writing quality responses, a student’s sense of community is established and communication is improved. Students having inquiries formulated by the instructor or fellow students that have been commented on by the instructor or the other students, have enhanced the online modules. Without the communication between the instructor and the students the online module would fail. When a student is not successful with their goal to complete the module it is because of lack of communication with the students and the instructor. The purpose of the article is to encourage communication within the online module......

Words: 348 - Pages: 2

Premium Essay

Mpc in-Class Activity

...Activity 15 The Bellagio casino and resort is a diverse organisation offering products in a range of areas including gaming, entertainment, conferences, dining and accommodation. Address the following questions in relation to this case: 1. Briefly describe the objective(s), strategy and control problems faced in the organization. Objectives: The Bellagio Hotel and Casino is designed with a wealth of amenities designed to differentiate itself from the competition. Richly appointed rooms and suites, private gaming salons, stunning restaurants and a stunning waterfall display all drive up the cost of doing business but allow the Bellagio to command a higher rate. Strategy: Control problems: 2. Describe contingent factors (as discussed in seminar 11) that are relevant in the determination of the MCS choices at the Bellagio 3. Discuss the potential control costs (both direct and indirect) of MCS. Evaluate whether the MCS is appropriate given these control costs Activity 16 For each of the statements from the seminar 8 in-class exercise, explain why they are not logical: * The last three times I have had a cold I took large doses of vitamin C. On each occasion, the cold cleared up within a few days. So vitamin C helped me recover from colds. Post hoc X may not be the cause of Y just because X is followed by Y. in this case, taking vitamin C may not cure cold just because the cold cleared up after taking vitamin C. This inference is not warranted since this might......

Words: 789 - Pages: 4

Premium Essay

Mpc Analysis Jan 2012

...On the 19th of January 2012, the Monetary Policy Committee (MPC) announced that the repo rate was to remain unchanged at 5.5% which in turn resulted in the prime rate remaining unchanged at 9%. This decision was the seventh consecutive decision to keep rates unchanged which is consistent with the Reserve Bank’s policy of maintaining low market volatility. Since the previous MPC meeting growth prospects have weakened and the outlook for inflation has deteriorated. Jill Marcus focussed a great deal of her speech on the drastic uncertainty that currently exists in world markets as well as the fine balance that needs to be maintained between accurate inflation targeting and growth prospects in the South African economy. In the current economic environment uncertainty is extensive and all-encompassing. One of the bank’s major considerations was to maintain orderliness of markets and to provide as stable an environment as possible to enable the South African public to make informed future planning decisions. The central bank has a dual objective of fostering growth in the South Africa economy as well as targeting a reliable inflation band of 3-6%. As these two objectives are often inversely related, the MPC’s decision making process is a difficult one. Many financiers argue that the primary objective should be to provide South Africa with a stable and predictable inflation rate to enable business and individuals to set accurate budgets and plan for the future. However Trade......

Words: 898 - Pages: 4

Free Essay

Summary

...Strayer University | Summary | “Farm Girl” | | Alli Brown | 4/19/2012 | | This is a summary of Jessica Hemauer’s “Farm Girl.” This was a narrative essay where the writer, Jessica Hemauer, talks about her childhood growing up on a farm. I believe that the audience for this essay was more than likely a teacher or professor. The tone was not set for the essay as a whole. Depending on the part you were reading in the essay, the tone goes through many different emotions from angry to respectful and patient to sad and depressed then to happy. My emotional response to this essay was that growing up on a farm must be very hard on children. I felt bad that she and her brother and sisters had to get up so early to do chores around the farm, while other children their age were still soundly sleeping in their warm, cozy beds without a thought of waking up anytime soon. There are many points of this essay that stuck out to me personally, however, the main point was very clear; that growing up on a farm was very difficult as a child but, made her a more mature, responsible and strong willed adult. Jessica and her brother and sisters had a very strict, time sensitive routine every morning before school in order to get all the various chores and jobs done as well as shower, get dressed, eat breakfast and make it to the bus for school. The farm had to come first before anything else; it was the entire family’s first priority. The children had to face harsh weather......

Words: 539 - Pages: 3