Activity-Based Accounting Assignment Help

Activity-Based Accounting Assignment Help

Before starting an activity-based costing assignment you must have knowledge about what an activity-based costing assignment is? Basically, it is an accounting method that is utilized by a firm to identify the activities that it performs. It identifies the relationship between activities, products and their cost. We are here to help you if you are looking for any help related to your activity based assignments. You can get all possible accounting tips and Activity-Based Accounting Assignment Help from us.

Basics of activity-based Accounting assignment help

As you start to write an activity-based costing assignment, firstly you must have knowledge about the cost of a product being considered for the assignment. The cost of the product is defined as the sum of the cost of all activities required to manufacture and supply of product to the customer.

• Cost is not directly related to the production.
• Activities are gobbled up by the services and products.
• By tracing all the activity based expenses the final cost of the product is determined by the activity-based costing system. Each product is charged on the basis of the extent to which the product is used as an activity.
• The main objective of the activity-based costing is to assign a cost to the product which reflects the physical dynamic of the business.
• This system provides us with the ways to allocate cost to indirect resources, support activities, customer, business processes and products.
• Recognized that most of the resources in the organization are not for the physical production of units of the product but it is to provide broad array for activity support.

All these concepts form the basis of activity based accounting for which you can procure Activity-Based Accounting Assignment Help from TotalAssignmentHelp.com

Major pros of activity-based Accounting system

Our expert states that the usage of the activity-based costing system is significant to business and provides customized products and services. Our Activity-Based Accounting Assignment Help defines that a customized production environment requires cost allocation of real indirect cost and identify the real cost of the product. There are a few advantages of the activity based accounting help.

• This system determines the cost of the product more accurately because it focuses on all the cause and effect between the cost and activity related to the production.
• The activity-based system determines whether the selling price of the multi-product is fair and precise under the activity-based costing system. The main reason behind this is the overheads are allocated according to the relevant cost drivers.
• Overheads costs consist of fixed and variable activities and it becomes easier to determine by monitoring the activities.
• An activity-based costing system provides all the necessary information that is important to make a decision about the profitability of different products.
• By allocating correct overheads it occupies a considerable portion of the total cost.

Design and implementation of activity-based costing assignment.

When dealing with the activity based system you should have proper knowledge about the system including, how it takes shape and how the business executes in an effective manner. When you consult our experts for Activity-Based Accounting Assignment Help, our experts explain the below-written steps for the implementation of the system.

1. Regulate the cost of all the products /objects.
2. Determine the direct cost of services like direct material, direct labor, and direct expenses.
3. Determine the final cost of allocation based on the utilization of overheads
4. Determine the overheads cost related to particular areas.
5. Compute per unit rate.
6. Calculate the overhead cost of allocation to products.
7. Identify the final cost of the products.

Areas of implementation
Our experts make you aware of the areas of implementation.

• High overheads.
• Multiple products or product diversity.
• Customer selection option
• Variety of services.
• Strong competition.

If you need detailed knowledge of these areas to make your assignment more effective our Activity-Based Accounting Assignment Help experts provide you with the best possible option and assignment help.

Activity Drive: Our experts in their Activity-Based Accounting Assignment Help describe the responsibility of the activity driver which is generally used to determine the link between activities and cost objects like products, customer etc. The activity driver is selected on the basis of a subjective trade-off between cost and accuracy. We can give you detailed knowledge on this subject.

The level of activity involved in the cost-based accounting system.

Activity-Based Accounting Assignment Help provided by our experts helps you in understanding several levels of activities that the organization needs to participate while implementing the activity-based costing system.

Unit level activity- This level calculates the cost of all direct activities like direct material, direct labor, and maintenance of machine etc.

Batch level activity- This level calculates the cost of a group or batch-related jobs like purchase order, quality test, machine setup etc.

Product line activity- This level calculates the cost of the engineering changes made on an assembly line, product design, warehousing and storage of all product line.

Facility support activity - These are the activities which involve the cost of administrative activities like property tax, plan security, building depreciation, maintenance cost etc.

Challenges while implementing activity-based costing system

After reading all these implementation activities you must understand how this system is executed. Here, our experts can give you the information about the challenges that business may face while implementing the activity-based costing system. Our experts are always there to solve your queries and to provide you excellent Activity-Based Accounting Assignment Help..

Job starts with making inquiries from employees and the higher management approves the initial plans related to implementation.

A cross-functional team of technicians takes care of the design and implementation of the system. This team involves representatives from departments including marketing, accounts, IT, engineering, etc.

In order to prevent the wastage of resources and time, our consultant takes care of activity-based costing services.

Why there is a need for activity-based costing system?

Our activity-based costing experts define few of the points that show why there is a need for this costing system and when can be the activity-based costing system best employed in an organization.

• Direct labor is a very small portion of total cost.
• It's hard to explain the product line profit margins
• Relation of sale and profit because sales are increasing and profits are declining.
• Line managers do not relate with product cost report.
• Cost report is not used by the marketing team.
• High-profit margins reports by some products

Limitation of activity-based costing assignment

Our experts define some of the limitations of this activity-based costing system from a business point of view. These are as follows.

• By using this costing system it is difficult to identify the overall activity cost.
• Difficult to select the most suitable cost drive.
• Not easy to calculate the cost on the basis of activities.
• Not for small manufacturing firms.

One thing should always be remembered that you need to have theoretical information with accurate calculations to calculate the exact and accurate cost of the system and only then our experts can help you to get a better result.

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