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The material explains manufacturing accounts as final accounts for manufacturing businesses, then details further issues such as transfer pricing, unrealised profit provisions, and the prudence concept. 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They focus on costs associated with producing goods, rather than giving detailed breakdowns for individual products.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why is a provision for unrealised profit (PURP) necessary?",{"text":117,"@type":113},"PURP is required due to the prudence concept: anticipated losses must be recognised, while profit should not be recognised until realised. Transfer pricing can cause closing inventory to include unrealised profit, so inventory value must be adjusted to cost.",{"name":119,"@type":110,"acceptedAnswer":120},"How does budgetary control work?",{"text":121,"@type":113},"Budgetary control involves delegating financial planning to managers, then evaluating their performance against the budget. 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\n3001200110011BRENDAN CASEY  \n200010101016011000011000000411110000110101000  \n3110013100111000010000110011010101010101001000  \nAQAA20101111000001010101000101010110001010100101010110DC0000001110000001101010004100110011ACCOUNTING01010100111061UNIT:4 FURTHERASPECTSOF013111000000000010101L01040100000900MANAGEMENT01000001000ACCOUNTING010101000D00014100TI101010100101010100  10000    1000000000110000001010100011001100110101018102010101010101010101010101010D10101000000060000000011100000000000110101000030900000000    11111REFERENCE  \n30001114000210MUST NOT BE010101010101010657.REMOVED FROM000    1i1lll046ROOMCAS0101010101010300010101010U 0DDG011  \n14  \nNN  \n9g  \n# Unit 4 Further Aspects of ManagementwAccounting\n\nBy  \nBrendan Casey  \n# Other Titles in this Series\n\nAQA AS Accounting  \nUnit 1 Introduction to Financial AccountingUnit 2 Financial and Management Accounting  \nAQA A2 AccountingUnit 3 Further Aspects of Financial Accounting  \nISBN 9781500685201  \nCopyright ◎Brendan Casey 2016  \n# Table of contents\n\nManufacturing accounts3Further budgeting5Types of costs &contribution10Break-even analysis12Marginal costing15Absorption costing20Standard costing24Capital investment appraisal28  \nSocial accounting31  \nActivity Based Costing(ABC)32  \nAPPENDIX 1-Manufacturing &Income statement layout andextract from Balance Sheet34APPENDIX2-Budget Layouts36  \nAPPENDIX3-Marginal cost statement38  \nAPPENDIX4-Standard Costing Reconciliation Statements39  \n# About the author\n\nThe author is Head of Accounting at Ashbourne Independent SixthForm College in London,and is a graduate of the London Schoolof Economics.He has been teaching the AQA A level accountingsyllabus for over 15 years.  \n# Aim of this book\n\nThis book is intended as a quick reference revision guide.It'sparticularly aimed at the written questions,which students oftenstruggle on,but account for about 20-25%of the exam.It alsocontains appendices of important formats,ratios and definitions.  \n1*  \n# Manufacturing accounts\n\n1  \nManufacturing accounts are the final accounts of manufacturingbusinesses.  \n## 1.1 Layout\n\nSee appendix 1.  \n## 1.2 Limitations\n\n·  Problem of classifying direct and indirect costs -oftenestimates are used therefore the figure for prime costs andfactory costs may be estimates as well.  \n·  Problem of valuing work-in-progress-this may bedifficult to measure accurately.  \n·  Lack of detail on the cost of individual products-manufacturing accounts give the total cost production.They don't give any breakdown om individual products.  \n·  No information on efficiency-we can't tell whether themanufacturing was done efficiently or not because we'vegot nothing to compare it to.  \n·  Transfer pricing-this is an estimate and can be difficult  \nfor the non-accountant to understand.  \n## 1.3 What is the purpose of transfer pricing?\n\n·  To give an estimate of how much of the gross profit is dueto the firm manufacturing the goods themselves instead ofbuying them from an outside supplier.  \n·  It can be used by managers to make “make or buy”  \ndecisions-if the costs of manufacture are higher than thecosts of supply they may as well buy in the goods insteadof making them.  \n● It can be used to motivate manufacturing staff by  \nencouraging them to cut costs and keep competitive withthe costs of supply.  \n·To charge the retailing section of the business a morerealistic price for the goods.  \nManufacturing accounts  \n·  It can be used as a basis for calculating bonuses formanufacturing staff.  \n## 1.4 Problems of transfer pricing/arguments against transfer pricing\n\n·  It can give an unrealistic view of factory profitability unlesscareful research is done on comparing the costs ofmanufacture with the costs of supply.  \n·  It doesn't increase or decrease gross profit and involvesextra effort so isn't worthwhile.  \n·  It's difficult to understand for non-accountants-it justconfuses them.  \n## 1.5 Why is it necessary to create a provision for unrealised prof","cbCaipkRq8FZU3iP","https://ap.wps.com/l/cbCaipkRq8FZU3iP","pdf",1390127,48,"English","# Manufacturing accounts\n## 1.1 Layout\n## 1.2 Limitations\n## 1.3 What is the purpose of transfer pricing?\n## 1.4 Problems of transfer pricing/arguments against transfer pricing\n## 1.5 Why is it necessary to create a provision for unrealised profit (PURP)?\n# Further budgeting\n## 2.1 Definition of a budget\n## 2.2 Budgetary control\n## 2.3 Types of budget\n## 2.4 Budget layouts\n## 2.5 Purposes/benefits of budgets","[{\"question\":\"What are manufacturing accounts and what do they show?\",\"answer\":\"Manufacturing accounts are the final accounts of manufacturing businesses. They focus on costs associated with producing goods, rather than giving detailed breakdowns for individual products.\"},{\"question\":\"Why is a provision for unrealised profit (PURP) necessary?\",\"answer\":\"PURP is required due to the prudence concept: anticipated losses must be recognised, while profit should not be recognised until realised. Transfer pricing can cause closing inventory to include unrealised profit, so inventory value must be adjusted to cost.\"},{\"question\":\"How does budgetary control work?\",\"answer\":\"Budgetary control involves delegating financial planning to managers, then evaluating their performance against the budget. Corrective action is taken where necessary after comparing actual results with budgeted figures.\"}]","Unit 4 Further Aspects of Management - Accounting | PDF",1789961097,121]