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Managerial Accounting
Online "opaque booking websites" such as price-line and Hotwire are profiting in the existing economic climate since travelers are progressively using the internet to scout for better online packages. Similarly, "opaque pricing" has started to become ever more popular as shrewd customers respond to offers where they can book together and benefit or take their shot at purchasing a surprise proposal that safeguards the veracity of their fares and rates.
By preferring to use an online service like Hotwire or price-line, in conjunction with their own marketing campaign or as a standalone outsource for selling their vacancies and getting future bookings, the companies benefit greatly on multiple levels.
Firstly, they gain from absolutely free advertising that has tremendous outreach; these intermediaries market the products and services without any charges -- they earn from the commissions on the proceeds...
Another advantage for high-priced services like hotels and airplanes is that a convenient comparison is available at most websites as opposed to the tedious process of going back and forth between different the websites of the different service providers.
Further owing to the fact that these websites have become the go-to forum for anyone looking to travel via air and stay at a hotel, the service providers may actually lose out if they do not have an online presence on these forums. Furthermore, they can only result from the high volume of online traffic that is bound to raise their visibility and brand awareness.
Lastly, both the airlines and hotels are willing to forgo a certain amount in profits that may be generated from selling their reservations at an exorbitantly high mark-up for a confirmed reservation because that not only aids them in the long-run but also allows them to operate at full…
Managerial Term Managerial Accounting FINAL EXAMINATION Please complete the following by typing your answer letter next to "ANS" (example "ANS: c) and return to your Instructor via Blackboard by midnight, August 1, 2012: A (n) ____ is a review to determine whether the policies and procedures specified by top management have been implemented. A) management audit B) internal audit C) internal control D) internal accounting control 2) Variances A) are quantitative expressions of plans of action B) ignore areas that are
Managerial Accounting Managerial accountants are charged with all financial matters that do not pertain to the financial accounting statements. Within their company, they ensure that the company has good financial security, they perform analysis on costs and revenues, they perform budgeting, handle taxes, and their work is frequently used in strategic planning, whereby they provide the financial analysis to management to help make better decisions (No author, 2012). Some of the
Managerial Accounting Accounting Managerial accounting is different from financial accounting because it is used primarily by companies and organization to generate weekly, daily and monthly reports to help them forecast future financial events (Birnberg, 1992). The profession of managerial accounting looks at the many ways managers can help facilitate increased revenues over defined times, and the future in general. It is not concerned with investments as much as it is concerned with
Managerial Accounting Elkay is a manufacturer of sinks. The company has three plants, serving different markets. The Ogden plant is high-volume, low-margin production. The company has new technology that makes it an innovator in efficiency. The Lumberton plant focuses on high margin items. Broadview is for commercial, institutional and specialty products. The company's information provides feedback about profits that indicates one customer type provides all of the profits, and the other
That we do not find out about cost overruns until the project is completed creates a climate where managers are motivated to overlook past transgressions yet are powerless to address future ones. Lastly, I would tie performance-based bonuses either to non-financial measures or to ones based on financial accounting, subject to GAAP and other defined rules and procedures. In general, financial incentives are only necessary when there are competing
Managerial Accounting E-Company Income Statement Contribution Margin For Period Ended Dec 31, 20XX Revenue less V Mfg Cost less V Op/Selling Cost Gross Profit (Contribution Margin) Fixed Mfg Overhead Fixed S&A Exp Total Fixed Costs Net Income $4,765,000 E-Company Income Statement Absorption Method For Period ended Dec 31, 20XX Revenue Less Mfg Cost Less Op/Selling Cost Less S&A Exp Net Income $5,485,500 The gross profit margin is 75.6%. This is calculated as the (revenue -- cogs) / revenue (Investopedia, 2011). The contribution margin is similar, but does not include costs associated with goods