Paper P2 Performance Management: Too Many Students Offer Weak Generalisations when They're Required to Explain a Particular Technique Or System. It's Essential to Focus on the Distinguishing Features of the Subject at Hand (Study Notes) - Financial Management (UK)

Paper P2 Performance Management: Too Many Students Offer Weak Generalisations when They're Required to Explain a Particular Technique Or System. It's Essential to Focus on the Distinguishing Features of the Subject at Hand (Study Notes)

By Financial Management (UK)

  • Release Date: 2011-04-01
  • Genre: Industries & Professions
Paper P2 Performance Management: Too Many Students Offer Weak Generalisations when They're Required to Explain a Particular Technique Or System. It's Essential to Focus on the Distinguishing Features of the Subject at Hand (Study Notes) book review score

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Paper P2 Performance Management: Too Many Students Offer Weak Generalisations when They're Required to Explain a Particular Technique Or System. It's Essential to Focus on the Distinguishing Features of the Subject at Hand (Study Notes) Financial Management (UK) Book Review Score: ★★★★★ 5/5 stars

In recent years a large proportion of candidates have scored low marks when asked to describe the characteristics of various business methods and their associated costing systems. Each approach has unique characteristics that you need to cover in your answers rather than giving a generic response that mentions issues that may be common to several topics. Consider one such system, Kaizen costing, for example. A good answer in this case will define the term; introduce the theory and its practical application; and explain how it relates to target costing, total life-cycle costing and standard costing. As an introduction to the theory and practical application of Kaizen costing, let me explain my first encounter with it in a business setting. During my years as a management accountant in the telecoms industry I experienced several business processes, including just-in-time production, benchmarking and flexible manufacturing, along with their associated costing systems. My employer at the time, a global telephone manufacturer, needed to embrace any business technique that would help it to stay competitive-and total quality management (TQM) was a technique that attracted a lot of its attention.

Paper P2 Performance Management: Too Many Students Offer Weak Generalisations when They're Required to Explain a Particular Technique Or System. It's Essential to Focus on the Distinguishing Features of the Subject at Hand (Study Notes) book review; book recommendations; Industries & Professions books;.

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