Revision question on how to calculate break-even point and margin of safety.

Revision question on how to calculate break-even point and margin of safety

Bonne Bia limited is a newly formed company in the catering business founded by Kate and Paul Johnson. Kate and Paul have considerable experience in the food industry and saw an opportunity to establish a food/beverage business to service the tourist market during the four months from May to August. The business will be located in Wexford and permission has been obtained from Wexford County Council (WCC) to operate a food/beverage outlet near Curracloe beach. At present Kate and Paul are trying to decide between two possible food/beverage options. Pertinent information relating to each of the options is shown below. Initially, Kate and Paul intend to operate the outlet themselves without employing any other staff. read more

The reason why management accounting has become so important to a business.

importance of management accounting in business

Management accounting is the process of preparing management reports and accounts that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions. read more

Labour Mix or Gang Composition Variance

Labour Mix or Gang Composition Variance

Labour Mix or Gang Composition Variance arises due to change in the actual gang composition than the standard gang composition. This variance shows to the management how much labour cost variance is due to the change in labour composition. read more

Functional budget – meaning and example.

What are duties of internal auditor?

The functional budget is one that relates to any of the functions of an organization. The number of functional budgets depends upon the size and nature of business. The following are the commonly used: read more