Management Accounting Paper/ Project Due August 22nd Please prepare a 5-7 Executive Briefing/ memo to the organization of your choice focused on...

Management Accounting

Paper/ Project

Due August 22nd

Please prepare a 5-7 Executive Briefing/ memo to the organization of your choice focused on understanding and managing cost.

The memo should be addressed to the President/ CEO/ Executive Director level and be focused on how understanding and managing cost can improve his or her organizations results. This organization can be a business, non-profit, or government agency. (Note: If you cannot think of an organization then please use Northeastern University)

The content of your memo could include the following approach and components:

1. Why understanding and managing cost is essential

   1. How cost can be elusive/ and how to get a better understanding

   2. Ramifications of not understanding cost

   3. Cost Structure Analysis- discuss the importance of understanding how costs behave (fixed vs. variable) … and the leverage that provides

   4. How understanding cost can make an essential difference (i.e. pricing, investments, etc.)

1. Tools and perspective that can assist in managing cost

   1. Activity Based Costing

   2. Cost-Volume-Profit

   3. Incremental Costing

   4. Target Costing

   5. Balanced Scorecard

   6. Planning and Control

   7. Etc.

1. Insights from Experts

   1. Insights from Cooper and Kaplan (Measure Costs Right)

   2. Insights from John Shank (Strategic Cost Management)

   3. Insights from Target Costing and Open Book Management

1. Recommendations/ Call for Action