Hi all, pls help with my cousework.?

Question

Question 1
Explain and illustrate any Five of the following terms used in Management Accounting.Your answer should show the usage,purpose and benefit of the term.
a) Contribution Margin
b) Margin of Safety
c) Flexible Budget
d) Normal Loss
e) Under Absorbed Overhead
f) Discounted Cash Flow

Question 2
(a) Explain the term "cost centre" and describe how a company might use cost centres in a management accounting system.
(b) Explain the advantages to an organisation in the preparation of a monthly cash budget.
(c) In the context of process costing, explain the difference between a normal loss and an abnormal loss, making specific reference to the accounting treatment involved.
(d) Explain what is meant by, and give examples of, both joint-products and by-products.

Answer 1

A )Wikipedia: Contribution margin analysis
Contribution margin analysis is a technique used in brand ... Categories: Product management | Strategic management | Management accounting. Views. Article ...en.wikipedia.org/wiki/Contribution_margin_analysis
B)Wikipedia: Margin of safety
Margin of safety (safety margin) is the difference between the intrinsic value of a stock (i.e. ... said that "the margin of safety is always dependent on ...
Quick Links: History - Application to Investing - Book
en.wikipedia.org/wiki/Margin_of_safety
C) Flexible Budgeting
Volume-based flexible budgeting and hospital variance analysis based on Relative ... TRADITIONAL FLEXIBLE BUDGET ... the traditional flexible budget is only ...www.e-tba.com/flexible-budgeting.htm
E)K&F Consulting, Inc.
... Board pointed out the distinction between extended and under absorbed overhead. ... This variance has been referred to as under or over absorbed overhead. ...www.knfcon.com/LIBRARY/ARTICLES/hnkdela.htm
F)Wikipedia: Discounted cash flow
In finance, the discounted cash flow (or DCF) approach describes a method to ... Disk Lectures, Discounted Cash Flow audio lecture with slideshow ...
Quick Links: Math - Example DCF - History
en.wikipedia.org/wiki/Discounted_cash_flow

Answer 2

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Answer 3

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