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Profit planning & Control

Author: Ghanendra Fago & Hiranya Niraula
  • ISBN: 9789937302012
  • Version: English
  • Price NRs. 645
  • Avaliablility: In stock
  • University: Tribhuwan University

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Today's organizations face more turbulent environment and intense competition than the organizations of the past due to increasing information explosion, rapidly changing technology, globalization, demographic changes, growing regulatory measures, and so on. In such a situation, they not only try hard for growth, but even for survival. Therefore, it is essential for the managers of these organizations to effectively and efficiently plan activities, organize resources, direct people and control operations to attain organizational goals and objectives. For all this, what is required them is the relevant information which is not fully provided by only traditional financial and cost accounting. Managers not only need information generated from financial and cost statements, but also information from forecasts, surveys, expert opinions, and so on. As a result, Profit Planning and Control evolved as a branch of accounting which provides information specially tailored to managers for effectively and efficiently performing their functions. Recently, however, managers' tasks are becoming more strategic in nature due to changing environment and intensifying competition. Therefore, a transformation is visible from the traditional management accounting to innovative Profit Planning and Control which is sometimes also termed as strategic profit planning control.
The present book deals only with the traditional concepts and techniques of profit planning and control that are covered in the MBS syllabus of Tribhuvan University and MBA syllabus of Pokhara and Kathmandu University. It, therefore, presents the basic concept of profit planning and control and its fundamental of concepts, application, advantages, limitations, process, planning and control of sales, production, material, labour, overhead, zero based and activity based budgeting, cash flow, master budgeting, CVP analysis, strategic management accounting etc.
Since this textbook is primarily written to cater to the needs of MBS and MBA students, we, therefore, hope that they will find the book worth reading and satisfying to learn the basics and advanced concepts and techniques of profit planning and control. We by no means claim, however, that the book is free from any error, but accept the fact that despite our meticulous and sincere efforts some errors might be inadvertently left. We promise to rectify them in the forthcoming editions.