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    Costing Process of Selected subsidiaries of United Enterprise and Company Limited

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    An Internship report submitted in fulfillment of the requirement for the degree of Masters of Business Administration from the University of Dhaka

    Executive Summary

    The report evaluates costing process of selected subsidiaries of United Enterprise and Company Limited. In doing so, author analyzed the cost structures and taken some interviews of different levels of people associated to the selected subsidiaries of the company. He also collected some secondary data from United Group website to investigate the true information of the selected subsidiaries within the company.

    After evaluating the information found in the interviews and secondary data, the author has concluded that there is no specific cost structure within the selected subsidiaries of the company. But the “Cost plus Profit” method is mostly followed by the selected subsidiaries when the profit margin is set by the management of the company.

    The report suggests management and other regulatory authorities to take necessary steps for the further development of the costing procedure of the selected subsidiaries of the company. Finally, the report intends playing crucial role in expanding awareness among the stakeholders about the costing process of the selected subsidiaries of the company.


    Background of the study:

    Costing is important for both manufacturing and non-manufacturing organization. The process of costing should be maintained properly specially in the manufacturing sector to ascertain and allocate the costs to the products effectively. There are many types of costing procedures in accounting. They are: job costing method, process costing method, ABC costing method, cost plus profit method etc. To compare the real costing process with theoretical knowledge, United group is considered in this report. The group consists of more than 27 subsidiary companies under the control of UECL. Among them 3 subsidiaries are taken as a sample to observe the trend of their costing system. The 3 subsidiaries are: United Polymer Limited, United Lube Oil Limited and Neptune Land Development Limited.

    Statement of the Project Issue

    • What are the prospect of regulation?
    • What are the drawback
    • Limitation CSMS
    • Objective of the Study (Major and Specific Objective)
    • In order to find out the costing procedures of the selected subsidiaries of United Enterprise and Company Limited, several evaluation of data are applied here.
    • Significance and Rationale of the Study
    • Scope and Limitations

    Literature Review

    (Martins, Jorge, & Sa, 2013) explain how a stakeholder attitude concentrated on a case-study research was applied to define a technique to be used across the Portuguese seaport administrations (SA) to rationalize the tariffs to be applied for a diversity of services rendered by these entities. The research included both the Portuguese maritime transport regulator (IPTM) and the SA in the diversified steps that led to the proposition of a new technique to be used in cost calculation and reporting. Working as consultant-researchers, the researchers have considered a variety of data sources, while including users and suppliers of information in the design of the defined technique.

    The general acceptance of a set of regulations regarding the lowest levels of harmonization in calculating tariffs based on cost coverage was applicable thanks to a technique that has advanced a collaborative and interactive procedure involving consultants and clients. The proposed strategy respects the prime standards and good exercises of cost accounting, namely those associated to cost traceability, classification and controllability. However, it indicates how certain components with impact on cost structures of seaports should be determined according to the new financial accounting standards. The technical solution defined reflects a good compromise, while cost accounting processes in the Portuguese SA are still under development. The study states the treatment of a case-study methodology to the resolution of a problem where necessities of customization and harmonization were important for expanding the quality of the solution, as supposed by both the regulator and SA.

    (Christ & Burritt, 2017) evaluates how a latest tool, material flow cost accounting (MFCA), can efficiently help and be operated to enhance food waste management in the restaurant industry, thereby expanding the financial possibility and environmental performance of restaurants. The research brings together two previously unrelated paper streams – MFCA and restaurant waste management – with special focus on food waste. The benefits of operating MFCA for evaluating food waste in the restaurant industry are obtained from the joint literatures. These comprise simplicity and low cost of function of the tool, as well as the potential for evaluation on a case-by-case basis to describe the benefits for reviewing and managing food waste in the industry. This practical research initiates the MFCA tool to the restaurant industry. It emphasizes the necessity for restaurants to execute MFCA for themselves for it to be effective. It also motivates small restaurants to work together to attain the resource and financial benefits MFCA can provide. It is the first research to combine the internationally recognized International Organization for Standardization (ISO) 14051 MFCA literature with the challenge of food waste management in restaurants.

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