Posts

Showing posts from November, 2006

Sunil Bharti Mittal from Financial Times...

This article is picked from Financial Times. For more details, please visit www.ft.com

Profile: Sunil Bharti Mittal
By Jo Johnson in New Delhi

Published: November 27 2006 08:48 Last updated: November 27 2006 08:48

One train can hide another, goes the famous warning sign at French railway junctions. The same might be said for Indian entrepreneurs. In a world agog at the success of steel baron Lakshmi Mittal, the Carnegie of the modern era, the extraordinary rise of his unrelated namesake, Sunil Bharti Mittal, chairman of Bharti Enterprises and the czar of Indian telecoms, has gone relatively unnoticed. That is about to change.

Whereas Lakshmi Mittal left India to build up his group overseas and is only now starting to focus on India, Sunil Bharti Mittal, 49, has done exactly the opposite. From an unassailable position of strength in the Indian mobile telecommunications market, where it has a market share of over 25 per cent, Bharti is not only itself going global but also becoming the par…

10 Myths on Activity Based Costing

Image
Dear Management Accountants,

Activity Based Costing has not became popular in India to what ever extent it deserve. There are so many Myths as far as this concept is concerned. This concept is developed to ascertain the accurate process cost data on activities and products and can be used for accurate product cost data, cost & OH control , identification and elimination of non- value added activities etc.,.

But in practice, in India, Its adoption is very limited and heared several comments Against its use and the most common are listed below.
ABC systems are too difficult to implements and use: ABC systems are too costly; and ABC systems are too complex to understand Improving our existing system will do the job: All that we need are more cost centers; Machine-hour systems save the time; and A cost system should be kept simple. We do not need more accurate product costs: We know what our products cost; and The market sets prices, so we do not need product costs. Cost systems play a l…

BEST PRACTICE MANAGERIAL ACCOUNTING WITH mySAP™ ERP Financials

Image
I have been involved in SAP Implementation for a couple of years and I have seen the best companies implement SAP and they don't regret.

SAP offers the best in management accounting and I could not resist promoting the best ERP solution

INCREASE TRANSPARENCY, IMPROVE ANALYTICS, MANAGE PERFORMANCE AND GROWTH

Overhead management

Automatically assign simple and complex costs to cost centers, internal orders, or business process in a structured, traceable mannerLeverage best practice cost-accounting methodologies for deeper insight into variances, capacity and absorption modelsImprove the accuracy of internal job costingComplete variance analysis to understand cost overagesActivity-based costing

Use template allocations to easily execute complex allocationsLeverage full integration with logistics and operational systems to assign accurate operational costsProduct costing

Provide detailed information on production costsCalculate COGM and COGS at each step of the production processSupport pr…

Amazon