Describe how managerial accounting is different from cost accounting.To plan for reduced budgets, she must first identify where costs can be cut or reduced and still keep the agency functioning. Below are some data from the past year.

Details: Consider the following scenario:

Dr. Stephanie White, the Chief Administrator of Uptown Clinic, a community mental health agency, is concerned about the dilemma of coping with reduced budgets next year and into the foreseeable future but increasing demand for services. To plan for reduced budgets, she must first identify where costs can be cut or reduced and still keep the agency functioning. Below are some data from the past year.

Program Area

Costs

Administration

Salaries:

Administrator $60,000

Assistant $35,000

Two Secretaries $42,000

Supplies $35,000

Advertising and promotion $9,000

Professional meetings/dues $14,000

Purchased Services

Accounting and billing $15,000

Custodial $13,000

Security $12,000

Consulting $10,000

Community Mental Health Services

Salaries (two social workers) $46,000

Transportation $10,000

Outpatient mental health treatment Salaries:

Psychiatrist $86,000

Two Social Workers $70,000

In an Excel spreadsheet:

Provide a dollar range of costs to reduce budgets (worst and best case analysis).She needs to cut $94,000 in cost. Prioritize those cuts that can be made without impacting the operation or quality care of the organization.For more information on creating Excel Spreadsheets, please visit the Excel Lab.

In addition to the Excel spreadsheet required to support your responses, you must prepare an APA formatted paper that will address the following:

Describe how managerial accounting is different from cost accounting.

Describe the lean production philosophy.

Compare and contrast accounting principles in lean production to those of typical production.

Describe how you would advise Dr. White to prepare for reduced budgets.

Submitting your assignment in APA format


 

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