Review of Research Proposal Costing Techniques for Organisation

Question: Discuss about the Review of Research Proposal for Costing Techniques for Organisation. Answer: Introduction This research paper provides an outline for an integrated research study. Thus there has been provided information regarding the airline industry, the selected organization i.e. Emirates Airlines and its SWOT analysis, the use of accounting techniques and the challenges and issues which led the generation of the objectives of the research study. After that there has been provided problem statement, significance of the research study, research approach, data collection and plan of action. Background In present time, Tourism is regarded as one of the most prospering and lucrative businesses worldwide as individuals are keen to travel and experience new destinations around the globe and thus the demand for potential airlines in increasing day by day. With the willingness of people to spend and the improved economic condition the airline industry is getting huge attention internationally(BONHAM MAK, 2014). And the use of effective costing techniques makes the airlines more lucrative. Cost accounting is one of the major accounting processes which aims to assess the various cost of production of an organization through an assessment of the fixed costs for example an assets depreciation and input costs of every phase of production. Primarily these costs are measured and recorded by cost accounting on individual basis and then the actual results or the output is compared with the input results to support the management team of the organization in evaluating financial performance. In s etting up of programs related to cost control and in budgeting cost accounting is highly helpful as an apparatus for management. Cost accounting is beneficial in computing the unit cost of any product for reporting the cost of goods in the statement of income and cost of inventory in the balance sheet. It can be attained with various techniques such as the distribution of overhead costs of manufacturing and by the use of job-order costing, operations costing and process costing(Horngren, 2002). Various costing techniques like standard costing, absorption and marginal costing helps the management of the organization by offering variance analysis for activity-based costing, transfer pricing, revenues and costs and analysis of standard costing, capital budgeting operational budgeting, cost-volume-profit and cost-behavior. Earlier the roots of cost accounting was only in manufacturing businesses but with changing time service businesses are also recognizing the benefits of the costing techniques. For example, in a case of a banking organization it will take use of the cost accounting techniques for determining the cost realized on the processing of a check of a customer or any deposit. In the pricing of these facilities it will also offer management with guidance (Horngren, 2002). The organization chosen in the research paper is Emirates Airlines which is a segment of Emirates Group. By offering extensive services in the aviation and tourism industry, the organization has built its recognition worldwide. It holds one hundred and three terminals and has its renowned destinations in more than 65 nations. To attract and facilitate the customers the airlines offers differentiated services which are highly updated and innovative (Emirates Airline 2015). In is considered as one of the top most airlines as the organization implements competitive strategies and strong planning such as a combination of low cost and high quality of services (Maddukuri 2007). SWOT Analysis of Emirates Airlines STRENGTHS Style of management Location Brand reputation Tax advantages High quality service in low cost WEAKNESSES Negative Reports Effect of Global Crisis OPPORTUNITIES New fleet More exclusive services THREATS Increased competition Change in policies (Corneau 2013) Problem statement The aim of this research or the problem statement is to study and carry out research on the use of accounting techniques at Emirates Airlines. It is an evident fact that thorough research has been done with respect to the cost accounting and accounting techniques of Abu Dhabi and Dubai along with its use, challenges and issues. However with respect to the use of accounting techniques at Emirates, not much effort has been done and thus little research work is available for Emirates. Hence in this study we will examine that in what ways the airlines is recognizing worldwide with its use of cost effective accounting techniques. We will also emphasize on identifying the challenges related to the use of these techniques. The emphasize of this study is to identify the hurdles in implementation of these accounting techniques at Emirates and how new ways of cost accounting can be effectively utilize as a significant means for implementing these accounting techniques. Research Objectives Below listed are the research objectives of the research study for reviewing costing techniques at Emirates Airlines. To study and examine techniques for cost accounting at Emirates. To find systems and methods important for the effective implementation of accounting techniques. To study challenges associated while implementing accounting techniques.. To study role of new costing methods to implement costing techniques. Importance of the Research Study For evaluating the effectiveness of accounting techniques used at Emirates Airlines, the research study is very vital. The research study plays an important role as it will also provide significant information about the challenges associated to the use of these accounting techniques at Emirates. The study also gives emphasis on giving insight on the role of new cost accounting methods and use of new accounting techniques not only in Emirates but across the globe. And thus for future researches conducted by researchers and practitioners, the study is useful for recognizing the significance of accounting techniques globally. Along with the accounting techniques, the challenges and problems identified and discussed in the research study can be further used by researchers on a global platform. Discussion about new ways of accounting will give information about the advantages and role of new techniques in promoting cost accounting. This study can be of significant use as it will cover new accounting techniques that can be used by the accounting department and commerce department of Government of Dubai. Research Methodology Research methodology is significant for any research study as it comprises of the following elements: Approach of the approach Arguments in context with the possible happenings Field work approach and data gathering Techniques and tools techniques(scie, 2015) Research Approach Qualitative Research: It is utilized for gathering the understanding of complete details and knowledge of the research problem along with underlying causes, motivations, and views. Interviews, surveys, observations, focused groups are utilized in the qualitative research approach in the method of data collection. Quantitative research: The research problem is analyzed with the use of data which is in numerical form for the analysis by application of statistical tools. It provides a comprehensive outcome. It exposes the arrays in the study. Data is changed into cyphers or numeric form.(explorable, 2015) In this study, the approach of qualitative research has been utilized as it includes group of thoughts and views related to efficiency of accounting techniques used at Emirates Airlines. Data Collection There are various methods such as observation, survey, interview etc. for the collection of data.(people, 2015) In this research study, surveys and interviews are utilized for data collection. Interview of various experts of the airlines industry and accounting will be taken by the telephonic or face to face interview. The employees of Emirates Airlines will be given the questionnaire for survey. Plan of Action Tasks Duration Introduction 1 day Problem Statement 1 day Significance 1 day Research methodology 2 days Data collection 7 days Data analysis 3 days Findings and Conclusion 2 days References BONHAM, C., MAK, J. (2014). THE GROWING IMPORTANCE OF TOURISM IN THE GLOBAL ECONOMY AND INTERNATIONAL AFFAIRS. Georgetown Journal of International Affairs , 1. Corneau, S. (2013, December 02). SWOT analysis on Emirates Airlines. Retrieved February 20, 2015, from Travel Deconstructed: https://traveldeconstructed.wordpress.com/2013/12/02/swot-analysis-on-emirates-airlines/ Emirates Airline. (2015). The Emirates Story. Retrieved February 20, 2015, from https://www.emirates.com/english/about/the_emirates_story.aspx explorable. (2015, 04 10). Quantitative and Qualitative Research. Retrieved 04 10, 2015, from https://explorable.com/quantitative-and-qualitative-research Horngren, C. T. (2002). Management and cost accounting. Harlow: Financial Times/Prentice Hall. Maddukuri, D. (2007). Analysis Report on Study of Emergence of Emirates as a Global Airline. New Zealand School of Education. people. (2015, 04 10). Data Collection Methods. Retrieved 04 10, 2015, from https://people.uwec.edu/piercech/researchmethods/data%20collection%20methods/data%20collection%20methods.htm scie. (2015, 04 10). The importance of theory and methodology in research. Retrieved 04 10, 2015, from https://www.scie.org.uk/publications/researchmindedness/makingsenseofresearch/theoryandmethodology/