Algorithms – Adjacency Lists and Matrices

Nodes can be connected to other nodes – otherwise it would be a bleeding useless graph! :D

But how do we know which node is connected to which nodes? Welcome to the wonderful world of Adjacency Lists and Matrices!

Also, i apologise for the long pause in posts! :(

Management Accounting - More Budgeting

More budgeting

Moving on from the last post, let's talk more about how budgets work and what they're made of.

Standard costs and variances

Standard costs are the planned cost (per unit) of products or services produced. You can also have standard revenues that work the same way.

Management Accounting - Budgeting

Budgeting

Preparing budgets is what happens right after making long term strategic plans. Budget adjustment sometimes occurs after variances are observed.

A budget is pretty much three smaller budgets that combine to make a 'superbudget' of sorts:

Master budget

=

Budgeted balance sheet

AND

Budgeted income statement

AND

Budgeted cash flow statement

Budgets have 5 main benefits:

1. Promote forward thinking


2. Co-ordinate various business areas


3. Provide an authorisation system


4. Provides a system of control


5. Motivates managers to perform better

We'll talk now about how a budget is made and then go through an example or two.

Software Engineering – (System) Sequence Diagrams

Now it times to learn all about how to create a (System) Sequence Diagram (SSD).

Note: not to be confused with State Diagrams, hehe ;)

Software Engineering – Activity Diagrams

Its time to demonstrate how to produce an Activity Diagram – here we go.

Management Accounting - Pricing

Pricing

If you have a business you want to make sure that you price your products and services appropriately. Your prices should be consistent with the business strategy and also linked to the cost of producing the product or service.

Two pieces or terminology to remember:

• Price makers: Set their own price


• Price takers: Have to accept what the market dictates (this can be either a competitor or a customer)

You've probably heard of supply and demand before. The basic premise here with supply and demand is that if you sell lots of a product you can afford to reduce the price per unit, and conversely if your sales are low you'll have to increase the price.

Management Accounting - ABC

ABC

(It's as easy as 123)

ABC stands for Activity Based Costing. It has a few benefits, such as:

• It provides more accurate costs for each unit of a product (or service)


• It gives a better understanding of the business to managers

It's fairly simple to the more traditional costing methods we've looked at already, but with a key difference: ABC looks at activities as a way of accumulating costs, instead of the old method of using cost centres. So with ABC the costs will be driven by: