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 For the task selected organization is Tesco to
attain objective of reduction in costs and
enhancing the value of business. Preparation of
cost report is done by considering entire fixed
variable and semi variable costs which are
incurred in procedure of production (Reid,
2002). While computation of total cost of Tesco
cost for all departments has been considered
which are manufacturing, administration and
selling and distributing. Calculation have been
done on the basis of unit costing from which
variances can be computed.
 Preparation of Cists reports has been done on
the basis of operation in which company is
dealing or products which are produced by
them. For analysis of reports of cost, budgeted
and actual figures are used by company. As per
the differences in figures variances are
computed whether that are negative or positive
(Bardy, 2006). From such analysis it can be said
that financial aims are attained by business or
not. Quality of performance will be described
for Tesco with analysis of variances.
 For identification of improvement in operations of
business two most suitable techniques which can
be used by Tesco is monitoring and assessment of
key areas of cost report.
 Through the procedure of monitoring variance can
be discovered by Tesco between budgeted and
actual figures (Kinney, and Raiborn, 2012). With
the estimated figures budget can be prepared for
actual units produced by business and comparison
can be made.
 Crucial Areas in report of Tesco are total cost of
production, administration and selling &
distribution department. With this
management makes pricing and output
strategies which should be adopted by business
(Burns, and et. al., 2004). With this information
is attained for effectiveness and efficiency of
product and cost. It shows how efficiently
resources are allocated by business for various
department and their capability ton generate
revenue.
 To attain overall improvement in performance by
Tesco management of organization should be
focused on techniques of cost reduction and
several techniques of quality management (Banks,
2008).
 Following are techniques which can be adopted
by business
 Value chain analysis
 Total quality management
 Added value system

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 Value chain analysis
 in this technique main focus of business to attain
maximum satisfaction of their customers by providing
them good quality of work better than competitors
(Obura, and Bukenya, 2008). It concentrate on entire
activities which begins with raw material and end with
conversion of it in finished goods.
 Total quality management
 in the modern era of competition it is getting harder to
survive. With the help of technique of total quality
management satisfaction of customer is boosted up by
providing them work with good quality. It is focused
on prevention rather than inspection.

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 Added value system
It is powerful tool for analysis and strategic planning of
business. It is focused on earning high profits from
customers by rendering quality services. Ultimate goal of
this technique is minimize the cost and enhancement of
value (Vanderbeck, 2012). Procedure of it is comprises of
inbound and outbound logistics with operations of
marketing and sales and providing services ton
customers.
Hence all the techniques are focused on improvement of
quality and minimization of cost (Rutherford, 2002). With
it effective operations can be done and improvements can
be achieved in performance of Tesco.
 Vanderbeck, J. E., 2012. Principles of Cost Accounting. 16th ed. Cengage
Learning.
 Reid, P., 2002. A critical evaluation of the effect of participation in budget
target setting on motivation. Managerial Auditing Journal.
 Burns, J. and et. al., 2004. Management accounting education and
training: putting management in and taking accounting out. Qualitative
Research in Accounting & Management.
 Kinney, R. M. and Raiborn, A. C., 2012. Cost Accounting: Foundations and
Evolution. 9th ed. Cengage Learning.
 Banks, A., 2008. Budgeting. 3rd ed. McGraw-Hill Australia.
 Bardy, R., 2006. Management control in a business network: new
challenges for accounting. Qualitative Research in Accounting &
Management 3(2).
 Obura, O. C. and Bukenya, K. N. M. I., 2008. Financial management and
budgeting strategies for LIS programmes: Uganda's experience. Library
Review.57(7).
 Rutherford, A. B., 2002. The production of narrative accounting
statements: An exploratory study of the operating and financial review.
Journal of Applied Accounting Research.
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