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1.1Preparation of report for cost analysis 
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.
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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.
1.2 Identification of potential improvements through performance indicators 
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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.
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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.
1.3 Techniques for reduction of cost for enhancement of value and quality
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 www.onlinedissertationwriting.co.uk
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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. ď‚Ą
References
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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