Dubai Company Characteristics Activities of Dubai Respondents Case Assignment

Dubai Company Characteristics Activities of Dubai Respondents Case Assignment

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Dubai Company Characteristics Activities of Dubai Respondents Case Assignment

Table 1: Dubai Company Characteristics (Subsector Type) Activities of Dubai Respondents Percentage

Industrial Sector (57 companies)

Chemicals & Plastics 14

Engineering 12

Textiles 11

Food 14

Construction 21

Paper & Packaging 12

Electronics 11

Oil & Gas 5

100

1. Service & Trading Sector (43 companies)

Financial * 42

Nonfinancial** 58

100

*Banks, insurance, financing **Real estate, hotels, trading (retail), consultancy, education, hospitality

4M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y W I N T E R 2 0 1 0 , V O L . 1 1 , N O . 2

76%) but is moderate in contrast with our results for the

service sector, implying that standard costing has not

become obsolete among either industrial or service

companies in Dubai.

Table 5 shows the importance of various standard

costing functions in Dubai companies using a seven-

point Likert scale, with responses of four or higher evi-

dencing importance and those less than four reflecting

less importance.

The cost functions—cost control and performance

evaluation, costing inventories, and computing product

cost for decision making—were of relatively greater

importance to Dubai industrial-sector companies than

to their counterparts in Malaysia and the U.K. More-

over, these standard costing functions were of much

lower importance in Dubai’s service sector. In terms of

significance, inventory costing is the key function of

standard costing for industries in Dubai, Malaysia, and

Table 2: Dubai Company Characteristics (Total Assets in MDhs) Total Assets Industrial Sector Service Sector

Frequency Percentage Frequency Percentage

10 million-100 million 19 33 14 32

101 millioin-500 million 24 42 21 49

>500 million 9 16 6 14

Missing 5 9 2 5

Total 57 100 43 100

Table 3: Dubai Company Characteristics (Number of Employees) Number of Employees Industrial Sector Service Sector

Frequency Percentage Frequency Percentage

<100 12 21 11 26

100-500 27 47 22 51

>500 14 25 9 21

Missing 4 7 1 2

Total 57 100 43 100

Table 4: Extent to Which Companies Use Standard Costing Dubai Malaysia New Zealand U.K.

Industrial Service Japanese Local % % % %

Yes 77 39 76 70 73 76

No 23 61 24 30 27 24

Total 100 100 100 100 100 100

5M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y W I N T E R 2 0 1 0 , V O L . 1 1 , N O . 2

the U.K., and, for the service sector, budgeting is the

most significant function. Mann-Whitney U test results

reject the null hypothesis of response bias, suggesting

that the industrial-sector companies in Dubai use stan-

dard costing to a greater extent than the service sector

for the first three functions of standard costing listed in

Table 5. Again, in only one instance has this pattern

reverted toward the service sector: the use of standard

costing as an aid to budgeting. These findings, on aver-

age, are consistent with those of other studies of

Table 5: Importance of Standard Costing Functions Dubai Malaysia U.K.

Industrial Service Japanese Local Function % % % % %

Cost control and performance evaluation 90** 71 83 82* 72

Costing inventories 94* 40 89* 68 80*

Computing product cost for 88* 46 83 78 62 decision making

As an aid to budgeting 78 83* 88 67 69

Data processing economies 42 33 75 56 43

Mann-Whitney U test statistic13: *significant at 5% **significant at 10%

Table 6: Methods Used to Set Labor and Material Standards Dubai Malaysia U.K.

Industrial Service Japanese Local Method % % % % %

Standards based on design/engineering 89** 48 81* 46 51* studies

Observations based on trial runs 57 39 53 42 30

Work study techniques 44 54 25 26 42

Average of historic usage 54 76* 44 63* 44

Mann-Whitney U test statistic: *significant at 5% **significant at 10%

Table 7: Type of Standards Employed Dubai Malaysia U.K.

Industrial Service Japanese Local Type % % % % %

Maximum-efficiency standards 15 19 33 17 5

Achievable but difficult-to-attain 30 25 22 31 44 standards

Average past performance standards 47 50 39 37 46

Other 8 6 6 15 5

Total 100 100 100 100 100

6M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y W I N T E R 2 0 1 0 , V O L . 1 1 , N O . 2

industrial-sector companies in Malaysia and the U.K.

LABOR AND MATERIAL STANDARDS

The mechanisms of setting labor and material standards

are reported in Table 6. Nearly nine out of 10 industrial-

sector respondents in Dubai employed standards based

on design/engineering studies, which is comparable to

Japanese companies in Malaysia (81%). These firms

appear to be significantly more scientific in their

approach to standards setting compared to the service

sector in Dubai (48%), local Malaysian companies

(46%), and U.K.-based companies (51%). Service-sector

companies in Dubai predominantly used “average of

historic usage method” (76%).

Dubai companies—both industrial and service-

oriented—favored “average past performance” as the

type of standard employed in their costing—47% and

50%, respectively. To be realistic and attainable, howev-

er, cost standards should reflect both “past perfor-

mance” and “expected future performance.” This is

supported in our study because companies favored both

past performance and expected future performance

through design and engineering studies (Table 6).

Dubai industries have become more international in

their operations and hence are facing greater competi-

tion in global markets. Thus one would expect these

companies to review their costing standards frequently

to cope with a changing environment where new prod-

ucts are introduced daily. We found that slightly more

than half of them (52%) conduct reviews semiannually,

Table 8: Frequency of Reviewing Standards Dubai Malaysia U.K.

Industrial Service Japanese Local Frequency % % % % %

Monthly or quarterly 17 33 17 24 14

Semiannually 52 40 55 18 9

Annually 24 27 11 35 68

Continuously 5 0 17 15 6

When the variances imply that the 2 0 0 8 3 standards have changed

Total 100 100 100 100 100

Table 9: Approaches for Investing Variances Dubai Malaysia U.K.

Industrial Service Japanese Local Approach % % % % %

No formal method used (decision 39 50 26 22 48 based on managerial judgment)

Where the variance exceeds a specific 19 21 28 33 26 monetary amount

Where the variance exceeds a given 35 29 32 33 23 percentage of standard

Statistical basis using control charts 7 0 14 12 2 or other statistical method

Total 100 100 100 100 100

7M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y W I N T E R 2 0 1 0 , V O L . 1 1 , N O . 2

consistent with Japanese respondents in Malaysia

(55%). On the other hand, domestic Malaysian firms

and companies in the U.K. were more apt to review

their costing standards annually at a rate of 35% and

68%, respectively.14

When considered together, the results from Tables 4

through 8 signify that companies in Dubai have not

abandoned standard costing in their management control

decisions. In fact, they have reconfigured existing cost

accounting systems to suit their dynamic needs and objec-

tives. These findings are consistent with those from stud-

ies of Malaysian companies by Sulaiman and colleagues.

AN EXAMINATION OF VARIANCES

Generally, managers are concerned about variations in

costs, materials usage, and sales—especially those out-

side acceptable ranges. Table 9 shows how companies

approach investigating such variances. In Dubai, 39% of

industrial companies and 50% of service companies

base their costing decisions on “managerial judgment,”

compared to roughly half of U.K. companies and one-

fourth of local and Japanese companies in Malaysia. On

the other hand, 35% of firms in Dubai’s industrial sector

and 29% in its service sector dug deeper for answers

when the variance exceeded a given percentage of stan-

dard, which is similar to the rates found in the

Malaysian and U.K. studies.

Table 10 shows the importance of variances for con-

trol purposes. Some 95% of industrial companies in

Dubai were extremely sensitive to variances in sales

volume, 90% to variances in materials prices, and 87%

to variances in sales price. These responses were similar

to those in the Malaysian studies. Also, the service sec-

tor in Dubai emphasized monitoring variances in sales

volume but with wage rates and labor efficiency consid-

ered very important as well.

STANDARD COSTING IS ALIVE AND WELL

Our study enables us to add to the existing costing liter-

ature in general, and the United Arab Emirates in par-

ticular, and to compare our findings with those of

previous studies about the manufacturing sector. Our

key findings are as follows:

◆ Seventy-seven percent of the companies in

Table 10: Importance of Particular Variances for Control Purposes

Dubai Malaysia U.K.

Industrial Service Japanese Local Approach % % % % %

Material price 90** 80 94 92 69

Material usage 81 31 82 93 66

Material mix 66 36 46 52 35

Material yield 76 33 60 55 52

Wage rate 48 67** 82 70 36

Labor efficiency 58 67 88 69 65

Variable overhead efficiency 74 40 59 71 32

Overhead expenditure 83 25 69 73 69

Fixed overhead volume 61 23 50 54 28

Fixed overhead volume efficiency 42 21 39 52 18

Fixed overhead volume capacity 68 31 54 69 18

Sales volume 95 81* 100 90 70

Sales price 87** 74 92 91 69

Mann-Whitney U test statistic: *significant at 5% **significant at 10%

8M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y W I N T E R 2 0 1 0 , V O L . 1 1 , N O . 2

Dubai’s industrial sector use standard costing

compared to 39% in the service sector.

◆ “Inventory costing” is the most important func-

tion of standard costing for the industrial sector,

while “aid to budgeting” is the most prevalent

costing function for the service sector.

◆ The industrial-sector companies prefer standards

based on design/engineering studies, but the ser-

vice sector favors average historic usage.

◆ Forty-five percent of the industrial companies and

44% of service companies in Dubai use “maxi-

mum efficiency standards” and “achievable but

difficult to attain standards” in practice.

Dubai Company Characteristics Activities of Dubai Respondents Case Assignment

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