Cost accounting

    Page 1 of 50 - About 500 Essays
  • Cost Accounting

    Cost Accounting Cost accounting refers to the internal financial system to track expenditures and costs within an organization. Such a system guide managers and decision-makers in their actions as they show the profit or loss of the organization within a specific period of time. Traditional accounting process considers only direct cost related to the product and skips many environmental and hidden costs. For example, if toxic materials are emitted during the development of a product, then it has a high environmental cost. Manufacturing processes that generate high amount of wastes will have a high disposal cost. These kind of costs need to be included in the accounting system to have a proper cost model of a particular product. To solve this,…

    Words: 2761 - Pages: 12
  • Cost Accounting Case Study

    with OVC (Operating Value Contribution) serving as the key performance indicator. OVC measures whether the company and its divisions/business units earn the cost of the invested capital in addition to other costs. The capital charges are therefore the core element this concept. OVC is calculated as gross margin over the total product costs (PPC total and PPC…

    Words: 1488 - Pages: 6
  • Cost Accounting Vs Activity Based Study

    A cost accounting system is a process or a method used by a business to estimate the cost of their products and to determine how a firm utilizes and earns funds. It aids management in making decisions and in the planning and control of an organization. All types of businesses, whether service, manufacturing or trading, healthcare, require cost accounting to track their activities. Therefore, different firms follow different methods for verifying cost accounting. This paper focus on activity…

    Words: 947 - Pages: 4
  • Cost Accounting Essay

    The use of accounting in the business field to measure an entity in many aspects regarding financial information is crucial in modern day. Tracking how a business obtain, spends, and invest their financial assets are key indicators for not only external users such as investors and creditors, but internal users such as management departments. To plan for future endeavors, one must understand their present capabilities. Through extensive research, we can establish why cost accounting is important…

    Words: 1292 - Pages: 6
  • Effect Of Cvp Analysis On Cost Accounting

    BACKGROUND OF THE STUDY Introduction Cost can be defined as the amount that has to be paid in order to get something. In companies or industries cost is valuation of effort, resources, material, time spent, risks incurred and opportunity in production and delivery of goods. Cost accounting is also considered as cost volume profit analysis. This model is useful elementary instruction and for making short run decisions. Cost accounting is process of finding cost for the production of fixed cost…

    Words: 1018 - Pages: 5
  • Difference Between Walther And Skousen, Managerial And Cost Accounting

    Variable costs will vary in direct proportion to changes in the level of an activity (1. Walther & Skousen, Managerial and Cost Accounting, 2009, 37). In other words this cost can’t be the same in all periods of time. It can be for example electricity bill for company’s office or fuel for the truck in the warehouse. Fixed costs are opposite for variable costs. Fixed cost don’t change with the level of an activity. Even if the output or input of a unit changes, it will still remain in the same…

    Words: 880 - Pages: 4
  • Fair Value Vs Historical Cost Accounting

    The fair value and historical cost are fundamental approaches of accounting. They bring up major changes in the financial status of the entities. The main objective of financial reporting is to provide information on assest and liabilities about the particular entity, which helps it to make useful financial decision. The fair value (FV) is a common among accounting and finance professionals. Today the majority of the investors and creditors prefer FV. On the other hand these policy and…

    Words: 2033 - Pages: 8
  • Andrew Carnegie's Success

    embrace this new idea of industrialism or to fail. Which was why to no one’s surprise why he believed in the ideology of Herbert Spencer and Social Darwinism. On May 17, 1848, the Carnegies left the decay of Dumfermline for a fresh start in the New World. His father Will, was emasculated by his own failures and by his wife’s determination. (Andrew Carnegie 12) The family at once set out to find work and Andrew got his first job as a bobbin boy in a local textile mill. Although he found the work…

    Words: 2162 - Pages: 9
  • Woodland Adventure Playground Case Study

    chance to handle “livestock like pigs, sheep, fish, and chicken” (Nigel Slack). The park has to be regularly maintained to provide a safe and enjoyable experience for visitors, costing them £18,000 every year. And these costs are expected to increase every year. Q.1b) Remove it: This is relatively feasible and low acceptable option because removing playground will save huge maintenance cost which may decrease revenue and visitor’s…

    Words: 1630 - Pages: 7
  • The Contingency Theory Of Management Accounting

    name of its journal from Cost Accounting to Management Accounting in 1965 and its own name to the Institute of Cost and Management Accounting in 1972. In 1986 it received its royal charter and became The Chartered Institute of Management Accountants (CIMA) (Allot, 2000). In the United States the National Association of Cost Accountants changed its name to the National Association of Accountants in 1958 (Scapens, 1991, p. 9). This organization became the Institute of Management Accountants (IMA)…

    Words: 734 - Pages: 3
  • Previous
    Page 1 2 3 4 5 6 7 8 9 50

Related Topics:

Popular Topics: