The following essay explains the importance of cost accounting for stakeholders of Multinational Companies, particularly the shareholders & the customers. Who are the stakeholders of an organization? according to (Freeman 1984) stakeholder is “any group or individual who can affect or is affected by the achievement of the firm’s objectives” going by this definition stakeholders of a company would include lenders, creditors, customers, shareholders, government, media, political groups, local charities
[pic] Activity-based costing (ABC) is a better principle for companies than a traditional cost system. Discuss. Student Name: Zhang Ruoshi Assignment Title: Essay Module Code: LZ118-122 Module Teacher: Rebecca Manufacturing is one of the company 's core processes, while accounting is the key impact for enterprise to produce good products. Activity-Based Costing (ABC) is a new method of costing system. This method can help a company to allocate
planning and control system in an organization. This essay will elaborate the understanding and analyzing of work done by CIMA and some other surveyors in relation to this field. Secondary part will be consist the comparison and contrast between Activity based costing and traditional costing system in light of work done by Cooper and Kaplan in this field. While final section will highlight the brief analysis of merits of Target costing and Life cycle costing along with some practical examples. Task A
particular item which are job order costing, activity based costing (ABC), process costing. Job order costing isolates costs to a particular job. ABC compares multiple items which are manufactured. Process costing assesses items which are massed produced and provides analysis to the cost through the various stages from beginning to completion. This essay will explain each of these methods and then provide examples for each of them. Job Order Costing Job costing is a method of calculating the amount
it gives the overall scope, direction, and outlines the cash that is assigned to each project milestone. There are four different methods to creating a project budget that include: top-down budgeting, bottom-up budgeting, activity based costing and time-phased budgeting. This essay will examine the different approaches and explain why one approach would be used over another. Top-down budgeting is the first approach to project budgeting. This approach starts with top management and works its way down
changes so that they can beat their competitors. Subsequently, value-added activities and cost reduction has become more important in his contemporary world of business. As such, management accountants have to re-think about their costing methods to ensure that the product cost is rightly allocated, in view that the product cost has a clear aftermath on the pricing decision of a product which also affect profitability. Product costing is a crucial subject especially if the business is considering the application
production? Gaurav Agnihotri BU510 Module #2 March 8, 2013 . TABLE OF CONTENTS CHAPTERS | | I. | Abstract…………………………………………………… | 3 | II. | Introduction……………………………………………… | 4 | III. | Company cost in traditional production system …………. | 5 | IV. | Company cost in lean production system ………………… | 7 | V. | Conclusion………………………………………………… | 8 | REFERENCES………………………………………………………………… | 9 | Abstract In this essay we will be looking closely on methods to calculate
module. Submit online only through NILE by 3rd April 2015 Maximum word count - 2,500 Case Study You are a financial consultant employed by NENE Limited and they require you to answer the following questions. You are expected to write an academic essay of up to 2,500 words addressing these questions. You are expected to explain your calculations using detailed notes, where applicable, and carry out academic research to develop your discussion (cite references). Question 1 The directors of NENE
Western Dialysis Clinic Introduction This case describes the cost system at a regional non-profit full service renal dialysis clinic. The current system installed at the clinic is based on the traditional ratio-of-cost-to-charges method that was developed for government cost based reimbursement programs. Under this system, the service expenses were allocated to a particular department on basis of the percentage contribution in the revenues of the clinic by that department. There were two types
Grading Summary These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 2/1/2015 Time Spent: 1 h , 22 min , 27 secs Points Received: 190 / 190 (100%) Question Type: # Of Questions: # Correct: Multiple Choice 10 10 Short 4 4 Grade Details - All Questions Page: 1 of 2 Question 1. Question : (TCO 1) Which of the following is NOT a difference between Financial Accounting and Managerial