Annotated Bibliography Of Cost Accounting In Apa

Over the past years there have been many accounting measurement systems developed to replace or serve as a supplement to historical cost accounting. However it is not possible, at present, to state which system, if any, is likely to replace the historical cost system. Perhaps the most notable system is Continuously Contemporary Accounting (CoCoA), proposed by Australian researcher, Raymond Chambers. Chambers quoted “…that thousands of shareholders had lost millions of dollars on security investments made on the basis on out-of-date information or on fiction which were reported as facts” (Deegan, 2000, p.112).

Brewer, C. P., Garrison, H., R., & Noreen, W., E., (2005). Introduction to Managerial Accounting, 2nd Edition. New York, NY: McGraw-Hill/Irwin.

The following annotated bibliography includes a list of references that address cost measures, direct and indirect costs and pricing systems. Cost accounting systems are well-developed for tangible goods. Accounting principles are applied to businesses for financial reporting to analyze the profitability of the business. Direct and indirect costs is the basis to setting regulated prices on products.

Almost every single company that is in business faces a serious problem called cost allocation. Every company no matter what they sell or what service they provide faces the problem of allocating costs to defined cost objects. The cost allocation process is a very hard process for most. Cost allocation is a very complex and difficult procedure that requires the application of appropriate accounting procedures. These accounting methods sometimes will not provide objective and fair cost allocation because they have irrational bases that are not always reliable or appropriate. This is why accounting theory and practice steadily try to advance upon methods that are already in place and help develop new ones that could provide objective and fair cost allocation (Perčević & Dražić, 2008).

Edmonds, T. P., Tsay, B., & Olds, P. R. (2011). Fundamental managerial accounting concepts (6th ed.). New York, NY: McGraw-Hill Irwin.

Edmonds, T. P., Tsay, B., & Olds, P. R. (2011). Fundamental managerial accounting concepts (6th ed.). New York, NY: McGraw-Hill Irwin.

Cost accounting is a type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance (Cost Accounting, n.d.).

I am somewhat confident this topic will not be the most appealing to the masses, but to the few who work with manufacturing accounting, standard costing, work order processing, and the JD Edwards Manufacturing Accounting and Costing application, this article may be of interest.

Businesses – from manufacturing, merchandising and service industries alike – take careful considerations for their costing systems. Setting-up competitive prices in the market can be a result of proper costing methods. Misallocation of costs may lead to incorrect price estimates, continuous production of unprofitable products, and ineffective processing schedules. In this case study, we will discuss the costing methods Zauner Ornaments are currently using and upon conclusion, it will enable us to distinguish the advantages and disadvantages of each costing method.

Bhimani, A., Horngren, C., Datar, S., Rajan, M. et al. (2012) Management and Cost Accounting. 5th ed. Edinburgh: Prentice Hall, p.369 - 378.

Would factory security and assembly activities be best classified at an appliance manufacturing plant as unit-level, batch-level, product-level, or organization-sustaining?

INTRODUCTION Businesses – from manufacturing, merchandising and service industries alike – take careful consideration in the analysis of their costing systems in order to be able to set up competitive prices in the market. Misallocation of costs may lead to incorrect price estimates, continuous production of unprofitable products, and ineffective processing schedules. In this case study, we will discuss the costing methods which Zauner Ornaments have used or is currently using and, in conclusion, be able to distinguish the advantages and disadvantages of each costing method. CASE CONTEXT The case seeks to assist Zauner’s comptroller, Yu Chia-yi, in determining the best costing method for their overhead costs. In addition we also aim to

The discussion takes place within the context of different bases of valuation—cash basis, historical cost, and current value. This discussion also helps the instructor to learn more about the students’ background and ability. Historical cost accounting is presented as a compromise between cash accounting (high reliability but low relevance) and current value accounting (low reliability but high relevance). The matching problem of historical cost accounting is illustrated, with specific reference to amortization and full cost v. successful efforts accounting in oil and gas.

Cost accounting may be regarded as one of the key aspects of most organizations. Lack of proper analysis and accounting for costs would bring detrimental effects on the profitability and the general financial position of an organization. However, one of the essential activities that costs accountants have to engage in is the measurement of cost behavior. Cost behavior involves finding out how costs are affected or altered when there is a change in the level of organizational activities ("What is cost behavior? | AccountingCoach", 2016). It is common to hear cases where managers have made poor decisions such dropping product lines or overbidding on services because of erroneous cost behavior information. While most institutions have been pushed into dire straits due to poor decision making or harsh economic downturns, Central Michigan University has enhanced its financial stability through its accountants who ensure appropriate measurement of cost behavior. Currently, it is among the most outstanding and stable schools with a compelling financial position.

Cost-accounting systems enable the measurement of costs – the first step toward being able to manage costs. They enable the assessment of technologies on the basis of costs