What role does the Cost Accounting Standards Board play when companies contract with the U.S. government?

Q: In the field of cost accounting, one of the most critical decisions made by a manager is the type of…

A: Choosing the type of technology that the organisation will use to produce its products or deliver…

Q: How does managerial accounting differ from financial accounting?

A: Accounting: Accounting is an art of collecting, recording, summarizing and presenting the financial…

Q: How can Firms that do not want to become involved in licensing or to become heavily involved in…

A: Contract manufacturing is the process through which a small business or entity hires another company…

Q: Is it correct that managerial accounting mainly provides services for manufacturing organizations?…

A: The concept of managerial accounting is majorly used to analyzed costs incurred on the products but…

Q: What are the differences between managerial accounting and financial accounting? take examples

A: Managerial accounting: Management accounting is a practice whereby management reports and accounts…

Q: In Management Accounting, what is the transfer price? What three areas does transfer price affect in…

A: SOLUTION- TRANSFER PRICE- IT IS THE PRICE THAT RELATED PARTIES CHARGED TO EACH OTHER. ON THE OTHER…

Q: What are the differences between managerial accounting and financial accounting? taking example

A: Definition:   Managerial accounting: Managerial accounting is a system, or a process of collecting…

Q: What other factors should a management accountant take into consideration when setting direct…

A: Factors that should be considered   Standards must be set both in Physical and Monetary Terms…

Q: Describe how manufacturing, merchandising and service-sector companies differ from one another?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: Identify  the compliance and/or regulatory issues influencing the  the cost of the products made.…

A: Government and regulatory issues can have a variety of effects on the cost of numerous goods and…

Q: The organization whose primary function is to provide a means to share information among cost and…

A: INTERNAL REVENUE SERVICE :  administered the internal revenue code  and is responsible for…

Q: What is one key way to reduce cost-allocation disputes that arise with government contracts?

A:

Q: Why is it important for Logistics and Procurement Managers to have knowledge in Financial Management…

A: LOGISTIC AND PROCUREMENT MANAGERS HAVING KNOWLEDGE OF FINANCIAL MANAGEMENT ARE VERY MUCH BENEFICIAL…

Q: Why are companies divided into departments for the purpose of management control?  What are some of…

A: A business is normally organized by its functions, e.g. marketing department, accounts department,…

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: What are the main differences between managerial and external accounting?

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: How do manufacturing companies differ from merchandising companies?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: How do commercial businsses support the work of industrial business

A: Gaining profits is a primary motive for trading businesses mostly which can be treated as commercial…

Q: Identify the correct statement with respect to manufacturing and merchandising companies in general…

A: A merchandising firm is one of the most common types of business. A sales firm is a business that…

Q: What is the chief difference between manufacturing and service industry firms?

A:

Q: What is the most significant function of a cost of production report, and why is it important? What…

A: The significance and use of a cost of production report:

Q: What is the unit cost below which Power Pack Company should not go in bidding on the government…

A:

Q: Who in the typical firm or organization is responsiblefor cost management?

A: Cost Management:   Cost management involves the development and use of cost management information…

Q: What is the difference between cost of sales,selling price,labour costs in a formal business

A: Variable cost: It is the cost that changes with the change in level of unit

Q: What factors explain the differences in company performance in the same industry?

A: For firms within the same business sector like Mcdonalds, Starbucks, burger king, etc in the…

Q: What are some of the importance of financial management to procurement managers?

A: A procurement manager is in charge of sourcing goods and services for their company. Another title…

Q: What is the full form of CIMA, the professional body controlling the profession of Cost Accounting?…

A: Introduction: CIMA: CIMA is Established in March , 1919 CIMA is the world largest Accounting body.

Q: What do you think is the difference between claims and entitlements?

A: Manufacturing industries are based on preparing final products from the raw materials and…

Q: Why would a corporation choose process costing over task order costing? How are the two systems…

A: Here is the Answer

Q: The decision by firms of the quantity of output to supply is based on O the price of inputs O the…

A: Please see the next step for the answer

Q: What is the most important difference between a manufacturing firm and a service industry firm, with…

A: Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare the…

Q: (Corporate Finance) What do we mean when we refer to agency costs?

A: If the company is considering the value of shareholders then, it is known as maximizing the…

Q: Activity Based Costing to report product costs in financial statements

A: Activity Based Costing is a costing method to allocate overheads to products or operations or jobs.

Q: Why is it important for logistics and procurement managers to have knowledge in financial…

A: Financial management is concerned with obtaining and effectively utilizing the funds necessary for…

Q: How may managers at EY Australia and Unilever benefit from the activity-based cost information?

A: Activity costing is a way of attributing the company's overhead and other indirect expenses to its…

Q: The major reporting standard for presenting managerial accounting information is OA the cost…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Different meanings of product costs. There are at least 3 different purposes for which we measure…

A: Type of cost 1. Pricing/ product mix Direct Material Included Direct manufacturing labour…

Q: Define ‘control’ and state what would be the acceptable indicators for the transfer of control from…

A: Control of an asset is defined as the ability to direct the use of and obtain substantially all of…