What makes POS systems different from revenue cycles of manufacturing firms?

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: provide an example of a function/operation that is a cost for a company

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Why are companies divided into departments for the purpose of management control?  Is it possible to…

A: An Organisation is a complex entity which requires different expertise in various fields to help it…

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 similarities in calculating the cost of materials used in production, the cost of goods…

A: Cost of the materials used in production: This is the additional amount of material put in the…

Q: Is the value chain in a managerial accounting a tool that primarily assists in the valuation of…

A:

Q: What is the danger in allocating common fixed costs among products or other segments of an…

A: The costs which are not allocated to any specific segment in the business organization are called…

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: How can accounting con

A: these three steps can increase the capacity of of an accounting firm. Adopt a cloud-based platform…

Q: How do service companies differ from manufacturing companies?

A: Company:   A company refers to an artificial judicial person created by a group of individuals who…

Q: Is it possible to control financial totals without physicalcontrol of materials in manufacturing?

A: Manufacturing is the process of large scale production of materials that is generally done through…

Q: Determining the unit cost of manufacturing a product is an output of financial accounting. True…

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

Q: In performing CVP analysis for a manufacturing company, what simplifying assumption is usually made…

A: Definition:  Cost-volume profit analysis: CVP analysis is a tool of cost accounting that measures…

Q: What is the nature of cost management and how beneficial it is for the business?

A: Introduction:   Cost management is the process of planning and controlling a business's running…

Q: What are the arguments in favor of treating fixed manufacturing overhead costs as product costs?

A: Following are the arguments in treating fixed manufacturing overhead costs as product costs: For…

Q: How does the format of the income statement for a manufacturing concern differ from the income…

A: Manufacturing company: Any company that is directly related to manufacturing and its refers to a…

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 do manufacturing companies differ from merchandising companies?

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

Q: In what way does a typical manufacturing business differ from a merchandising concern? in what ways…

A: Manufacturing business means when a company makes finished products by use of raw materials and then…

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: Knowing how costs behave to change in the level of activity is useful to management for all the…

A: Customer demand cannot be predicted by paying attention to how costs change when activity changes.…

Q: Is Standard costing still a useful tool for the Management accountant? How could it be adapted to…

A: Costing Accounting- A cost accounting system is a type of perpetual inventory accounting system that…

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

A:

Q: How is “yield” determined for a process manufacturer?

A: Process costs It is a method of cost accounting, which is used where the production is continuous,…

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 is an operational productivity measure and a financial measure?

A:

Q: Discuss how an emphasis on financial performance of cost centers, as measured by traditional cost…

A: Cost Accounting System:   Cost accounting system can be defined as a framework designed by the…

Q: One of the primary uses of a cost of production report is to assist management in controlling…

A: Production Cost Report:   A production cost report is used by the firm to summarise the production…

Q: What is supply-chain analysis, and how can it benefit manufacturers and retailers?

A: Describe a supply chain analysis.   A supply chain refers to a network between the organisation and…

Q: What is meant by customer-profitability analysis? Give an example of an activity that might be…

A: Customer Profitability Analysis:  It is the process of ascertaining the amount of revenue earned…

Q: How many cost pools should a company use when allocating costs to divisions, channels, and…

A: Cost Pool: The cost accountant makes individual group of all the indirect cost used in an item. The…

Q: why service industry not involved production cost and retail industry involve in production cost?

A: In the method of Job costing a particular service is obtained by allocating costs to a distinct…

Q: Why is customer-profitability analysis an important topic to managers?

A: Customer profitability analysis helps management in allocating profitability to each customer, but…

Q: What role do nominal rigidities play in the analysis of business cycle models?

A: The business cycle model shows the fluctuations in a nation's aggregate output and employment over…

Q: What is the primary goal of the cost-of-production report? What is the purpose of these reports in…

A: Cost-of-production report is a statement which shows all the production related costs within a…

Q: What is the danger in allocating common fixed costs among product lines or other segmentsof an…

A: Fixed cost: It can be defined as the cost that does not vary with an increase or decrease in the…

Q: How exactly does the Net Present Value tool work and how is the IRR set within a company?

A: Net present value:- Net present value is the investment evaluation technique, where we evaluate…

Q: What kinds of challenges occurs in the Cost Control and Cost Reduction in the Manufacturing conce

A: Cost Control is different from cost reduction Cost Control focuses/emphasizes on decreasing the…

Q: Why is credit approval an important part of the revenue cycle? And Why should accountants…

A: A cycle indicating a set of business activities and its information processing operations that…

Q: How can accounting consultants or auditors minimize the cost of doing business? How is this…

A: SOLUTIONS- ACCOUNTING CONSULTANTS ADVISES BUSINESSES ON FINANCIAL DECISION AND THEIR ACCOUNTING…