The role of the financial manager is central in the flow of money from investors into the firm and then back to those same investors. There are two major decisions for the financial manager to make that greatly affect this process. In fact, they are central to the success or failure of the company as ...
If you find this article helpful, you may wish to read the article titled Joint Product Costing. Introduction Cost accounting focuses on preparing, analyzing, and reporting information related to the cost of obtaining and using company resources. This article provides an overview of cost accounting and the tasks performed by cost accountants. Included will be ...
Accounting concepts and conventions as used in accountancy are the rules and guidelines by which the accountant lives. The historical cost accounting convention is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. The historical cost accounting is the situation ...
Introduction Actual cost reporting is an effective method of cost reporting for small companies with low sales volume. However, it is not realistic for larger companies to use this form of cost reporting. As smaller companies grow they must recognize that a formal cost management system is necessary. In order to examine formal integrated cost ...
It’s not hard to find The Batters Box at any of the major card shows around the country. Just listen for the sound. “Cha-ching!” It’s not a cash register. It’s a 21st century piece of portable bar-code scanning equipment that elicits the familiar sound each time a card is ‘rung up’ by owners Paul Sjolin ...
The job order costing system seeks to estimate costs of production for different jobs included in specific customer orders. Within organizations treating each job as a single output unit, or when multiple products are produced within a given period, this type of costing system is most relevant (Garrison, Noreen, & Brewer, 2008 and Atkinson, Kaplan, ...