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79Managerial Accouting - Activity Analysis, Cost Behavior & Cost Estimation
Profit planning has two main question: (1) how much sales and (ii) what cost? First question can be answered by simply multiplying Quantity with Price. Second question is a bit cumbersome to answer as...
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81Uses of cost accounting
The main uses of cost accounting as follows: 1. Helps in Ascertainment of Cost: Cost Accounting helps in the ascertainment of cost of each product, process, job, contract, activity etc. by using different...
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79MANAGEMENT ACCOUNTING - VARIANCE ANALYSIS
Variance means difference while analysis means breakdown. In Cost or Management Accounting, variance would relate to difference between Standard and Actual Costs. Analysis would break this difference into...
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84CASE STUDY: ACTIVITY-BASED-COSTING
The main purpose of any Costing Accounting System is to ascertain “True Cost" of a Product. If a company is making only one product, its true cost is the same as shown in the Profit & Loss account. Matter...
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69Accounting - One That All Business Need Most
In the past decade, businesses are growing very fast. There are globalization of business, increased competition, new manufacturing technologies, and now we're struggling the global crisis in finance and...
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81The Importance of Standard Costing
A valuable management tool, standard costing is part of cost accounting. Rather than using actual costs for direct material, labor and manufacturing overhead, standard costs are used to easily track...
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58All You need to Know about Accountants and their Work
Accountants are no longer just‘ bean counters’ engaged in the narrow definition of balancing the books of account of a business entity but are now regarded as financial management technocrats? There are...
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57America's Health Care Cost Higher Internationally
President Obama has decided along with Congress to take out the public option clause of the new health care reform bill. The president has repeatedly said in his public speeches concerning health care...
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75Managerial Accounting - An Overview
Just imagine a big room where books are being staked as and when received. If you need a book say “Managerial Accounting” by Ronald W. Hilton, you would have to check each and every book till you find it....
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84CASE STUDY - Intergrated ABC & EVA Approach
This Hub is a continuation of my previous two Hubs: (1) ABC and (2) EVA. In this Hub, ABC & EVA would be combined. As would be observed later in the report, this integrated approach outsmarts both TCA and...
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