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cosa si intende per integrazione dei sistemi contabili?
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What is the similarities between job costing and contract costing?
1. Undertaking to customer's special requirements. 2. Relatively long duration 3. Site based, sometimes overseas 4. Frequently of a constructional nature
What are the main different between Financial accounting and Cost accounting?
do you have best answer from FA
Cost allocation bases in activity-based costing should be a. cost drivers b. value-added activities c. activity centers d. processes?
C
What is activity based costing?
Activity Based Costing(ABC) Is a more recent approach to product costing ,pioneered by Professor Kaplan and Cooper . ABC is an attempt to reflect more accuratly in product costs those activities wich influence the level of support overheads includes such items as Inspection, Dispatch, Production Planing , Set up, tooling and similar costs. ABC system uses many drivers as absorption bases. Because of this , it claims that the use of ABC and several cost driver rates produces more realistic product or service cost specialy when the support costs are high.
Differences and similarities between managerial accounting and Financial Accounting?
* Cost accounting relies on financial accounting information (unbiased, support material) * both are concerned with responsibility or stewardship to the organization: financial accounting has responsibility to the whole company while cost accounting is concerned with responsibility for parts (costs and revenues) * Both require accounting information that must be relevant, timely, and accurate.
Distinguish between costing and cost accounting?
Cost accounting is the process of using alternative courses after collecting, analyzing, and summarizing data. Costing is what the price of something will be.
Activity-based costing is a means of more accurately accounting for direct labor cost?
False. Activity-based costing is used to allocate indirect cost into direct costs.Regardng direct cost, traditional costing is as appropriate as activity-based costing.
What is an absorption costing?
An absorption costing is an accounting method used to calculate the total cost of a product by factoring in both direct and indirect costs.
What has the author Don R Hansen written?
Don R. Hansen has written: 'Cost management' -- subject(s): Activity-based accounting, Activity-based costing, Cost accounting, Managerial accounting
Difference between cost accounting and costing?
Ans. (1) Costing is a dynamic technique in which changes may take place from time totime in comparison to cost accounting that enables to determine and controlthe cost of manufactured goods.PDF Created with deskPDF PDF Writer - Trial ::
What is by product costing costing?
Product cost accuracy is a term used in the accounting field. It essentially defines the amount of money it actually costs to produce a product.
How is cost accounting impact in financial accounting?
Cost accounting mainly becomes a decision making issue. However, it does impact financial accounting with regards to the inventory account on the balance sheet statement and cost of goods sold on the income statement. It is used in manufacturing firms in order to cost there inventory which is not as easy as a retail firm that really justs costs products at the purchase price. While your countries accounting board regulates the method (generally absorption costing) there is significant debate in accounting theory as to which method (variable or absorption) is a better costing method.
A process cost summary is a managerial accounting report that describes?
evaluation of process costing of any manufacturing organization
What is an acceptable method of determining inventory cost under GAAP?
One can use FIFO, LIFO, or Average Costing as acceptable methods for accounting. Standard costing would be an unacceptable answer.
What are the topics covered in management accounting?
Objective: This course aims at introducing the student to how useful accounting information is prepared, and how it is effectively used, for the purpose of decision-making.Course content: Overview and introduction to management accounting Cost Concepts, Classifications, Terminology and behavior, Job costing and Activity Based Costing, inventory Costing and Capacity Analysis, Cost-Volume-Profit Analysis, Short-term Decision-Making and Relevant Costing, Long-term Decision Making, Pricing Decisions, Master Budget and Flexible Budgeting and variance analysis.
What does the process of job costing mean in terms of business?
Job costing or as some may know it, Job order costing is fundamental to managerial accounting. It differs from Process costing in that flow of cost is tracked by job but not a process. The main difference is that Job costing is in the nature of jobs/work and process costing in a process.
What is a cost unit in cost accounting?
Cost unit is a unit of production, service or time or combination of these, in relation to which costs may be ascertained or expressed. Ex: Toy making: Batch costing, unit of cost: per batch (ex: $500 per batch) Advertising: Job Costing, unit of cost: per Job Hospital: Operating costing, unit of cost: per patient day
