0
What can undermine the value of using standard costing?
EncofBizandFinance
Imposing standard costs without communicating in an honest, candid manner will undermine much of the perceived value of such costing.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How do you do mining costing?
To do the mining costing, the value of the minerals and the cost of mining it and the cost of compensating the inhabitants is usually considered.
How do you determine the acid value of vegetable oil using primary standard?
Peroxide is used to determine the acid value of vegetable oil using primary standard. Oils with high degree of unsaturation are most susceptible to autoxidation.
What is the difference between target costing and life cycle costing?
In Target costing system, comapnies tries to achieve target prices by reducing those parts of activity which are not increasing the value of product. Life cycle costing is a concept in which companies tries to read the overall process of development of product life cycle and tries to minimise the cost at area where it is not required or not increase the value of product.
DateDraw place value disks on the place value chart to solve. Show each step using the standard algorithm5.241÷3=?
ok
What activities does activity based management encompass?
ABM strategically incorporates activity analysis, activity-based costing (ABC), activity-based budgeting, life cycle and target costing, process value analysis, and value-chain analysis.
What is standard form 9x9x9x9?
It is 94 = 6561
How do you convert 7.9million into standard value?
Convert 7.9 million into standard value
What are the benefits of base?
Advantages of Activity Based Costing System:Activity based costing system has the following main advantages / benefits: More accurate costing of products/services, customers, SKUs, distribution channels.Better understanding overhead.Easier to understand for everyone.Unit cost rather than just total cost.Enables costing of processes, supply chains, and value streams
How do you treat resale value in relevant costing?
someone told me the name of an employer. How can i find out if they actually work there?
How activity-based costing could overcome the deficiencies inherent in the existing costing system?
Greetings. Your questions does not tell about the existing costing system but I assume that you are using the 'traditional' way of costing as standard costing. The major deficiency is that when we talk about costing, we are always assuming that is 'Product Costing'. By doing this we take all the costs to the product. This is not necessarily true. There are various reasons that cause costs in your organization. These could be Products, Customers, Channels, Capacity built, to sustain business (typically called as 'cost object' in ABC) etc. Another major difference is that ABC first calculates the cost of various activities and then it takes to the cost objects. This helps in understanding the root causes for the costs and can help in improving the costs. It gives insight into the performance of the processes in the organization as to how much of the process is really 'value adding' to the organization. The 'non value adding' part of the processes can be eliminated or reduced. Typically the functional managers are informed about the actual expenses v/s budgeted expenses. With this information the managers can be either happy or sad. They cannot be smarter. ABC can tell the functional managers how they have utilised their resources. I hope I have provided some information to you. You can visit my blog on the subject at www.activitybasedmgmt.blogpsot.com or write to me at rajendra@appsconsulting.in. Rajendra Patil
This function of money allows the monetary unit of a country to serve as a unit in which the value of all goods and services can be measured.?
standard of valueThe function of money as a measure of value.
What value of currency representing points in Dhaka stock exchange?
Stock Bond costing 500 and 1000 BDT
