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What is the goal of setting a realistic standard cost?
EncofBizandFinance
The goal of the personnel responsible for setting standard costs is to provide realistic standards. Only standards perceived to be reasonable are likely to motivate workers to adhere to what is prescribed.
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∙ 13y ago
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A smart and realistic budget accounts for?
The ultimate goal of a smart and realistic budget is to ensure that your expenses do not exceed your income.
What are the uses of cost volume profit analysis?
1 - Goal setting 2 - Marketing strategy 3 - Operational effeciancy 4 - Pricing strategy
What is a realistic percentage for payroll costs in a small retail business?
A good goal would be 20 - 25% of Gross Profit (Sales - COGS). A realistic number might be 30%.
How can standard costing help management in determining performance of a manager?
Standard costing is a set target where it is used as a goal to monitor progress
How are cost accounting and financial accounting similar?
Simple answer: They both provide useful information to users. Thus is the true goal of accounting. Cost accounting users= managers Financial accounting user= shareholders
What is a realistic budget?
arealistic goal- the goal of the personnelresponsible for setting standard cost is to provide realistic satandard.only standard percieve to be reosonable are likely to motivated workers to adhere to what is prescribe.
What is the most likely consequence of setting realistic goals?
There shouldn't be a consequence if the goal set is realistic! The problem people run into is setting unrealistic goals. A goal that is unrealistic can ruin someones self esteem!
How do you set a goal setting crteria?
I was taught to follow the SMART rule for setting goals. Goals should be specific, measurable, achievable, realistic and time-targeted.
How do you define the term goal?
An objective that you have identified that you would like to achieve by setting certain standards and obligations in order to obtain this objective. In order to achieve a goal it must first be realistic and within reach, sometimes it takes setting multiple small goals to obtain the big or original goal.
What is S m a r t?
This is an abbreviation used commonly to help goal setting. Goals you are setting for yourself or others like subordinates should satisfy the following criteria: Specific, Measurable, Attainable, Realistic and Timely.
What is the purpose of setting a deadline for a goal?
what is the purpose of setting deadline for a goal
Where could one find helpful tips on setting realistic goals?
You can look for resources on goal setting from self-help books, online articles, and reputable websites dedicated to personal development. Additionally, seeking guidance from a mentor, coach, or counselor can provide personalized advice on setting realistic goals. Joining goal-setting groups or workshops can also offer support and accountability in achieving your objectives.
How would you define goal setting?
You can define goal setting in a few words that would sum it up, " Goals attainable". An attainable goal is one that should be in your sights as Goal Setting.
Which activities help elementary school students set realistic goals?
Studied goal setting by elementary students by utilizing a strategy of psychomotor and academic games. No grade level differences were observed; however, proportionally more second- through fourth-grade girls and fifth-grade boys were classified as realistic goal setters. Concludes elementary students can set realistic goals in academic and psychomotor games.
What is a antonym for goal setting?
Goal destroying
What is important when setting a goal?
What details are important to have in a goal
Keys to S.M.A.R.T. Goal Setting?
Millions of individuals want to set a goal each and every day. Whether an individual wants to create a personal, professional or academic goal, SMART goal setting can help any individual reach a goal that is important to them. Here are a few of the keys to SMART goal setting. First, individuals need to understand what the SMART goal setting process is. Specific, Measurable, Attainable, Realistic and Timely are the requirements for any goal that is developed under the SMART goal setting process. Specific goals are those that are clearly defined and emphasize what the goal setter wants to happen. Specific goals can be measured or timed so that benchmarks may be established when individuals are pursuing the goal. An example of a specific goal could be a person stating that they want to lose fifteen pounds by July 4th 2011. Measurable goals are similar to specific goals. Individuals who set measurable goals are able to measure their results. An example could be an individual who sets a goal of reading five 1000 page books by the end of the year. Progress is easy to measure as the year progresses. Individuals know that they need to read a certain amount of pages by a certain date. Attainable goals are also very important. There are some types of goal setters who set goals that see almost impossible to achieve. While there may be some goals that are more difficult to achieve, individuals can still set attainable goals by using smaller goals. For example, setting a goal to lose 50 pounds may sound impossible. However, setting a goal to lose five pounds at a time may make the goal seem more attainable. Realistic goals are also very important. Setting a goal to become a singer in the 1950's is going to be difficult because time travel is not possible yet! However, just because a goal may not seem possible to achieve does not mean that the goal is not realistic. Individuals who find it difficult to set realistic goals should still set the goal and see if they can make progress towards it! Timely goals means that the person with the goal says when they want to achieve the goal by. Do you want to lose twenty pounds by the end of the summer? Do you want to go to Europe within five years? Set a timely goal and achieve it!
