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What are the major categories of accounting?
Following are major categories of accounting: 1 - Cost accounting 2- Financial accounting 3 - management accounting
What is the major problem in cost accounting?
The major problem in cost accounting is allocation of common and joint costs to individual products.
A major weakness of flexible budgets is?
they force the manager to compare actual costs at one level of activity to budgeted costs at a different level of activity.
The similarities and differences between standards and budgets?
One similarity between standards and budgets is they are both predetermined costs. A major difference is that companies can report inventories using standard costs but not budget costs.
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
What are the 7 major categories of the design world?
The seven major categories of the design world are graphic design, web design, product design, interior design, fashion design, industrial design, and architecture. Each category involves creating visual or functional solutions to meet specific needs or desires.
MS-DRG system major diagnostic categories?
25 major categories
What are the Three major categories of expenses that make up the cost of homeownership?
The three major categories of expenses that make up the cost of homeownership are mortgage payments (including interest and principal), property taxes, and homeowners insurance. These expenses are typically ongoing costs that homeowners need to budget for to maintain their homes.
What are the major deserts in Alabama?
The major desert of northern Africa is the Sahara which is subdivided into smaller, regional deserts.
What are the categories of minerals?
major and trace
A major property of sugars is that they?
do not have functional group
What are the major categories of accounting?
Following are major categories of accounting: 1 - Cost accounting 2- Financial accounting 3 - management accounting
How many major categories of shock are there?
4
How many regious in the world?
there are 19 major world religions which are subdivided into a total of 270 large religious groups.
What deserts in Africa?
Africa has three major deserts:SaharaKalahari DesertNamib DesertThe Sahara is subdivided into several regional deserts.
What are 2 major categories of Shakespeare's writing?
I don't know what are the 2 MAJOR categories but, here's some categories: Comedy, tradegy, poems, romance, historic, masque, roman, problem, tragicomedy. Hope this answer helps you. :)
What are the major functions of ambulatory categories in the US?
Ambulatory categories in the US refer to different types of outpatient services that do not require an overnight stay in a hospital. Some major functions include providing preventive care, managing chronic conditions, offering diagnostic services, performing minor procedures, and serving as an alternative to hospitalization for certain conditions. These categories help increase access to care, reduce healthcare costs, and promote continuity of care for patients.
