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Facts and Fiction
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Problem relating to the implementation of activity based costing and activity based management system?
Answering "Problem relating to the implementation of activity based costing and activity based management system
What is abc-analysis stands for?
Activity Based Costing as per Inventory Management.
In cost accounting what is uniform costing?
cosa si intende per integrazione dei sistemi contabili?
What are the benefits of activity-based costing?
There are several limitations to ABC.Firstly it is expense to implement and maintain, both in time and money.It still faces issue allocating some overheads to activities, for example supervisor salaries.Management and employees can be resistant to the data it provides as it can make their performance look poor. They may even provide poor quality source data if they feel threatened.
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.
Relationship between budgets and standard costing?
they both involve the determination of future costs
How the budgeting process in an organisation benefits a functioning standard costing system?
Standard costing is an easy way to assign costs to products. With an easy approach, organizations can create and plan budgets easier.
Distinction between standard costing and actual costing?
Standard costing is process of determining the standard price require to produce one unit of product while actual costing system uses the actual prices of manufacturing one unit of product.
What are the differences between standard and target costing?
Standard costing will be the price for something. Mostly in every store. The target costing is when one says what one is willing to pay and they can negotiate the cost.
What is the disadvantages of standard costing?
What ARE the disadvantages of standard costing?
What are the main features of standard costing system?
features of standard costing
How is standard costing variance interrelated?
http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/
Standard Costing Vs Variance Analysis?
standard costing and variance analysis
6 Differentiate between Standard Costing and Budgetary Control?
Distinction Between Standard Costing And Budgetary ControlAlthough budgetary control and standard costing both are based on some common principles; both are pre-determined, comparison will be made with the actual costs and both system need a revision of the standards or the budget, these two systems have certain differences which are as follows: 1. Budgetary control deals with the operation of a department or the business as a whole in terms of revenue and expenditure. Standard costing is a system of costing which makes a comparison between standard costs of each product or service with its actual cost.2. Budgetary control covers as a whole in terms of revenue and expenditures such as purchases, sales, production, finance etc. Standard costing is related to a product and its cost only.3. Budgetary control is applicable to utmost all business organizations. Standard costing is applicable to manufacturing concerns producing standard products and services.4. Budgetary control is concerned with a specific period and is based on the totals of amounts. Standard costing is concerned with the standard costs, which are worked out generally per unit of production.5. Budgetary control is not based on standard costing system. Standard costing cannot exist in the absence of a budgetary control system.Posted Syeda Humaira Fatima
Compare Standard costing vs variance analysis?
Compare Standard costing vs variance analysis?"
Define process costing its types features applications?
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
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
