Procedure of material acquisition, Managerial Accounting

Procedure of material acquisition

A stores record is maintained into which the quantity and value of materials received is entered. Issues of materials to production are made by authorized materials requisitions which are also entered into the stores ledger to keep that record up to date continuously, and also into the appropriate job or process const record.

As already indicated, all the procedures may be integrated into a computerized stock record which can provide information at the press of a button to the storekeeper, buyer, production planner, financial manager or any other person authorized to key into it. For example, information on slow-moving stock items can be obtained automatically and without delay.

 

107_flow digarm.jpg

Posted Date: 12/6/2012 5:49:01 AM | Location : United States







Related Discussions:- Procedure of material acquisition, Assignment Help, Ask Question on Procedure of material acquisition, Get Answer, Expert's Help, Procedure of material acquisition Discussions

Write discussion on Procedure of material acquisition
Your posts are moderated
Related Questions

Characteristics of product life cycle The major characteristics of life-cycle concept are as follows: 1) The products have finite live and pass by the cycle of development i

) Allgood Inc. has fixed costs of $480,000. It has a unit selling price of $6, unit variable cost of $4.50, and a target net income of $1,500,000. HOW TO COMPUTE


need help with a master budget and assumptions for project

THE BREAK EVEN POINT

Markov Properties 1) Transition probabilities are dependent only on the current state of the system i.e. provided that the current state is recognized; the conditional probabil

Discuss the dominant compensation philosophy, share value creation and the link between company size and executive pay. Solve Parmalat''s case, which may be found in reading No. 8.

Explain the Scope of cost accounting Scope of cost accounting: the scope of cost accounting is very wide and includes the following: 1 cost ascertainment: it deals with t

Outline Five characteristics of relevant cost