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
Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f

solutions for (POS) slow printing of sales tickets and unpredictable action of cash drawers. when credit approvals delayed the checkout process or when the computer was down, thus

Let a quarry's cost function of producing Q tons of stone per hour be given by TC = Q 3 - 10Q 2 + 40Q + 25, so that marginal cost function is MC= 3Q 2 - 20Q + 40. (i) Find th

Strategic Positioning The company must identify its strategic choices. This can be done from the firm’s objectives, which emanates from the firms mission. Strategies have to be

Product life cycle costing It is an approach used to give a long term picture of product line profitability feedback on the effectiveness of life cycle planning and cost data t

Explain Programmer budgeting According to burkhead According to burkhead a program budget serves a different purpose than performance budget. A performance budget is useful fo


#queComputing equivalents units and assigning costs to completed units and ending work in process; no beginning inventory or cost transferred in (30 -45min) Sue Electronics makes

Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa

Cash management is related along with the management of: Cash outflows and inflows of the firm Cash flows inside the firm Cash balances as financing deficit and inve