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

Feed-forward control system Feed-forward control system describes a system in which deviations in the system are anticipated in a forecast of future results, so that corrective


Accounts Payable Turnover Ratio is a short-term liquidity measure which is used to calculate the rate at which a company pays off its suppliers. Accounts payable turnover ratio is


I have 20pages preparing a system flowchart assignment


It is a spontaneous source of finance that is commonly extended to business organization depending on the custom of the competition and trade prevailing within the organization and

Explain the Investment versus Speculation? In brief describes the following terms: a) Investment versus Speculation. b) Active and Passive Equity Management c) Systematic v

1.The acquisition of Company B was financed by Company A with cash and by issuance of 2M common shares for $100M. Company A forgot to record the stock issuance