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This can be explained as the process of accumulating, calculating, analyzing, interpreting and reporting cost information that is both helpful and relevant to the internal and external stakeholders of a business entity. External stakeholders are those who have a vested financial interest in a business or organization. For example banks (loans), financial houses (mortgages), investors (investments), etc. Internal stakeholders are the business or organization directors, managers, division heads, etc.
One of the many advantages of cost accounting is that it turns data into information, knowledge and wisdom about a business entity's operations that is useful for: ? measuring performance ? Decreasing or managing costs ? determining the fees or prices for goods and services ? deciding to authorize, alter or discontinue a program or activity
The government of a small South Pacific island is considering whether to allow development of a small but valuable deposit of phosphate rock. Not having the resources to develop an
Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the Pay Yourself First s
31. Special Orders Maria’s Food Service provides meals that nonprofi t organizations distribute to handicapped and elderly people. Here is her forecasted income statement for April
Write a 1,200- to 1,500-word paper explaining the legal aspects, financial standards involved, and ethicality of the Excello Telecommunications case. Your paper should include the
1. Develop a list of tasks that a newly appointed CFO would be responsible for, including relevant reports they will access and review and the schedule for when this would occur.
Valuation of Work In Progress The concept of Equivalent units It is a notional quantity of completed goods in the production process. This is a collection of work applic
1. Wrangle Corporation stock sells at a price of $80 a share and the riskless rate is 7%. Calculate the price of a 9-month call option on Wrangle stock with an exercise price of $7
how to calculate variable cost
Sales Budget It provides volume of sales and sales mix of the recent operations. The sales forecast is initially prepared and upon completion the sales budget is finalized. Th
Material Costs - Cost Accumulation However 'Materials' refer to the tangible inputs into the procedure of producing useful output. They might be indirect materials or direct
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