What might have motivated gulag to change accounting system

Assignment Help Accounting Basics

Reference no: EM131518325

Question: (Changes to Accounting Methods) Gulag Industries made a number of changes to its accounting system in 2012, which resulted in significant changes to the way the company costs its products. The company adopted new techniques for quality control (including business process re-engineering) and new allocation methods for costing (including activity-based costing). None of the changes the company made to its accounting systems needed to be reported to external stakeholders.

a. What might have motivated Gulag to change its accounting system?

b. Why was it not necessary to report these changes to external stakeholders?

Reference no: EM131518325

Questions Cloud

Describe one task where it would be suitable : Scripts can be great tools. Describe one task where it would be suitable / efficient to use a script and another task where it might not be.

Describe the health care quality concept : Describe the health care quality concept you selected. Apply it to a health care issue in your health care facility or one you are familiar with

Business intelligence and data warehouses : Businesses today are extremely reliant on large amounts of data for making intelligent business decisions.

Discuss the six dimensions of health and wellness : Essay to compare and contrast the medical model of health and the public health model, and discuss the six dimensions of health and wellness

What might have motivated gulag to change accounting system : Gulag Industries made a number of changes to its accounting system in 2012, which resulted in significant changes to the way the company costs its products.

Write a class called person that has two data members : Write a class called Person that has two data members - a string variable called name and a double variable called age.

Identifies the possible risks to an organization : Prepare a 8- to 10-slide presentation, including speaker notes, that identifies the possible risks to an organization in each of given outsourcing situations.

Explain importance of measuring business performance : Discuss methods for evaluating quality of services in healthcare settings. Explain importance of measuring business performance and quality.

Draw a project balance chart : Your company is looking at purchasing a loader at a cost of $125,000. The loader would have a useful life of seven years.

User Account

All Pages