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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.
When the customers of the company are spread over broad geographical areas then in place of a particular collection centre the company opens collection centres at the regional stag
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Outline Five characteristics of relevant cost
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You recently began a job as an accounting intern at Indoor Racing Ltd. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with
advantages of vertical balance sheet \
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