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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
Master Designs Company has cash flows for operating activities of $350,000. Cash flows used for investments in property, plant, and equipment totaled $65,000, of which 70% of this
using relevant examples discuss the meaning and scope of cost accounting
what is the purpose of cost accounting and its nat ure?
what is the scope of cost accounting?
Time Rate System - Labour Remuneration It may be a high day rate or a flat time rate. Under flat time rate, all worker is paid for the time spend without considering the vol
Discuss the advantages and disadvantages of designing an IC using VHDL and synthesis compared with the traditional design approach using schematic capture, simulation and layout.
Typical Causes of Material Variances Price Variances a) Paying lower or higher prices than planned. b) Losing or gaining quantity discounts via buying in large
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A. Bolero Industries Ltd. has been approached by a customer who would like a special job to be done for her, and is willing to pay $60,000 for it. The job would require the followi
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