Author: Consta Holtzhausen Mba Fcca Bsc (Hons)
Publisher: Independently Published
ISBN:
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
How to Apply Standard Costing to Overhead: A Practical Guide for Managers and Accountants is an essential resource for professionals in both manufacturing and service sector seeking to understand and implement standard costing systems. Authored by Constance Holtzhausen, a seasoned chartered accountant and business consultant, this handbook offers a pragmatic approach to mastering standard costing. It covers a wide range of topics, including the foundational concepts and benefits of standard costing, detailed steps, and procedures for setting up and maintaining standard costs, and thorough variance analysis and reporting for materials, labour, and overhead. The book is designed to be accessible and informative, providing complete solutions to case studies and exercises that demonstrate the application of standard costing in various scenarios. Readers will learn how to address common problems and challenges in standard costing practice, making it an invaluable tool for students, managers, accountants, and consultants alike. Holtzhausen' expertise shines through the pages, offering best practices and tips for successful implementation of standard costing methods. With its clear and easy-to-follow content, the handbook serves as a powerful aid in enhancing business performance and profitability through effective cost control and decision-making. It is not just a theoretical guide; it is a practical manual that equips readers with the skills and knowledge necessary to use standard costing as a strategic tool in the competitive world. For those looking to deepen their understanding of standard costing and its impact on manufacturing processes, this handbook is a must-have. It promises to be a guide that not only educates but also empowers readers to make informed decisions and drive efficiency in their operations. Embrace the opportunity to learn from a comprehensive handbook that offers complete solutions to elevate your standard costing practices. Secure your copy today and take the first step towards optimising your manufacturing and service costs for better business outcomes.
Author: Mitchell Franklin
Publisher:
ISBN: 9781680922943
Category :
Languages : en
Pages : 746
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Book Description
A less-expensive grayscale paperback version is available. Search for ISBN 9781680922936. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the "why" as well as the "how" aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
Author: Howard Earl Cooper
Publisher:
ISBN:
Category : Cost accounting
Languages : en
Pages : 32
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Book Description
Author: Alexander Berger
Publisher: GRIN Verlag
ISBN: 3640956281
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
Research Paper (undergraduate) from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 63%, University of Sunderland, course: Management Accounting and Control, language: English, abstract: This report is divided into two parts. The first part will explain how a standard costing system works and how a variance analysis is used properly. Furthermore, the statement “Standard Costing and Variance Analysis are appropriate to any type and size of organisation” will be critically evaluated. The second part determines factors, which must be considered in the decision-making process. In addition, four scenarios of decisions will be provided and analysed. One of the main objectives of an organisation is to minimise the cost of production and to control the costs as they are limited resources within a business (Gupta, 2010). Management accounting literature provides several tools in order to achieve these objectives. In this context, the system for collecting and reporting revenue and cost information by areas of responsibility is called responsibility accounting (Siegel & Shim, 2006). It is based on the assumption that managers should be held responsible for their performance. A well-designed responsibility accounting system integrates responsibility centers within the organisation. In addition, responsibility centers are units within the organization, which have control over costs and revenues (Siegel & Shim, 2006). There are different types of responsibility centers such as profit centers, investment centers, revenue centers and cost centers. In the following report, the focus is on cost centers. Here, a variance analysis based on standard costing is a performance measure of a cost center (Siegel & Shim, 2006). In addition, a standard costing system is a useful tool facilitating decision-making.
Author: National Association of Accountants
Publisher: Institute of Management Accountants
ISBN:
Category : Business & Economics
Languages : en
Pages : 158
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Book Description
Author: Chamber of Commerce of the United States of America. Department of Manufacture
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Book Description
Author: Chamber of Commerce of the United States of America. Dept. of manufacture
Publisher:
ISBN:
Category : Cost accounting
Languages : en
Pages : 60
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Book Description
Author: Gill Suveera
Publisher: Vikas Publishing House
ISBN: 9325990326
Category : Business & Economics
Languages : en
Pages : 801
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Book Description
The Third edition is the updated version of the book as per the latest CBCS syllabus.
Author: Carole B. Cheatham
Publisher: Praeger
ISBN: 9780899307169
Category : Education
Languages : en
Pages : 254
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Book Description
The new manufacturing environment requires new cost-accounting systems as well as new technology. While some authorities have advocated installing new and untried systems, the authors of this book recommend updating the standard cost system which 85 percent of manufacturing firms have in place. Updating the present system can achieve greater benefits in terms of providing information to managers for decision making. It also allows the organization to avoid disruption to the corporate culture and the cost associated with a new system. The authors show how standard cost systems can be redesigned to measure factors recognized to be important in today's manufacturing environment such as quality, production levels, and throughput. They demonstrate how standard cost systems can foster continuous improvement through dynamic rather than static standards. After examining characteristics of the new manufacturing environment and benefits of upgrading the cost system, ways to update the traditional standard cost system are discussed. Revisions include a unique input-output method of variance analysis, specific metrics related to manufacturing performance, ways to identify cost drivers, and use of dynamic standards. The authors demonstrate how to redesign the information-gathering and reporting system as new manufacturing procedures are put in place. They discuss ways that marketing activities are affected and how to plan plant and equipment expenditures in an automated environment. This book is directed primarily towards accountants and managers needing to improve informational content of accounting data for decision-making purposes. It should also be beneficial to any person within the business firm who either supplies data of this type or uses it, such as project analysts, controllers, managers, and even management trainees. Academicians teaching cost and managerial accounting as well as those teaching production management and financial decision-making courses should find it beneficial as a text supplement or as a primary text in courses dealing with current problems in today's changing manufacturing environment.
Author: Thomas Downie
Publisher:
ISBN:
Category : Cost accounting
Languages : en
Pages : 138
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Book Description
