Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Controlling material flow
Figure below outlines the progressive stages in purchasing, issuing and recording materials in a manufacturing concern. An efficient system of documenting and recording is vitally necessary, not only for accounting purposes, but to ensure that the right materials arrive at the right place at the right time.
The purchase requisition submitted to the buyer may be triggered automatically if the system is computerized, by a message from the stores ledger that the reorder level has been reached. Other requests to purchase may be raised by the production planning department for new product materials not yet carried in stock, and also by any departmental head for supplies and equipment of any kind.
The buyer, ideally after making enquiries of several suppliers, sends a purchase order, and eventually the material is received, checked by the good-inwards department as to quality and quantity, and is detailed on a goods-received note (GRN). One copy of the GRN goes to the buyer to write off the outstanding order record; one to the accounts department for checking against the order and invoice—the latter authorizing payment to the supplier; and one to the stores department with the materials.
Analysis of Each Decision Package This analytic procedure permits the manager of the decision package and its alternatives to assess and validate its operation. Numerous quest
The working capital needs of a firm are influenced by many factors. The important ones are as follows: Nature of business: The working capital necessity of a firm is closely l
IF net income totaled $18,000 for one year, beginning assets were $100.000 and ending assets were $140,000, then Return on Assets for the year as a percentage will be?
A cash budget is one of the main important devices to plan and control cash payments and receipts. In preparation of a cash budget the subsequent points are considered. Cred
Important steps of budgetary control There are certain steps which are essential for the successful implementation of a budgetary control system. They are as follows: 1) Or
what is master budget?
calculate the net operating income , evergreen corp has provided the following data: sales per period 1000 units ,selling price $ 40 per unit , variable manufacturing cost 12 p
Determine the Price determination process 1) Estimating the demand for the product: the first step in determining the price of a new product is to estimation the anticipated
What is Production cost It begins with the supplying of materials, labour and services and ends with the primary packing of the product. Therefore, it includes the cost of d
Which of the following costs is an example of a cost that remains the same in total as the number of units produced changes?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd