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Cost Accountant and Cost Analysis
Cost Accountant
Is a member of chief accounting officers department? And he is responsible for collecting product costs and preparing exact and timely reports to control and evaluate company operations. Cost accountants assemble, summarize and classify financial and economic data upon the production and pricing of services and goods.
Cost Analysis
Is an activity such uses engineering, motion and time studies, timekeeper's planning and records schedules from production supervisors. Cost analysis systems involve break even analysis, capital expenditure analysis, comparative cost analysis and budgeting techniques. After find out what is really happening, accountants must identify available alternatives. Then professional judgment is desired to apply and interpret the conclusions of each costing systems.
Standard Cost Card It is a card record of the Standard or expected costs in producing a specified output. This gives the physical quantities of inputs and also their monetary
1. Develop a list of tasks that a newly appointed CFO would be responsible for, including relevant reports they will access and review and the schedule for when this would occur.
Bakers Bagels LLC produces and sells 20 types of bagels by the dozen. Bagels are priced at $6.00 per dozen (or $0.50 each) and cost $.020 per unit to produce. The company is consid
The Cash Cycle: so as to deal with the problem of cash management we should have a concept about the flow of cash by a firm's accounts. The entire process of such cash flow is ide
Total costs include both variable costs and fixed costs. Variable costs are costs which can beeasily identified or related to a cost per unit or activity level of some kind for exa
You are a beginner accountant with a large accountancy firm and a training day has been organised to update all technical staff on a range of topics across numerous technical disci
STANDARD COSTING STANDARD COSTING is a method, which uses standards for costs and revenues for the idea of control by variance analysis. It can be used either through operation
Estimate Fixed Overhead Variances Referring to data, we can estimate the fixed overhead variances as given below: Budget for December 2003;
Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this
Explain:- Q Why is the statement of cash flows useful? Q. How is it possible for a company to suffer a net loss for a given year, yet produce a positive net cash flow from opera
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