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Cost Behaviour
"Profitability is only around the corner." This is a general expression in the business world; you might have heard or said this yourself only. But, the reality is that number of businesses doesn't make it! Business is sturdy, profits are illusive, and the competition has a habit of moving into areas where profits exists. Sometimes, business owners become frustrated because of the revenue growth seems to bring the on waves of additional expenses, even to the point of going towards the back.
How does one sensibly consider the viability of the business? This is perhaps the most essential business assessment a manager should make. Most of us are taught from an early age to perform our best and not give up, even in the face of adversity. And, there are countless stories of businesses which struggled to survive their infancy, but went on to become extremely successful firms. But, it is equally vital to note that some business models won't work. You probably have heard tongue-in- cheek story of the car dealer who said he loses money on every sale but makes it up on the volume. Certainly, the math just won't work. A good manager should learn to use information to make informed decisions about which business prospects to follow. Managerial accounting methods/techniques provide techniques for evaluating the viability and the ability to grow or "scale" the business. These techniques/methods are called cost-volume-profit analysis (CVP).
Contract Accounts It is a separate account such is maintained and opened for every contract undertaken for the reasons of accumulating cots. Every contract is given a number
NSC Ltd. has a 31 May fiscal year-end. NSC disposed of its Information Systems Group (ISG) on 31 January 20X3. ISG had a net loss (after taxes) of $37,700,000 in 20X3, to the date
Most of David's clients are local. However, a few of his clients require out of town travel. He incurred $2,500 of airfare, $1,570 in lodging and $1,313 in meals relating to the bu
Labour Costs Definition of Labour Cost A labour cost refers to all the costs incurred in compensating the human resources used in the production process to provide a us
The following is a summary of a cash book for the year ended 31 April 2012 Payments $ Receipts
Changes in Variable Cost and Selling Price per Unit The contribution sales ratio is affected by any change in variable cost or selling price per unit. This ratio is a mea
MARGINAL COSTING IS PREFERRED TO ABSORPTION COSTING IN DECISION MAKING WHY
How does idel capacity effect cost behavior patterns and factory overhead application methods
Implementation of Re-Apportionment of Overheads The re-apportionment of service department costs may be implemented in a number of methods. The Two extremes are as a) Wh
QUESTION 1 Job costing Create a spreadsheet solution to the following problem. Follow the template provided. Play the Job cost podcasts and work through the example problem in tho
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