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If a company creates sales to a number of customers on credit terms this will have to wait for two or still three months before its debtors pay that they owe. It means that the debtors should be financed through the company, and the concept of factoring is to Passover to the finance of debtors by the selling company to a particular factoring, finance Bank or company. After reviewing, the factoring company's amount of the debts and the creditworthiness of the debtors, such will pay the selling company, on the end of the month wherein the sales were completed, the amount this can expect to obtain from the debtors as less a percentage. In this method the selling company receives its money one or two months previous than would generally be the case. The factoring company will after that collects the debts from the selling company's customers while they fall due.
Advantages of incremental budgeting a) The budget is stable and change is gradual b) Managers can operate their departments on a steady basis c) The system is relatively
Exercise 12-7 sell or process further
Feedback Control System Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose
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Describe the Nature of standard costing The system of standard costs (standard costing) is a management technique of using predetermined costs (standard costs) for evaluating p
What are the factors which led to the development of ABC: 1) Traditional costing fails to capture cause and effect relationship 2) Traditional costing often fails to highlig
Assumptions for relevant costs The key assumptions made in relevant costing are: The cost behavior is recognized. The amount of fixed costs, unit variable costs, selli
WHAT IS PRIME COST?
Given budgeted figures and actual, then analyses each fixed cost into its components
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