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Motivation - Behavioural Aspects of Standards
Variance analysis and standards setting requires to be carried out like it motivates managers and other employees. It should not create adverse and resentment reactions. To achieve motivational effects, the process should be like:
1. Participative
2. One that encourages responsibility and initiative;
3. One that is not seen like a mere pressure device
4. Should be objective and uniformly applied to all
5 .Carried out in time.
6. One that provides fair feedback to the employees, pointing out areas of negative and positive performance.
7. Well linked to the penalty- reward system that is the positive performance is rewarded while negative performance is punished or accurate to enhance positive performance.
The budgeted and actual revenues and expenditures of Seaside Township for a recent year (in millions) were as presented in the schedule that follows: 1. Prepare journal entries
what is the purpose of cost accounting and its nat ure?
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Suppose that you are the chief financial officer at Porter Memorial Hospital. The CEO has asked you to analyze two proposed capital investment-Project X and Project Y. Every proj
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Direct Material Cost Variances (DMCV) This variance is a general difference in the standard direct material cost and the actual direct material cost. This variance may be prese
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