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Selective Inventory Management
The inventory of an industrial firm generally comprises thousands of items with diverse prices, usage and lead time, as well as procurement and/or technical problems. It is neither desirable nor possible to exercise the same degree of control over all those items. The organization must pay more attention and care to those items whose usage value is very high and less attention to those whose usage and utilization value is low. The organization has, therefore, to be selective in its approach to control its investment in various types of stocks and inventories. Such a system is known as `selective inventory control' system.
Assigning Costs and Assets After identifying its value chain, a firm must assign operating activity and assets to value activities. Operating costs must be assigned to the act
Participative Budgets In this approach to budgeting, budgets are developed by lower level managers who then submit them to their superiors. The budgets depend on the lower level
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JIT and Management Accounting Management accountants in many organizations have been criticized because of their failure to change their managing accounting system to reflect
what is management
A firm wants to buy a new machine and the following quotation has been received. Cost of machine US$100 000 Freight and insurance US$5 000 The new machine will last for five
1. Explain Value Added Analysis along with the major factors included in Management Accounting Analysis. 2 Identify the several top management styles and define their implicatio
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Queue discipline 1) It refers to the manner in which customers behave in a queue, and to the order in which they are served up. For illustration; A customer may arrive at a que
#Explore the behavioral aspects of budgeting#
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