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It is important to have performance measures to evaluate managers as they control resources and invest in assets for the company. Describe how you could use different variances (actual to standard) to evaluate performance. Additionally, there are nonfinancial performance measures that can be used. Are there any that you think would be more or less important to a manufacturing company or a service company? Can you provide an example of a personal spending variance that you have experienced? I need a decently detailed response to this question.
#question.discuss the importance of cost classification to a business organisation?
DEFINITION OF BUDGET As per the Institute of Cost & Management (ICMA), London, a BUDGET is 'a quantitative statement and / or financial, prepared and approved prior to a defin
Cost Components Companies which manufacture a product face an elaborated set of accounting issues. Additionally the usual accounting matters related with selling and administra
What are the major features of JIT?
(a) Describe briefly how the following are used in the accounting for labour: (i) time sheets (ii) job cards. (b) The following details relate to the labour in a produ
Methods of Labour Remuneration There Labour remuneration methods can be broadly classified into two factors as: i. Time rate or on the basis of the time spend in the factor
XYZ Inc. plans to raise $5,000,000 external financing through issuing bonds, and is considering two options: regular bonds and zero couple bonds. The regular bonds will have coupo
Budgetary Planning and Control Budgeting refers to the process of quantifying the plans of an organization such as to enable it get its objectives in the defined duration. Th
The following information is available for the automotive division of Ford Motor Company for 2009. The company uses the LIFO inventory method.
A process in the industry where a wholesaler needs an amount that is the difference among the manufacturer's price to the wholesaler and the contract price to the resale customer.
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