Standard Cost Variance Analysis
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Standard Costing Variance Analysis And Decision Making
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Author : Alexander Berger
language : en
Publisher: GRIN Verlag
Release Date : 2011-07-12
Standard Costing Variance Analysis And Decision Making written by Alexander Berger and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-12 with Business & Economics categories.
Research Paper (undergraduate) from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 63%, University of Sunderland, course: Management Accounting and Control, language: English, abstract: This report is divided into two parts. The first part will explain how a standard costing system works and how a variance analysis is used properly. Furthermore, the statement “Standard Costing and Variance Analysis are appropriate to any type and size of organisation” will be critically evaluated. The second part determines factors, which must be considered in the decision-making process. In addition, four scenarios of decisions will be provided and analysed. One of the main objectives of an organisation is to minimise the cost of production and to control the costs as they are limited resources within a business (Gupta, 2010). Management accounting literature provides several tools in order to achieve these objectives. In this context, the system for collecting and reporting revenue and cost information by areas of responsibility is called responsibility accounting (Siegel & Shim, 2006). It is based on the assumption that managers should be held responsible for their performance. A well-designed responsibility accounting system integrates responsibility centers within the organisation. In addition, responsibility centers are units within the organization, which have control over costs and revenues (Siegel & Shim, 2006). There are different types of responsibility centers such as profit centers, investment centers, revenue centers and cost centers. In the following report, the focus is on cost centers. Here, a variance analysis based on standard costing is a performance measure of a cost center (Siegel & Shim, 2006). In addition, a standard costing system is a useful tool facilitating decision-making.
Standard Costs And Variance Analysis
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Author : National Association of Accountants
language : en
Publisher: Institute of Management Accountants
Release Date : 1974
Standard Costs And Variance Analysis written by National Association of Accountants and has been published by Institute of Management Accountants this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Business & Economics categories.
Standard Cost Variance Analysis
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Author : Frank Delane
language : en
Publisher:
Release Date : 1979
Standard Cost Variance Analysis written by Frank Delane and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Cost accounting categories.
Standard Cost Variance Analysis A Managerial Cost Control Technique
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Author : Abbas Rachedi
language : en
Publisher:
Release Date : 1983
Standard Cost Variance Analysis A Managerial Cost Control Technique written by Abbas Rachedi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with categories.
Updating Standard Cost Systems
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Author : Carole B. Cheatham
language : en
Publisher: Praeger
Release Date : 1993-03-24
Updating Standard Cost Systems written by Carole B. Cheatham and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-03-24 with Education categories.
The new manufacturing environment requires new cost-accounting systems as well as new technology. While some authorities have advocated installing new and untried systems, the authors of this book recommend updating the standard cost system which 85 percent of manufacturing firms have in place. Updating the present system can achieve greater benefits in terms of providing information to managers for decision making. It also allows the organization to avoid disruption to the corporate culture and the cost associated with a new system. The authors show how standard cost systems can be redesigned to measure factors recognized to be important in today's manufacturing environment such as quality, production levels, and throughput. They demonstrate how standard cost systems can foster continuous improvement through dynamic rather than static standards. After examining characteristics of the new manufacturing environment and benefits of upgrading the cost system, ways to update the traditional standard cost system are discussed. Revisions include a unique input-output method of variance analysis, specific metrics related to manufacturing performance, ways to identify cost drivers, and use of dynamic standards. The authors demonstrate how to redesign the information-gathering and reporting system as new manufacturing procedures are put in place. They discuss ways that marketing activities are affected and how to plan plant and equipment expenditures in an automated environment. This book is directed primarily towards accountants and managers needing to improve informational content of accounting data for decision-making purposes. It should also be beneficial to any person within the business firm who either supplies data of this type or uses it, such as project analysts, controllers, managers, and even management trainees. Academicians teaching cost and managerial accounting as well as those teaching production management and financial decision-making courses should find it beneficial as a text supplement or as a primary text in courses dealing with current problems in today's changing manufacturing environment.
Standard Costing And Variance Analysis As Management Tools For Manufacturing Cost Controls
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Author : Mokrane Fenek
language : en
Publisher:
Release Date : 1982
Standard Costing And Variance Analysis As Management Tools For Manufacturing Cost Controls written by Mokrane Fenek and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with categories.
Financial Planning And Control
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Author : John R. Grey
language : en
Publisher:
Release Date : 1988
Financial Planning And Control written by John R. Grey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Accounting categories.
Financial Planning And Control
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Author : John R. Grey
language : en
Publisher:
Release Date : 1988
Financial Planning And Control written by John R. Grey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Accounting categories.
Advanced Cost Accounting Cost System Costing Techniques And Responsibility Accounting
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Author : Dr. M. G. Mulla
language : en
Publisher: Success Publication
Release Date : 2023-08-01
Advanced Cost Accounting Cost System Costing Techniques And Responsibility Accounting written by Dr. M. G. Mulla and has been published by Success Publication this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-01 with Study Aids categories.
Costing Techniques and Responsibility Accounting in business employ methods to allocate and control costs, evaluating performance based on responsibilities, promoting accountability, and informed decision-making.
Cost Accounting And Control Systems
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Author : R.j.reddy
language : en
Publisher: APH Publishing
Release Date :
Cost Accounting And Control Systems written by R.j.reddy and has been published by APH Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.