Standard Costing
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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
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 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 Costing
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Author : Colin Drury
language : en
Publisher:
Release Date : 1998-05
Standard Costing written by Colin Drury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-05 with categories.
Standard costing is the foundation upon which much management accounting and budgetary practice rests, yet it is often misunderstood. In this book Colin Drury sets out the nature and scope of standard costing whilst clearly identifying its limitations. The calculation and interpretation of the full range of cost accounting variances is covered, together with the formal analysis of the decision to investigate variances. The way in which standard costing information is recorded in the accounts is also dealt with in depth, as this step is essential to a full appreciation of the role of standard costing. Finally, the usefulness of traditional standard costing techniques in a modern production environment is assessed.
Manufacturing Standard Costing Practical Handbook
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Author : Constance Holtzhausen
language : en
Publisher: Independently Published
Release Date : 2019-12-26
Manufacturing Standard Costing Practical Handbook written by Constance Holtzhausen and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-26 with categories.
In today's manufacturing industry, direct material costs can be the most significant expense, but labour cost is typically the next most significant expense of a manufacturing business, or any business, perhaps even the biggest expense. It can be devastating not to maintain a standard costing system, without which businesses cannot accurately establish the costs of their products.The Manufacturing Standard Costing Practical Handbook is aimed at all persons from the fields of controlling, production engineers and who are involved in determining standard costs for products. stress-relief management.
Basic Standard Costs
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Author : Eric A. Camman
language : en
Publisher:
Release Date : 1932
Basic Standard Costs written by Eric A. Camman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1932 with Cost accounting categories.
Standard Costing
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Author : Joseph Batty
language : en
Publisher: Beech Publishing House
Release Date : 2002
Standard Costing written by Joseph Batty and has been published by Beech Publishing House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Cost accounting categories.
Standard Costing
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Author : Chandra SEKHAR
language : en
Publisher:
Release Date : 2020-05-16
Standard Costing written by Chandra SEKHAR and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-16 with categories.
This book is brought up in accordance with the subject of Standard costing. In this book, the subject matter is expressed in clear way so that each and every reader understand the subject easily. In the book, I clearly mentioned the Definition, Features, Objectives, Advantages, Disadvantages of Standard costing, several variances explained with suitable examples. Hence, this book will help the readers to understand Standard costing. I believe that with the help of this book, every reader gets the scope of knowledge which helps them in getting the understanding of Standard costing in Cost Accounting. I wish that this book will win the heart of every user. The main features of the book are simple understanding and key concepts.This book is useful to everyone in Cost accounting field like students, Accounts executives, Analysts etc... .It is hoped that this will facilitate a better understanding of the subject matter.I welcome any valuable suggestions regarding this book in a better and improved way. Suggestions will be incorporated in the subsequent editions.All the best ...
Standard Costs For Manufacturing
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Author : Stanley B. Henrici
language : en
Publisher:
Release Date : 1960
Standard Costs For Manufacturing written by Stanley B. Henrici and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1960 with Cost accounting 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.
Managerial Standard Costing
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Author : Joseph Batty
language : en
Publisher:
Release Date : 1970
Managerial Standard Costing written by Joseph Batty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with Cost accounting categories.
Direct Standard Costs For Decision Making And Control
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Author : Wilmer Wright
language : en
Publisher:
Release Date : 1962
Direct Standard Costs For Decision Making And Control written by Wilmer Wright and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1962 with Cost accounting categories.
