What do we mean when we say that an accounting system needs to be cost-effective?

Question:

What do we mean when we say that an accounting system needs to be “cost-effective”?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Theory Conceptual Issues in a Political and Economic Environment

ISBN: 978-1412991698

8th edition

Authors: Harry Wolk, James Dodd, John Rozycki

See More Books

Question Posted: Oct 12, 2009 01:59 AM

See More Questions

What do we mean when we say that capital market research involves a joint test of both market efficiency and the model used to estimate abnormal returns?
What do we mean when we say that outer space is not really empty?
What do we mean when we say that correlation does not imply causality? What are some of the ways in which an empirical analyst attempts to disentangle the two?
The following auditors report was drafted by a staff accountant of Turner & Turner, CPAs, at the completion of the audit of the financial statements of Lyon Computers, Inc. (a non-public company) for...
a). Complete the spreadsheet below by estimating the project's annual after tax cash flow. b). What is the investment's net present value at a discount rate of 10 percent? c). What is the...
For the experimental set-up of Fig P7.20, suppose the stream velocity is unknown and the pitot stagnation tube is traversed across the boundary layer of air at 1 atm and 20C. The manometer fluid is...
Give an explicit solution for the mean-reverting rnstein-Uhlenbeck SDE \[d X_{t}=\alpha\left(\mu-X_{t} ight) d t+\sigma d B_{t}\] with $X_{0}=x$.
On January 2, 2010, the Whistler Company purchased land for $450,000, from which it is estimated that 400,000 tons of ore could be extracted. It estimates that it will cost $80,000 to restore the...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor - hours. At the beginning of the year, it estimated that 2 5 , 0 0 0 direct labor - hours would...
The 21st Century Studios is about to begin the production of its most important (and most expensive) movie of the year. The movies producer, Dusty Hoffmer, has decided to use PERT/CPM to help plan...
What is an accounting system and what is the primary objective of such t system?
What are the- three basic functions of every accounting -system?
Four hundred eighty dollars are available to fence in a rectangular garden. The fencing for the north and south sides of the garden costs $10 per foot, and the fencing for the east and west sides...
Explain why it is often claimed that hospitals compete for doctors rather than patients. What are some of the implications of this phenomenon, assuming that it is true?
What is a dominant strategy in game theory? Using the payoff matrix shown in Box 14.1, replace the entry in the fi rst row and second column with (125, 50). Does A have a dominant strategy? Does B?...
Would the opportunity cost of waiting time be higher for higher-income people or lowerincome people? Given your answer, for which income group would money price tend to be a smaller portion of the...
The article in Box 14.2 describes similarities between the hospital and airlines industries. What are some signifi cant differences that may prevent or minimize some of the outcomes for hospitals...
What is the nondistribution constraint? In what way is the nondistribution constraint circumvented in the Pauly-Redisch model? What implication does this have for the effi - ciency of the...
Consider the air pollution and mortality data given in Table B.15. a. Is there a problem with collinearity? Discuss how you arrived at this decision. b. Perform a ridge trace on these data. c. Select...
What is removed during each of the three stages of wastewater treatment: primary, secondary, and tertiary? During which state would you expect items to be recovered that were accidentally flushed,...
While undertaking a degree in operations management, you are interested in applying for internships in this field. These jobs are advertised in job portals such as Monster, business networking...
es Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 100,000 direct labor-hours would be required...
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock...
Hubs Sprockets Direct Labor-Hours per Unit Annual Production 0.50 29,000 units 0.10 57,000 units Additional Information about the company follows: a. Hubs require $27 in direct materials per unit,...

What do we mean when we say that an accounting system needs to be cost-effective?

Question:

Step by Step Answer:

To be cost effective the benefit of doing something must exceed the cost of doing it In the c...View the full answer

Accounting Theory Conceptual Issues in a Political and Economic Environment

Students also viewed these Accounting questions