Explain why conventional cost accounting systems have become less useful in both business and government settings. How
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (13 reviews)
In essence conventional cost accounting systems were developed for a production technology that prod...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
Question Posted:
Students also viewed these Accounting questions
-
Many cost accounting systems have a twofold instead of a threefold category of manufacturing costs. What is a common name for the second item in the twofold category?
-
What are some of the problems created by multinational corporations in the home country? In the host country?
-
a. b. C. d. It is required to determine the market value of the company's equity capital, the net profit of which is 500 000 RUB And ROA = 15%. The following data acc. Analogs is given: Analog...
-
Write each number in scientific notation. 0.875
-
Many companies make annual reports available on their corporate Internet home page. Annual reports also can be accessed through the SECs EDGAR system at www.sec.gov (under Filing Type, search for...
-
Evaluate (counterclockwise). Show the details.
-
Use the all-possible-regressions selection on the fuel consumption data in Table B.18. Perform a thorough analysis of the best candidate models. Compare your results with stepwise regression....
-
Cam Smith owns Cams Pets, a small retail shop selling pet supplies. On December 31, 2016, the accounting records of Cams Pets showed the following: Inventory on December 31, 2016......$ 10,400...
-
3. Suppose a local post office requires the following number of workers on the different days of the week. Day Number of Day workers Number of workers Mon 11 Fri 20 Tue 12 Sat Wed Thu 13 14 Sun 10 10...
-
The personnel director of Dollar Finance Corp. must assign three recently hired college graduates to three regional offices. The three new loan officers are equally well qualified, so the decision...
-
What are the three broad categories of service efforts and accomplishments (SEA) measures? Explain the GASBs role in developing standards for SEA reporting.
-
The finance officer of a small city has heard that certain items of cost may be allowable under federal grants, even though they were not incurred specifically for the grant. To what source could the...
-
Have students interview two people from two different foreign cultures. Have the students ask what major differences they see between the cultural values in their country and those in the American...
-
In the current tax year, Fay has short-term capital loss carryovers of $5,000 and long-term capital loss carryovers of $40,000, both carried over from the previous year. Her net short-term gain for...
-
Consider the curve described by x = -3t+ 2, y = 5t-4 = -1 and to = 1. with the points P and Q defined by the points on the curve where tp What is the length of the curve between points P and Q in...
-
What control activity is violated when the same person that makes the bank deposit is the one who records the daily sales in the accounting system?
-
Identify the factors that a mutual fund representative must consider in making a suitability assessment. All of the above. A & B only. Determine the client's investment objectives. Assess the...
-
The sales variance section will require you to do the calculations in Excel. However, for the cost variances, you will need to import Percy's data from the text file, clean it up, and copy it to the...
-
Calculate the equilibrium composition of the isomerization reaction between propylene oxide 1C3H6O2 and acetone 1C3H6O2 at 298 K and 1 bar. Under these conditions, they form miscible liquids and can...
-
TRUE OR FALSE: 1. Banks with a significantly large share of fixed-interest rate home loans are less exposed to interest rate risks. 2. Although Australian banks are pretty big, they are not...
-
In Problems 2730, simplify each expression assuming that n is an integer and n 2. (n + 3)! (n + 1)!
-
When is a city required to establish an enterprise fund?
-
How does the accounting for capital leases differ between proprietary funds and governmental funds?
-
What are the three components of net position provided by GASB? Describe how a government assigns amounts to the classifications.
-
As a precaution, the levers on gasoline pumps in many provinces in Canada must be manually operated at all times. One of the reasons for this is especially relevant in the winter time because the...
-
7. A transformer core is shown in cartoon form in Figure 8.26. This is made up of, perhaps implausibly, 29 gage M-36 laminations: the same sort of material described by Figures 8.19 and 8.20. Assume...
-
2. For a lamp that has a total luminous flux, of 4.5104 lm and total radiant flux, of 300 W, (a) what is the overall luminous efficiency, K for this lamp? (b) if this lamp has a luminous intensity of...
Study smarter with the SolutionInn App