Government of Ghana's flagship programme of One District One Factory (IDIF) is aimed consolidating the nation's...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Government of Ghana's flagship programme of One District One Factory (IDIF) is aimed consolidating the nation's effort towards industrialization, with a major goal of creating employment for the teaming youth and for Ghanaians to patronise made in Ghana goods. Previous government efforts targeted National Board of Small Scale Industrial (NBSSI) to serve as a spring board in achieving these goals. The challenge is that our Small and Medium Enterprise have not lived up to expectations dues their inability to provide adequate and relevant data to prompt management decision making. Ghanaian SME are dominated by one-man self- style business without the needed skilled human resource and are not interested in joint ventures or partnerships to take advantage of any synergy, making Ghana to lack in the global industrial ranking. Chinese Industries have grown and exported everything under the sun including 'COVID -19' as a result of good cost and management accounting practice. We need to grow our SME's the question is How do we do it? a) As a level 300 student, select any Ghanaian business set up and design a cost and management accounting systems bearing in mind costing methods and techniques in cost ascertainment. Which will ultimately help the business entity in costing and pricing of its products/services for the Ghanaian economy. (15 marks) b) What were the relevant data obtained from your write up to assist management in its decision- making role? (5 marks) (Total 20 marks) Government of Ghana's flagship programme of One District One Factory (IDIF) is aimed consolidating the nation's effort towards industrialization, with a major goal of creating employment for the teaming youth and for Ghanaians to patronise made in Ghana goods. Previous government efforts targeted National Board of Small Scale Industrial (NBSSI) to serve as a spring board in achieving these goals. The challenge is that our Small and Medium Enterprise have not lived up to expectations dues their inability to provide adequate and relevant data to prompt management decision making. Ghanaian SME are dominated by one-man self- style business without the needed skilled human resource and are not interested in joint ventures or partnerships to take advantage of any synergy, making Ghana to lack in the global industrial ranking. Chinese Industries have grown and exported everything under the sun including 'COVID -19' as a result of good cost and management accounting practice. We need to grow our SME's the question is How do we do it? a) As a level 300 student, select any Ghanaian business set up and design a cost and management accounting systems bearing in mind costing methods and techniques in cost ascertainment. Which will ultimately help the business entity in costing and pricing of its products/services for the Ghanaian economy. (15 marks) b) What were the relevant data obtained from your write up to assist management in its decision- making role? (5 marks) (Total 20 marks)
Expert Answer:
Answer rating: 100% (QA)
a We have selected Textile Business in Ghana in order to determine the determinants of cost inefficiencies among Textile businessman in Ghana The Cost approach estimates the general and inefficiency m... View the full answer
Related Book For
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073212227
8th Edition
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell
Posted Date:
Students also viewed these accounting questions
-
In recent years major efforts have been made to standardize accounting practices in different countries; this is called harmonization. In an article in Accounting and Business Research, Emmanuel N....
-
A spring scale A and a lever scale B having equal lever arms are fastened to the roof on an elevator, and identical packages are attached to the scales as shown. Knowing that when the elevator moves...
-
In recent years major efforts have been made to standardize accounting practices in different countries; this is called harmonization. In an article in Accounting and Business Research, Emmanuel N....
-
Two billiard balls of equal mass undergo a perfectly elastic head-on collision. If one balls initial speed was 2.00m/s, and the others was 3.00m/s in the opposite direction, what will be their speeds...
-
What is the constant k that makes the following function a valid density? fx (x) = ( 0 otherwise,
-
On January 15, 2011, the U.S. Treasury issued a 10-year inflation-indexed note with a coupon of 1.125%. On the date of issue, the consumer price index (CPI) was 220.223. On January 15, 2019, the CPI...
-
Plot the curve obtained in the preceding exercise and the one obtained in Exercise 11.26 on one diagram and compare the fit of these two curves. Data From Exercise 11.26 11.26 The following data...
-
The Mystic Coffee Shop blends coffee on the premises for its customers. It sells three basic blends in one-pound bags: Special, Mountain Dark, and Mill Regular. It uses four different types of coffee...
-
In your opinion, should the card check model of union organizing be allowed for all Ontario employees (as defined by the Ontario Labour Relations Act)? Why or why not? If it were to exist, what...
-
The results below are based on data collected as part of a student project for an introductory statistics class at UF. If there is more than one group/treatment, the first group mentioned is group 1....
-
Given the above closing Balance Sheet for Year 0007 and the Pro Forma Balance Sheet for Year 0008 Prepare a budgeted pro forma of cash flows for Year 0008 As at December 31, 0007 Pro Forma as at...
-
Write code that loops through the array userNums. Each iteration: If userNums [ i ] is less than selectedNum, assign selectedNum with userNums [ i ] . Remember to assign selectedNum with some value...
-
Describe some of the ways to manage goals to overcome conflict ?
-
Carla Vista Enterprises Ltd. has entered into a contract beginning in February 2023 to build two warehouses for Vaughn Structures Ltd. The contract is a non-cancellable fixed-price contract for $10...
-
Rewrite cos(x) 1 + sin(x + tan(x) in terms of cos(x).
-
Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the year: Received from three investors $ 5 3 , 0 0 0 cash and land valued at $...
-
18. Lets pretend that there is no air resistance. Determine the potential and kinetic energy for a 1 kg ball dropped at a height of 200 meters at for 3 seconds. SHOW ALL WORK FOR CREDIT. Time of Ball...
-
For each equation, (a) Write it in slope-intercept form (b) Give the slope of the line (c) Give the y-intercept (d) Graph the line. 7x - 3y = 3
-
For the rod of Prob. 7.23, determine the location and magnitude of the maximum bending moment. B.
-
A simplified model consisting of a single straight line is to be obtained for the variation of pressure inside the 0.4-in.-diameter barrel of a rifle as a 0.7-oz bullet is fired. Knowing that it...
-
The homogeneous wire ABCD is bent as shown and is supported by a pin at B. Knowing that 200 l = mm, determine the angle θ for which portion BC of the wire is horizontal. 150 mm 150 nm
-
What are the stages in the product life cycle?
-
What is the hype cycle?
-
What is meant by the term agile innovation?
Study smarter with the SolutionInn App