manufacturing or trading‚ require cost accounting to track their activities.[1] Cost accounting has long been used to help managers understand the costs of running a business. Modern cost accounting originated during the industrial revolution‚ when the complexities of running a large scale business led to the development of systems for recording and tracking costs to help business owners and managers make decisions. In the early industrial age‚ most of the costs incurred by a business were what modern
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Today’s world is all about speed. Every single process is studied and programmed to be as quick as possible‚ with optimal efficiency. We are currently witnessing a fundamental transformation of the society that we can qualify as a robotisation‚ essentially in the developped countries. That could be beneficial for some countries‚ in some fields‚ for some people. But we all should be aware that there are humans that cannot follow this step. In fact‚ this new process is involving a wider gap between
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Overview Welcome to the study of cost accounting. This introductory chapter explains the intertwining roles of managers and management accountants in choosing an organization’s strategy‚ and in planning and controlling its operations. Unlike the remainder of the textbook‚ this chapter has no “number crunching.” Its main purpose is to emphasize the management accountant’s role in providing information for managers. Review Points organization. Cost accounting provides information
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douglas mcgregor - theory x y Douglas McGregor ’s XY Theory‚ managing an X Theory boss‚ and William Ouchi ’s Theory Z Douglas McGregor‚ an American social psychologist‚ proposed his famous X-Y theory in his 1960 book ’The Human Side Of Enterprise ’. Theory x and theory y are still referred to commonly in the field of management and motivation‚ and whilst more recent studies have questioned the rigidity of the model‚ Mcgregor ’s X-Y Theory remains a valid basic principle from which to develop positive
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Chapter Six Businesses and Their Costs Study Questions: 1. Explain the difference between a plant‚ a firm‚ and an industry. Plant – establishments such as a factory‚ farm‚ mine or store. Firm – an organization that employs resources to produce goods/services for profit. Industry – group of firms that produce the same or similar products. 2. State the advantages and disadvantages of the corporate form of business. Advantages – most effective form of
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Hibbs Composition 2 February 3‚ 2014 In the Long Hall When life throws you lemons‚ you squeeze them and make lemonade; just like in the poem “In the Long Hall”‚ when the young boy gets stuck in between the tapestry trying to move forward‚ but the tapestry continued to unravel behind him as he tried to move forward. This scenario really made it hard for the young boy to move forward with things. Sometimes in life things may get hard or difficult‚ but we have to continue to move forward and not
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warehousing and shipping cost is not really correct. The current method is direct method which ignores In term of Shipping and Warehousing cost‚ low volume products should incur this cost instead of both high volume and low volume products. Because‚ high volume products are deliveried directly to customer so it does not incur the cost of shipping. The low volume products which are sent to distribution center incurred the cost of shipping and warehousing. However‚ the cost of shipping and warehousing
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New York Institute of Technology Blinds To Go Sheri Pompey Staffing and selection Professor Mohammad Ali‚ PHD July 19‚ 2012 1. Summarize the key strengths and weaknesses of BTG’s staffing system‚ and explain why the factors you identify are strengths or weaknesses. 2. How can BTG improve on the weaknesses you identified in question 1‚ and what can it do to maintain the strengths? In which ways is BTG not prepared to
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What’s your real cost of capital? By James J. McNulty‚ Tony D. Yeh‚ William s. Schulze‚ and Michael H. Lubatkin Harvard Business Review‚ October 2002 Issue of the article: valuing investment projects Number of pages: 12 Daniel Miravet Campos Part 1. Executive summary This article is fundamentally based on the exposition of a new method to calculate the cost of capital for a company (MCPM)‚ to meet the inefficiencies of the current one (CAPM). In valuing any investment project or
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October 9‚ 2012 Too many juveniles go through the system and 14.7% re-offend. Mediation cuts repeat offenses in half. The recidivism rate for those who don’t attend mediation is 33% to 36%. So‚ mediation is better and it is proven. Even though mediation is proven effective‚ there still should not be so much overcrowding of the juvenile justice facilities. Mediation is proven effective. “Through the Models for Change initiative‚ MacArthur supports reform aims to help
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