each supports HR practices Appraisals/ Training HR data includes results obtained by the employee in his/her job and during the appraisal skills are being measured as well as accomplishments with reasonable accuracy. Collecting and recording this kind of HR data provides a way to help identify areas of employee’s performance and to help for a professional growth in his/her career. Company employees need training and motivation to feel that they are a part of organization and that they are
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LEAN ACCOUNTING: BEST PRACTICES FOR SUSTAINABLE INTEGRATION "Costs do not exist to be calculated. Costs exist to be reduced.” – Taiichi Ohno‚ father of the Toyota Production System Lean Accounting-It is simply the application of lean principles to the accounting and associated functions within the enterprise. The idea is simple‚ but the application is not obvious within the framework of traditional accounting systems. Lean Accounting was born in the early 90’s through the experiences
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1.Managerial accounting vs financial accounting Managerial accounting information system is an information system that produces outputs using inputs and processes needed to satisfy specific managerial objectives. How do management accounting and financial accounting differ? Management Accounting Financial Accounting 1. Internally focused
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costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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MODULE 1 Management Accounting Module 1 Management Accounting Objectives Aim To provide an understanding of the nature of management accounting and its role in the process of managing and controlling the enterprise. Key Concepts ▪ Management accounting ▪ Management control ▪ Decision making Learning Outcomes By the end of this section you should be able to understand: ▪ The purpose of management accounting ▪ The concepts and processes of control. The
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5 PROBLEM 28. Y‚ an S corporation formed at the beginning of the year‚ has the following information in its first year: Gross Income from services $100‚000 Net short-term capital loss (2‚200) Salary paid to F (10‚000) Medical insurance premium for F (300) Other operating expenses (54‚000) Cash distributions to F 5‚000 F‚ a 50 percent owner of Y‚ is single and has no other tax information. F’s A.G.I. is a. $21‚900 b. $26‚750 c. $26‚900 d. $35‚700 e. Some other amount‚ which is $_________
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How Accounting Information Systems has Improved Payroll Accounting Abstract Payroll accounting has been greatly improved with the invention of accounting information systems (AIS). The process of payroll is a complicated one that involves many steps. From updating the employee information to printing the checks‚ almost all areas have been improved with the help of AIS. There are many things to keep track of when processing payroll from beginning to end. Many larger companies have turned to outsourcing
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drilling crude oil for shipment overseas but also refining some in Nigeria. Nigeria’s crude oil ranks high in quality and is a huge supply‚ thus climbed Shell Oil-Nigeria to the top in 1994 as the company that made more money than any company globally. However‚ the company fell short of its corporate social responsibility by 1996 by getting involved with unethical practices (Arvidsson‚ 1996). This paper discusses how shell abused the environment and the human right of the Nigerian people and manipulated
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The organisation’s approach to collecting‚ storing and using HR data “HR records and their retention are extremely complex and constantly changing areas requiring companies to have document retention policies and monitoring programmes.” (CIPD Website) HR records incorporates a range of data relating to all employees working in the organisation i.e. training records‚ salaries‚ absenteeism‚ all of which may be stored electronically or manually. It is important for an organisation to collect and maintain
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Performance OF THE FIRM – ACCOUNTING Professor Hsihui Chang Date‚ Time and Location Office: 3600 Market Street‚ Room 71l Monday‚ 6:00 – 8:50pm Telephone: 215.895.6979 Email: hc336@drexel.edu Office Hours: By Appointment Course Description The course objective is to provide prospective users of financial accounting information with an understanding of accounting fundamentals and the ability to evaluate the quality of financial accounting information for use in business
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