understanding about cost accounting. This paper will discuss: Why is cost accounting so important to the success of the firm; what are the various methods of cost accounting and how are they used; how does an operating budget work to discipline a firm’s management; what are the elements of a budget; how are budgets constructed; what is variance analysis and how it is used. Cost accounting can be described as the process of accumulating‚ measuring‚ analyzing‚ interpreting and reporting cost information
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salary 14 Time management 14 Travel management (sometimes assigned to accounting rather than HRM) 14 Payroll (sometimes assigned to accounting rather than HRM) 14 Employee benefits administration 14 Personnel cost planning 15 Performance appraisal 15 Management by objectives (MBO) 16 360 degree appraisal 16 Behavioral Observation Scale (BOS) 16 Behaviorally Anchored Rating Scale (BARS) 16 Retention Strategies 16 Customer Acquisition and Talent Acquisition 17 CONSUMER PRICE INDEX
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reputation for innovative high-quality products and its economic power. There‚ from 1950 onward‚ he taught top management how to improve design (and thus service)‚ product quality‚ testing‚ and sales (the last through global markets) through various methods‚ including the application of statistical methods. W Edwards Deming placed great importance and responsibility on management‚ at the individual and company level‚ believing management to be responsible for 94% of quality problems. He is regarded as
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Summarization of MG 610 objectives. 1. Assess how an organization’s culture influences financial planning. Financial Planning is a crucial part of my job responsibilities‚ which I exhibit in the initial phase of Software Development Life Cycle. As I work as QA Analyst‚ it is very important to calculate the estimation of the effort to achieve the end result. During this process while calculating time and effort‚ I have to make sure to utilize the allocated budget is equivalent to the estimation. While
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High Speed Steel * High Speed Steel (HSS) refers to any of a variety of steel alloys that engineers primarily use to construct machine tool bits and blades and drill bits for industrial power tools. Materials scientists can infuse this steel with differing percentages of elements to form a variety of HSS manufacturing alloy types. While all of these different types exhibit HSS’s characteristic resistance to high-temperature‚ the properties of each alloy will vary depending on the percentage of
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Introduction Performance appraisal or merit rating is the process of evaluating the performance and the qualifications of the employees in terms of the recruitments of the job‚ for which he is employed‚ for purposes of the administration‚ placement‚ selection for promotion‚ providing financial rewards and other actions which required differential treatment among the members of a group as distinguished from actions affecting all members equally. So it is the process of measuring quantitatively and
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MANAGEMENT OF QUALITY Introduction Quality refers to the ability of a product or service to consistently meet or exceed customer requirements or expectations. Different customers will have different requirements‚ so a working definition of quality is customer-dependent. In order to rebuild its economy after the Second World War‚ Japan focused on quality improvement‚ making it a national imperative. This took place during a time when quality was not uppermost in the minds of business organizations
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AN ANALYSIS OF TWO TUG PROPULSION SYSTEMS IN THE PORT ELIZABETH HARBOUR. By DUMSANI ANDRIESON DLAMINI Submitted in partial fulfilment of the requirements for the degree of MAGISTER IN BUSINESS ADMINISTRATION In the Faculty of Business Administration At the Nelson Mandela Metropolitan University (NMMU) Promoter: Lewis Victor Kaplan Submission Date: 30 November 2010 i PREFACE LIST OF FIGURES PAGE DECLARATION iii ACKNOWLEDGEMENTS iv ABSTRACT vi
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Chapter: 1.0 Introduction A performance appraisal‚ employee appraisal‚ performance review‚ or (career) development discussion is a method by which the job performance of an employee is evaluated (generally in terms of quality‚ quantity‚ cost‚ and time) typically by the corresponding manager or supervisor. A performance appraisal is a part of guiding and managing career development. It is the process of obtaining‚ analyzing‚ and recording information about the relative worth of an employee to the
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variances: Standard is out of date; Standard set without due care; Efficient or inefficient buying (e.g.‚ discounts); Buying different quality material from standard; Buying materials from a non‑usual source due to urgency; Utilising different labour from standard; Price changes due to economic conditions; scarcity of supplies; Choosing to incur additional discretionary fixed costs; More (or less) overtime hours used than budgeted. 2. Efficiency/usage/quantity variances: Standard is out of date‚ set without
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