PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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------------------------------------------------- ASSIGNMENT ON COST CONTROL AND COST REDUCTION ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
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COMPLAINT HANDLING AND SERVICE RECOVERY RELIABILITY IS CRITICAL IN SERVICE BUT… In all service contexts‚ service failure is inevitable. Service failure occurs when service performance falls below a customer’s expectations in such a way that leads to customer dissatisfaction. Service recovery refers to the actions taken by a firm in response to service failure. KEY QUESTIONS FOR MANAGERS TO ASK ABOUT CUSTOMER COMPLAINING BEHAVIOR Why do customers complain? What proportion of unhappy
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Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
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Quiz 2 1) Cost-volume-profit analysis is used primarily by management: A) as a planning tool B) for control purposes C) to prepare external financial statements D) to attain accurate financial results Answer: A Diff: 1 Terms: cost-volume-profit (CVP) Objective: 1 AACSB: Communication 2) One of the first steps to take when using CVP analysis to help make decisions is: A) finding out where the total costs line intersects with the total revenues line on a graph. B) identifying which costs are variable
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Hair Transplant Recovery Timeline Hair transplant surgery is moderately complicated and takes about 4 hours to complete. Since‚ the results of the surgery greatly depend upon the skill of the hair transplant expert‚ it is a must that you invest some time and efforts to research for the best hair transplant clinic in your area. The next step is to schedule a preliminary meeting with hair transplant expert. During this meeting‚ the doctor will try to assess the causes behind your hair loss
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Nashville‚ Tennessee to Atlanta‚ Georgia‚ two highly respected colleges sit at the corner of academic excellence and social experience. Both universities provide the opportunity for success for anyone who attends. The choice between Vanderbilt University and Emory University is an extremely difficult one. Based on my research‚ Vanderbilt University and Emory University are both acceptable options of schools to consider because of their excellent major options‚ rigorous academics‚ and a strong social aspect
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"The Stanford Prison Experiment was a landmark psychological study of the human response to captivity‚ in particular‚ to the real world circumstances of prison life." What was a psychological study? More as‚ what was the Stanford Prison Experiment? As soon as those words popped up on my screen‚ the very next thing I did was Google it. The very first things that appeared was a deep explanation of exactly what it was; "an attempt to investigate the psychological effects of power between prisoners and
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Disaster Recovery Plan Student Name: Christopher Robinson University of Phoenix IT/244 Intro to IT Security Instructor’s Name: Benny Lane Date: January 29th‚ 2012 Disaster Recovery Plan Due in Week Three: For your selected scenario‚ describe the key elements of the Disaster Recovery Plan to be used in case of a disaster and the plan for testing the DRP. 1 Risk Assessment 1 Critical business processes List the mission-critical business systems and services
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COST SHEET – FORMAT |Particulars |Amount |Amount | |Opening Stock of Raw Material | *** | | |Add: Purchase of Raw materials |*** | | |Add: Purchase Expenses
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