Activity-based costing (ABC) is a costing model that identifies activities in an organization and assigns the cost of each activity resource to all products and services according to the actual consumption by each. It also assigns more indirect costs (overhead) into direct costs. In business organization‚ the ABC methodology assigns an organization’s resource costs through activities to the products and services provided to its customers. It is generally used as a tool for understanding product and
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Sterling 1973 Article Summary During the opening of the article the author Robert Sterling declares the purpose of discussing the inconsistencies between research accounting‚ educational accounting‚ and professional practicing accounting. The reason being for these differences between the major arenas of accounting is the isolation of research results from both practice and education. However‚ the absence of conflicts between education and practice is due to the harmony between educators preparing
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Article Summary and Reflection #2 Reference Choy‚ S. C.‚ & Cheah‚ P. K. (2009). teacher perceptions of critical thinking among students and its influence on higher education. International Journal of Teaching and Learning in Higher Education ‚ 20 (2)‚ 198-206. Teacher Perceptions of Critical Thinking Among Students and its Influence on Higher Education Research Question: What are the roles the students and teachers must play in developing a critical thinking environment and how does the understanding
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IMPLEMENTATION OF SCIENTIFIC COSTING IN BULK DRUG AND R&D DEPARTMENT OF A PHARMA INDUSTRY Submitted By KAUSTUBH NIJASURE Under the guidance of Prof. P.M. Nayak A PROJECT SUBMITTED IN PART COMPLETITION OF MMS TO THE Vidyalankar Institute Of Technology Wadala (East)‚ Mumbai 400 031 JULY 14th‚ 2008 Executive summary: Centaur Pharmaceuticals Pvt. Ltd. has following divisions: 1. Bulk Drug 2. Formulations 3. Research and Development 4. Clinical Research
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KAIZEN COSTING FOR A RESTAURANT ABSTRACT Kaizen is a Japanese term for “continuous improvement” or “continual improvement”. A philosophy that involves making the work environment more efficient and effective. Kaizen aims to eliminate waste such as “activities that adds cost but does not add value”. It also means “to take it apart and put it back together in a better way”. This is then followed by standardization of this ‘better way’ with others‚ through standardized work. The key objectives
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Summary 5 Authoritative Articles “Racism in Heart of Darkness” Chinua Achebe’s article "An Image of Africa: Racism in Conrad’s ’Heart of Darkness’" was basically written about the racism Achebe encountered in “Heart of Darkness”. Achebe criticizes Joseph Conrad for his racist stereotypes towards the continent and people of Africa. Achebe claims that Conrad spread the image that people imagined rather than portraying Africa in its true form. Africans were shown in “Heart of Darkness” as savages
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MARGINAL AND ABSORPTION COSTING Marginal costing is a technique in which production units are valued at marginal cost of production and fixed costs are written off as period costs. It follows that‚ stocks are valued using only the variable cost of production whereas fixed costs are treated as relating to the period and must be taken off in total. Management accounting is based on marginal costing. TERMINOLOGY USED. Gross contribution: Is the difference between sales value and variable costs
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ARTICLE SUMMARY OF THE DANGERS OF SOCIAL RESPONSIBILITY 1. A sentence that provides a synopsis of the article. The article mainly discusses about the dangers and downfall with management’s social responsibility. The author argues that self-conscious dedication to social responsibility could have started as a purely defensive mechanism by the company against strident attacks on big corporations and on the moral efficacy of the profit system. It does not reflect a change in businessmen’s nature or
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Title of article: “The relationship between customer loyalty and customer satisfaction.” Reference of article: John‚ T.‚ Bowen‚ & Shiang‚ Lih.‚ Chen. (2001). The relationship between customer loyalty and customer satisfaction. International Journal of Contemporary Hospitality Management‚ 13(5)‚ pp. 213-217. Type of article: Scholarly_ research based article. SUMMARY The research is mainly conducted to identify and implement those factors in “hotel” that help to increase “customer
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Article Summary: Emerging Giants Many local companies lost their market shares or sold off their businesses when global or multinational companies from developed markets such as US‚ Germany‚ and Japan got into the emerging markets. However‚ some local companies held out against and exorcised multinationals. In this article‚ the authors instantiate this kind of local companies by explaining that Mahindra & Mahindra in India and Haier Group in China have barraged out their own rivals‚ reset
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