Reaping the benefits of IT
What do you mean by the term reaping the benefits of IT? Explain n brief?
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The impact of information technology or IT on the development of management accounting is difficult to overstate. The capability of computers to process big amounts of information signifies that routine reports can be generated rapidly and accurately.
In reality, certain reports might be generated on a daily or even real-time basis. This can be imperative to businesses operating in a highly competitive atmosphere that risk the loss of competitive benefit from making decisions mainly based on imprecise or out-of-date reports. IT has as well enabled information to be more broadly spread all through the business. Rousingly, via their personal computers, staff at all levels is capable to gain access to relevant reports and information to guide their actions and decisions.
Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs. Q : Assigning Support cost What are various What are various methods to assign support cost?
What are various methods to assign support cost?
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Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o
Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.
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