What is Job Order Costing
Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.
Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three
Cost or Benefit Analysis: The Cost-benefit analysis (abbreviated as CBA) is an analytical device for assessing and pros and cons of moving forward with the business proposal. It is a process by which business decis
Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o
Write a short note on selecting strategic options and formulating the plans?
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
Write down a short note on the developing objectives and plans in decision making process?
Inter-Entity: A term meaning between or among distinct federal reporting entities. It generally refers to the activities or costs among two or more agencies, bureaus or departments.
Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
What do you mean by the term position analysis in a business? Briefly illustrate it.
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