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NEW SOLVED: ACC 561 ACC 561 : Accounting at University Of Phoenix
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NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
Cost Accounting SystemsBRENDA GROSS, KRISTINA JOHNSON, NICOLE MORIN, NIESHA SWEETACC/561JANUARY 16, 2017JASON SEE.
NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
IntroductionCost accounting is defined as “An area of accounting that involves measuring, recording, and reporting product cost.” (Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016) All manufacturing companies will use a cost accounting system to maintain their accuracy of product cost information (i.e. Products to produce and their price) and populate neccesary data for their income and balance sheet financial statements. In cost accounting there are two main systems that an organization can choose between based on their type of manufacturing.
Purpose of an Effective Cost Accounting System•Profitability•Analysis•Inventory Valuation•Cost Control
Purpose of an Effective Cost Accounting System•Control Current Operations•Plan for the Future•Control Current Operations•Plan for the Future
•Identification•Analysis•Communication MetricsElements of an Effective Cost Accounting System
Types of Cost Accounting SystemsJob OrderProcessHybr
Description
NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
Cost Accounting SystemsBRENDA GROSS, KRISTINA JOHNSON, NICOLE MORIN, NIESHA SWEETACC/561JANUARY 16, 2017JASON SEE
IntroductionCost accounting is defined as “An area of accounting that involves measuring, recording, and reporting product cost.” (Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016) All manufacturing companies will use a cost accounting system to maintain their accuracy of product cost information (i.e. Products to produce and their price) and populate neccesary data for their income and balance sheet financial statements. In cost accounting there are two main systems that an organization can choose between based on their type of manufacturing.
NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
Purpose of an Effective Cost Accounting System•Profitability•Analysis•Inventory Valuation•Cost Control
Purpose of an Effective Cost Accounting System•Control Current Operations•Plan for the Future•Control Current Operations•Plan for the Future
•Identification•Analysis•Communication MetricsElements of an Effective Cost Accounting System
Types of Cost Accounting SystemsJob OrderProcessHybrid
NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
5 pagesNEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
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NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
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NEW SOLUTION: ACC 561 ACC 561 : Accounting at University Of Phoenix
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