Which action determines the characteristic of responsibility?

What force have caused cost and management accounting system designed decade's ago to become less relevance and less valuable fo

kherson [118]

Answer with its Explanation:

The forces that had lessened the importance of the cost and management accounting systems in today's dynamic world are as under:

The ancient bookkeeping and the costing techniques were very time consuming and the accounting systems were also not integrated with the financial accounting systems. Today we have very robust and integrated systems which helps the management of the business operations nation wide with greater security and better performance than the previous old versions.
The complexity of the organization operations have resulted in origination of additional management accounting techniques that were adapted in the form of automated software, that are used to produce management reports on daily, weekly, monthly and yearly basis. The examples include the Throughput costing, Activity based costing, Bench-marking techniques, etc.
The activities automation has led to attaining of maximum efficiency possible in some areas which wasn't possible in the past. The robots management systems, activity automation, etc has increased the fixed cost share in the total cost and the variable cost has become a very minute share of the total cost of the activity. This variable cost which is often referred to as controllable cost, is very less in percentage share of total cost today than 10 years back. In the future, we will see it as a very very very small share of total cost. This makes the today's management costing techniques obsolete and requires new solutions, new techniques, new softwares, etc. to manage the companies operations.

5 0

3 years ago

Suppose you could quantify the amount of satisfaction you receive from consuming ice cream in money terms. You might say, "I exp

galben [10]

Answer:

No, since the marginal cost of consuming the ice cream cone is greater than the marginal benefit.

Explanation:

Marginal utility is the benefit that a consumer derives from consuming an extra unit of a product. To maximise satisfaction consumers tend to go for products that will give them high satisfaction at a low cost.

In the given scenario the cost of a unit of ice cream cone is $3.05, and the satisfaction or benefit is $3. The cost is higher than satisfaction gained. A consumer will not buy the ice cream under these conditions. They will rather look for an alternative that will give high satisfaction at low cost.

5 0

3 years ago

A company's environment consists of both a microenvironment and a macroenvironment — forces outside of marketing that affect a m

laila [671]

The correct answer would be like,

Micro Environments: A, C, D

Macro Environments: B, E, F

Explanation:

There are two types of environments that affect companies. These are

Micro Environment
Macro Environment

Micro environment includes forces that are close to the company.

Macro environment includes larger societal factors that affect the micro environments and the company.

In option A, it is told that schools are encouraging students to bring smartphones and tabs to the class. This would be a micro environmental factor.

In option B, Media is involved, in which it is told that some school is getting media coverage. It means it will have an overall impact on the environment. So it will be included in the macro environmental factor

In option C, Finance department of a company is involved, which would again be a micro environmental factor, which would have effect on the internal working of the firm.

In option D, some demands are placed by the GenX offspring in the school, which would be a micro environmental factor.

In option E, Economic Downturn is discussed, which is no doubt a macro environmental factor as it discusses the impact of the slow economy on the overall school enrollments.

In option F, Competitors are being discussed, which means that outside a firm's factor are discussed, which will again fall in the category of Macro Environmental Factors.

Learn more about Micro and Macro Economics at:

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4 0

3 years ago

Midshipmen Company borrows $11,500 from Falcon Company on July 1, 2018. Midshipmen repays the amount borrowed and pays interest

hoa [83]

Answer:

Part 1:

Account Debit Credit

Cash $11,500

Notes Payable $11,500

(On 12% Interest)

Part 2:

Account Debit Credit

Interest Expense $690

Interest Payable $690

Part 3:

Interest Expense = $690

Interest Payable = $690

Explanation:

Part 1:

July 1, 2018 Midshipmen borrows $11,500 from Falcon Company.

Account Debit Credit

Cash $11,500

Notes Payable $11,500

(On 12% Interest)

Part 2:

From july 1,2018 to Dec 31,2018, Interest expense has accumulated for 6 months. Since each month the interest is 1% so For each month interest is

($11500 * 1% = $115).

For 6 months Interest expense = $115 * 6

For 6 months Interest expense = $690

General Entry:

Account Debit Credit

Interest Expense $690

Interest Payable $690

Part 3:

Same as Part 2 i.e

From july 1,2018 to Dec 31,2018, Interest expense has accumulated for 6 months. Since each month the interest is 1% so For each month interest is

($11500 * 1% = $115).

For 6 months Interest expense = $115 * 6

For 6 months Interest expense = $690

Interest Expense = $690

Interest Payable = $690

5 0

3 years ago

Suppose your expenses for this term are as follows: tuition: $28,000, room and board: $9,000, books and other educational su

astraxan [27]

Answer: Option C is correct

Explanation:

Opportunity cost or loss is the contribution lost due to the leaving one opportunity to exploit the other one. So in this case, the opportunity that I am going to exploit is going to college this term. So according to relevant costing the relevant cost is:

(a) Cash flow in nature.

(b) Future contract binding (future related)

(c) Incremental cost or differential cost

To find whether the cost is incremental cost or not we can find through the following method.

Step 1: Find the cash flow that is arising due to the decision?

Step 2: Find the cash flow arising if we don't take the decision?

Step 3: The difference of step 1 and 2 is differential or incremental cost.

All the inflows and outflows are cash flow in nature and future related. The only thing we have to find is that whether or not the cost is incremental or not.

For this Term:

Step 1 Step 2 Step 3

Take Decision If we Don't Incremental

Salary loss (42-16) (26,000) - (26,000)

Tuition cost (28,000) - (28,000)

Room and Board (9,000) - (9,000)

Books and Edc. Supplies (2,500) - (2,500)

TOTAL COSTS (65,500)

Kindly also review the following question for you better understanding

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8 0

4 years ago