Cost accounting systems are used to Accumulate period cost and assign them to products or services.
Cost accounting systems are useful in both manufacturing and service industries. This system is used to determine product costs, or the total cost of a product, which includes overhead, materials, and labour. According to a number of variables, including worker hours, machine hours, and other considerations, period costs are given to items.
Cost accounting, according to the Terminology of Cost Accounting, is the process of accounting for costs from the point at which expenditure is spent or committed through the development of its final relationship with cost centres and cost units (England).
<u>The purpose and role of cost accounting</u>
These are the primary goals or duties of cost accounting:
- Cost reduction and cost control
- Decision-making, control, and preparation
- Pricing fixation for sales
- Calculating the projected profit or loss for each activity.
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Answer:
Retained earnings refers to:
D. The net losses and dividends declared since its inception of a company's cumulative net profit.
Explanation:
Retained earnings are referred as :
- The overall earning the company have made till the present date.
- This earning excludes the dividend money and the money of the investors distributed.
- Whenever new records are made for the company this dividend money is readjusted.
- This leftover money has an impact on the account related to the expense and revenue.
- The retained earnings are built of the total income amount which has been given by a business after paying off the dividend to the shareholders.
So, here correct option is
D. The net losses and dividends declared since its inception of a company's cumulative net profit.
Answer:
Sort by Column B, ZA
Explanation:
The spreadsheet is the software which enables the accountants and business managers to handle complex calculation with ease. Mr.Ibanez has asked students to organize the spreadsheet with names according to descending order. The names are listed in column B. The student should select the area and then click sort option. The dialogue box will appear which will ask to sort according to ascending or descending.
Answer:
The correct option here is C) Nutritional labeling and education act.
Explanation:
NLEA or commonly know as nutritional labeling and education act is a new rule passed by the government , which requires the sellers or marketers of a product to show all the information regarding number of grams of fat ( whether trans fat, saturated or saturated fat ) on the packaging of the product.
Auditors may be inclined to accept client representations because of a natural bias to want <span>to trust the client.
Before doing the auditing process, auditor usually receive a small briefing from the management team on the financial system that they use in recording their transactions. </span>If these allowances had been used in the past the auditor<span> may have been inclined to accept them as regular business practices</span>
