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How Cost Accounting Distorts Product Costs (Example)

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Name: Professor: Course:Date: Summary of the Young Reader Case Cost accounting generally refers to the process that involves the recording of every cost incurred by a business entity in an aim to be utilized to make its management more effective. Business managers therefore require such information about their businesses to be collected recorded classified analyzed summarized and evaluated in a bid to reveal just how much has been spent in running the entirety of the business. While cost accounting is normally conducted in order to improve a business it may have profound effects on the cost of products based on various approaches as highlighted in the caseCITATION RCo04 \p 20 \l 1033 (Cooper and Kaplan 20). Anticipated costs and profitability tend to have a major role in product decision making. This includes product design product introduction as well as the efforts channeled towards product marketing. The concept of full the basis of creating a product. It includes materials labor production supplies and factory overhead all if which are basically costs. In terms of services it is constituted by the cost of labor necessary to deliver them to clients. Drawing what we have covered in class discussions and what is contained in this case it is possible to determine significant relationships between the two since they both address the aforementioned subjects from a similar front. Summary A majority of product costs are exclusively variable costs in nature depending a lot on a company’s output. In the end a comprehensive product cost system provides a much better managerial framework for pricing decisions. Works Cited BIBLIOGRAPHY \l 1033 Cooper R. and R. S. Kaplan. "How Cost Accounting Distorts Product Costs." Management Accounting (1988): 20-27. Horngren Charles T. Srikant M.Datar and Madhav V. Rajan. Cost Accounting: A Managerial Emphasis. Prentice Hall 2011. [...]

Order Description:

Each student in the class must make an online presentation using the Discussion thread facility of Canvas based on any not-previously-claimed reading in the Young reader. It is first come-first-served. Your presentation topic will be scheduled to very very roughly match the corresponding text material. For example, if you choose a budgeting case from the Young reader, your presentation will be scheduled close to when we cover budgeting. The other students in the class are responsible for asking questions in response to the Discussion Board posting. TO THE EXTENT POSSIBLE, please try to find ways to relate the Young reader example to your current, prior, or hoped for future work situation. ALSO, you are required to relate the case to the classwork itself. A course like this, for MBAs, is best done with the students constantly tying the course content to their everyday work life. Doing so will make the content more meaningful for you and demonstrate how mastery of this content will help you going forward. Maximum of 6 pages. 1” margins on all four sides. 1.5 line spacing. Times-Roman font, 11 point font. All cases should have the following structure: Summary of the Young Reader Case Relationship of the Case to your work experience Relationship of the Case to material covered in class. Summary my work experience 3 years in Personal financial services division

Subject Area: Accounting

Document Type: Dissertation

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $30

Words 1100

Pages 4

Completed in 2 days

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Great work.. On time. well done.

Positive
04.09.2017

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