Accounting Theory And History Accounting Essay
Accounting has evolved since it was first developed and has prolonged to evolve. The purpose of this essay is to explore and discuss why accounting, both financial and management has modified during the last millennium. To be able to achieve this purpose an in-depth methodology will be taken into the origins of accounting, its purpose and need. This means examining history documents that happen to be evidence-based but are intertwined with value judgement. A variety of theoretical..
Advantages Of Standard Costing Accounting Essay
Despite advantages just noted for a few applications of standard costing, there are considerably more situations where it isn't a practical costing system. Here are some problem areas:
Cost-plus contracts. If you have a agreement with a person under which the customer compensates you for your costs incurred, and also a income (known as a cost-plus deal), then you must use actual costs, according to the conditions of the deal. Standard costing is not allowed.