The document provides an overview of the supply chain management processes at English Biscuits Manufacturers (EBM). It describes the key departments involved including material management, finance, production, marketing and sales. It outlines the business processes from acquiring raw materials to manufacturing biscuits to distribution. It also provides details about how biscuits are made and the roles of different departments like managing suppliers, storing raw materials, production planning, quality control, warehousing finished goods and order fulfillment.
This chapter discusses responsibility accounting, quality control, and environmental cost management. It covers topics such as using responsibility accounting to measure the performance of departments, different types of responsibility centers, preparing performance reports, cost allocation, activity-based responsibility accounting, behavioral effects of responsibility accounting, segmented reporting, total quality management, cost of quality, ISO 9000 quality standards, and environmental cost strategies.
Charoen Pokphand Foods Plc.’s Quest to become the Kitchen of the World: An Ov...inventionjournals
This document provides an overview of Charoen Pokphand Foods Plc.'s (CPF) journey to becoming the "Kitchen of the World." CPF is a leading agro-industrial and food company based in Thailand that operates globally. The summary discusses how CPF realigned its goals to better understand customer needs and market the right products to the right customers. It also outlines CPF's business model, operations in over 30 countries, and achievements that validate its claim to becoming the Kitchen of the World, including recognition on sustainability indices and significant annual sales revenues.
This business plan proposes setting up a food cart within a school campus. It includes an analysis of the food cart industry, competitors, target market, and environmental factors. The plan outlines products/services like burgers and salads to be offered at competitive prices. A social media and website based marketing strategy is proposed. The plan involves 3 personnel and obtaining licenses to set up the cart and operate legally within the school. Financial projections and milestones are included to track progress.
The document is a business plan report for a proposed food truck business called "Unity Food Truck". It includes sections on the market analysis, organization and management, and financial projections. The business aims to provide quality food and customer service. The target market is people who want to eat food in various locations. The food truck industry has grown in recent years due to changing consumer preferences for unique cuisine. The business plans to focus on targeted customer segments and develop a marketing message around its offerings. It also outlines challenges such as regulations and competition that food trucks may face.
This document is a thesis submitted by Serkaddis Fekade to the Addis Ababa University in partial fulfillment of the requirements for a master's degree in accounting and finance. The thesis examines the impact of accounting information systems on organizational performance at the Pharmaceutical Fund and Supply Agency in Ethiopia. It includes an introduction, literature review, methodology, data analysis and results, and conclusions. The thesis was supervised by Dr. Venkati and seeks to determine how accounting information systems contribute to organizational effectiveness at PFSA.
Luận Văn Thạc Sĩ Enhancing Consumer Perceived Quality: A Case Of Vinamilk Infant Formula Milk Powder đã chia sẻ đến cho các bạn nguồn tài liệu hoàn toàn hữu ích. Nếu các bạn có nhu cầu cần tải bài mẫu này vui lòng nhắn tin ngay qua zalo/telegram : 0932.091.562 để được hỗ trợ tải nhé!
The document provides an overview of the supply chain management processes at English Biscuits Manufacturers (EBM). It describes the key departments involved including material management, finance, production, marketing and sales. It outlines the business processes from acquiring raw materials to manufacturing biscuits to distribution. It also provides details about how biscuits are made and the roles of different departments like managing suppliers, storing raw materials, production planning, quality control, warehousing finished goods and order fulfillment.
This chapter discusses responsibility accounting, quality control, and environmental cost management. It covers topics such as using responsibility accounting to measure the performance of departments, different types of responsibility centers, preparing performance reports, cost allocation, activity-based responsibility accounting, behavioral effects of responsibility accounting, segmented reporting, total quality management, cost of quality, ISO 9000 quality standards, and environmental cost strategies.
Charoen Pokphand Foods Plc.’s Quest to become the Kitchen of the World: An Ov...inventionjournals
This document provides an overview of Charoen Pokphand Foods Plc.'s (CPF) journey to becoming the "Kitchen of the World." CPF is a leading agro-industrial and food company based in Thailand that operates globally. The summary discusses how CPF realigned its goals to better understand customer needs and market the right products to the right customers. It also outlines CPF's business model, operations in over 30 countries, and achievements that validate its claim to becoming the Kitchen of the World, including recognition on sustainability indices and significant annual sales revenues.
This business plan proposes setting up a food cart within a school campus. It includes an analysis of the food cart industry, competitors, target market, and environmental factors. The plan outlines products/services like burgers and salads to be offered at competitive prices. A social media and website based marketing strategy is proposed. The plan involves 3 personnel and obtaining licenses to set up the cart and operate legally within the school. Financial projections and milestones are included to track progress.
The document is a business plan report for a proposed food truck business called "Unity Food Truck". It includes sections on the market analysis, organization and management, and financial projections. The business aims to provide quality food and customer service. The target market is people who want to eat food in various locations. The food truck industry has grown in recent years due to changing consumer preferences for unique cuisine. The business plans to focus on targeted customer segments and develop a marketing message around its offerings. It also outlines challenges such as regulations and competition that food trucks may face.
This document is a thesis submitted by Serkaddis Fekade to the Addis Ababa University in partial fulfillment of the requirements for a master's degree in accounting and finance. The thesis examines the impact of accounting information systems on organizational performance at the Pharmaceutical Fund and Supply Agency in Ethiopia. It includes an introduction, literature review, methodology, data analysis and results, and conclusions. The thesis was supervised by Dr. Venkati and seeks to determine how accounting information systems contribute to organizational effectiveness at PFSA.
Luận Văn Thạc Sĩ Enhancing Consumer Perceived Quality: A Case Of Vinamilk Infant Formula Milk Powder đã chia sẻ đến cho các bạn nguồn tài liệu hoàn toàn hữu ích. Nếu các bạn có nhu cầu cần tải bài mẫu này vui lòng nhắn tin ngay qua zalo/telegram : 0932.091.562 để được hỗ trợ tải nhé!
ITS835 enterprise risk managementChapter 4 & 7ERM at statoil.docxvrickens
ITS835 enterprise risk management
Chapter 4 & 7
ERM at statoil and united grain growers
1
University of Cumberlands
Introduction
History of Statoil
ERM at Statoil
United Grain Growers Background
ERM at Grain Growers
Conclusion
2
University of Cumberlands
Statoil History
Headquartered in Stavanger, Norway
World’s top 10 oil and gas producers
706 billion in revenue
23,000 employees
2,004 million barrels of oil
40 year history of producing oil
3
University of Cumberlands
Erm at statoil
Goals: create value and avoid accidents
Wanted a way to manage risks
Recognize risk taking is unavoidable even necessary to create value for shareholders
Risk Map
Upside potential and downside risk for a risk factor
Reported risks are listed twice
Value Creation is the guiding principle for an ERM
Viewing risks in a value chain
Value Chain has 3 main stages
Exploration and development of oil and gas reserves
Refinement of hydrocarbons into various gas products
Selling of gas, oil and products into different markets
Risks divided into 2 categories: market and operational risks
ERM Processes
Quarterly rhythm with meetings
Write response to business units
Risk department is supervisor of the risk mapping process
Support business and encourages best practices
Risk mapping, quantification of probability and impact considered
4
University of Cumberlands
Total risk optimization: lessons learned
Tacked the task of avoiding risk management decisions that are suboptimal for the company.
Established KPIs and scorecards
Spent time on beforehand thinking about what ERM should look like
Risk Committee Roles and Responsibilities
5
University of Cumberlands
conclusion
Evolution of ERM over time based on organizational goals and values
ERM Processes to minimize risks and optimize it
Consider upside and downside potential risk during assessment exercise
ERM to increase organizational performance
6
University of Cumberlands
United grain growers overview
Commodity traded company
Focused on grain grown in Canadian
Factors the impact operations
Government regulation
Political risk
Governance
7
University of Cumberlands
UGG Leadership
Structure
CEO
Board of Directors
1906 Farmed-owned cooperative
Bureaucratic business model
Early 1990s suffered financial distressed
Breach of bank covenants and losing cash
CEO suggested drastic changes to help increase operational and financial performance
8
University of Cumberlands
Ugg erm process
Identify and access principle risks
ERM exercise to identify risks
Two approaches to address problems
Developed Strategic Plan to improve financial dividends and balance sheet numbers
Credit Financial Outcomes
Merger with Agricore United through risk financing program
9
University of Cumberlands
conclusion
ERM Usage to help with Financial Risk
Outcomes of using ERM
Leadership Changes due to ERM
10
University of Cumberlands
ITS835 enterprise risk management
Chapter 4 & 7
ERM at statoil and united grain growers
1
University of C ...
How could the linkage between upstream and downstream value chain activities...musadoto
The firm's margin or profit then depends on its effectiveness in performing these activities
efficiently, so that the amount that the customer is willing to pay for the products exceeds the
cost of the activities in the value chain. It is in these activities that a firm has the opportunity to
generate superior value. A competitive advantage may be achieved by reconfiguring the value
chain to provide lower cost or better differentiation.
The value chain model is a useful analysis tool for defining a firm's core competencies and the activities in which it can pursue a competitive advantage in terms of Cost advantage(by better understanding costs and squeezing them out of the value-adding activities) and Differentiation( by focusing on those activities associated with core competencies and capabilities in order to perform them better than do competitors
,
,
,
This document contains the contents page for a business studies textbook. It lists 49 chapters organized under 5 sections: Business and the environment in which it operates; Human resources; Accounting and finance; Marketing; and Production. Some of the chapter topics include business objectives, types of business organizations, government influence on businesses, and sources of finance. The contents page provides an overview of the key topics that will be covered in the textbook.
Here are the key points regarding value added marketing with respect to Blue Jet Airways:
1. Tangible value - Features and benefits of the core product/service such as on-time flights, comfort, safety, etc. This helps meet basic customer needs.
2. Intangible value - Non-core offerings that enhance the customer experience. For Blue Jet, this could include loyalty programs, lounge access, priority boarding, extra baggage allowance, etc. This helps build emotional connections.
3. Value is defined not just by the firm but also from the customer's perspective. Blue Jet needs to understand what truly matters to its target flyers and tailor its offerings accordingly.
4. Value is also co
1. The document discusses how associations can leverage their unique strengths to create sustainable value and drive innovation in their industries through large-scale collaborations and Appreciative Inquiry summits.
2. It provides the example of a dairy industry sustainability summit that engaged 250 stakeholders to generate initiatives to reduce greenhouse gas emissions and increase business value across the dairy supply chain.
3. Three essential success factors for associations to create sustainable value are avoiding the temptation to just "do good" and instead focus on opportunities to create sustainable value, embracing and playing to their strengths in convening, accelerating innovation, and scaling solutions, and recognizing that sustainability is a major business opportunity and management trend for the 21st century.
The document discusses opportunities and challenges for value addition and processing of agricultural products in India. It notes that while India is a major producer of many agricultural commodities, it processes less than 2% of its output and wastes a significant portion of crops. The document argues for strategies to increase agro-processing and value addition in India in order to reduce losses, increase incomes, and better utilize agricultural resources.
True Value Accounting for Multi Dimension Management is an initiative to make it possible to use better metrics so that we have better outcomes for both people and the environment. The initiative is built on top of the methods traditionally associated with conventional double entry accountancy, but applied to everything that makes up the complex ubiquitous socio-enviro-economic system. We have amazing possibilities, but as long as money and greed are the dominant incentive with nothing else of importance being measured, it should be no surprise that the world is suffering from an accelerating race to the bottom. This can be changed, and one of the tools for this should be better metrics along the lines being described by TrueValueMetrics.org. Peter Drucker famously said: 'You manage what you measure', but it is also important to measure the things that matter.
Cost-Benefit Analysis of Outsourcing Cleaning Services at Mahalapye Hospital,...HFG Project
Resource Type: Report
Authors: Jonathan Cali, Heather Cogswell, Mompati Buzwani, Elizabeth Ohadi, and Carlos Avila
Published: June 30, 2015
Resource Description:
The Government of Botswana (GoB) is currently implementing a long-term strategy to diversify the economy, create opportunities for growth in the private sector, and increase the efficiency of the public sector. Outsourcing service delivery is one of four main approaches to privatisation outlined in the GoB’s policies, and the Ministry of Health (MoH) has been a leader in the privatisation policy by initiating outsourcing of nonclinical services at seven regional and district hospitals. Without complete data on the costs of services, hospital managers have been signing outsourcing contracts without knowing whether outsourcing offers better value for money than the current ‘insourcing’ system, in which hospitals provide the nonclinical services in-house.
The HFG project, with support from the United States Agency for International Development (USAID), was tasked with exploring the costs and cost drivers of providing nonclinical support services at health facilities in Botswana to assist the MoH with planning, managing, and implementing its outsourcing strategy and programme. Based on a cost-benefit analysis of cleaning services at Mahalapye General Hospital, and observations from outsourcing in six other hospitals in Botswana, this report analyses the costs and benefits of outsourcing nonclinical services, and provides Botswana health authorities and managers with best practices and recommendations for determining whether they should outsource and at what price.
The document discusses the production possibility frontier (PPF), which shows the combinations of goods an economy can produce given limited resources. It explains that the PPF curve illustrates opportunity costs and increasing opportunity costs as an economy moves along the curve from one point to another. It also discusses how the PPF is used in microeconomics to analyze choices and in macroeconomics to analyze production and shifts in potential output over time. Additionally, the document outlines the circular flow of income between households and firms through goods and factor markets.
Report of activities of trade creditors section of the acme laboratories ltdMd Parvez Khan
The document provides an overview of The ACME Laboratories Ltd., one of the largest pharmaceutical companies in Bangladesh. It discusses the company's background, vision, mission, goals, objectives, core values, departments, products, and financial highlights. Key details include that ACME was established in 1954 and is the third largest manufacturer and exporter of pharmaceutical products in Bangladesh. It has over 20 sales centers across the country and exports to over 15 countries. The report also outlines the company's vision to ensure health, vigor and happiness for all through producing high quality and affordable medicines.
Ellen mac arthur foundation towards the circular economy vol.2Glenn Klith Andersen
This report examines the economic opportunities of transitioning from a linear "take-make-dispose" model of production and consumption to a circular economy model, with a focus on fast-moving consumer goods. It finds that a circular economy approach could generate hundreds of billions in material savings annually by recovering more value from resources through reuse and regeneration. Specific opportunities identified include generating $1.5 billion from food waste collection and $1.9-2 billion from cascading beverage processing waste to other industries. Transitioning to reusable packaging like glass bottles could also reduce costs. The report argues that companies adopting circular business models will be rewarded as resource constraints increase pressures on the linear economy.
This document provides an overview of a handbook for assessing and managing environmental and social risks in agro-commodity supply chains. The handbook covers topics such as the business case for managing supply chain risks, common environmental and social risks, environmental and social management systems, case studies of risk assessment and management, traceability, and certification. It also includes two toolkits for assessing and managing risks in supply chains. The document lists acronyms and introduces the structure and contents of the full handbook.
An analysis about current market positions of the Vanish toilet cleaner at to...Asib Ahmad
This report aims toward providing findings on current market position of Vanish Toilet Cleaner among the other companies of toilet cleaning industry. This report also tries to expose customer interest and awareness of toilet cleaner. The report is prepared within the broader framework of Internship Program of the Faculty of Business Administration of Atish Dipankar University of Science and Technology. While preparing this report it has been tried to reveal the insights of the marketing position of the company in this industry and a few recommendations and suggestions were also prescribed based on the observation and results.
Due to raising the awareness among the people of Bangladesh their healthcare, now they are conscious about toilet cleaning. Meanwhile, the competition in the toilet cleaning industry tremendously growing day by day for entering new business competitor. Harpic, of global household product maker of Reckitt Benckiser is the pioneer who introduce toilet cleaner first time in Bangladesh, they controls a majority of Bangladesh’s toilet cleaning market.
By following Harpic, some company also operate. By the continuation of this condition the ACI Limited launched Vanish Toilet Cleaner in 2003, but it was reborn in 2008 with new and attractive packaging with different functional pack size. Currently it is considered that they are the market challenger because, they are the second highest marketer in this industry. “Sakti” of Square Ltd. “Finpic” of Finish Co. “Clean Master” of Kohinoor Chemical Co. Ltd. also compete in this market.
This report Contain the 4p’s analysis whereas focuses the details of product, price, promotion, and place of the main brand who control the toilet cleaning in Bangladesh.
This report examines the actual competitive position among different company in diverse market in Dhaka. Other intend of this study to accumulate customers’ surveillance about the cleaner industry.
The aim of this paper is to analyze toilet cleaner products to make is more competitive in the toilet cleaning industries with a view to how to counter the ensuing challenge in the industry as a consequence of the changing business nature. Finally, indentifying the shortcomings of strategies Vanish Toilet Cleaner is currently applying an attempt has been made to recommend the strategic options for Vanish Toilet Cleaner to become more competitive in the toilet cleaning industry.
Running Head The InternationalGlobal Operations and Their Key .docxtoltonkendal
Running Head: The International/Global Operations and Their Key Markets and Potential Competitors
1
The International/Global Operations and Their Key Markets and Potential Competitors
2
Global Strategy Analysis—The International/Global Operations and Their Key Markets and Potential Competitors
B7840 Strategy Formulation, Implementation, and Evaluation
Argosy University
Christopher Walters
January 31, 2018
Introduction
Two brothers, Richard and Maurice McDonald started McDonald’s in 1940, initially as a drive-in fast food outlet. The Restaurant is based in San Bernardino California. The builder and Founder Raymond Kroc of the MacDonald's corporation was a salesman dealing in milkshake machines before meeting the Tow brothers in 1954. The company has sold about 100 million hamburgers by the year 1958. The company is operated either as an affiliate, a franchise or a corporation. The company obtains its revenue from royalties, rent, and fees paid by the franchisees as well as the sales in its operated restaurants (Salva, 1995).
Mission and vision statement
Vision
To be the leading and best fast food company around the world summarized in initials Q.S.C.V meaning quality, service, cleanliness, and value. This has been the driving and guiding force behind the services it offers to customers. The food products have been cited to be of the best value in the food industry, which makes the customers happy (Hartel, 2012).
Mission
To be the best company for workers around the world in every community, the company delivers services that have superior systems of operation for its customers in each and every one of its branches. The company seeks to grow and progress in a favorable direction as a brand, yet keeping up with the operational systems through technology and innovation
Core activities and Value chain analysis
Inbound logistics
The company coordinates the supply of materials and food to outlets through approved third party operators of the logistics systems. The company engages in production in big plants exclusively to have a control of the packaging and distribution systems.
Operations
The company is keen on following specific guidelines in the preparation and sales of food products. The company employs a computerized system of tracking orders and uses technology that ensures efficiency in food and service production.
Outbound logistics
The company has integrated efficient crew who distribute and store goods from the warehouse in the needed time in the distribution centers in its logistics making it are efficient in inventory management. The firm believes in breaking down its long-term goals into manageable and measurable targets that are used as accomplishment benchmarks of milestones. The firm gives its franchises the autonomy in making marketing decisions (Hartel, 2012).
General administration
The firm applies strategic planning and management concepts to ensure that its competitive strategy of client service is main ...
This document discusses business strategies for strengthening food value chains and reducing poverty in developing countries. It outlines the opportunity for businesses to engage the "base of the pyramid" market of 3.7 billion people earning $8 or less per day, who spend $1.3 trillion annually on food. 70% of this population depends on the food value chain. The document presents innovative business models that companies are using to engage smallholder farmers and consumers, and empower entrepreneurs through improved access to markets, financing, and infrastructure. It provides design principles for successful models, including creating life-enhancing offerings and collaborating through non-traditional partnerships. Finally, it recommends actions like prioritizing initiatives and facilitating corporate engagement to scale up these approaches
This document provides a business plan for expanding Kitchen Creations, a kitchen appliance company currently operating in the US, into international markets over the next 12 months. The plan outlines Kitchen Creations' history and management team, its current product offerings and plans to introduce two blender models internationally. It also discusses strategies for marketing, implementation in phases, management of the expansion, forecasted sales and costs. The goal is for Kitchen Creations to share its high quality, lifetime warranty products with customers around the world.
An overview of Food Machinery and Chemicals Corporation (FMC)’s Managerial hi...Ayesha Majid
FMC Corporation is an American chemical manufacturing company headquartered in Philadelphia, Pennsylvania. As a global leader utilizing advanced technologies and customer-focused research and development, FMC provides innovative and cost-effective solutions to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as in non-agricultural markets for pest control.
This document provides an overview of integrated supply chain management (ISCM) and recommendations for its implementation. It defines ISCM as coordinating the flow of goods, information, and funds from suppliers to customers. The document recommends using the Supply Chain Operations Reference (SCOR) model to assess a company's supply chain, which breaks the supply chain into planning, sourcing, production, and delivery processes. It also outlines a three phase approach to implementing ISCM - concept, conversion, and execution phases - and the key activities involved in each phase, such as assessing opportunities, developing strategies and organizational structures, and translating strategies into actions.
ITS835 enterprise risk managementChapter 4 & 7ERM at statoil.docxvrickens
ITS835 enterprise risk management
Chapter 4 & 7
ERM at statoil and united grain growers
1
University of Cumberlands
Introduction
History of Statoil
ERM at Statoil
United Grain Growers Background
ERM at Grain Growers
Conclusion
2
University of Cumberlands
Statoil History
Headquartered in Stavanger, Norway
World’s top 10 oil and gas producers
706 billion in revenue
23,000 employees
2,004 million barrels of oil
40 year history of producing oil
3
University of Cumberlands
Erm at statoil
Goals: create value and avoid accidents
Wanted a way to manage risks
Recognize risk taking is unavoidable even necessary to create value for shareholders
Risk Map
Upside potential and downside risk for a risk factor
Reported risks are listed twice
Value Creation is the guiding principle for an ERM
Viewing risks in a value chain
Value Chain has 3 main stages
Exploration and development of oil and gas reserves
Refinement of hydrocarbons into various gas products
Selling of gas, oil and products into different markets
Risks divided into 2 categories: market and operational risks
ERM Processes
Quarterly rhythm with meetings
Write response to business units
Risk department is supervisor of the risk mapping process
Support business and encourages best practices
Risk mapping, quantification of probability and impact considered
4
University of Cumberlands
Total risk optimization: lessons learned
Tacked the task of avoiding risk management decisions that are suboptimal for the company.
Established KPIs and scorecards
Spent time on beforehand thinking about what ERM should look like
Risk Committee Roles and Responsibilities
5
University of Cumberlands
conclusion
Evolution of ERM over time based on organizational goals and values
ERM Processes to minimize risks and optimize it
Consider upside and downside potential risk during assessment exercise
ERM to increase organizational performance
6
University of Cumberlands
United grain growers overview
Commodity traded company
Focused on grain grown in Canadian
Factors the impact operations
Government regulation
Political risk
Governance
7
University of Cumberlands
UGG Leadership
Structure
CEO
Board of Directors
1906 Farmed-owned cooperative
Bureaucratic business model
Early 1990s suffered financial distressed
Breach of bank covenants and losing cash
CEO suggested drastic changes to help increase operational and financial performance
8
University of Cumberlands
Ugg erm process
Identify and access principle risks
ERM exercise to identify risks
Two approaches to address problems
Developed Strategic Plan to improve financial dividends and balance sheet numbers
Credit Financial Outcomes
Merger with Agricore United through risk financing program
9
University of Cumberlands
conclusion
ERM Usage to help with Financial Risk
Outcomes of using ERM
Leadership Changes due to ERM
10
University of Cumberlands
ITS835 enterprise risk management
Chapter 4 & 7
ERM at statoil and united grain growers
1
University of C ...
How could the linkage between upstream and downstream value chain activities...musadoto
The firm's margin or profit then depends on its effectiveness in performing these activities
efficiently, so that the amount that the customer is willing to pay for the products exceeds the
cost of the activities in the value chain. It is in these activities that a firm has the opportunity to
generate superior value. A competitive advantage may be achieved by reconfiguring the value
chain to provide lower cost or better differentiation.
The value chain model is a useful analysis tool for defining a firm's core competencies and the activities in which it can pursue a competitive advantage in terms of Cost advantage(by better understanding costs and squeezing them out of the value-adding activities) and Differentiation( by focusing on those activities associated with core competencies and capabilities in order to perform them better than do competitors
,
,
,
This document contains the contents page for a business studies textbook. It lists 49 chapters organized under 5 sections: Business and the environment in which it operates; Human resources; Accounting and finance; Marketing; and Production. Some of the chapter topics include business objectives, types of business organizations, government influence on businesses, and sources of finance. The contents page provides an overview of the key topics that will be covered in the textbook.
Here are the key points regarding value added marketing with respect to Blue Jet Airways:
1. Tangible value - Features and benefits of the core product/service such as on-time flights, comfort, safety, etc. This helps meet basic customer needs.
2. Intangible value - Non-core offerings that enhance the customer experience. For Blue Jet, this could include loyalty programs, lounge access, priority boarding, extra baggage allowance, etc. This helps build emotional connections.
3. Value is defined not just by the firm but also from the customer's perspective. Blue Jet needs to understand what truly matters to its target flyers and tailor its offerings accordingly.
4. Value is also co
1. The document discusses how associations can leverage their unique strengths to create sustainable value and drive innovation in their industries through large-scale collaborations and Appreciative Inquiry summits.
2. It provides the example of a dairy industry sustainability summit that engaged 250 stakeholders to generate initiatives to reduce greenhouse gas emissions and increase business value across the dairy supply chain.
3. Three essential success factors for associations to create sustainable value are avoiding the temptation to just "do good" and instead focus on opportunities to create sustainable value, embracing and playing to their strengths in convening, accelerating innovation, and scaling solutions, and recognizing that sustainability is a major business opportunity and management trend for the 21st century.
The document discusses opportunities and challenges for value addition and processing of agricultural products in India. It notes that while India is a major producer of many agricultural commodities, it processes less than 2% of its output and wastes a significant portion of crops. The document argues for strategies to increase agro-processing and value addition in India in order to reduce losses, increase incomes, and better utilize agricultural resources.
True Value Accounting for Multi Dimension Management is an initiative to make it possible to use better metrics so that we have better outcomes for both people and the environment. The initiative is built on top of the methods traditionally associated with conventional double entry accountancy, but applied to everything that makes up the complex ubiquitous socio-enviro-economic system. We have amazing possibilities, but as long as money and greed are the dominant incentive with nothing else of importance being measured, it should be no surprise that the world is suffering from an accelerating race to the bottom. This can be changed, and one of the tools for this should be better metrics along the lines being described by TrueValueMetrics.org. Peter Drucker famously said: 'You manage what you measure', but it is also important to measure the things that matter.
Cost-Benefit Analysis of Outsourcing Cleaning Services at Mahalapye Hospital,...HFG Project
Resource Type: Report
Authors: Jonathan Cali, Heather Cogswell, Mompati Buzwani, Elizabeth Ohadi, and Carlos Avila
Published: June 30, 2015
Resource Description:
The Government of Botswana (GoB) is currently implementing a long-term strategy to diversify the economy, create opportunities for growth in the private sector, and increase the efficiency of the public sector. Outsourcing service delivery is one of four main approaches to privatisation outlined in the GoB’s policies, and the Ministry of Health (MoH) has been a leader in the privatisation policy by initiating outsourcing of nonclinical services at seven regional and district hospitals. Without complete data on the costs of services, hospital managers have been signing outsourcing contracts without knowing whether outsourcing offers better value for money than the current ‘insourcing’ system, in which hospitals provide the nonclinical services in-house.
The HFG project, with support from the United States Agency for International Development (USAID), was tasked with exploring the costs and cost drivers of providing nonclinical support services at health facilities in Botswana to assist the MoH with planning, managing, and implementing its outsourcing strategy and programme. Based on a cost-benefit analysis of cleaning services at Mahalapye General Hospital, and observations from outsourcing in six other hospitals in Botswana, this report analyses the costs and benefits of outsourcing nonclinical services, and provides Botswana health authorities and managers with best practices and recommendations for determining whether they should outsource and at what price.
The document discusses the production possibility frontier (PPF), which shows the combinations of goods an economy can produce given limited resources. It explains that the PPF curve illustrates opportunity costs and increasing opportunity costs as an economy moves along the curve from one point to another. It also discusses how the PPF is used in microeconomics to analyze choices and in macroeconomics to analyze production and shifts in potential output over time. Additionally, the document outlines the circular flow of income between households and firms through goods and factor markets.
Report of activities of trade creditors section of the acme laboratories ltdMd Parvez Khan
The document provides an overview of The ACME Laboratories Ltd., one of the largest pharmaceutical companies in Bangladesh. It discusses the company's background, vision, mission, goals, objectives, core values, departments, products, and financial highlights. Key details include that ACME was established in 1954 and is the third largest manufacturer and exporter of pharmaceutical products in Bangladesh. It has over 20 sales centers across the country and exports to over 15 countries. The report also outlines the company's vision to ensure health, vigor and happiness for all through producing high quality and affordable medicines.
Ellen mac arthur foundation towards the circular economy vol.2Glenn Klith Andersen
This report examines the economic opportunities of transitioning from a linear "take-make-dispose" model of production and consumption to a circular economy model, with a focus on fast-moving consumer goods. It finds that a circular economy approach could generate hundreds of billions in material savings annually by recovering more value from resources through reuse and regeneration. Specific opportunities identified include generating $1.5 billion from food waste collection and $1.9-2 billion from cascading beverage processing waste to other industries. Transitioning to reusable packaging like glass bottles could also reduce costs. The report argues that companies adopting circular business models will be rewarded as resource constraints increase pressures on the linear economy.
This document provides an overview of a handbook for assessing and managing environmental and social risks in agro-commodity supply chains. The handbook covers topics such as the business case for managing supply chain risks, common environmental and social risks, environmental and social management systems, case studies of risk assessment and management, traceability, and certification. It also includes two toolkits for assessing and managing risks in supply chains. The document lists acronyms and introduces the structure and contents of the full handbook.
An analysis about current market positions of the Vanish toilet cleaner at to...Asib Ahmad
This report aims toward providing findings on current market position of Vanish Toilet Cleaner among the other companies of toilet cleaning industry. This report also tries to expose customer interest and awareness of toilet cleaner. The report is prepared within the broader framework of Internship Program of the Faculty of Business Administration of Atish Dipankar University of Science and Technology. While preparing this report it has been tried to reveal the insights of the marketing position of the company in this industry and a few recommendations and suggestions were also prescribed based on the observation and results.
Due to raising the awareness among the people of Bangladesh their healthcare, now they are conscious about toilet cleaning. Meanwhile, the competition in the toilet cleaning industry tremendously growing day by day for entering new business competitor. Harpic, of global household product maker of Reckitt Benckiser is the pioneer who introduce toilet cleaner first time in Bangladesh, they controls a majority of Bangladesh’s toilet cleaning market.
By following Harpic, some company also operate. By the continuation of this condition the ACI Limited launched Vanish Toilet Cleaner in 2003, but it was reborn in 2008 with new and attractive packaging with different functional pack size. Currently it is considered that they are the market challenger because, they are the second highest marketer in this industry. “Sakti” of Square Ltd. “Finpic” of Finish Co. “Clean Master” of Kohinoor Chemical Co. Ltd. also compete in this market.
This report Contain the 4p’s analysis whereas focuses the details of product, price, promotion, and place of the main brand who control the toilet cleaning in Bangladesh.
This report examines the actual competitive position among different company in diverse market in Dhaka. Other intend of this study to accumulate customers’ surveillance about the cleaner industry.
The aim of this paper is to analyze toilet cleaner products to make is more competitive in the toilet cleaning industries with a view to how to counter the ensuing challenge in the industry as a consequence of the changing business nature. Finally, indentifying the shortcomings of strategies Vanish Toilet Cleaner is currently applying an attempt has been made to recommend the strategic options for Vanish Toilet Cleaner to become more competitive in the toilet cleaning industry.
Running Head The InternationalGlobal Operations and Their Key .docxtoltonkendal
Running Head: The International/Global Operations and Their Key Markets and Potential Competitors
1
The International/Global Operations and Their Key Markets and Potential Competitors
2
Global Strategy Analysis—The International/Global Operations and Their Key Markets and Potential Competitors
B7840 Strategy Formulation, Implementation, and Evaluation
Argosy University
Christopher Walters
January 31, 2018
Introduction
Two brothers, Richard and Maurice McDonald started McDonald’s in 1940, initially as a drive-in fast food outlet. The Restaurant is based in San Bernardino California. The builder and Founder Raymond Kroc of the MacDonald's corporation was a salesman dealing in milkshake machines before meeting the Tow brothers in 1954. The company has sold about 100 million hamburgers by the year 1958. The company is operated either as an affiliate, a franchise or a corporation. The company obtains its revenue from royalties, rent, and fees paid by the franchisees as well as the sales in its operated restaurants (Salva, 1995).
Mission and vision statement
Vision
To be the leading and best fast food company around the world summarized in initials Q.S.C.V meaning quality, service, cleanliness, and value. This has been the driving and guiding force behind the services it offers to customers. The food products have been cited to be of the best value in the food industry, which makes the customers happy (Hartel, 2012).
Mission
To be the best company for workers around the world in every community, the company delivers services that have superior systems of operation for its customers in each and every one of its branches. The company seeks to grow and progress in a favorable direction as a brand, yet keeping up with the operational systems through technology and innovation
Core activities and Value chain analysis
Inbound logistics
The company coordinates the supply of materials and food to outlets through approved third party operators of the logistics systems. The company engages in production in big plants exclusively to have a control of the packaging and distribution systems.
Operations
The company is keen on following specific guidelines in the preparation and sales of food products. The company employs a computerized system of tracking orders and uses technology that ensures efficiency in food and service production.
Outbound logistics
The company has integrated efficient crew who distribute and store goods from the warehouse in the needed time in the distribution centers in its logistics making it are efficient in inventory management. The firm believes in breaking down its long-term goals into manageable and measurable targets that are used as accomplishment benchmarks of milestones. The firm gives its franchises the autonomy in making marketing decisions (Hartel, 2012).
General administration
The firm applies strategic planning and management concepts to ensure that its competitive strategy of client service is main ...
This document discusses business strategies for strengthening food value chains and reducing poverty in developing countries. It outlines the opportunity for businesses to engage the "base of the pyramid" market of 3.7 billion people earning $8 or less per day, who spend $1.3 trillion annually on food. 70% of this population depends on the food value chain. The document presents innovative business models that companies are using to engage smallholder farmers and consumers, and empower entrepreneurs through improved access to markets, financing, and infrastructure. It provides design principles for successful models, including creating life-enhancing offerings and collaborating through non-traditional partnerships. Finally, it recommends actions like prioritizing initiatives and facilitating corporate engagement to scale up these approaches
This document provides a business plan for expanding Kitchen Creations, a kitchen appliance company currently operating in the US, into international markets over the next 12 months. The plan outlines Kitchen Creations' history and management team, its current product offerings and plans to introduce two blender models internationally. It also discusses strategies for marketing, implementation in phases, management of the expansion, forecasted sales and costs. The goal is for Kitchen Creations to share its high quality, lifetime warranty products with customers around the world.
An overview of Food Machinery and Chemicals Corporation (FMC)’s Managerial hi...Ayesha Majid
FMC Corporation is an American chemical manufacturing company headquartered in Philadelphia, Pennsylvania. As a global leader utilizing advanced technologies and customer-focused research and development, FMC provides innovative and cost-effective solutions to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as in non-agricultural markets for pest control.
This document provides an overview of integrated supply chain management (ISCM) and recommendations for its implementation. It defines ISCM as coordinating the flow of goods, information, and funds from suppliers to customers. The document recommends using the Supply Chain Operations Reference (SCOR) model to assess a company's supply chain, which breaks the supply chain into planning, sourcing, production, and delivery processes. It also outlines a three phase approach to implementing ISCM - concept, conversion, and execution phases - and the key activities involved in each phase, such as assessing opportunities, developing strategies and organizational structures, and translating strategies into actions.
Similar to COST ACC PRA-KALITY FOOD-QUES AND OBJECTIVESNDATA COLLECTION.pdf (18)
This document provides definitions for key terms used in the Federal Government of Ethiopia Financial Administration Proclamation No. 648/2009. It defines terms such as "aid in kind", "approval", "appropriation", "capital expenditure", "consolidated fund", "commitment", "disbursement", "expenditure", "government", "fiscal year" and others. The definitions clarify the meaning of these financial and administrative terms as they are used in the proclamation which provides for the financial administration of the Federal Government of Ethiopia.
Linear programming is a mathematical modeling technique useful for allocating scarce or limited resources to competing activities based on an optimality criterion. There are four key components of any linear programming model: decision variables, objective function, constraints, and non-negativity assumptions. Linear programming models make simplifying assumptions like certainty of parameters, additivity, linearity/proportionality, and divisibility of decision variables. The technique helps decision-makers use resources effectively and arrive at optimal solutions subject to constraints, but it has limitations if variables are not continuous or parameters uncertain.
This document discusses accounting for long-term liabilities and debt service funds in governmental entities. It defines general long-term liabilities as those arising from governmental fund activities that are not reported as fund liabilities. General long-term liabilities are reported as liabilities in the government-wide financial statements but not in the governmental fund statements. The document provides journal entries to record the issuance and repayment of various debt instruments like bonds and notes. It also discusses statutory debt limits, debt service funds, and required note disclosures for long-term debt.
This document summarizes the Code of Ethics for Professional Accountants published by the International Federation of Accountants (IFAC) in July 2009. It establishes ethical requirements for professional accountants in three parts: general application of the code, professional accountants in public practice, and professional accountants in business. The code is based on five fundamental principles of ethics - integrity, objectivity, professional competence and due care, confidentiality, and professional behavior. It provides a framework for identifying ethics threats and applying safeguards to address threats to comply with the fundamental principles.
The document discusses the scope and functions of public finance. It defines public finance as dealing with the income and expenditure of the government. The scope of public finance includes three branches of budget policy - allocation, distribution, and stabilization. It aims to secure adjustments in resource allocation, income distribution, and economic stabilization. The functions of modern government that require public financing are also outlined, such as security, justice, economic regulation, social welfare, resource conservation, administration, education, and public health.
The document contains a chapter review with multiple choice and exercise questions related to accounting for property, plant, and equipment. Some of the questions cover topics like depreciation methods, components of the cost of land, classification of expenditures, and journal entries to record asset disposals. The solutions provide the answers to each question in the review.
This document contains an exam for an advanced financial accounting course. It includes 3 questions assessing understanding of consolidation methods, business combinations, and accounting for investments. Question 1 has 6 parts related to applying consolidation methods to a sample business acquisition. Question 2 contains 5 multiple choice questions about consolidation standards. Question 3 has two parts: the first asks to calculate goodwill and prepare consolidation journal entries and balance sheet for a business purchase, and the second provides financial information for an investment and asks to prepare the relevant journal entries.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
COST ACC PRA-KALITY FOOD-QUES AND OBJECTIVESNDATA COLLECTION.pdf
1. ST. MARY’S UNIVERSTY
BUSINESS FACULTY
DEPARTMENT OF ACCOUNTING
AN ASSESMENT OF COST ACCOUNTING PRACTICE
CASE STUDY IN KALITY FOOD SHARE COMPANY
BY
GIRUM KETEMA
FERHAN MOHAMMED
HANA LELISA
JUNE, 2014
ADDIS ABABA
2. AN ASSESMENT OF COST ACCOUNTING PRACTICE
CASE STUDY IN KALITY FOOD SHARE COMPANY
BY
GIRUM KETEMA
FERHAN MOHAMMED
HANA LELISA
A SENIOR ESSAY SUBMITTED TO THE DEPARTMENT OF
ACCOUNTING IN PARTIAL FULLFILMENT OF THE
REQUIRMENTS FOR THE DEGREE OF BACHELOR OF ART IN
ACCOUNTING
JUNE, 2014
ADDIS ABABA
3. ST. MARY’S UNIVERSTY
AN ASSESMENT OF COST ACCOUNTING PRACTICE
CASE STUDY IN KALITY FOOD SHARE COMPANY
BY
GIRUM KETEMA
FERHAN MOHAMMED
HANA LELISA
BUSINESS FACULTY
ST. MARY’S UNIVERSITY
Approved By the Committee of Examiners
______________________ __________________
Department head signature
______________________ __________________
Advisor signature
______________________ __________________
Examiner signature
______________________ __________________
Examiner signature
4. ACKNOWLEDGEMENT
First of all, we would like to thank those how cooperated by giving their time for answer to our
interview and questions.
Next we would like to send our appreciation of our advisor INS.YESERASH ALEMU for
giving us a continuous guidance through the process of this paper. The paper would not have
been done this way without her help.
Finally our gratitude goes to cost accounting department of the company workers how gave us
the necessary information for fulfillment of our paper
a
5. LIST OF TABLES
Table 2.1: The difference between job order costing and process costing……………….13
Table 3.1: Presentation of the characteristics of the study participants…………………...18
Table 3.2.1: Respondents answer about the cost accounting department…………………20
Table 3.2.2: Respondents answer about the cost accounting department…………………22
Table 3.2.3: Issue related with store keeper and costing department………………………24
Table 3.2.4: Presentation of accounting system and production……………………………25
Table 3.2.5: Presentation of product costing system………………………………………..27
Table 3.2.6: Issue related with manufacturing overhead allocation…………………………31
Table 3.2.7: Presentation of byproduct, spoilage and process costing………………………34
Table 3.2.8: costing system effectiveness and convenience…………………………………36
b
6. ACRONYMS
KFSC = Kality Food Share Company
APOHR = Actual Product Overhead Rate
UC = Unit Cost
TC = Total Cost
PO = purchase order
c
7. TABLE OF CONTENTS
Acknowledgement………………………….………………………………………………………………………………………………….a
List of tables……………………………………..…………………………………………………………………………………………………b
Acronyms……………………………………….….………………………………………………………………………………………………..c
CHAPTER ONE……………………………….…………………………………………………………………………………………………….1
INTRODUCTION…………………….…………………………………………………………………………………………………………….1
1.1 Back ground of the study……………………………………………………………………………………………………………….1
1.2 Background of the organization..…………………………………………………………………………………………………..2
1.3 Statement of the problem …………..………………………………………………………………………………………………..3
1.4 Research question……..………………………………………………………………………………………………………………….3
1.5 Objective of the study…………………………………………………………………………………………………………………….4
1.5.1 General Objective………………………………………………………………………………………………………………….4
1.5.2 Specific Objective…………………………………………………………………………………………………………………..4
1.6 Significance of the study………………………………………………………………………………………………………………….4
1.7 Scoop of the study……………………………………………………………………………………………………………………………4
1.8 Limitation of the study……………………………………………………………………………………………………………………..5
1.9 Research design and methods………………………………………………………………………………………………………….5
1.9.1 Research design……………………………………………………………………………………………………………………..5
1.9.2 Source and type of data………………………………………………………………………………………………………….6
1.9.3 Population and sampling design……………………………………………………………………………………………..6
1.9.4 Data collection method……………………………………………………………………………………………………………6
1.9.5 Method of data analysis………………………………………………………………………………………………………….6
1.10 Organization of the study……………………………………………………………………………………………………………7
CHAPTOR TWO……………………………………………………………………………………………………………………………………….8
Review of related Literature…………………………………………………………………………………….…………………………….8
2.1 Definition of cost accounting…………………………………………………………………………………………………………8
2.2 Classification of costs………………………………………………………………………………………………………………………8
2.2.1 Cost in their relation to the production……………………………………………………………………………………..9
2.2.2 Cost in their relation to manufacturing department………………………………………………………………10
2.3 Use of cost information…………………………………………………………………………………………………………………10
2.3.1 Cost for planning and control………………………………………………………………………………………………..10
2.3.2 Cost for analytical purpose……………………………………………………………………………………………………11
2.4 Costing system…………………………………………………………………………………………………………………………….11
2.4.1 Job order costing system……………………………………………………………………………………………………….12
2.4.2 Process costing system………………………………………………………………………………………………………….12
2.5 purpose of product costing for the company………………………………………………………………………………..14
2.6 Roles, responsibility, duties and accountability of cost accountant………………………………………………15
2.7 Purchase procedure………………………………………………………………………………………………………………………15
8. CHAPTOR THREE……………………………………………………………………………………………………………………………………17
Data presentation, analysis, and interpretation……………………………………………………………………………………17
3.1 Analysis of the characteristics of the study participants………………………………………………………………..18
3.2 Analysis of the study findings…………………………………………………………………………………………………………20
3.2.1 Organization of costing staff department…………………………………………………………………………….20
3.2.2 Purchase of raw material and inventory management………………………………………………………..22
3.2.3 Accounting system and production………………………………………………………………………………………25
3.2.4 Manufacturing overhead allocation……………………………………………………………………………………..31
3.2.5 Byproduct costing, spoilage and process costing………………………………………………………………….34
3.2.6 Costing system effectiveness and convenience…………………………………………………………………..36
CHAPTOR FOUR…………………………………………………………………………………………………………………………………….38
Summary, conclusion, and recommendation ………………………………………………………………………………………38
4.1 Summary………………………………………………………………………..…………………………………………………………….38
4.2 Conclusion……………………………………………………………………………………………………………………………………40
4.3 Recommendation………………………………………………………………………………………………………………………...41
9. BIBLIOGRAPHY
Bryman, A. & Bell, E. (2011). Business research methods, Oxford University
Press, New York.
Cherrington, (1998). Cost Accounting A Managerial Approach (2nd Edition).
West publishing Company, New York
Fess Waren, (1999). Accounting Principles (18th edition), West publishing
Company, New York.
Frig mark. L,(1986). Cost accounting, Har Court Barece Jovanovich,
Publisher.
Horngren C.T. (2003). Cost accounting a Managerial Emphasis (11th Edition),
West publishing company, New York.
Horngren C.T, (1991). Cost accounting, a managerial emphasis (9th edition),
U.S.A, Person prentc hall.
Mahar, Michal (1997). Cost Accounting (5th edition), Chicago, Craw Hill.
Mosich A, (1989). Intermediate Accounting (6th edition). West publishing
Company, New York.
10.
11. St. Mary’s university
Page 1
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Cost accounting is an accounting system that provides financial and non
financial cost related information. Product costing is the cost of direct
labor, direct materials, and manufacturing overhead that are used to
create a product. And the purposes are for preparing financial statement,
setting price and for control purpose (Horngren C.T, 2003).Thus cost
accounting provides information for both management and financial
accounting.
Technological advancement and growing need of mankind has been the
prime cause for today’s dynamic business environment. So the need for
consistent recording in business enterprises arose (firgomark.L, 1986).
Cost accounting especially for manufacturing companies is the key factor
for achieving the desired profit since cost of raw materials is the major
expense.
For this reason we are attracted to study the topic to assessment of Cost
accounting practice in Kality Food Share Company.
12. St. Mary’s university
Page 2
1.2 BACKGROUND OF THE ORGANIZATION
Kallti Food Share Company was established in 1938. It is located at the
heart of Kality situated 17km from metropolitan Addis Ababa along the
artery motor ways stretched through the resort of Debrezeit. Currently
the factory runs seven production lines with annual production capacity
of 921, 625 Kilograms of different food products and the factory mange's
a total of 520 employee labor. The working forces are composed of
professionals and non professionals. The professionals are engineers,
mechanics, administrators, and accountants and so on ranging from first
degree to second degree. (Company’s policy and procedure manual)
It occupies a pioneering status signaling a breakthrough in the onset of
industrialization in Ethiopia. Over the last seven decade of its existence,
this giant industry had been consistently running a wealth of experience
industrial production and marketing mix of food products. The present
Kaliti food share company has grown into far reaching reputation. For
mounting quality test of its product among the consumer all over the
country. (Company’s policy and procedure manual)
The company purchase the raw materials form government agricultural
organization, private agricultural organization and other industries.
Kaliti food Share Company has five major departments and one service
namely; finance, commercial, production and technique, human resource
development and administration audit department and production, and
service quality improvement and assurance service. Four departments
and the services are directly responsible to the general manger as it can
be observed from the organizational structure audit department is
responsible to audit committee which turns responsible to the
privatization and public enterprise supervising agency. The general
manger is responsible to the board of directors which is responsible to
13. St. Mary’s university
Page 3
the privatization and public enterprise supervising agency. (Company’s
policy and procedure manual)
1.3 STATEMENT OF THE PROBLEM
As it is stated in the background section, product costing is the cost of
direct labor, direct materials, and manufacturing overhead that are used
to create a product. And the purposes are for preparing financial
statement, setting price and for control purpose. Even if product costing
has the above listed benefits for firms, the company under this study
(Kaliti Food Share Company) has a problem to entertain such benefits
from its costing department. The student research team had identified
the existence of this problem, during observation of the company, by
interviewing the company’s manager. The manager explained that the
company has a problem of price setting for its products because the
production cost of products is not properly and clearly determined.
Based on this information the research team had been initiated to asses
and examine the company’s costing system for the purpose of identifying
the causes of the company’s managerial problem and proposing the
possible solution of overcoming such causes.
1.4 Research questions
The student research team had raised and answered the following
specific researchable questions based on the possible causes of the main
research problem.
1. How is the company costing staff organized?
2. How is the company determining the production cost of its
products?
14. St. Mary’s university
Page 4
3. How is the company’s product costing system effective and
convenient?
1.5 OBJECTIVES OF THE STUDY
1.5.1 General Objective
The general objective of this study was assessing and examining the
product costing system of the company under study to identify the real
causes of why the main research problem is occurring and existing in the
company; and finding possible solution to overcome the identified real
causes.
1.5.2 Specific objectives
The student research team had planned some specific activities to be
performed to answer (find the solution ) of each specific questions to find
out the point where the real causes of the main problem are located as
specific objective of the study; and were started as follows:
1. To examine whether the company has well organized costing staff
or not?
2. To examine the company’s system of product cost determination?
3. To evaluate whether the company’s product costing system is
effective and convenient or not?
1.6 SIGNIFICANCE OF THE STUDY
Doing a research has its own reason or significance in which it
contributes for the improvement of resolving problems of the company.
This study would be significance to inform the corporation about its
15. St. Mary’s university
Page 5
strength and weakness on the existing system and the possible
suggestions may contribute to the company (Kaliti Food Share Company)
to manage its resources properly and correct its problems using the
outputs of this paper. It also helps the student research team to develop
research skills and, also the research paper can be used as base for
further research.
1.7 SCOPE OF THE STUDY
The study would cover as much as possible all cost accounting practice
which is focused on Kaliti food Share Company. This research paper is
specifically designed to assess the cost department of the company. This
Study would be delimited in the head office of the company, finance
administration department, purchasing department and cost accounting
department only.
1.8 LIMITATION OF THE STUDY
The limitations that could occur during the time of research study are:-
1. Time and financial constraint to go every day and collected the
data in detail.
2. The interviewees and our time may not be one and the same.
3. Some staff members might not be willing to give the required
information because of carelessness or personal reasons.
16. St. Mary’s university
Page 6
1.9 RESEARCH DESIGN AND METHODOLOGY
1.9.1 RESEARCH DESIGN
To solve the main research problem and answer the research questions
the student research team has used descriptive research design. The
team used descriptive design to describe the real facts in which are
collected about the characteristics of the company’s costing staff and the
company’s procedures of production cost determination.
1.9.2 TYPE OF DATA COLLECTION
The student research team had collected the needed data from both
primary and secondary sources. Primary data sources are: - the
production staff members, the finance staff members, store personnel’s,
and from cost accounting division. And the secondary data collected from
procedure manuals for purchasing, recording, production and reporting
activities and reports.
1.9.3 POPULATION AND SAMPLING TECHNIQUE
The study target population consist members of the company’s
production staff, material store staff, finance staff, purchasing staff, cost
accounting staff and the general manager in total 30 individuals in
number among this 5 taken from management group and the rest from
the staff group, who would be selected by using purposive sampling
technique.
17. St. Mary’s university
Page 7
1.9.4 METHODS OF DATA COLLECTION
The research team had collected the primary data by using the
questionnaire which was prepared by both open ended and close ended
questions. 30 copies of the questionnaires were distributed and 28 copies
returned with full responses. The team members had some primary data
through observation. Secondary data are observed from the company’s
procedural manuals and reports.
1.9.5 METHODE OF DATA ANALYSIS
The collected data are presented, analyzed and interpreted in chapter
three. The team has implemented descriptive method of analysis. The
team has classified the collected data in to different categories based on
the measurement scale used by each question of the questionnaire and
present in table form. The frequency and percentage distributions of the
respondents’ responses are identified, for each question; and such
tabulated data are analyzed and interpreted under each table.
1.10 ORGANIZATION OF THE STUDY
The paper was organized in to four chapters. The first chapter was
covered general background of the study, statement of the problem,
objectives of the study, significance of the study, delimitation, limitation,
and what method applied for the development of the study. While
chapter two would cover over view of related literatures. Chapter three is
going to show the practical aspect of the paper which is conducted in
Kaliti food Share Company so we are going to explain what the action
taken by the corporation to among and safeguard its cost accounting
system. Chapter four includes finding summary, conclusion, and
recommendation of the study regarding to product costing system.
18. St. Mary’s university
Page 8
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Definition of cost Accounting
Cost accounting is the process of accumulating the costs of
manufacturing, and other functional processes and identifying these
costs with units produced or some other object. It is a unique sub filed of
managerial and financial accounting. Cost accounting is applied
primarily to manufacturing. Organization that combine and process raw
material in to finished products (Cherrington, 1998).
Management accounting is the process of identification measurement,
accumulation, analysis, preparation, interpretation, and communication
of financial information used by managements of plane, evaluate, and
control within an organization to assure appropriate use of and
accountability for its resources (Cherrington, 1998).
Cost accounting provides information for management accounting and
financial accounting management accounting measures and reports
about financial and non financial information that helps managers make
decisions to fulfill the goal of the organization and financial accounting
focus on reporting to external parties. (Horngren, 2003)
Cost accounting provides mangers with relevant cost data to assist them
in operating the business effectively. The management process includes
developing an operating plan, implementing the plan, and evaluating the
result of operation (Cherrington, 1998).
2.2 Classification of costs
Classification are needed for development of cost data that are useful
management with regard to the following five purposes or aims these are
19. St. Mary’s university
Page 9
1. Planning profit by means of budget.
2. Controlling cost via responsibility accounting
3. Measuring annual or periodic profit including inventory costing
4. Assisting in establishing selling price and pricing policy
5. Furnishing relevant cost data for analytical processes for decision
making. There for cost is classified in to broad category and some of
them are listed below (Frigo, 1986).
2.2.1 Cost in their relation to the production.
The elements of manufacturing cost are direct material, direct labor and
factory overhead (indirect manufacturing). Direct material and direct
labor costs are combined in to another classification called primary cost,
and direct labor and factory over head can be combined in to a classified
called conversion cost. Representing the cost of converting direct
material in to finished products (Frigo, 1986).
Direct material are all materials that forms and integral part of finished
product and that can be included directly in calculating the cost of
product clued all to make automobile bodies. The case and feasibility
with which the material item can be traced to the final product are major
consideration in their designation as direct material. Give and facts to
build furniture from part of the finished product but for costing purposes
such item may be classified as in direct materials for manufacturing cost
(Frigo 1986).
Direct labor: is labor applied directly to the materials, comprising the
finished product. The cost of wedge paid to skilled or unskilled workers
and assignable to the particular unit produced is termed direct labor
(Frigo, 1986).
Factory over head: - Defined as the cost of indirect material, indirect
labor and all other manufacturing cost that can not conveniently by
charged to specific unit, job or products (Frigo, 1986) Indirect materials
20. St. Mary’s university
Page 10
are those needed for the competition of the product but whose
consumption with regard to the product is either so small or so complex
that is would be futile to treat them as direct material.
Indirect labor:- may be defined in contrast to direct labor as that labor
which does not directly affect the constitution or the composition of the
finished product. The term include the labor cost of supervisor shop
clerks, general helper cleaner and those employees engaged on
maintenance work or other service work. Not directly related to
production (Cherrington, 1998).
2.2.2 Cost in their relation to manufacturing department
Factory is generally organized along departmental lines for production
purpose .This factory department allegation is the basis for the important
classification and subsequent accumulation of cost by departments,
Products and service department.
Product department: - is one in which manual and machine operation is
performed directly upon any part of product manufactured, more
specifically, producing department are those whose cost may be charged
to the product because they have contributed directly to its production.
weather two or more different type of machine perform operation on
product with in the same department a break down into cost center
increase the accuracy of product cost (cherrington,1998).
Service department: - one that is not directly engaged in production but
tenders a particular type of service for the benefit of others department.
in some instance these service benefit of others service department as
well as producing department represents a part of the total factory over
head and must be observed the cost of the product by means of the
factory over head cost ( cherrington , 1996).
21. St. Mary’s university
Page 11
2.3 Use of cost information
2.3.1 Cost for planning and control
A company of information system provides the data required for the
preparation and operation of budget and for establishing standard costs.
Budget is a quantitative expression of a proposed plan of action by
management for a specific period and an aid to coordinating what need
to be done to implement that plan. A budget can cover both financial and
non financial aspects of the plan and serve a blue print for the company
to flow in an upcoming period. A budget that covers financial aspects
quantities management expectation regarding income, cash flow, and
financial position. Just as financial statements are prepared for past
period. So can financial statements be prepared for future period for
example a budgeted income statement, statement of cash flow and
budgeted balance sheet (Mahar and Michal, 1997).
Standard cost: - Closely allied with the budget are standard cost
which is predetermined cost for direct material, direct labor, and
factory over head. They are established by using information
accumulated from past experience and data secured form research
studies and it helps the management to form the foundation for the
budget (Frigo, 1986).
2.3.2. Cost for analytical purpose
Different type of involve varying kind of consideration in managerial
analysis for decision making for example different analysis for decision
making.
22. St. Mary’s university
Page 12
2.4 Costing system
The two basic types of costing systems are used to assign cost to product
or service. Which of them are as follow?
2.4.1 Job order costing system
In this system the cost object is a unit or multiple unit of a distinct
product or service called a job. Job order costing system is a type of cost
system that provides for a separate record of the cost of each particular
quantity of product that passes through the factory. Job order costing
system is commonly used by companies with product that are unique
and divisible. In this system costs are assigned to a distinct unit, batch
or lot of product, or service. Job is task for which resources expended in
bringing a distinct product or services to market (Cherington,1998).
2.4.2 Process costing system
In this costing system is used for manufacturing process which produce
a single product or single mix of products continuously for an extended
period of time. In this system the cost of a product or service is obtained
by using broad averages to assign cost to mass of similar unites
produced for general sale and not for any specific customers. Average
cost over large number of nearly identical product companies that use
process costing system are as follow (Mahar and Michal, 1998).
Cement factories
Petroleum refineries
Flour companies
Beer factories
Textile factories
Beverage companies
Characteristics of process costing system The products
manufactured are homogenous
The cost are accumulated in departments or cost centers
23. St. Mary’s university
Page 13
Each unit produced will receive the same amount of direct
material, direct labor, and MOH cost.
Average Unit cost is obtained by dividing total cost to unit
produced in a given department (cost center)
Costs are divided in to two based on when the costs are incurred
in to the production process.
Table 2.1 the difference between job order costing and process costing
JOB COSTING PROCESS COSTING
1 Types of product Diversified product line
in which products are
produced in batches
with each batch
representing a unique
product
Homogenous
products produced
continuously
2 Cost accumulation By job for a specified
number of unit
By department or
cost center for a
specified period of
time
3 Cost per unit costs accumulated by
job dividing when job is
complete
Cost accumulated by
cost center divided by
equivalent units of
production during a
period of time
4 Reporting By job By cost center or
department
(Cherington, 1998).
24. St. Mary’s university
Page 14
2.5. Roles, responsibility, duties and accountability of cost
accountant
Roles of Cost Accountant: A cost accountant plays an important role in
Kaliti food Share Company. He/she is responsible to provide the right
information about cost and budget at the right time to management to
help them for their decision making particularly for planning and
controlling.
Responsibilities of Cost Accountant:
- The cost accountant is responsible to build cost that is
the preparation of the master budget.
- He/she is required to revise the selling price.
- He is responsible to make annual inventory of finished
goods and fixed assets.
- Cost accountant is responsible for cost flow process
starting from procurement up to distribution.
- Cost accountant shows whether cost is properly classified
or not (Interview with the cost accountant).
Duties of cost accountant
Cost accountant has the duty to provide information whether
costs is placed for the required purpose or not.
Cost accountant has the duty to record and formalize
transactions in a formal manner and also preparing yearend
adjustments.
To follow up tax for payments
To prepare corporate budget of the company.
To compute manufacturing costs each year.
25. St. Mary’s university
Page 15
Accountabilities of cost accountant
Cost accountant is also responsible for exclusion as incursion of costs in
building up of costs at the proper amount, time and place. He is
accountable to provide proper information about the flow process.
Eg. What actually occurs and exists
Procurement production warehouse selling
(Company policy and procedure manual)
2.6. Purchase procedure
KFSC purchase department is usually engaged in purchasing a number
of materials and services falling in different categories. The activities are
performed regularly by purchase professionals with the objective of
fulfilling organization’s materials and services needs.
The purchasing department follows this procedure:-
Recognition and description of need
Transmission of need
Selection of Source to satisfy the need
Contracting with the accepted source
Following up with the source
Receiving and inspecting material
Payment and closure of the case
(Company policy and procedure manual)
26. St. Mary’s university
Page 16
CHAPTER THREE
DATA PRESENTATION, ANALYSIS AND INTERPRETATION
Introduction
This chapter consists of the findings of the study. To get firsthand
information, questionnaire and observation were the data collection
instruments used. To this end, a total of 30 copies of questionnaire were
distributed to employees who are in charge of cost accounting. In
addition out of the planned 3 manager’s interviewee and presented their
responses with secondary data gathered from the records and manuals
of Kaliti Food Share Company.
The result of the questionnaire is presented, analyzed and interpreted
with the help of table in percentage technique.
Purposive sampling technique was used to select the respondents and
accordingly existing employees are drawn from different department,
Finance, Central warehouse, Purchase, Production, and cost accounting
division.
Therefore, the first table focuses on the introductory questions like
department, gender, age, educational background and work experience.
The rest tables focus on the different issues that means based on the
different questionnaires.
27. St. Mary’s university
Page 17
3.1 Analysis of the characteristics of the study participants
Table 3.1.1: presentation of the characteristics of the study
participants
No Background of respondents No. of respondents Percentage
1 Department
Finance 2 7
Central warehouse 3 10
Purchase 3 10
Production 4 13
Cost accounting division 18 60
Total 30 100
2 Gender
Male 21 70
Female 9 30
Total 30 100
3. Age
Below 30 6 20
30-50 18 60
Above 50 6 20
Total 30 100
4. Education level
Under grade 12 - -
Diploma level 18 60
Degree level 9 30
Above degree 3 10
Total 30 100
5 Work experience
1-10 years 6 20
10-20 years 18 60
Above 20 years 6 20
Total 30 100
The above table illustrates number and percentage of the characteristics
respondents’ response on department, gender, age, education level, and
work experience. Response on department shows 60% of the respondents
28. St. Mary’s university
Page 18
are in the cost accounting division the rest 40% are distributed in the
other departments which is 7% finance, 10% from central warehouse,
10% from purchase department, and the rest 13% from the production
department. Sex ratio prevail in the final study of 30 respondents show
that 21(70%) of male respondents and 9(30%) of female respondents as
indicate in the above table. Response on age show that 20% of the
sample employees below 30, 60% is between 30-50 age intervals, and the
rest 20% above 50 ages. From the sample employee above 60% are
diploma holders, 30% are at degree level, and the rest 10% are above
degree level. According to the above table employees work experience
show that 20% of the sample employees are 1-10 years, from 10-20 years
60%, and the rest are above 20 years which is 20% of the sample
employees.
3.2 Analysis of the study findings
To solve the main research problem and answer the research questions
the student research team has used descriptive research design. The
team used descriptive design to describe the real facts in which are
collected about the characteristics of the company’s costing staff and the
company’s procedures of production cost determination.
The team has classified the collected data in to different categories based
on the measurement scale used by each question of the questionnaire
and present in table form. The frequency and percentage distributions of
the respondents’ responses are identified, for each question; and such
tabulated data are analyzed and interpreted under each table.
29. St. Mary’s university
Page 19
3.2.1 Organization of costing staff department
Table 3.2.1 Strength and weakness of costing staff
No
Questions
Types of
response
No of
respon
dents
Percen
tage
1. Does the company have a separate cost
accounting department?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
2. If your answer is yes for question one does it
has adequate staff members and are they
efficient?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
3. Are the cost accounting staff members
professionally qualified in accounting?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. Do you think this staff is discharging its
responsibility?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
5. If your answer is no for question1; is there
other party who records cost data?
Yes 21 70
No 9 30
I don’t
know
- -
Total 30 100
6. Do you think this responsible party can discharge its
responsibility properly?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
30. St. Mary’s university
Page 20
Based on the respondents on the above table we can understand that
the companies have a separate cost accounting department with
adequate staff members which are fairly efficient in their work which
is confirmed by 100% of the respondents answer. We are observed
that in our study KFSC have a separate cost accounting department
with dependent duties which are:-
Cost accountant has the duty to provide information whether
costs is placed for the required purpose or not.
Cost accountant has the duty to record and formalize
transactions in a formal manner and also preparing yearend
adjustments.
To follow up tax for payments
To prepare corporate budget of the company.
To compute manufacturing costs each year.
From response we get 60% of the respondents agreed on the fact that
the accounting staff members are professionally qualified in cost
accounting. Costing staff members have sufficient knowledge and skill
i.e he/she is responsible to provide the right information about cost
and budget at the right time for management to help them for their
decision making practically for planning and controlling. Cost
accountant has the duty to provide information whether costs is
placed for the required purpose or not; to follow up tax for payments;
prepare corporate budget of the company and many other
responsibilities.
60% of the respondents believe that the employees satisfy
responsibilities and skills heeded for the costing department. The
respondents also answered that the costing department have
adequate staff members which are efficient discharging their
responsibility properly. The rest 40% of the respondents answered
that they have no information on the subject matter.
31. St. Mary’s university
Page 21
3.2.2 Purchase of raw material and Inventory management
Table 3.2.2: Respondents answer in connection with purchase of raw
material and inventory management
No
Questions
Types of
response
No of
respon
dents
Percen
tage
1. Does the firm purchase raw materials for
stock?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
2. Does the firm use just in time inventory
management?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
3. Does the company have proper purchasing
procedures?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. If your answer is yes for question 3 does it
follow properly?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
5. Do you think this staff is discharging its
responsibility?
Yes 15 50
No 15 50
I don’t
know
- -
Total 30 100
6. If you said yes for question 6 does it submit the
receiving report to submit to the costing
department for record?
Yes 15 50
No 15 50
I don’t
know
- -
Total 30 100
32. St. Mary’s university
Page 22
From the answers collected about the purchase of raw materials and
inventory management 100% of the respondents confirm that the
company purchase raw materials for stock. KFSC purchase department
is usually engaged in purchasing a number of materials and services
falling in different categories. The activities are performed regularly by
purchase professionals with the objective of fulfilling organization’s
materials and service’s needs.
70% of the respondents agree on the point that the company use just in
time inventory management. The rest of the respondent’s i.e 30% does
not have information about the company’s inventory management
system. KFSC conducted physical inventory once a year. In addition it is
clear to see from the respondents answer who participated in physical
inventory has observed:
During physical count some custodians were not willing to
show all the properties under their control due to lack of
knowledge or understanding the purpose of physical inventory.
During physical count from year to year some disposed asset
are counted
Responses on missing number of assets show the existence of
assets without identification number.
The company has proper purchasing procedures and 60% of the
respondents confirm on this fact and it is followed by proper method. The
purchasing department also provides accurate supplier costs and
accurate transportation costs. None of the respondents have information
if purchasing department submits the proper documents to the cost
accounting department for record of the time of delivery.
33. St. Mary’s university
Page 23
According to the responses collected from the staff 50% of the
respondents agree on the point that the purchasing management staff is
discharging their responsibilities; like receiving report to submit to the
costing department for record. In KFSC usually checked against a
purchase order (PO) before payment. As we observed they also provides
vital information to the product costing effort. For example: input
transaction data in a timely and accurate manner and identify any
discrepancies in the bills of material and routing. The rest 50% of the
respondents disagree on the point that the purchasing management staff
is discharging their responsibility.
.
Table 3.2.3: Issue related with store keeper and costing department
No
Questions
Types of
response
No of
respon
se
Percen
tage
1. Does the store keeper send and copy material
receiving voucher to the costing department on
time?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
2. Does the costing department record the
purchaser transaction immediately when it gets
the proper source documents?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
Based on respondents on the above table we can understand that 100%
of the respondents agree on the fact that the storekeeper send and copy
material receiving voucher to the costing department on time. In KFSC
Storekeeper is responsible for safeguarding the materials and supplies in
proper place until they are required for production activities. The
storekeeper have responsibilities such as maintaining the proper record
34. St. Mary’s university
Page 24
of materials relating to the receipt and issue of materials; Arranging for
physical verification of store items periodically; Supplying information of
materials, stock position and so on whenever needed; Checking the
physical quantity of materials and verify with a bin card; and Preventing
unauthorized entrance into the store room.
The respondents which are 70% point that the costing department
records the purchaser transaction immediately when it gets the proper
source document. The rest 30% of the respondents doesn’t have
sufficient information on the subject matter.
35. St. Mary’s university
Page 25
3.2.3 Product costing system
Table 3.2.4: presentation of accounting system and production
No
Questions
Types of
response
No of
respon
dents
Percen
tage
1. Does the firm use double entry accounting
system?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
2. Does the firm use accrual basis of accounting? Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
3. Does the company produce distinct products
for a time basis?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. If you said yes for question 3 does it record
their production cost separately on a cost
sheet?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
5. If your answer is no for question 3, does it
produce massive similar units of products for a
long period of time?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
For the question presented on presentation of accounting system and
production the company uses double entry accounting system and 70%
of the respondents confirm this and the rest 30% did not have
36. St. Mary’s university
Page 26
information about the question. KFSC use double entry accounting
system. Double entry accounting is based on the fact that every financial
transaction has equal and opposite effects in at least two different
accounts. It is used to satisfy the equation Assets = Liabilities + Equity,
whereby each entry is recorded so as to maintain the relationship. In the
double entry system, transactions are recorded in terms of debits and
credits. Since a debit in one account will be offset by a credit in another
account, the sum of all debits must therefore be exactly equal to the sum
of all credits.
70% of the respondents approve that the firm uses accrual basis of
accounting which provides a better view of the company’s current result
and the future earning potential of the company. KFSC produces distinct
product for a time basis with recording their production cost separately
on a cost sheet and 70% of the staffs agree with the point. 60% of the
respondents stated that it produces massive similar units of products for
a long period of time.
37. St. Mary’s university
Page 27
Table 3.2.5: presentation of product costing system
No
Questions
Types of
response
No of
respon
dent
Percen
tage
1. Does it have more than one product? Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
2. If your answer is yes for question 1, are they
preceded jointly to their splitting point?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
3. Are the production costs accumulated in
department basis?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. Does the production department use material
requisition form to receive raw materials from
the store?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
5. Does the production department have material
specification?
Yes 15 50
No 15 50
I don’t
know
- -
Total 30 100
6. If you answered question 5 yes does it request
material based on such specification?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
7. Does the production department return back to
store and inform the costing department when
it has excess raw materials?
Yes 15 50
No - -
I don’t
know
15 50
Total 30 100
38. St. Mary’s university
Page 28
The firm produces more than one product which is following in more
than one processing unit which is preceded jointly to their splitting point.
70% of the respondents have confirmed these stages of production and
the rest 30% of the respondents did not have enough information about
the question. KFSC attempts to achieve the primary objective of
satisfying the society demand by producing a Varity of products. The
main products of this company are varies grades of wheat flour, bread,
sweet biscuits, high energy biscuits, varied types of spaghetti (long
pasta), varied types of macaroni, and positing, on the other hand the
company also supplies industrial by products derived from wheat flour in
the form of animal feeds.
The respondents which are 60% stated that the production cost is
accumulated in department basis. Kalti food Share Company designed
its cost centers in three main departments based on the function and
operation of the machineries, the type of products. The activities of the
department engaged in products identified based on these cost structure
and pricing derivate after accumulating the prime cost under each cost
centers.
These production cost centers are wheat flour line department, spaghetti
(long pasta) line department and various types of Macaroni line
departments. This product costing systems of the factory employee
several manufacturing accounts. As production take place, all
manufacturing costs are added to the work in process inventory. As soon
as products are completed their product costs are transferred from work
in process inventory to finished goods inventory during the time period
when products are sold.
The product cost of inventory sold is removed from finished goods and
added to cost of goods sold which is an expense of the period in which
39. St. Mary’s university
Page 29
the sale occurred. Cost of goods sold is closed in to the income summary
account at the end of the accounting period. In process costing, labor,
material and overhead costs offer are incurred at different rates in
production process. Direct material is usually placed in to production at
one or more discrete points in the process. In contrast, direct labor and
manufacturing overhead, called conversion costs, and usually are
incurred continuously throughout the process when an accounting
period ends, the partially completed with respect to material and
conversion activity. And the rest 40% disagree.
70% of the respondents point that the production department use
material requisition form to receive raw materials from the store. Half of
the respondents (50%) agreed that the production department have
material specification while the other half does not agree on the subject
matter. The company uses process costing for products that are
produced in mass production of the like units which usually pass in
continuous flow through a series of uniform production stage called
process or operations. The basic approach to this costing system is to
accumulate costs in a particular operation or processing department for
the entire and then divided the total accumulated cost by the total
number of units completed during the period to determine the unit cost
of the product.
Based on the answer collected from the staff 50% said that the firm
requests material based specification. Half of the respondents point
production department return back to store and inform the costing
department when it has excess raw materials. On this subject the rest
50% does not have adequate information.
40. St. Mary’s university
Page 30
Purpose of product costing for the company
Kaliti food Share Company use product costing for three purposes.
According to the respondents costing has three purposes mainly at Kaliti
food Share Company. Each of them is listed below.
1. For financial statement: reporting papoose Kaliti food share
company product costing is also used for purpose financial
statements. Its importance is to prepare a schedule of cost of goods
manufactured a schedule of cost of goods sold, and an income
statement.
2. For setting price purpose: Pricing a product is one of the
important ingredients in profitability decision and major
determinant for the factory to share the market. The pricing
approach adapted by Kalliti food Share Company is cost plus
pricing approach. The reason to choose cost for product pricing
are:-
- Because of practical simplicity: there is not sufficient time to
price a product through demand and marginal cost analysis
and so the manger of this factory must rely on a quick and
straight forward method for selling price. As a good starting
point, product cost gives the factory’s manger the place to
start product pricing.
- To maintain the margin in order not to price product below
their cost and then by minimizing the degree of loss.
3. For control purpose: The cost estimate embodies the standard
against which actual costs incurred during production can be measured.
The data can be used to correct adverse situations.
41. St. Mary’s university
Page 31
3.2.4 Manufacturing overhead allocation
Table 3.2.6: issue related with manufacturing overhead allocation
No
Questions
Types of
response
No of
respon
se
Percen
tage
1. Do you think the firm use proper predetermine
rate for allocating manufacturing overhead
costs?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
2. Does the firm have a proper time keeping
mechanism to identify the labor hour
consumption?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
3. Does the cost allocating department use more
than one pool for accumulating indirect costs?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. If yes, for question 3, does it properly allocate
all of them to the cost object?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
5. Does the accounting department prepare
interim production reports to management?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
based on the respondents about issues related with manufacturing over
head allocation on the above table 100% of the respondents agreed that
42. St. Mary’s university
Page 32
the firm uses proper predetermined rate for allocating manufacturing
costs; and also that the firm have proper time keeping mechanism to
identify the labor hour consumption. KFSC have two types of overhead,
which are administrative overhead and manufacturing overhead.
Administrative overhead includes those costs not involved in the
development or production of goods or services, such as the costs of front
office administration and sales; this is essentially all overhead that is not
included in manufacturing overhead. Manufacturing overhead is all of
the costs that a factory incurs, other than direct costs.
60% of the respondents stated that the cost allocating department uses
more than one pool for accumulating indirect costs i.e costs that are
related to the cost object but that cannot be traced to it an economically
feasible way incurred in the practices of manufacturing a product and
are not charged as direct material or direct labor costs as particular cost
centers. Such costs like indirect labor cost, indirect materials cost,
depreciation, electricity and water, repair and maintenance, fuel,
stationary, insurance and others.
The factory also use actual over head rate which is the rate at which
overhead cost are actually incurred during an accounting period. Cost
allocation base that should be used when allocating the indirect cost
pools.
APOHR= AOH Cost for the accounting period where: Actual product
Actual amount of the cost driver APOHR= overhead
The typical procedure for allocating overhead is to accumulate all
manufacturing overhead costs into one or more cost pools, and to then
43. St. Mary’s university
Page 33
use an activity measure to apportion the overhead costs in the cost pools
to inventory. Thus, the overhead allocation formula is:
Cost pool / Total activity measure = Overhead allocation per unit
They also allocate overhead costs by any reasonable measure, as long as
it is consistently applied across reporting periods. Common bases of
allocation are direct labor hours charged against a product, or the
amount of machine hours used during the production of a product.
The respondents also point that the firm allocates all of the indirect costs
to the cost object properly. But the rest 40% does not agree on the above
fact.
44. St. Mary’s university
Page 34
3.2.5 by product costing, spoilage and process costing
Table 3.2.7: presentation of byproduct, spoilage, and process costing
No
Questions
Types of
response
No of
respon
se
Percen
tage
1. Does the firm have supervisors for product
quality inspection?
Yes 21 70
No - -
I don’t
know
9 -30
Total 30 100
2. Does the firm production department produces
spoiled outputs?
Yes 30 100
No - -
I don’t
know
- -
Total 30 100
3. Does the firm have by products? Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. If your answer is yes for question 3, do you
think the value of by products are treated well
through allocating?
Yes 21 70
No - -
I don’t
know
9 30
Total 30 100
5. If your answer is yes for question 2, do you
think that the production cost of good products
consider the cost of spoilage?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
As seen in the above table about presentation of byproduct 70% of the
respondents have stated that the company has supervisors for product
quality inspection and the rest 30% does not have enough information
about the production quality inspection.
45. St. Mary’s university
Page 35
All of the respondents confirm that the production department produces
spoiled outputs and also on the fact that the firm have byproducts.
The respondents which is 70% point that the value of byproducts are
treated well through allocating while the other 30% of the respondents
does not have information about the byproducts allocation. The factory
supplies industrial By Products derived from wheat flour in the form of
animal feeds. The cost of By Product accounting methods is normally
used. As we observed the production method recognized the By Product
at the time of production. The sales method delays recognition of By
Product until the time of sale.
We have observed 60% of the respondents agreed that the production
cost of goods product consider the cost of spoilage. In product costing,
the cost of direct materials includes cost of scrape, waste and normally
anticipated spoilage that occur in ordinary course of production process.
Unanticipated or abnormal amount of scrape, west and spoilage should
be expressed in the period incurred or, in some situation, may be
included in the factory overhead. Then the company use directly this
type of costing system for the treatment of allocation of the cost. The rest
40% of the respondents challenge the above fact.
In cost accounting, process costing assumes that all units produced are
identical. When spoilage creates costs in a process-costing environment,
the company applies the following methods to account for them.
Cost accounting for abnormal spoilage
Accountants post the cost of abnormal spoilage to a “loss for abnormal
spoilage” account. The loss isn’t related to cost of goods manufactured.
Instead, abnormal spoilage is a separate cost that you can’t recover.
46. St. Mary’s university
Page 36
As a result, abnormal spoilage isn’t included as a product cost. So they
break it out first. The company accountant will put the cost in a loss
account separate from costs of manufacturing.
Cost accounting for normal spoilage
Costing normal spoilage takes a little math. The company adds spoilage
costs to cost of goods manufactured. Now consider how costs are
assigned using process costing.
As units move from one production department to another, the costs
move along with them. Process costing uses equivalent units to account
for units that are partially complete. The percentage of completion for
material cost might be different from conversion costs, and vice versa.
Equivalent units even things out. The goal is for each equivalent unit to
have the same amount of costs attached to it.
47. St. Mary’s university
Page 37
. 3.2.6 Costing system effectiveness and convenience
Table 3.2.8: presentation of costing system effectiveness and convenience
No
Questions
Types of
response
No of
respon
se
Percen
tage
1. Do you think the company’s current costing
system is proper according to its setting?
Yes 21 70
No 9 40
I don’t
know
- -
Total 30 100
2. Do you thing the costing department is properly
discharging its responsibility?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
3. Do you think the current costing system
enables the department to assign fair
production cost to products?
Yes 18 60
No 12 40
I don’t
know
- -
Total 30 100
4. If your answer is yes for question 3 does it
follow properly?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
5. Is the current costing system convenient for
cost effective production cost assignment?
Yes 18 60
No - -
I don’t
know
12 40
Total 30 100
Based on the respondents on the above table we can understand that
70% of them agreed that the company’s current costing system is proper
according to its setting and the rest 30% disagree that the firm does not
48. St. Mary’s university
Page 38
have proper costing system. Kaliti food Share Company prepares cost of
goods manufacturing statements monthly, then the total amount for the
year is added for the preparation of financial statements i.e. income
statements. It is this measurement that shows profitability of the
company. Therefore, the need for reduced production costs is given great
attention in attaining the organizational objectives.
The respondents which is 60% stated that the costing department is
properly discharging its responsibility and also the current costing
system enables the department to assign fair production cost to products
and convenient for cost effective production cost assignment while the
rest 40% disagree on the above point. Mangers expect the cost data as
much useful as required so that various usable economic decisions can
be drawn from it. As a result the cost accountant has the highest
responsibility of presenting the cost data in a way that makes decision
makers understand easily, interpret and make decision based on it.
Selling prices of manufactured goods in Kaliti food Share Company are
set based on two important factors. The production cost of which is
directly related to input price. As cost of production increase selling price
accordingly will increase to retain the profit margin at its original
amount. The other is the demand factor.
49. St. Mary’s university
Page 39
CHAPTER FOUR
SUMMARY, CONCLUSION AND RECOMMENDATION
4.1 Summary
As it is stated in the background section, product costing is the cost of
direct labor, direct material, and manufacturing overhead that are used
to create a product. And the purposes are for preparing financial
statement, setting price, and for control purpose. Even if product costing
has the above listed benefits for firms the company has a problem of
price setting for its products because the production cost of products is
not properly and clearly determined. The objective of this study was
assessing the product costing system of the company. To solve the main
research problem the student research team has used descriptive
research design and primary and secondary data sources are used.
From Kality Food Share company cost accounting manual and from the
respondents answer we have observed the following:-
Kality food Share Company has no updated manual.
The company uses cost accounting for their product pricing purpose
and for preparation of their financial statements.
It uses cost plus pricing approach to price their product by
computing the material cost.
The preparation of financial statement also used to know its net
income and net loss.
The current costing practice of product costing used for preparing
financial statement, for setting price purpose and for control
purpose.
The company uses both process costing and job order costing
system.
Costing system for products that are produced in mass production
which usually pass in continuous fashion is process costing system.
50. St. Mary’s university
Page 40
These costing systems accumulate costs in a particular costing
center.
The company use job order costing system for some of its products
that are manufactured in identical lots of groups or that are
produced according to customer order specifications. In job order,
cost is accumulated in which it occurred.
KFSC purchase raw material from different suppliers who sell their
materials at different price.
Most of the productive department employees found at lower position
is not qualified as their position require, even though they acquired
the position by long experience.
4.2 Conclusions
Based on the data presentation, analysis and interpretation of the
previous chapter, the following conclusions are forwarded.
Kality food Share Company is vast organization that spends huge
amount of budget on cost.
KFSC producing a variety of products to satisfying the society
demand.
KFSC have a separate cost accounting department with adequate
staff members which are fairly efficient.
KFSC use proper controlling mechanism for handling and keeping
of cost related transactions.
The current product costing system, cost center allocation, and
cost allocation base are found at good level with the existence of
some problem.
At the time of production KFSC recognize byproducts which are
derived from wheat floor in the form of animal feed.
51. St. Mary’s university
Page 41
KFSC have a problem of price differentiation for the same product
these is due to purchase of raw material from different supplier.
We are positively looking KFSC have to take proper action on the
point we describe in our finding the company has to plan in order
to reduce poor productivity of labor.
We have tried to reconcile the theoretical and practical
accomplishment on the practice of cost accounting in the analysis
part of our study and we have given our conclusion on the findings
of the company cost accounting practice that have to be more of as
corrected.
4.3 Recommendation
As concluding remark, we would like to forward some recommendations
on the Kaliti food share company product costing practices.
Buying raw materials from one reliable supplier to eliminate the
different cost of products. Rather than buying supplies from
different supplier.
KFSC attract highly qualified professionals for its supportive
departments with good pay and employee benefit in order to
improve their poor labor productivity.
KFSC purchasing department must follow the company
purchasing procedure in order to make input transaction data in
timely and accurate manner.
In order to implement product costing efficiently and effectively
and run KFSC business by controlling costs and increase its profit
timely, modern costing method has to be implemented.
As much as possible teach the organization employee about
product costing and its purpose.
52. St. Mary’s university
Page 42
Delegation of authorities with accountability should be directed
down to each level of organization units as well as to each
individual who possess KFSC property.
53. ST.MARY’S UNIVERSITY
Department of Accounting
Questionnaire
On cost accounting practice
Dear respondent,
The aim of this study is for the partial fulfillment of degree program in St.mary,s University.
The issue of questionnaire is to obtain your perceptions, opinion and views on cost accounting
practice in your corporation. It forms major parts of the project and the information you give will
enable us to establish a clear picture of cost accounting in certain organization. Your cooperation
to respond is very important to this research survey because it represents hundreds of others who
are not included in our sample. Please answer every question. Space is provided at some parts of
the section for you to add.
Further we would like to stress that all information you provide will be treated in strictest
confidence.
We thank you very much for your cooperation.
RESEARCH QUESTION TO DEPARTMENTS OF KALITY FOOD SHARE COMPANY
ON COST ACCOUNTING.
Guideline:- Please read each question and put (√) mark of your response on the box provided.
No need of writing your name
Department
□Finance □Purchases □Production □Cost accounting divition
a
54. □Other Specify ________________________________________
Gender
□Male □Female
Age
□ Below 25 □26-30 □ 31-40 □ 40-50 □ above 50
Educational Background Work Experience
□ 10th
complete □1-8
□Certificate □9-15
□Diploma Holder □16-20
□BA Holder □20-25
□Other Specify _________________________ □above 25
A. Question about the cost accounting department
artme
1. Does the company have a separate cost accounting department?
□yes □No □I don’t know
2. If your answer is yes for question one does it has adequate staff members?
□yes □No □I don’t know
3. If the department has adequate staff members in number, are they efficient?
□yes □No □I don’t know
4. Are the cost accounting staff members professionally qualified in accounting?
□yes □No □I don’t know
5. Do you think such employees have sufficient knowledge and skill for their job responsibility?
b
55. □yes □No □I don’t know
6. Do you think this staff is discharging its responsibility?
□yes □No □I don’t know
7. If your answer is no for question1; is there other party who records cost data?
□yes □No □I don’t know
8. Do you think this responsible party can discharge its responsibility properly?
□yes □No □I don’t know
B. Question about product costing system
1 Does the firm purchase raw materials for stock?
□yes □No □I don’t know
2 Does the firm use just in time inventory management?
□yes □No □I don’t know
3 Does the company have proper purchasing procedures?
□yes □No □I don’t know
4 If your answer is yes for question 3 does it follow properly?
□yes □No □I don’t know
5 Does the purchasing department submit the proper documents to the cost accounting
department for record at the time of delivery?
□yes □No □I don’t know
6 Does the company have receiving committee?
□yes □No □I don’t know
7 If you said yes for question 6 does it submit the receiving report to submit to the costing
department for record?
□yes □No □I don’t know
8 Does the store keeper send and copy material receiving voucher to the costing department on
time?
□yes □No □I don’t know
9 Does the costing department record the purchaser transaction immediately when it gets the
proper source documents?
□yes □No □I don’t know c
56. 10 Does the firm use double entry accounting system?
□yes □No □I don’t know
11 Does the firm use accrual basis of accounting?
□yes □No □I don’t know
12 Does the company produce distinct products for a time basis?
□yes □No □I don’t know
13 If you said yes for question 12 does it record their production cost separately on a cost sheet?
□yes □No □I don’t know
14 If your answer is no for question 12, does it produce massive similar units of products for a long
period of time?
□yes □No □I don’t know
15 Does it have more than one product?
□yes □No □I don’t know
16 If your answer is yes for question 15, are they following in more than one processing unit?
□yes □No □I don’t know
17 If your answer is yes for question 16, are they preceded jointly to their splitting point?
□yes □No □I don’t know
18 If your answer is no for question 16, are they proceeded separately?
□yes □No □I don’t know
19 Are the production costs accumulated in department basis?
□yes □No □I don’t know
20 Does the production department use material requisition form to receive raw materials from
the store?
□yes □No □I don’t know
21 Does the production department have material specification?
□yes □No □I don’t know
22 If you answered question 21 yes does it request material based on such specification?
□yes □No □I don’t know
23 Does the production department return back to store and inform the costing department when
it has excess raw materials?
□yes □No □I don’t know d
57. 24 Do you think the firm use proper predetermine rate for allocating manufacturing overhead
costs?
□yes □No □I don’t know
25 Does the firm have a proper time keeping mechanism to identify the labor hour consumption?
□yes □No □I don’t know
26 Does the cost allocating department use more than one pool for accumulating indirect costs?
□yes □No □I don’t know
27 If yes, for question 26, does it properly allocate all of them to the cost object?
□yes □No □I don’t know
28 Does the accounting department prepare interim production reports to management?
□yes □No □I don’t know
29 Does the firm have supervisors for product quality inspection?
□yes □No □I don’t know
30 Does the firm production department produces spoiled outputs?
□yes □No □I don’t know
31 Does the firm have by products?
□yes □No □I don’t know
32 If your answer is yes for question 31, do you think the value of by products are treated well
through allocating?
□yes □No □I don’t know
33 If your answer is yes for question 32, do you think that the production cost of good products
consider the cost of spoilage?
□yes □No □I don’t know
C. Question related with costing system effectiveness and convenience
1. Do you think the company’s current costing system is proper according to its setting?
□yes □No □I don’t know
2. Do you thing the costing department is properly discharging its responsibility?
□yes □No □I don’t know
3. Do you think the current costing system enables the department to assign fair production
cost to products? e
58. □yes □No □I don’t know
4. If your answer is yes for question 3 does it follow properly?
□yes □No □I don’t know
5. Is the current costing system convenient for cost effective production cost assignment?
□yes □No □I don’t know
6. What is your opinion about the effectiveness of the current costing system?
………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
…………………………………………
7. What is your comment for improving the current system of product cost determination?
………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
………………………………………..
f
59. DECLARATION
Advisee’s Declaration
We, the underlined, declare that this senior essay is our original work,
prepared under the guidance of Ins. Yeserash. All resource of materials used
for the manuscript have been duly acknowledged.
Name: ________________________ Signature: ________________________
Name: ________________________ Signature: ________________________
Name: ________________________ Signature: ________________________
Place of submission: ________________________
Date of submission: ________________________
Advisor’s Declaration
The paper has been submitted for examination with my approval as the
university Advisor.
Name: ________________________
Signature: ________________________
Date: ________________________