This document discusses product costing systems, including job costing and process costing. It explains that job costing is used for unique, special orders where each job's profitability can be measured. Process costing is used for mass production of homogeneous items, where costs are accumulated by department. The key difference is that job costing tracks costs by individual job, while process costing tracks by production department. Examples of each system and types of product flows in process costing are provided.
THE MAIN DIFFERENCE BETWEEN JOB COSTING AND PROCESS COSTING IS THAT IN JOB CO...Hardik Shah
THE MAIN DIFFERENCE BETWEEN JOB COSTING AND PROCESS COSTING IS THAT IN JOB COSTING AN AVERAGING PROCESS IS USED TO COMPUTE THE UNIT COSTS OF PRODUCTS OR SERVICES. - JUSTIFICATION
This power point presentation related to process costing. which is useful to students who studying B.com, BBA,M.COM MBA etc.
It involves short notes on definition of process costing,its features,applications,difference between process costing and job costing, advantages and disadvantageous of process costing, procedure of process costing,format of process account, process losses and abnormal gain.
Process costing explained with examples free of cost .It is for students of managerial accounting ,read this to quickly go through process costing.
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Twitter @scholarshipskys
THE MAIN DIFFERENCE BETWEEN JOB COSTING AND PROCESS COSTING IS THAT IN JOB CO...Hardik Shah
THE MAIN DIFFERENCE BETWEEN JOB COSTING AND PROCESS COSTING IS THAT IN JOB COSTING AN AVERAGING PROCESS IS USED TO COMPUTE THE UNIT COSTS OF PRODUCTS OR SERVICES. - JUSTIFICATION
This power point presentation related to process costing. which is useful to students who studying B.com, BBA,M.COM MBA etc.
It involves short notes on definition of process costing,its features,applications,difference between process costing and job costing, advantages and disadvantageous of process costing, procedure of process costing,format of process account, process losses and abnormal gain.
Process costing explained with examples free of cost .It is for students of managerial accounting ,read this to quickly go through process costing.
http://www.brightscholarships.com
Twitter @scholarshipskys
Cost Volume Profit (CVP).
Introduction
Fixed costs
Variable costs
Semi variable costs
Contribution margin
Break even point
PV Ratio
BEP ANalysis.
break even point
Cost-volume-Profit.
Labor cost is an important value that finance and accounting professionals calculate to determine the direct and indirect price that a company pays for labor. The direct cost of labor includes the cost of wages and benefits for employees who are directly involved in producing the product or service commodity.
ABC is a costing system where indirect costs are assigned to products and services. The system establishes a relationship between overhead costs and production activities by allocating overhead costs to them with high precision. As a result, overhead costs are allocated more accurately based on their relevant activity levels. The system has eliminated the defects of the traditional/absorption costing system. ABC is used both as a planning tool and as a controlling instrument after the production is finished. ABC provides the basis for pricing decisions, inventory valuation, profitability analysis and overhead allocation. The system can effectively be used for both products and services.
Cost Volume Profit (CVP).
Introduction
Fixed costs
Variable costs
Semi variable costs
Contribution margin
Break even point
PV Ratio
BEP ANalysis.
break even point
Cost-volume-Profit.
Labor cost is an important value that finance and accounting professionals calculate to determine the direct and indirect price that a company pays for labor. The direct cost of labor includes the cost of wages and benefits for employees who are directly involved in producing the product or service commodity.
ABC is a costing system where indirect costs are assigned to products and services. The system establishes a relationship between overhead costs and production activities by allocating overhead costs to them with high precision. As a result, overhead costs are allocated more accurately based on their relevant activity levels. The system has eliminated the defects of the traditional/absorption costing system. ABC is used both as a planning tool and as a controlling instrument after the production is finished. ABC provides the basis for pricing decisions, inventory valuation, profitability analysis and overhead allocation. The system can effectively be used for both products and services.
Activity based costing is considered to be useful only for Manufacturing Organizations whereas reality is that it is equally usefull to Service providers
Resentation for PeopleSoft SCM users group comparing and Standard and Actual Costing for Production Inventories using PeopleSoft Cost Managment functionality.
Cost Accounts - Classification of manufacturing costs - Accounting for manufacturing costs. Cost Accounting Systems: Job order costing - Process costing- Activity Based Costing- Costing and the value chain- Target costing- Marginal costing including decision making- Budgetary Control & Variance Analysis - Standard cost system.
In this 30-minute session, you will learn:
1) ERP’s role in capturing manufacturing costs
2) The different methods used to track manufacturing costs
3) How overhead is calculated in total cost
I have made these slides with careful reading from different sources.
I hope it would add on to your knowledge and would be helpful in your work.
thanks
International Business - How MNC keep local company at bay...Hurriya Saeed rana
What is MNC & MNE?
Definition & History
Characteristics of MNC
Reasons for becoming MNC
Advantages of MNC
Disadvantages of MNC for Home Country
How local companies keep MNC at bay?
another project by my group... "Achievers ".... its related to E-marketing plan... of twitter...
hope you will get to learn from these slides as well....
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
4. “Product costing system”
Set of procedures used to account for an organization's
product cost.
Provides timely and accurate unit cost
information for:
----Pricing
----Cost planning and control
----Inventory valuation
----Financial statement preparation
5. “Types of Product Costing”
Job Costing System
Process costing System
6. “Job costing System”
“Job costing is that form of specific order
costing which applies where work is
undertaken to customer's special
requirement.”
Each order is comparatively of short duration.
The work is usually carried out in factory or
workshop.
8. “Features of job costing system”
Specific order costing
Job is carried out to meet specific
requirement of order.
The profit or loss made on each job can be
measured.
It highlights whether the job is profitable or not.
10. “Types of Job order System”
Job order cost-Single unit
Batch Cost-Identical units
Contract cost-More than 1 year
11. “Process costing system”
It is a costing method where goods or services
results from a sequence of continuous or
repetitive operations.
Examples:
Chemicals
Drugs
Food processing
Paper industry
12. “Features of Process costing
system”
The process cost centers are clearly defined
All cost relating to each process cost centers are
accumulated.
The cost and stock records for each department
are maintained accurately.
14. “Similarities in both Systems”
To assign direct material, direct labor and
manufacturing overhead to products.
To provide a mechanism for computing unit cost.
Both systems maintains perpetualinventoryrecords.
The flow of costs through the accounts is basically
the same.
Both can be used in manual and computerized
accounting environment.
15. “Difference between Product costing
systems”
“Job order costing”
Heterogeneous jobs.
Cost accumulated job wise.
Cost sheet is the key
document.
Many different jobs are
worked in different periods.
“Process order costing”
Homogeneous jobs.
Cost accumulated department
wise.
Departmental product report
is the key document.
A single product is produced
either on continued basis or on
long terms periods.
16. “Usage of Process costing systems”
“Job order costing”
Used by the company
that make: unique or
special order product.
“Product order costing”
Used by the companies
that produce large
amount of similar
products.
17.
18. “Examples”
1-Company`s using Job order costing
Stylo
( Batch order costing )
Nirala sweets
( Job order costing)
Hill holiday advertising agency
( Job order costing)
38. “Parallel Product Flow”
WIP WIP
Cutting Department Sanding Department
Dep#1(A) Dep#1(B) WIP
Assembly Department Painting Department
WIP
Paint Wax Department
Dep#2(A) Finished Goods
47. “Cost of Production Report"
Also called Process Cost Sheet.
It summarizes the data of quantities
produced and cost incurred by
producing department.
Prepared at the end of each costing period.