stewart box company
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The Stewart Box Company uses an accounting system with paperboard and carton departments. It prepares budgets for production based on machine times and service departments based on activity levels. Budgets are first discussed with the controller or relevant managers then reviewed monthly. Statements include balance sheets and receivables. A transfer price is used between two internal items.
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-Meaning of Cost Accounting
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Cost accounting is the process of collecting, assigning, and evaluating costs to products and services to understand where a company earns and loses money. It provides input for managerial decision making regarding future profits. Cost accounting objectives include determining selling prices, controlling costs, providing information for decisions, ascertaining costing profit, and facilitating financial statements preparation. It is important for management to determine product costs, facilitate planning and control, eliminate waste, provide estimates and identify unprofitable activities. Cost accounting also benefits employees through incentive plans.
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Cost accounting aims to capture a company's costs of production by assessing input and fixed costs to aid management in measuring financial performance. It is important because it allows for (1) classification and subdivision of costs by department, product, etc., (2) determination of selling prices based on production costs, and (3) identification of profitable and unprofitable products or activities.
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Work measurement increases productivityand role of jit om
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St chap001
The chapter discusses key topics in cost accounting including how managers use cost information for decision making and performance evaluation. It describes the differences between cost and financial accounting and how cost accounting has evolved with trends like activity-based costing. The chapter also addresses ethical issues cost accountants may face and how to properly handle situations involving conflicts of interest.
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The chapter discusses key topics in cost accounting including how managers use cost information for decision making and performance evaluation. It describes the differences between cost and financial accounting and how cost accounting has evolved with trends like activity-based costing. The chapter also addresses ethical issues cost accountants may face and how to properly handle situations involving conflicts of interest.
Cooperative management
The document discusses cooperative management and planning. It begins by emphasizing the importance of setting shared objectives and goals for the cooperative. This includes determining the cooperative's main occupation and targets through tools like SWOT analysis and logical framework analysis. The document then outlines steps for setting operational targets and identifying required inputs, activities, and outputs. It stresses the importance of feasibility studies and developing business and management plans with timelines, responsibilities, budgets, forecasts and reporting. The document emphasizes clearly defining roles and relationships through tools like assigning responsibilities matrices. Regular monitoring and evaluation of results against plans is highlighted as crucial for cooperative success.
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โ โุฅุถุบ ุจูู ุฅูุฏููู
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ุฉ ุชุดุฑูุญ ุงูุฌูุงุฒ ุงูููููู (ูุธุฑู 3)
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2- ุชุญุชูู ุนูู 78 ุฑุณู
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3- ุฏูุฉ ุงููุชุงุจุฉ ูุงูุตูุฑ ุนุงููุฉ ุฌุฏุงู ุฌุฏุงู ุฌุฏุงู
4- ูููุงูู ุจุนุถ ุงูู
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ุฐููุฑุฉ ูู ูุฐูู ุงูู
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stewart box company
- 1. PRESENTED BY : KOTHIVAL NAMRATA V. Stewart Box Company
- 2. INTORDUCTION
- 5. Strategic Planning ๏ฑ Visionary outlook (larger space for warehouse) ๏ฑ Purchase of new assets on periodic basis (eg. printing press) ๏ฑ Designing special boxes to customer specifications ๏ฑ Periodic review done on each side of its operation ( Experts for Production)
- 6. BUDGET PREPARATION Criteria for Budget Preparation ๏ผ For the production department, output was measured in terms of machine times or direct labour times. ๏ผ For the service department, it was measured in terms of an appropriate measure of activity.
- 7. BUDGET DISCUSSION ๏ถ Each responsibility center head discussed his budget first with the controller. ๏ง In case of the carbon factory, discussed the budget with the manager of profit center. ๏ง Marketing budget discussed with the marketing vice president.
- 8. REPORT Each month every department prepared the various statement like: ๏ง Monthly Balance sheet ๏ง Selling, general and administrative statement ๏ง Overdue accounts receivable ๏ง Overdue shipment
- 9. QUESTIONS ๏ถ A transfer price was used in connection with two items. What are the two items? ๏ถWhat do you regard as the particularly strong points of the system described in this case? What are its weak point?