Accounting Computation Cost Accounting 
Accounting Tools
JULY 8, 2024
How to Account for a Manufacturing Business The accounting for a manufacturing business deals with inventory valuation and the cost of goods sold. The number of cost pools should be minimized to reduce the amount of allocation work by the accountant. The concepts are expanded upon below.
Accounting Tools
SEPTEMBER 3, 2023
Related Courses Cost Accounting Fundamentals Financial Analysis What is a Sunk Cost? A sunk cost is a cost that an entity has incurred, and which it can no longer recover. Sunk costs should not be considered when making the decision to continue investing in an ongoing project, since these costs cannot be recovered.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Inventory Management What is Stock Taking? There may also be a verification step, where the count results are compared to the inventory unit counts in a company's computer system. Stock taking is the counting of on-hand inventory.
Accounting Tools
DECEMBER 22, 2023
Direct labor is typically assigned to a job with a timecard (using a punch clock), timesheet (where hours worked are recorded manually), or with a networked time clock application on a computer. In all cases, the user must correctly identify the job, so that the cost information can be applied to the correct job.
Accounting Tools
MAY 1, 2024
The resulting information can give insights into how overhead costs are being consumed by various activities. Its production team typically has to reset a computer-aided sheet metal bending machine 1,000 times per year, as it crafts suits of armor.
Accounting Tools
JULY 28, 2023
Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is an Allocation Base? An allocation base is the basis upon which an entity allocates its overhead costs. Assign operating department costs (including the allocations from service departments) to products and services.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Cost Accounting Fundamentals What is a Job Cost Sheet? A job cost sheet is a compilation of the actual costs of a job. The report is compiled by the accounting department and distributed to the management team, to see if a job was correctly bid.
Expert insights. Personalized for you.
76 
Let's personalize your content