Accounting Tools

JULY 17, 2023

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management What is the Cost of Inventory? Inventory cost includes the costs to order and hold inventory , as well as to administer the related paperwork. The cost of cost accounting personnel is charged to expense as incurred.

Cost Accounting 70

Cost Accounting Payroll Auditing Tax 70

Accounting Tools

APRIL 22, 2023

Related Courses Contract Management Cost Accounting Project Accounting What are Allowable Costs? Allowable costs are those expenses specified in a contract that can be billed to the customer. The seller cannot bill any other costs through to the customer.

Billing 40

Billing Cost Accounting Auditing Accounting 40

Accounting Tools

OCTOBER 22, 2023

Stock taking is a common requirement of a periodic inventory system , and may also be required as part of a company's annual audit. Verify Counts The cost accountant compares the resulting information to the unit balances maintained in the company's perpetual inventory system (assuming that it has one).

Computation 75

Computation Reconciling Auditing Cost Accounting 75

Accounting Tools

JULY 15, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is COGS? COGS is the cost of those goods associated with product sales. The main categories of costs included in COGS are direct materials , direct labor , factory overhead , and production supplies.

Payroll 75

Payroll Auditing Cost Accounting Tax 75

Accounting Tools

APRIL 4, 2023

Related Courses Activity-Based Costing Cost Accounting Fundamentals What is Indirect Overhead? Indirect overhead is any overhead cost that is not part of manufacturing overhead. Thus, indirect overhead is not directly related to a company's production of goods or provision of services to customers.

Cost Accounting 40

Cost Accounting Auditing Accounting Accounting 40

Accounting Tools

OCTOBER 22, 2023

Related Courses Cost Accounting Fundamentals What are Indirect Expenses? Indirect expenses are those expenses that are incurred to operate a business as a whole or a segment of a business, and so cannot be directly associated with a cost object , such as a product, service, or customer.

Cost Accounting 40

Cost Accounting Auditing Accounting Accounting 40

Accounting Tools

JULY 23, 2024

Related AccountingTools Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory Material Costing for Subsequent Valuation Once inventory has been received into stock, it is subject to the lower of cost or market (LCM) rule.

Financial Reporting 40

Financial Reporting Auditing Cost Accounting Tax 40

Accounting Tools

NOVEMBER 1, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is Direct Material Cost? Direct material cost is the cost of the raw materials and components used to create a product.

Cost Accounting 40

Cost Accounting Budgeting Billing Auditing 40

Accounting Tools

APRIL 5, 2023

Related Courses Cost Accounting Fundamentals Operations Management What is Backflush Costing? Backflush costing is a streamlined approach to recording the cost of production only after goods have been produced. Without this ancillary recordkeeping, the inventory records will be inaccurate.

Cost Accounting 40

Cost Accounting Billing Auditing Accounting 40

Accounting Tools

OCTOBER 27, 2023

Without proper account analysis, these accounts tend to build up amounts that should have been purged at some point in the past. If a company's external auditors locate these problems during an audit , they will require that the indicated items be written off , resulting in unexpected earnings reductions.

Accounting 40

Accounting Accounting Reconciling Account Reconciliation 40

Accounting Tools

SEPTEMBER 26, 2023

Related Courses Cost Accounting Fundamentals What is an Efficiency Variance? For example, an efficiency variance can be calculated for the number of hours required to complete an audit versus the budgeted amount. The efficiency variance is the difference between the actual unit usage of something and the expected amount of it.

Budgeting 40

Budgeting Auditing Cost Accounting Accounting 40

Accounting Tools

JUNE 16, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What are Indirect Materials? Indirect materials are materials used in the production process, but which cannot be linked to a specific product or job.

Record Keeping 40

Record Keeping Billing Auditing Cost Accounting 40

Accounting Tools

SEPTEMBER 20, 2023

Related Courses Accounting for Inventory How to Audit Inventory What is a LIFO Layer? A LIFO layer refers to a tranche of cost in an inventory costing system that follows the last-in, first-out (LIFO) cost flow assumption. The cost accountant can provide them with this information.

Auditing 40

Auditing Cost Accounting Tax Accounting 40

Accounting Tools

MARCH 24, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals How to Audit Inventory What is the Cost of Goods Manufactured? The cost of goods manufactured is the cost assigned to produced units in an accounting period.

Payroll 40

Payroll Auditing Cost Accounting Accounting 40

IMA's Count Me

SEPTEMBER 21, 2022

Tori: But seeing the exam simulated during my studying in this way definitely helped a lot. So it's definitely different, but I think it sounds like it's still pretty similar, but a lot more computer based and electronic. And at the time I was taking our cost accounting class which I was really enjoying. Margaret: Right.

Computation 40

Computation CPA Management Accounting Financial Reporting 40

IMA's Count Me

JUNE 20, 2021

Well, I think technical skills are obviously very important in our role as accountants and finance professionals. Our ability to analyze numbers and apply technical financial guidance, whether it's cost accounting or manufacturing accounting, or U.S.

Accounting 40

Accounting Accounting Cost Accounting Accounts Payable 40

IMA's Count Me

NOVEMBER 16, 2022

And, so, I ended up going back to school to get my Master's in Accounting. But I was really frustrated because when I started working on my Master's in Accounting, the real big push was for tax and audit, all the time. So that's how I heard about the CMA within my cost accounting class.

CPA 40

CPA Computation Management Accounting Accounting 40

IMA's Count Me

NOVEMBER 14, 2022

And I did, I did a few different corporate accounting type of jobs. Doing internal audit for one of the large studios down in Los Angeles and then moving to Paris for a few years and being able to do international consulting. Simone: I've always focused on accounting, right? Here's your audit report. Adam: Definitely.

CPA 40

CPA Management Accounting Tax Accounting 40