레이블이 Cost Accounting Tutorial인 게시물을 표시합니다. 모든 게시물 표시
레이블이 Cost Accounting Tutorial인 게시물을 표시합니다. 모든 게시물 표시

2013년 12월 1일 일요일

About 'cost accounting doc'|Costing_formulae.doc







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Patients               may               perhaps               have               to               start               thinking               outside               the               box               when               choosing               a               doctor.

Well               maybe               not.

So               please               don't               go               throwing               away               that               yearly               listing               you               receive               in               the               mail               when               your               health               coverage               enrollment               campaign               begins.

But               don't               be               too               quick               in               dismissing               the               idea.

In               an               article               entitled,               Doctor-Patient               Rendezvous               is               an               accounting               of               this               scenario.

It               was               in               the               July/August               2010               edition               of               the               AARP               Bulletin.

It               was               written               by               Mike               Tucker.

In               an               attempt               to               better               budget               their               hospital               finances               and               in               dealing               with               competition,               a               hospital               in               Texas               did               something               rather               unique.
               According               to               the               article,               "About               20               patients               recently               gathered               at               the               Texas               Health               Harris               Methodist               Hospital               Hurst-Euless-Bedford               in               Bedford               for               a               "speed               dating"               session               with               prospective               doctors.
               Each               patient               was               paired               up               with               a               doctor               and               for               5               minutes               was               given               time               to               ask               questions               and               get               answers.

Its               purpose               was               to               see               if               the               patient               and               doctor               would               be               a               good               match.

According               to               hospital               spokeswoman,               Jennifer               Gordon               Erickson,               "It's               an               inexpensive,               time-efficient               way               for               people               to               meet               physicians               in               a               nonthreatening,               relaxed               and               fun               environment".
               As               I               thought               about               it,               it               was               somewhat               humorous               to               me.

But               then               when               I               further               contemplated               I               likened               it               to               "trying               before               you               buy".

Since               I'm               sure               I'll               have               to               pay               some               cost               with               my               doctor's               visit,               I               might               as               well               give               it               to               someone               who               I               feel               I               have               some               rapport               with.

I'd               like               to               think               that               I               am               more               than               just               a               social               security               number               to               my               doctor.
               I               have               been               fortunate               to               have               had               good               doctors               who               seem               to               care               about               me               as               an               individual.

On               the               other               hand               this               option               might               be               a               good               idea               for               patients               and               doctors               who               don't               really               have               a               good               patient-doctor               relationship.
               It               will               be               interesting               to               see               if               this               is               something               other               medical               professionals               will               embark               upon.

Stranger               things               have               happened.
               SOURCE:
               AARP               Bulletin,               July/August               2010,               page               8






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    2013년 11월 29일 금요일

    About 'www.cost accounting.com'|www.cost accounting.com







    About 'www.cost accounting.com'|www.cost accounting.com








    Introduction               A               byproduct               can               be               defined               as               a               secondary               product               made               during               the               manufacture               of               another               product.

    The               original               product               is               often               called               the               main               product.

    Byproducts               are               also               defined               as               being               "the               products               of               a               joint               production               process               that               have               low               total               sales               value               when               compared               with               the               total               sales               value               of               the               main               product               or               of               joint               products"               (Horngren               et               al,               2006,               p.

    567).

    Examples               of               byproducts               include               orange               oil               collected               from               the               peels               of               processed               oranges,               molasses               produced               during               the               process               of               refining               sugar,               and               asphalt               created               from               the               process               of               refining               crude               oil               (Wikimedia               Foundation,               Inc.,               2006).
                   Advantages               of               Byproduct               Processing
                   There               are               several               advantages               to               byproduct               processing.

    One               advantage               is               that               it               converts               waste               into               a               product               that               can               be               sold.

    This               can               result               in               increased               profit               by               greatly               reducing               waste               and               increasing               revenue.

    Byproduct               processing               may               also               be               good               for               the               environment               due               to               the               conversion               of               scrap               into               a               useable               product.

    In               addition,               any               costs               associated               with               disposal               of               the               waste               are               eliminated               when               that               waste               is               converted               into               the               byproduct.
                   Disadvantages               of               Byproduct               Processing
                   One               disadvantage               of               byproduct               processing               is               the               potential               for               increased               cost.

    This               is               because               the               byproduct               will               most               likely               require               additional               processing               after               it               has               been               removed               from               the               main               product.

    Additionally,               byproduct               processing               "can               affect               the               allocation               of               joint               costs"               (Horngren               et               al,               2006,               p.

    577).

    However,               "by-product               cost               is               commonly               regarded               as               difficult               to               determine"               (Slater               &               Wootten,               n.d.).
                   Byproduct               Accounting               Methods
                   There               are               two               chief               methods               of               accounting               for               byproducts.

    These               methods               are               the               sales               method               and               the               production               method.

    The               sales               method               recognizes               the               byproduct               in               the               income               statement               at               the               time               of               sale.

    This               method               is               most               commonly               used               in               practice               due               to               its               simplicity.

    The               production               method               "recognizes               the               byproduct               in               the               financial               statements...in               the               month               it               is               produced"               (Horngren               et               al,               2006,               p.

    578).

    This               method               allocates               costs               using               the               net               realizable               value               method               and               offsets               the               costs               against               the               costs               of               the               main               product.

    The               production               method               is               the               preferred               method               because               it               complies               with               the               GAAP               matching               principle               by               matching               "the               revenues               and               expenses               from               selling               the               main               product"               (Horngren               et               al,               2006,               p.

    580).
                   Conclusion
                   Companies               that               are               considering               implementing               byproduct               processing               should               first               compare               the               advantages               and               disadvantages               associated               with               using               the               product               waste               to               manufacture               a               new,               additional               product.

    A               cost-benefit               analysis               evaluating               the               additional               costs               versus               potential               increased               revenue               would               also               be               helpful               in               making               this               decision.
                   References
                   Horngren,               C.

    T.,               Datar,               S.

    M.,               &               Foster,               G.

    (2006).

    "Cost               Accounting:               A               managerial               emphasis."               (12th               ed.).

    Upper               Saddle               River,               NJ:               Pearson               Prentice               Hall.
                   Slater,               K.

    &               Wootten,               C.

    (n.d.)               "Monograph               on               joint               and               by-products               costing."               All               India               Cost               and               management               Accountants               Society               website.

    URL:               http://www.aicmas.com/bp.doc.
                   Wikimedia               Foundation,               Inc.

    (2006).

    "By-product."               Wikipedia               website.

    URL:               http://en.wikipedia.org/wiki/Byproduct.






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