667–676 www.cleanerproduction.net The use of Environmental Management Accounting (EMA) for identifying environmental costs Christine Jasch ∗ ¨ Institute for Environmental Management and Economics‚ IOW‚ Rechte Wienzeile 1915‚ A-1040 Vienna‚ Austria Received 28 August 2001; accepted 27 June 2002 Abstract The Expert Working Group on “Improving the Role of Government in the Promotion of Environmental Management Accounting (EMA)” was set up by the United Nations Division for Sustainable Development
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Q1: There are two different types of cost accounting systems: Job order cost systems and process cost systems. How does management decide whether to use a job order cost system or a process cost system in any given manufacturing situation? Explain. Job order cost system is used in situations where many different products are produced each period. For example‚ a Levi Strauss clothing factory would typically make many different types of jeans for both men and women during a month. A particular order
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sophisticated services. 2. Describe the existing cost system and calculate the cost of the 5 components in the case. What is wrong with the existing cost system? The existing cost system measures direct labour and overhead. Overhead is grouped into a single cost pool that includes overhead costs associated with each of the testing rooms as well as the engineering overhead costs relating to software and tooling development and the administrative costs of the division. ETO suppliers started to do
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DETERMINING THE COST OF MATERIALS An important area of materials accounting is the costing of materials requisitioned from the storeroom for factory use. The unit cost of incoming materials is known at the time of purchase. The date of each purchase is also known‚ but the materials on hand typically include items purchased on different dates and at different prices. Items that look alike usually are commingled in the storeroom. As a result‚ it may be difficult or impossible to identify an issue
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Accounting 211: Introduction to Managerial Accounting Fall 2013 Syllabus Professor Feng Gao‚ Ph.D. Phone: (312) 996 – 4438 Office Hours: Monday 1:00 – 2:00pm 2321 UH Wednesday 1:00 – 2:00pm 2321 UH Teaching Assistant Uma Mulakala Office Hours: Tuesday 1:00-3:00pm 2347 UH Thursday 1:00-3:00pm 2347 UH Anita Ivanova Office Hours/Review Sessions: TBA Course Email: actg211uic@gmail.com Class Schedule 27836 11:00-11:50 M/W/F LC A001 27837
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CONTENTS INTRODUCTION What is Accounting Branches of Accounting Definition of Environmental Accounting Definition of Management Accounting Functions of Management Accounting LITERATURE REVIEW MANGEMENT ACCOUNTING SYSTEM Features of Useful Management Accounting AN INTRODUCTION TO ENVIRONMENTAL ACCOUNTING {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item}
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Merinos Ltd. uses absoprtion costing to cost their overcoats‚ which means that all of the manufacturing costs are absorbed by the units produced. In the case of ‘Belma’ overcoat this means that cost of a finished overcoat will include direct materials (e.g. leather)‚ direct labour (e.g. skilled labour)‚ and both variable and fixed manufacturing costs (e.g. rent). Non-manufacturing costs are considered as period costs‚ which are costs usually associated with selling
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weighted-average methods of process costing will result in the same dollar amount of costs being transferred to the next department. Which of the following scenarios would have that result? A) when the beginning and ending inventories are equal in terms of unit numbers B) when the beginning and ending inventories are equal in terms of the percentage of completion for both direct materials‚ and conversion costs C) when there is no ending inventory D) when there is no beginning inventory
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Materials Costs Units completed 75‚000 75‚000 75‚000 Units in ending WIP 12‚000 12‚000 11‚400 Total units accounted for 87‚000 87‚000 86‚400 Cost Information Costs to account for: Direct Conversion Materials Costs Total Costs in beginning WIP $ 0 $ 0 $ 0 Costs added by department 75‚000 372‚000 447‚000 Total costs to account for $75‚000 $372‚000 $447‚000 Cost per
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Summary From the A12 redesign proposal‚ it shows that the current standard cost system is unable to link the reduction in the number of parts to activity reductions and cost savings. The labor-direct-based standard cost system reflects the cost of A12 is distorted. Using the ABC system‚ according to the activities of A12 allocate the overhead cost to A12 that could find that the current overhead cost of A12 was overstated by the standard cost system. At last‚ A12 Junction Box could be identified it
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