http://www.writework.com/essay/issues-product-costing-unimportant-virtual-organisations-o Issues of product costing are unimportant for virtual organisations that outsource production operations." Essay by hotsanjaysoni‚ B-‚ March 2005 The topic states that is product costing important for virtual organisations that are outsourcing their production operations. Virtual organisations are those corporation that operate in the world of e-business or e-commerce. A virtual organisation can be defined
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materials and indirect materials. Direct Materials: Direct materials are those that form part of a product. Raw materials‚ semifinished products‚ and finished products which can be identified with production of a product are known as direct materials. Sugar cane‚ cotton‚ oilseeds‚ woods etc. are examples of direct materials. The cost of materials involves conversion of raw materials into finished products. Indirect Materials: Material costs‚ other than direct material cost are known as indirect material
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course requirement for the post graduate program in management for final year project. It has not been submitted by me or any other person to any other university or institution for degree or diploma. It’s my own work done in SAMSUNG ELECTRONICS PVT Ltd‚ Pune. Place: Date: Kishor Kumar Jaiswal MBA (Marketing & HR) Reg NO - 35080248 SRM University‚ Chennai (2008-2010) ACKNOWLEDGEMENT I have made an honest and dedicated attempt to make the research material as authentic as I could do and
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KOMATSU LIMITED INTRODUCTION The case is about two companies‚ Komatsu ltd. and caterpillar ltd. And how a small company like komatsu was able to compete with giants like caterpillar and was able to grow to gain number two position in the world market. CAT had suffered major financial losses during the period from 1981 through 1984‚ the case describes how Komatsu grew from a $170 million local manufacturer in 1963 to become CAT’s major challenge in the emerging global competitive battle. The case
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Even though “ABC has emerged as a tremendously useful guide to management action that can translate directly into higher profit” (Kaplan and Copper1991) It is not fair to say that Absorption costing is no longer relevant. In fact ABC does not conform to GAAP (generally accepted accounting principles). Absorption costing is conventionally used for external reports‚ filings and other statutory compliances; where all of the manufacturing costs and only manufacturing costs are needed. For example auditors
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CHAPTER 9 PROFIT PLANNING AND BUDGETING Questions‚ Exercises‚ Problems‚ and Cases: Answers and Solutions 9.1 See text or glossary at the end of the book. 9.2 A cost center is a responsibility center in which management is responsible only for costs. In a profit center‚ management is responsible for both costs and revenues. 9.3 An investment center is a responsibility center in which management is responsible for managing costs‚ revenues‚ and assets. A profit center is not responsible
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Profit Planning and Budgeting: Profit planning: Profit planning can be defined as the set of steps that are taken by firms to achieve the desired level of profit. Planning is accomplished through the preparation of a number of budgets‚ which‚ when brought through‚ from an integrated business plan known as master budget. The master budget is an essential management tool that communicates management’s plan throughout the organization‚ allocates resources‚ and coordinates activities. Budgeting:
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Konm Komatsu Case sorularının Cevapları 1-Komatsu was able to evolve from a 169 million Dollar company with low-quality products to become a real challenge to Caterpillar by taking vital series of actions. First action was taken by Kawai’s father by initiating a Total Quality Control(TQC) program in 1961. In this context‚ Kawai’s strategy was to acquaire and develop advanced technology‚ to raise quality and to increase efficiency to the level necessary to “catch up with and surpass Cat”. In order
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Development of Product Costing Module in ERP for L&T Kansbahal Works‚ Kansbhal‚ Orissa : A Case Study 1 Seema G. Bhol‚ 2Arun Mishra & 3Srikanta Patnaik Sambalpur University‚ Burla‚ Orissa‚ India‚ 2Head (IT Services)‚ L&T‚ Kansbhal‚ Orissa‚ India‚ 3 Department of Computer Science ITER ‚ SOA University ‚ Bhubaneswar‚ Orissa‚ India E-mail : guptaseema@hotmail.com‚ arun-kbl@kbl.ltindia.com‚ patnaik_srikanta@yahoo.co.in 1 Abstract - One need to be very accurate in what the products and services
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single process to produce more than one product. This paradigm adds complexity in the simultaneous production of more than one product from a joint process. Their determination at the cost of such products‚ individually‚ hence posses a difficult task to the cost accountant especially because they are of such varied nature characterized by many varieties. Despite difficulty it is possibly essential to make a fair and equitable allocation of cost to each product since this is critically important not
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