Define cost audit. How is it useful to: (i). Management (ii). Society (iii). Share holders (iv). Government?
Question:
Define cost audit. How is it useful to:
(i). Management
(ii). Society
(iii). Share holders
(iv). Government?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
Cost audit is a systematic examination of a companys cost accounting records processes and activities to ensure they are accurate reliable and complia...View the full answer
Answered By
ROXAN VEGA
I have extensive hands-on experience and proficiency in assisting students in various subjects. During my tutoring sessions, I prioritize creating a supportive and engaging learning environment. I strive to understand each student's unique learning style and tailor my teaching methods accordingly. I am patient, empathetic, and skilled at breaking down complex concepts into simpler, more manageable parts. I encourage active participation and discussion, promoting critical thinking and problem-solving skills.
One of my strengths as a tutor is my ability to adapt to different learning needs and styles. I can explain difficult concepts using real-life examples, visual aids, or interactive exercises, depending on what works best for the student. I also provide clear explanations, answer questions, and offer guidance in a clear and concise manner.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Champion Stores are in trouble. Although the company is a major regional player with hundreds of stores in the upper Midwest, a sharp decline in the regions manufacturing economy has put the company...
-
Mr. Paulo Rodriguez, a fund manager of The Blackstone Group Inc. holds a portfolio with a current value of RM7.83 million. The cash index currently stands at 1,075 points. He fears that the market...
-
Anna works for a firm that makes a machine that makes single shots of coffee, teas, and espresso-based drinks using a proprietary pod technology. The average pack of pods (with 1216 pods) sells for...
-
What could the management team do to improve technology-based communication?
-
Apply risk identification tools and understand the causes, effects, and the integrative nature of project risks. AppendixLO1
-
The balance sheet of Aqua, Inc., a world leader in the design and sale of telescopic equipment, reported the following information on its balance sheets for 2018 and 2017 (figures are in thousands):...
-
Indicate below the net effects that each of the ten independent transactions will have on the following three ratios. Use the expressions: increase, decrease, or no effect. 1. Earnings per share...
-
Mendina, Incorporated produces an advanced type of coffee maker. Information about the coffee maker is below: Total Variable Cost at 200 units Total Cost per Unit Sales Price Target Profit Volume...
-
What as a cost auditor will you verify in the area of work-in-progress?
-
Discuss the purpose of cost audit and circumstances under which a cost audit is desirable.
-
List the most important duties that should be segregated in the sales and collection cycle. Explain why it is desirable that each duty be segregated.
-
Required: Prepare the supporting schedules for your portfolio for presentation to Mandla the supervisor and senior administrator. The schedules for the portfolio need to cover the following: Part A...
-
Write a program that will predict the size of a population of organisms. The program should ask for the starting number of organisms, their average daily population increase (as a percentage), and...
-
Management is keen to reduce inventory levels for materials as well and closing inventories are to be much lower. Expected levels are shown below: Material M1 Material M2 Material M3 2,200 kg 1,300...
-
How do you calculate incremental cost for the following: Complying with the Clean Air Act Amendments will be costly. There are three main options for complying with the Clean Air Act: analyze the...
-
How do I journalize this transaction? Mountain Swirl Ice Cream purchased and took delivery of one ice cream machine for $7,500. Record the sale and the cost of the sale. Markup is 150% of cost....
-
Titan Mining Corporation has 8.7 million shares of common stock outstanding and 230,000 6.4 percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $37 per...
-
The polar coordinates of a point are given. Find the rectangular coordinates of the point. (-1, - /3)
-
Weighted-average method, spoilage. Chipcity is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added evenly...
-
FIFO method, spoilage. Refer to the information in Exercise 18-24. If you want to use Excel to solve this exercise, go to the Excel Lab at www.prenhall.com/horngren/cos113e and download the template...
-
Standard-costing method, spoilage. Refer to the information in Exercise 18-24. Suppose Chipcity determines standard costs of $200 per equivalent unit for direct materials and $75 per equivalent unit...
-
What is Coke's average ownership percentage in its equity method investments? Goodwill is 7000 Calculate the firm's current ratio (current assets/current liabilities). Calculate the current ratio...
-
John has to choose between Project A and Project B, which are mutually exclusive. Project A has an initial cost of $30,000 and an internal rate of return of 16 percent. Project B has an initial cost...
-
Complete the table below, for the above transactions
Study smarter with the SolutionInn App