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Job costing is accounting which tracks the costs and revenues by "job" and enables standardized reporting of profitability by job. For an accounting system to support job costing, it must allow job numbers to be assigned to individual items of expenses and revenues. A job can be defined to be a specific project done for one customer, or a ...
Management assertions or financial statement assertions are the implicit or explicit assertions that the preparer of financial statements is making to its users.These assertions are relevant to auditors performing a financial statement audit in two ways.
In cost accounting, classification is basically on the basis of functions, activities, products, process and on internal planning and control and information needs of the organization. Financial accounting aims at presenting 'true and fair' view of transactions, profit and loss for a period and Statement of financial position (Balance Sheet) on ...
Lean accounting methods have been developed in recent years to provide relevant and thorough accounting, control, and measurement systems without the complex and costly methods of manually driven ABC. Lean accounting is primarily used within lean manufacturing. The approach has proven useful in many service industry areas including healthcare ...
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger.
Functional job analysis (FJA) is a method of job analysis that was developed by the Employment and Training Administration of the United States Department of Labor. FJA produces standardized occupational information specific to the performance of the work and the performer.
Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. [1] Costs are assigned to products, usually in a large batch, which might include an entire month's production. Eventually, costs have to be allocated to individual units of product.
The definitions provided in the Frascati Manual have been adopted by many governments and serve as a common language for discussions of science and technology policy and economic development policy. Originally an OECD standard, it has become an acknowledged standard in R&D studies all over the world and is widely used by various organisations ...