DESIGN AND IMPLEMENTATION OF A COMPUTERIZED COST ACCOUNTING SYSTEM
- Project Research
- 1-5 Chapters
- Qualitative
- Content
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
Background of Study
The fundamental criteria for accounting are determined by the make-up of an economy as well as its historical progression. For example, the focus that has been placed on cost accounting has been aimed at fulfilling the practical demands of the manufacturing industries. As a result of the fast growth and expansion of service industries, accountants are now required to focus their attention on the resolution of a new set of difficulties that are present in a variety of sectors that are unrelated to manufacturing. The challenge that faces the accountant is how to transform the traditional accounting procedures that are now in use into more up-to-date and adaptable systems suitable for use in the service sectors (Mc Mahon, 2021).
It should come as no surprise that the previous system will need to be expanded in order to accommodate the activity of cost and expenditure accounting for production. The shape that this expansion takes is determined by a number of different factors, such as the type of control that is desired to be exercised over the manufacturing activities, the nature of the manufacturing activities themselves, and the relationship that is to be mentioned between the financial records and the cost records (Gorton, 2021).
The preceding discussion makes it abundantly evident that despite the fact that the presentation of cost accounts, for various types of businesses, may differ, it is common to follow the methods that are outlined below:
(a) Each and every expense is scrutinized and broken down into direct and indirect costs. The direct expenses are able to be assigned to a specific task process during operation, and they are afterwards transferred to that job process.
(b) The indirect expenses are entered into the appropriate account. If they can be assigned to a specific account, such as manufacturing overhead, then the term "allocation of overhead" will apply to such costs. However, if they produce enough for their overhead costs to be split across several distinct accounts, this process is known as apportionment of overhead (Gorton, 2021).
Related Project Materials
THE IMPACT OF COST CONTROL STRATEGIES FOR SUSTAINABILITY AND GROWTH
Abstract:
This research explores the impact of cost control strategies on sustainability and growth in...
COMPARATIVE ANALYSIS BETWEEN THE PERFORMANCE OF PUBLIC AND PRIVATE SCHOOLS STUDENTS
BACKGROUND TO THE STUDY
Learning has been so much associated with the school that some people almost th...
INVESTIGATION INTO THE CAUSES AND EFFECT OF INDISCIPLINE AMONG STUDENT IN PUBLIC SECONDARY SCHOOL
ABSTRACT
The purpose of this study was to investigate the causes and effects of indiscipline among seco...
EFFECT OF COGNITIVE APPRENTICESHIP INSTRUCTIONAL METHOD ON STUDENTS’ ACADEMIC ACHIEVEMENT, RETENTION AND INTEREST IN AUTO MECHANICS TECHNOLOGY IN TECHNICAL COLLEGES
Background to the Study
In a rapid developing country like Nigeria, the need for educational institutions to produce cr...
THE IMPACT OF TRANSFORMATIONAL LEADERSHIP ON EMPLOYEE ENGAGEMENT
THE IMPACT OF TRANSFORMATIONAL LEADERSHIP ON EMPLOYEE ENGAGEMENT
This research investi...
A TIME SERIES ANALYSIS OF CUSTOMER ATTENDANCE
ABSTRACT
This study was carried out to examine if there is a there is a relationship between customer attendance and ade...
EXAMINATION OF RISK BEHAVIOR FROM HARD DRUGS (METHAMPHETAMINE "MKPURUMMIRI") AMONG THE YOUTHS. A CASE STUDY OF UMUNNEOCHI LGA
Substances misuse among youths has been investigated for a long time, with the aim of specifically identifying and studying interventions that will...
CAUSES AND EFFECT OF TWITTER BAN ON NIGERIA CITIZENS
ABSTRACT
The focus of this study is to identify the causes and effects of the Twitter ban on Nigeria's citiz...
FACTORS AFFECTING FAMILY PLANNING SERVICES IN RURAL AREAS AMONG WOMEN(A CASE STUDY OF NSIT IBOM)
Abstract
The empowerment and autonomy of women to enable them to take active part in their child-bearing decisions, deci...
PROBLEMS AND PROSPECTS OF GOVERNMENT OWNED BROADCASTING MEDIA IN NIGERIA
STATEMENT OF THE PROBLEM
Managing and formulating policies have been a serious problem of government ow...
