Accounting Techniques For The Manufacturing Process Essay

Question 1: A. Manufacturing costing systems refer to the accounting techniques used to recognise and record the inputs and outputs values in the manufacturing process (K. Langfield-Smith, Thorne, Hilton, 2009). Job-order costing is about to obtain all costs involved in the basis of individual products. It needs to obtain the exact costs involved in the manufacturing process of a particular unit. This needs to obtain costs incurred for every unit such as materials costs, labour, and manufacturing overhead. Process costing refers to a manufacturing costing system that measure and record the net costs involved in a production process in terms of recording and adding up all direct costs and assigning indirect costs of the production process (K. Langfield-Smith, Thorne, Hilton, 2012). As majority of production processes include more than one step, similar measurements are made for each step in order to get the average unit cost for the overall manufacturing system (K. Langfield-Smith et al., 2009). It needs to obtain direct costs of a manufacturing system such as costs of materials. It also needs to obtain indirect costs that are not directly accountable to the production such as labour and directors salary. Activity-based costing refers to a costing system that initially identifies activities and assigns costs incurred in a single manufacturing task (Gunasekaran A, Marri, H. B, Yusuf, Y.Y, 1999). This, therefore, allocates costs and overheads to items thatShow MoreRelatedIssues of Managerial Accounting1047 Words   |  5 PagesINTRODUCTION : Managerial accounting is concerned with providing information to managers – that is , people inside an organization who direct or control it’s operations. Via managerial accounting managers understood that good business results come from dynamic processes , procedures and practices that are well designed and properly implemented and managed. Certified management accountants are qualified to help their fellow managers achieve good business results because they have earned an advancedRead MoreManagement Accounting : Planning And Performance Management Systems1625 Words   |  7 PagesManagement accounting is described as â€Å"a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organisations strategy† (Blocher, et al., 2009). Many Changes in the business environment have o ccurred in recent years which have caused substantial adjustments in cost management practices leading to a contemporaryRead More JIT Manufacturing and Inventory Control System Essay539 Words   |  3 PagesJIT Manufacturing and Inventory Control System Since the dawn of human existence evolution in all sectors of society has occurred due to Economic factors. This has mainly happened due to the fact that all technological achievements have occurred in favor of money. Specifically we can admit that Economy is the main reason for growth and development. By these means it is in our interest to establish strong economies either as societiesRead MoreToyotas Production System ( Tps )1630 Words   |  7 Pagesimprove the rules to achieve highest productivity. Just In Time means to produce necessary units in the necessary quantities at the necessary time. Jidoka means automation with a human touch (Toyota Australia n.d.). Toyota Australia utilises its manufacturing plant in Althona, Victoria to produce cars in five departments. Firstly, powertrain department produces engine components. Once the engine is finished, it is sent directly to assembly department. Secondly, Press plant manufactures steel panelsRead MoreRelationship Between Accounting Technique And Operation Management Tools925 Words   |  4 Pagesimplement in small and medium enterprises(SME). While, the company cannot obtain the competitive advantage with only cost consideration. Besides the simple cost reduction technique, target costing also should be identified as the integrated strategic profit operation system which is applied with other management techniques. In order to explore the overall effect, a test using value engineering(VE) and quality function development(QFD) analysis was conducted in the small manufactory company. WithRead MoreCost Control: The Definition of Standard Cost Essay1609 Words   |  7 Pagesselected period of time and for prescribed set of working conditions. In other words, a standard cost is a planned cost for a unit of product or service rendered. (Langfield- Smith, 2009) The technique of using standard cost for the purposes of cost control is known as standard costing. It is a system of cost accounting which is designed to find out how much should be the cost of a product under the existing conditions. The actual cost can be ascertained only when production is undertaken. The predeterminedRead MoreActivity Based Costing1107 Words   |  5 Pagesmethod in 1988. It was felt that there was a need for more accurate and up-to-date information and a more proactive approach to planning and managing the costs. ABC is a process to identify the costs of all activities and allocating, applying, assigning or tracing costs to products. Activity based costing is a costing technique, tool, system, mechanism or approach. It may be used in addition to the current traditional system or used in place of it. This will enable the new system to be applied consistentlyRead MoreToyota s Performance Using Evaluation And Control Techniques1309 Words   |  6 PagesIntroduc tion. Toyota, one of the biggest car makers in the world, is famous for its effective manufacturing and costing systems which have served as role models for many companies on an international scale. One of its most popular manufacturing and costing systems is the Toyota Production System (TPS), launched in the 1980s. Toyota Production System (TPS) is based on a form of lean manufacturing and accounting, first developed and used by Ford Motor Company in the 1920s (Iuga and Kifor, 2013). In thisRead MoreBUS 630 Final Paper1617 Words   |  7 PagesDecision Making with Managerial Accounting Managerial accounting is essential for decision making. Making the best choice depends on the managers goals, the anticipated results from each alternative, and the information available when the decision is made (Schneider, 2012). The different techniques associated with managerial accounting are very helpful in the decisions that need to be made. In order to truly understand decision making with managerial accounting one must first discern exactly whatRead MoreLean Manufacturing Is The Pursuit And Elimination Of Waste1339 Words   |  6 Pagesâ€Å"Lean manufacturing is the pursuit and elimination of waste that simultaneously embodies respect for people† (Hansen and Mowen 6). Key purposes of lean manufacturing are to eliminate waste, reduce costs, and to maximize customer value. As companies try to cut down on the amount of waste they produce, their goal is to maximize their efficiency and cut the costs that are incurred. Lean manufacturing is described as, â€Å"deliver ing the right product, in the right quantity, with the right quality, at the

The Invasion Of Privacy On Social Media - 1800 Words

In this digital era, one of the biggest threat for an individual is the invasion of privacy on social media. By social media, I am referring to the interaction and sharing of information on the Internet in order to stay connected with friends, family and business associates. Studies have found that invasion in privacy is a result of multiple factors like lack of consumer knowledge, low self-esteem, growing comfort, trust, generation of revenue and a lack of standards which lead to occurrence of harmful events like identity theft and fraud. â€Å"Self-esteem refers to a person’s overall evaluation or judgment of his or her own self (qtd. in Lee and Cheung 150).† Research reveals that identity theft affects millions of people a year, costing victims countless hours and money in identity recovery. â€Å"Ninety-five percent of Facebook profiles have at least one application, many of which are not reviewed and can be used for criminal purposes (qtd. in Kent).† Use of social networks can also expose individuals to harassment or inappropriate contact from others. â€Å"The Pew Center, in their Cyberbullying 2010 report, states that 93 percent of teens aged 12 to 17 use the Internet. Of that 93 percent, 63 percent of them use the Internet daily. Such high usage increases the risk of their being victims of cyberbullying or other cyber-crimes (qtd. in Cosmato).† Accordingly this essay will explore possible ways to guard privacy when using social media. I will demonstrate that lack of consumerShow MoreRelatedSocial Media Is A Big Invasion Of Privacy915 Words   |  4 Pages Social media has taken over the modern day world. It has helped us to communicate, share information, keep in touch, etc. We often forget about the problems it causes. Social media causes ethical dilemmas such as violations of misrepresentation, privacy, cyber bullying, and spying. Social media sites such as Facebook, Twitter, Instagram, and Snapchat have made the world what it is today. Although, social media helps us tremendously, we have to be very careful that we do not abuse it. In theRead MoreSocial Media Profiles As An Invasion Of Privacy999 Words   |  4 Pages One of the most highly debated issues in the business world is the use of social media profiles as a determining factor in the hiring process. Some people feel that using someone’s social media profile is an invasion of privacy because it uses something from their personal life to determine their professional success. As long as the company follows some basic guidelines I believe there is nothing wrong with them looking into the profiles of their potential employees. It is important to point outRead MoreSocial Media s Eroding Our Privacy Essay1312 Words   |  6 PagesSeptember 24, 2016 Social Media and U.S Surveillances Eroding our Privacy The emerge of our privacy invasion has mount with government surveillance by the U.S national security system (Baumer, Roth, Epstein, 2014). Government surveillance and social website such as Facebook, Twitter, Google, and YouTube are source of privacy invasion (Cole, 2015). Connecting to social website to communication with friends, family, and co-worker; sharing, updating news, and information which overcast privacy according toRead MoreFacebook Is The Leading Social Media Network1180 Words   |  5 Pagesadvent of social media. These are platforms that allow for individuals to exchange information and ideas through virtual networks that rely on web based applications. Social media platforms are in different forms such as blogs, video sharing sites, and social networks among others. Some of the popular social media sites include Facebook, Twitter, Google+, Wikipedia, LinkedIn and Youtube. III. Summary: By virtue of the amount of time spent on the site, Facebook is the leading social media networkRead MoreThe Censorship Of The Media1665 Words   |  7 Pages Privacy in the Media In addition, the media is in an especially complex situation regarding the current concept of privacy regarding the proper use of technology and due to the numerous ethical issues, that arise from sensationalist media practices. First, the invasion of privacy can be justified by uncovering vital information that serves public interest to be considered ethical journalistic practice (Plaisance, 2014, p. 187). However, while there is less ethical merit in providing the publicRead MoreComprehensive Legislation Of Social Media Privacy1559 Words   |  7 Pages Comprehensive Legislation to Protect Social Media Privacy Reading and Writing Workshop II, Section 007 Qiu Jin (Rachel) August 11, 2014 Comprehensive Legislation to Protect Social Media Privacy Abstract The article makes a research on both the present situation of social media users’ privacy, and the work of the FTC and other federal departments to protect social media privacy. However, without a comprehensive legislation in the federal level, the fragmentation of such trial cannotRead MoreCensorship Of Public s Privacy1321 Words   |  6 PagesV. Free Speech Coalition (00-795) 198 F.3d 1083, affirmed,2002) In the 21st century, technology has advanced significantly, making invasion of privacy much easier and much more common. Thus, due to the government’s implementation of censorship in society today, the invasion of public’s privacy is a much greater issue. As a result of the invasion of the public’s privacy, human rights are constantly violated, which directly causes anger within the public body towards the government. To begin, manyRead MoreThe Impact Of Social Media On Hiring Process1234 Words   |  5 PagesJill Cooper Torres English 105 9 September 2014 Social Media In The Hiring Process The effects of social media are inescapable. While Facebook and other social media networks have people sharing even the most mundane events of life, the popular websites also bring into question serious legal issues, particularly in the hiring practices of companies. The access of hiring managers to reach into private lives and reveal personal information of a potential employee is not only tempting, but now commonRead MoreOutrage over the NSAs Data Collection is Hypocritical in the Publics Acceptance of Data Mining by Other Companies1701 Words   |  7 PagesDaniel Ellsberg†. (Gellman, B., Poitras, L. 2013). This was first reported by USA Today. ( Cauley, Leslie. 2006). There was no public comment at this time and it faded from memory. Recent events by the NSA have created public outrage about this invasion of privacy and expressed incredulity at how this could happen or even that it was possible. Although it had been reported previously, the American public seemed to ac cept it and moved on. Wireless technology has been around for decades. There is a partRead MoreThe Freedom Of Expression And Privacy Of Citizens1471 Words   |  6 Pagesquestioning freedoms and privacy of citizens. One of these freedoms that is being questioned is the freedom of expression. The freedom of expression, as freedomhouse.org stated, â€Å"is the right of every individual to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers † (Freedom of Expression). This freedom is described in Article 19 in the Universal Declaration of Human Rights. The other issue, privacy, is also important

Going Unplugged Essay Sample free essay sample

Back to the Stone Age. That is what went through my head as I prepared to get down the Unplugged Challenge and gulf from the cyberspace for five yearss. Several inquiries crossed my head before I began. How will I remain connected with people? What if I miss an electronic mail calling me the Publishers Clearing House ‘Grand Prize Winner? ’ Could I live for about a hebdomad without the hunt capableness of Google or the screaming pictures of YouTube? It seemed to me that populating without the cyberspace was kindred to losing an arm. Would I be able to last without it? The first forenoon of the challenge I awoke to a blare dismay clock. Really. 6am already? ! I dragged myself out of bed and grabbed my phone to look into the intelligence and conditions. like I usually do. Wait. NO! ! I rapidly reminded myself of the challenge and put down my phone before the browser could open. Wow. I thought. merely 15 proceedingss into the challenge and I have about had a failure. The remainder of the first twenty-four hours was a acrimonious battle of human willpower vs. engineering. Every 10 or 15 proceedingss I found myself instinctively catching my phone and dialing up Facebook or Google. Each and every clip I had to consciously remind myself of the challenge. Back off. I told myself. set the phone down. and everything will be alright. Though everything turned out alright. by the terminal of twenty-four hours one I felt rather frustrated and disconnected. I merely wanted to post a Facebook update or direct an electronic mail to a friend. With four more yearss of disconnect in front. I began to oppugn whether or non I would do it. The forenoon of twenty-four hours two found me with a newfound resoluteness and finding. I scolded myself for my hapless attitude on twenty-four hours one. and began to explicate a new program for success. I turned off the Wi-Fi on my phone. and put a xanthous gluey note on the forepart stating â€Å"No Internet. No Excuses! † I put a similar note on my laptop at place. though the enticement to logon from at that place was non as great. Throughout the twenty-four hours I remained strong. and. though there were enticements. I found the impulses to logon less frequent and easier to command. By the terminal of twenty-four hours two I felt like I had good control and would acquire through this. Hmm†¦maybe I could last about a hebdomad without the cyberspace. The eventide of twenty-four hours three I decided to travel out to dinner with a few friends. Once we got to the eating house. we sat down. ordered a few drinks. and got to speaking about our twenty-four hours. I told my friends about the Unplugged Challenge and my technological independency. They were supportive. but within five proceedingss everyone but me had their caputs buried in their phones and barely said a word. Really. I thought. why should I seek to hold a conversation with these people when they prefer to react quicker to a ‘poke’ on Facebook! ? I looked about at each individual at the tabular array. they looked like drones ; mindless drones focused on nil more than their practical universes. Around the eating house I noticed that about every-other tabular array had person more focussed o n their practical universe. instead than on the existent universe sitting right across from them. Have our society gotten to the point where practical interactions supersede human interactions? From the â€Å"relationships† I observed around the eating house. it appeared so. I stopped my disdainful judgment and softly wondered if my ain life had looked much the same when I was â€Å"plugged-in. † Before I left. I told my friends there were a few more yearss in the challenge and they proceeded to give me â€Å"encouraging† remarks that sounded more like commiserations instead than support. â€Å"Oh we are so regretful to hear that. † said one friend. â€Å"Yeah. you must be devastated. † said another. â€Å"Hey. † I told them. â€Å"I do non necessitate the cyberspace to go on being me! † Days four and five provided further grounds for my turning sentiment that life without the cyberspace was survivable. On the afternoon of twenty-four hours four I found myself fighting to specify a twosome words from the book I was reading. Rather than catch my phone and travel to Google. I dusted off the lexicon and rapidly found the definit ions. The following dark. my grandma and I were seeking for a specific Peruvian eating house in Denver. Rather than terror and look into on the cyberspace. I grabbed to the phone book and found the eating house we were looking for. Although these pieces of information could be easy found on the cyberspace. it did non trouble oneself me to hold to look through the phone book or dictionary. If anything. it gave me a encouragement of assurance to go on to seek for replies in different ways. It was eventually get downing to click on me ; even without the amazing power of the cyberspace. life could travel on. I have come to the decision we as a society have become dependent on the cyberspace and many times find our lives dissatisfied or incomplete without it. Traveling about a hebdomad without the cyberspace truly opened my eyes to my ain cyberspace dependence. Before the challenge I thought my life would be suffering without the cyberspace ; I did non believe I could last. After finishing the challenge I am determined that although the World-Wide-Web may hold its comfortss. have a pick in merely how. and why. I use my clip online. My endurance is non dependent on the cyberspace. and merely because it is at that place. does non intend I must utilize it as my primary fact-checker or beginning of amusement. Choice. In my sentiment. that is what this full challenge furuncles down to. From now on I am traveling to take to restrict my internet clip to e-mail and school work. I am traveling to take to pass more clip with my friends and household. and non online. I believe we all have a pick. either we learn to command the clip we spend on the cyberspace. or it will command us.