Question

What forces have caused cost and management accounting systems designed decades ago to become less relevant...

What forces have caused cost and management accounting systems designed decades ago to become less relevant and less valuable for organizational employees in today’s globally competitive environment?
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

*Any doubt please comment

Forces that haved aused cost and management accounting systems designed decades ago to become less relevant and less valuable for organizational employees in today’s globally competitive environment :

1. The knowledge base is insufficient and does not comprehensively all the costing requirements of today's manufacturing environment. Also , there is no standard definition for cost management.

2. Most cost systems have become automated and the costing methods designed such as standard costing do not find any use in today's world.

3. The increasing complexity of manufacturing processes and traditional costing systems make it difficult to identify appropriate cost drivers.

4. Rapid changes in internal and external environment which have challenged the traditional cost management systems.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What forces have caused cost and management accounting systems designed decades ago to become less relevant...
What forces have caused cost and management accounting systems designed decades ago to become less relevant and less valuable for organizational employees in today’s globally competitive environment?
Strategic cost management highlights enhanced cost measurement systems, paving the way for management accounting to retain...
Strategic cost management highlights enhanced cost measurement systems, paving the way for management accounting to retain its relevance in today’s environment. Strategic cost management consists of those actions taken by managers to concurrently reduce cost as well as enhance customer satisfaction with the aid of modified / new approaches and techniques in managing cost more effectively / strategically (Drury, 2012). Required: a)   Advanced manufacturing technologies (AMT) i)   What are the challenges management accountants and companies face in adopting this tool...
Strategic cost management highlights enhanced cost measurement systems, paving the way for management accounting to retain...
Strategic cost management highlights enhanced cost measurement systems, paving the way for management accounting to retain its relevance in today’s environment. Strategic cost management consists of those actions taken by managers to concurrently reduce cost as well as enhance customer satisfaction with the aid of modified / new approaches and techniques in managing cost more effectively / strategically (Drury, 2012). Required: a)   Advanced manufacturing technologies (AMT) 1)   Describe the chosen costing tool / technique. 2)   Discuss how the chosen tool...
Using your knowledge of information security management systems, and your accounting knowledge on cost-benefit to the...
Using your knowledge of information security management systems, and your accounting knowledge on cost-benefit to the company, what sort of system would you recommend for a small construction company that has a warehouse, office space, three vans, seven employees plus the owner, and stores about a half million dollars worth of construction materials and tools in the warehouse?
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules (Chapters 5 to 8). Its purpose is to provide you with experience in analyzing organizational information systems, making recommendations to improve these systems, and formulating a plan to execute on your recommendations. 1. Recommend one of your alternatives that is the best solution to the main issue and justify your recommendation. Your justification should be based on the key decision criteria and you must...
You have recently been hired by a new Japanese accounting firm, headquarter in Tokyo, as the...
You have recently been hired by a new Japanese accounting firm, headquarter in Tokyo, as the director of Information Systems and Telecommunications. Your assignment is to assist security posture of the firm and develop a security structure for this new company. Write your recommendations and reasons to the firm’s CEO. The firm has 600 employees in Tokyo, 50 in Houston, and is planning to open two branch offices in India and California. Ten accountants will be hired at each site....
1) Which of the following is NOT a value-creating activity associated with the differentiation strategy? a....
1) Which of the following is NOT a value-creating activity associated with the differentiation strategy? a. intensive training programs to improve employee efficiency b. strong capability in new product development. c. rapid and timely deliveries to customers. d. procurement systems focused on finding the highest quality raw materials. 2) A certain marble quarry provides a unique type of marble that is richly colored and strikingly veined. It has been used for churches and public buildings throughout the world. The architect...
Department of Management Information Systems, Operations Management and Decision Sciences, University of Dayton, Dayton, Ohio 45419,...
Department of Management Information Systems, Operations Management and Decision Sciences, University of Dayton, Dayton, Ohio 45419, [email protected] Hub Group, a North American intermodal freight rail transportation company, developed an integrated produc- tion decision support system to improve its yield management and container allocation. The system combines a suite of analytical tools, including forecasting, error distribution analysis, expected value-based heuristics, and optimization tools to improve the decision making of Hub's frontline employees. It is important to note that the production decision...
The questions to answer regarding the case material are as follows: Company overview . How the...
The questions to answer regarding the case material are as follows: Company overview . How the company uses its own products or services to enhance the total compensation for its employees. The internal strengths and weaknesses you identified and how the company responded to these factors from a total rewards perspective. The external opportunities and threats you identified and how the company responded to these factors from a total rewards perspective. Examples of traditional and non-traditional rewards and how they...
Team 5 answer the questions What are 4 key things you learned about the topic from...
Team 5 answer the questions What are 4 key things you learned about the topic from reading their paper? How does the topic relate to you and your current or past job? Critique the paper in terms of the organization and quality. Incentive Systems             In this paper, we will focus primarily on financial rewards that companies use to attract, retain and motivate the brightest and most talented candidates in the labor market. By providing a reward system that...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT