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Costs and Budget Control, Jorge Romero - Cédula 3-724-749 - Coggle Diagram
Costs and Budget Control
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Function and Accounting
Company Classification
The Cooperatives. In cooperatives it must always aim to develop as a strong and efficient company, it is used by its partner to achieve and improve the economic situation
Importance of Cooperatives. The importance of cooperatives lies in the fact that through the application of a true cooperative system with all its established rules, rules, procedures and principles.
Training Anonymous Company or Company by shares. A public limited company is created under the establishment of a state-issued document.
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The partnership contract. Although a society can be formed by verbal agreement, it is highly advisable to find a written partnership agreement
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Usefulness
In economic terms, we say that someone derives “utility” from a good or service when the person prefers that this good or service exists to that it does not exist; or when comparing two services or states, he prefers one to another.
The Accounting Cycle
Accounting systems vary greatly from one company to another, depending on the nature of the business, operations it performs, size of the company, volume of data to handle, and the information demands that management and other stakeholders impose on the system.
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Company Prospective
Growth Aspects
Economic conditions rarely remain immobile. A time of prosperity can be followed by panic or collapse. In short, this is the so-called “economic cycle,” which has characterized the industrialized nations of the world over the past two centuries.
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Economics Aspect
Within a manufacturing context, intermittent systems are traditionally known as workshops. As work orders arrive, the workload on the facility increases.
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Costing Method
Absorbent Cost
In the direct or variable costing method, variable manufacturing costs are assigned to manufactured products
Direct or Variable Cost
Absorbing costing is the most widely used costing system for external purposes and even for decision-making, it tries to include within the cost of the product all the costs of the productive function, regardless of its fixed or variable behavior.
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Account Plan
A chart of accounts is a list that contains all the accounts that are required to record the posting facts
Nature of Cost
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Cost, Price, Utility
Within traditional cost accounting, all manufacturing costs are included in the cost of a product for inventory cost purposes, as are all non-manufacturing costs.
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Accounting Cycle
Balance Sheet Content
The structure from one exercise to another may not be changed, except for exceptional cases to be indicated in the report.
New headings may be added to those provided for in the normal and abbreviated models, provided that their content is not provided for in the existing ones.
Items to which no amount is applicable in the financial year or in the preceding year shall not appear.
The posting criteria from one fiscal year to another may not be changed, except for exceptional cases to be indicated in the report.
Each heading shall include, in addition to the figures for the year to be closed, those for the financial year immediately before, for this purpose, where some and the other are not comparable
A more detailed subdivision of the items that appear in the models, both normal and abbreviated, may be made.
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Commodity Accounting
Materials that are actually part of the finished product are known as raw materials or main materials.
To maintain a properly balanced stock investment, planning and control work is required.
P.E.P.S. First In First Out, U.E.P.S. Last In First Out P.P.P.P.: It is the least sensitive to price variations. If these are on the rise, the valuation is made at lower guarismos than those of the square.
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