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Finance
What is the purpose and value of the job cost report?
Why is it important for budgets and reports to be presented in a clear manner, that they conform to management information requirements and how would a budget timetable or planner assist in satisfying this need?
Why is it important for budgets and reports to be presented in a clear manner, that they conform to management information requirements and how would a budget timetable or planner assist in satisfying this need?
Finance
How could comparisons between your organisation and your competitors be useful?
Finance
What is the expense cycle and why is it more complex than the revenue cycle?
Why is it important to state the assets and liabilities at their correct accrual basis amounts at the start of the accounting cycle?
What might rising trade debtors indicate and what action might you take?
Why is it important to state the assets and liabilities at their correct accrual basis amounts at the start of the accounting cycle?
What might rising trade debtors indicate and what action might you take?
Finance
What are the likely cost implications for a business which expands rapidly?
To what extent are the employees in a team/ section/ division responsible for:
Data collection to support the budget?
Developing realistic and attainable budgets for the section/ division?
Monitoring expenditure?
Using the budget to measure actual work against projected work achievements?
To what extent are the employees in a team/ section/ division responsible for:
Data collection to support the budget?
Developing realistic and attainable budgets for the section/ division?
Monitoring expenditure?
Using the budget to measure actual work against projected work achievements?
Finance
Explain the procedures you might need to follow to access the financial data and plans necessary for efficient operation of a team/ section/ division.
Operational staff are the people actually doing the job in each of the cost centres. These people are in the best position to identify problems, constraints or issues relating to current job costing budgets and to advise financial personnel of requirements for future budgets—to help prioritise resource needs for the next job costing exercise. They should be included in consultative processes for advising on cost information when formulating budgets.Comment on this statement and the implications for expense in the organisation.
Operational staff are the people actually doing the job in each of the cost centres. These people are in the best position to identify problems, constraints or issues relating to current job costing budgets and to advise financial personnel of requirements for future budgets—to help prioritise resource needs for the next job costing exercise. They should be included in consultative processes for advising on cost information when formulating budgets.Comment on this statement and the implications for expense in the organisation.
Finance
What is the relationship between variance analysis reports and system integrity?
Why should backup schedules be reviewed and why is undertaking such a practice important?
Explain the relevance of Australian Standard: Record Management to maintaining management accounting information.
Why should backup schedules be reviewed and why is undertaking such a practice important?
Explain the relevance of Australian Standard: Record Management to maintaining management accounting information.
Finance
What is accrual accounting and why is it the preferred method for accounting?
Discuss the application of policies and procedures to managing accounting information.
What are the key management information requirements
Discuss the application of policies and procedures to managing accounting information.
What are the key management information requirements
Finance
What is a double entry bookkeeping system and what are its advantages?
Finance
Identify and describe cost behaviour characteristics for the different cost elements of a product or service.
Finance
You have been asked to provide an accurate and up-to-date profit and loss report on work in process for a particular job. What data might you draw on, what reports might you need to access and how would you ensure that the information you provide is error free and comprehensive?
