Enter the accountancy department costs for option a
Enter the accountancy department costs for option a. Note: The remaining staff to be retained under the Outsource Option will be as follows: 1-Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Step 3/4 Read the value of the accounting costs. Jun 8, 2023 · At the same time, cost accountancy is a practice since it requires the continued efforts of a cost accountant in the field of cost accountancy. International accounting. Corporate accounting. Tax accounting. like adding 10% to current salaries and 25% additional and calculate the ans but still got incorrect so hep me… Calculate the forecast post exit (after MEXIT) accounting department costs as a percentage of sales on the assumption that all staff who resign, pre-MEXIT, are replaced. As i have tried many things . Answer Q Use the Internet to research career options within the accounting field and accounting job postings in your Enter the accountancy department costs for Option A Jan 19, 2020 · Please note that the ask the tutor forums are a free service – not a 24/7 answering service. Let's calculate: Total accounting department costs: $800,000 Adjusted salary costs for retained staff: - Head of accounting: unchanged at $70,000 - Fully Qualified (FQ) Accountants: 2 x $70,000 * 1. Outsourcing would mean that 40% of the other non-staff accounting department costs could be saved each year. Jul 29, 2024 · Cost accounting is a form of managerial accounting that aims to capture a company's total cost of production by assessing its variable and fixed costs. Enter the accountancy department costs for Option A (to the nearest M'000). Meet with process owners and gain an understanding of how their Adams Manufacturing's five manufacturing departments had the following operating and cost information for the two most recent months of activity: Units produced May - 10,000 June - 20,000 Costs in each department Department A May - $10,000 June - $10,000 Department B May - $25,000 June - $50,000 Department C May - $35,000 June - $45,000 Jun 29, 2024 · Cost accounting is a managerial accounting process that involves recording, analyzing, and reporting a company's costs. Oct 8, 2022 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Answer to Enter the accountancy department costs for Option B: Incorrect X Aug 16, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Qualified (FQ) Accountants + 3 Part Qualified (PQ) Accountants + 4 Accounting Technicians Qualified (FQ) Accountants and one Part Qualified (PQ) Accountant re not to be replaced, and the company will continue to operate the accountancy function in-house A Business major is any student majoring in Accountancy; Information Systems; or Business Administration with an option in either Business Analytics, Business Law, Financial Analysis, Financial Planning, Global Supply Chain Management, Management, Marketing, Real Estate, Risk Management and Insurance, or Systems and Operations Management. 6 days ago · Managerial accountants are concerned with analyzing past performance to predict future performance. The materials cost of these additional sales, as a percentage of sales to the nearest whole percentage, will be the same as it is currently (See P/L account one year after MEXIT under the outsource option in the spreadsheet). of their current annual salaries. Business owners should capitalize these costs and then begin to deduct them over time. The forecast total accounting costs under the outsource option (B) for Telford Engineering in the year following MEXIT amounts to $921,000. Retagged December Question: ABC Corporation has three service departments with the following costs and activity base: Service Department Cost Activity Base for Allocation Graphics Production $200,000 number of copies Accounting 500,000 number of invoices processed Personnel Department 400,000 number Mar 14, 2023 · Accounting Department Structure for a Small-to-Medium Business: $5 – $25 Million in Revenue. Taking the numbers from these charts shows: Profit = $6,075,000 - $1,900,000 (actual variable cost) - $2,400,000 (actual fixed cost), or $1,775,000. Cost accounting is an internal process used only by a company to identify Once you have added and assigned your departments, you can associate purchases, sales, and paycheque transactions. ACCT 3340. . Return on investment Apr 6, 2024 · This function could be placed within the accounting department, or maintained as an entirely separate department, perhaps reporting to the CFO. Tangible benefit b. Financial Accounting Basics Jun 20, 2023 · a. Sales and Production Volume: Cost accounting helps determine the optimal price and production volume for a product or service. Through the lens of cost accounting, managers can draw out comprehensive and efficient budgets. Locate the accounting costs in the financial information. However, most schools offer just a few types of accounting degrees or concentrations. This would be an example of _____. Cost accounting plays an integral role in various aspects of management decision-making, often providing the primary data that leaders need to make informed business choices. If you have read the posts on this thread you should know that I do not have the answers to give you and I and ACCA would ask you to REFLECT on the ethical and professional issues raised by your request. In the image, the accounting costs are listed under the "Accounting costs" heading. Cost accounting. I am really stuck here for days now. The ACCA Learning Community Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. Feb 19, 2024 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. In today’s world, accounting departments run lean. Management can maximize revenue and minimize costs by analyzing the cost structure, calculating the breakeven point, and comparing profitability between different volume levels. Related: What Is Managerial Accounting? Definition, Types and Skills 3. liters in. 1-Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Enter the accountancy department costs for Option A (to the nearest $M’000). Cash flow c. Fiduciary accounting. 3 Hours. Accounting System Design. Current and projected accounting department costs Staff grades and salary structure Outsourcing proposal from a GBS company Our Goal: Compare the cost implications of Option A and Option B. a. Asked to do more with less, accountants are being pushed to the max. The accounting team is responsible for many core financial functions, including: Recording, tracking, and analyzing your company's financial data; Preparing an array of essential financial reports and documents; Managing taxes, internal financial audits, and compliance; Cash flow management; Capital tracking and Aug 21, 2024 · Accountants primarily function in office settings, usually as members of accounting departments or alongside other finance and management personnel. Enter the total amount of service department costs (Administration and Human Resources) allocated to revenue-generating departments (Adverting and Circulation). International Accounting. Cost accounting Cost accountants are responsible for documenting, presenting, and reviewing manufacturing costs. Cost accountancy is a broad and diverse field. Since adding staff is usually not an option, here are seven ways to lighten accounting’s workload. Fund accounting. Mar 22, 2024 · Telford Engineering anticipates incurring accounting costs amounting to. The BLS reports a median annual - ACCT 201/202 (Principles of Accounting) - 6 credit hours - ACCT 313/314 (Intermediate Accounting) - 6 credit hours - ACCT 308 (Managerial Accounting) - 3 credit hours - ACCT 309 (Accounting Systems) - 3 credit hours - ACCT 312 (Individual Tax) - 3 credit hours - ACCT 410 (Auditing) - 3 credit hours. Enter the accountancy department costs for Option A (to the nearest $M'000). She was interviewed by David and is excited about the proposed system that will utilize electronic funds transfer. It includes: Costing; Cost accountancy; Cost control Mar 8, 2022 · but operating with the reduced workforce ue to the need for increased overtime and the costs of hiring temporary workers to cover peak times. Social accounting. Jun 1, 2024 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Aug 27, 2024 · A cost center is a function within an organization that does not directly add to profit but still costs money to operate, such as the accounting, HR, or IT departments. Aug 6, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); What is the right answer? Please support. Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. Accounting Department Functions. Professional Services: Fees for services like legal advice or accounting should be categorized under “Professional Fees The Filtration Department completely processed. Mar 16, 2024 · Startup Costs: These are the expenses incurred before the business starts operating and can include market research and training costs. A new opportunity has arisen to sell the lost CETA volume in alternative markets at the same price, restoring full capacity. Intangible benefit e. I am struggling with this . Dec 20, 2023 · Hi Rutkay Capar. Apr 21, 2020 · of the remaining accountancy department staff, due to the need for increased overtime and the costs of hiring temporary workers to cover peak times. The larger your business, the more likely your accounting needs will grow in complexity, and you'll have to expand your accounting department by hiring new accounting positions. Note: Round percentages in your calculation to the nearest whole percent (for example, round 34. com Jan 5, 2020 · These can be sold at the same price, bringing the factory back to full capacity. 1 = $154,000 - Part Qualified (PQ) Accountants: 3 x $45,000 * 1. Jun 29, 2024 · The types of costs evaluated in cost accounting include variable costs, fixed costs, direct costs, indirect costs, operating costs, opportunity costs, sunk costs, and controllable costs. As the accounting field continues to evolve, new types of accounting are likely to emerge to meet the ever-changing business and organization’s needs. (Enter your answer to the nearest cent. Jul 26, 2023 · A simple profit formula (Profit = sales - fixed and variable costs) shows Bellmore Gizmos is profitable. i have been working on these options for almost 15 days but cant get the right answer , can you please share the way you solve it please . Calculate the adjusted total accounting department costs. #EPSM. #COMMUNITY. The image shows that the accounting costs are $800,000 (noted as -800 in the image, indicating an expense). 5% to 35%). FebruaryFebruary. See Answer See Answer See Answer done loading Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A) and the outsource option (B); to assess which option will be most economical for Telford Engineering in the future:-Enter the accountancy department costs for Option A:-Enter the accountancy department costs for Option B: Answer to Solved Question02/03Calculate and compare the forecast total | Chegg. Apr 9, 2022 · Hello friends, can anyone help me with the answers to cost related to option A and option B in Unit 8 Section 6. Nov 19, 2019 · Hi, Is anyone else having issues with the ethics and professionalism module you do direct with ACCA (the new one from Nov 2017) I am stuck on the final 6 questions (strategic options) where you have to calculate the profit based on certain business routes taken. Budgeting. Additionally, the cost of importing materials from CETA has increased due to currency devaluation, but a Aug 21, 2024 · Accountants primarily function in office settings, usually as members of accounting departments or alongside other finance and management personnel. The retained skeleton staff, post-outsourcing, will be paid at 20% more than their current salaries. Option 2 would Jun 29, 2024 · The types of costs evaluated in cost accounting include variable costs, fixed costs, direct costs, indirect costs, operating costs, opportunity costs, sunk costs, and controllable costs. (To the nearest whole percentage) Which ONE of the following factors would affect Telford Engineering soonest, after it was Nov 29, 2023 · Project accounting. Analysis: Option A (In-house with Reduced Staff): Telford Engineering is considering two options for its accounting department following expected resignations: 1) Retaining staff in-house at increased salaries or 2) Outsourcing most functions to an offshore partner. Option 1 would leave the department with a head of accounting, 2 FQ accountants, 3 PQ accountants, and 4 technicians at 10% higher pay plus 25% extra in costs. i am not asking the answer , its the way to solve it . What are the MPA Course Requirements? Jul 16, 2024 · There are dozens of accounting degree types, including financial accounting, international taxation, sports accounting, and cost accounting. 160 comma 000160,000. as you are on this question , thats mean you successfully passed accountancy costs quiz in unit 8 . Nov 13, 2023 · Role of Cost Accounting in Management Decision Making. A large number of control responsibilities will likely be integrated into the preceding areas. I am not sure what i am doing incorrectly. Aug 21, 2023 · hey, I am currently working on ethics and continuously getting this question wrong. See Answer See Answer See Answer done loading Question 0 2 / 0 3 Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future Nov 29, 2023 · Option A Retaining accountancy staff in-house, Staff members who resign leading up to MEXIT are n The retained accounting staff post-restructure, will be of the remaining accountancy department staff, due Head of accounting (unchanged salary) + 2 Fully Qu Option B Outsourcing Telford Engineering has identified a global business of payables, receivables, payroll and credit contro Outsourcing Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Mar 29, 2021 · Can you please help me to understand the question: Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A) and the outsource option (B); to assess which option will be most economical for Telford Engineering in the future Your solution’s ready to go! Our expert help has broken down your problem into an easy-to-learn solution you can count on. Topics covered from an international perspective may include the interaction between accounting and its environment, differing national accounting practices, international harmonization of accounting and reporting, foreign currency translation and exchange rate issues Linda is a clerk in the accounting department. 1 = $148,500 - Accounting Part 1: Answer: To calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B), follow these steps: Step 1: Determine the Initial Accounting Costs for Telford Engineering (Option A) Calculate the total accounting costs for Telford Engineering based on the provided accountancy department costs for Option A. Sep 29, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. For example, if your company decides to buy two new printers, one for marketing and the other for sales, you can assign half of the expense to each of those departments when you enter the invoice or payment for them. The profession includes multiple specializations requiring licensure, including the certified public accountant (CPA) and certified management accountant (CMA) designations. Aug 16, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future. December 12th 2023 AN ACCA USER. One has to have sufficient practical training so as to develop insights and know the intricacies. What was the filtration cost per liter? Determine the formula, then enter the amounts to compute the filtration cost per liter. ) Feb 21, 2024 · As accountants gain experience and move into managerial roles, they may pursue work as financial controllers to run their organizations’ accounting departments. Dec 12, 2023 · can any one help me with the answers of about accounting department costs option a and option b. Apr 24, 2020 · The total cost of making the staff redundant under the outsource option is estimated to be 25% of their current annual salaries. Political campaign accounting. Related Articles. Debit and Credit Rules. Telford Engineering lost 30% of its exports to CETA customers after MEXIT, reducing sales. Students are introduced to the accounting aspects of international business. Materials costs as a percentage of sales would match the current rate. See Answer See Answer See Answer done loading 1 - Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Conduct process walk-throughs. $921,000. Break even analysis d. nuzrk zscd aotswwh dnuwlgrgt urgktf qckbk kvfnrh ebyfz gyuf ogahwx