Writing Reading, and Researching in My Major Essay

Writing Reading, and Researching in My Major - Essay Example Accounting major is a study concerned with the measurement, analysis, evaluation and reporting of information including computerized information which assists the managerial in organizing of the resources of business entities and government organization. The accounting major comprises of both theory and practice to prepare students for analysis and reporting regarding the economic activity of business organizations and communication of that information to managerial heads. In major, the students acquire skill in managerial accounting, accounting system, budgeting, internal contrails, financial analysis, taxation, internal and external auditing, financial reporting and international accounting. The major prepares the student for a range of careers in accounting in business of profit, non – profit and also for government firms. With a major in accounting a person will be able to work efficiently with interdisciplinary professionals and diverse stakeholders. They can interact with financial and non – financial audiences in a concise and clear manner by taking appropriate decision with reliability, relevancy and accusation. They can research on financial matters and analyze business data by applying management and accounting principles and understand the standards that apply to business reports. He a proficiently use current technology and analytical tools to work on business functions work integrally with team and facilitate on decision making. This major helps in taking critical thinking problem solving and validate processes, and analyzing financial data and apply current and emerging ethical standards. However the major in accounting has many requisites and the student who satisfy them can get an admission for the same. The reading done in accounting would be basically conceptual framework of accounting. The financial accounting standards

Activity Based Cost accounting system Math Problem

Activity Based Cost accounting system - Math Problem Example In this case study, the supporting excel computations show that overhead using the traditional cost accounting procedure resulted only P137,994.00 for Lever, P22,079.04 for Spring, and finally P 16,559.28 for pump products. Total manufacturing cost also under the traditional or old fashioned cost accounting procedure resulted to the usual Direct Materials cost of the products P 510,000.00 for Lever, P163,200.00 for Spring, and P 139,200.00 for Pump. Another accounting cost for resulting from the Traditional Cost Accounting procedure is the Regular item Direct labor of P 2,160,000.00 for Lever, P163,200.00 for Spring and again P16,560.00 for Pump. The total manufacturing cost under the Traditional method is the sum of Direct Materials, Direct labor and Overhead. P2,807,994.00 for Lever, P348,479.04 for Spring, and finally P 172,319.28 for pump products. Under the Activity Based Costing, The first cost driver is called VOLUME DRIVER showing amount of P 286,000.00 for Lever, P45,760.00 for Spring and P 34,320.00 for Pump. Another driver in this systems is the PURCHASING DRIVER. The purchasing cost for Lever products is P 14,810,000.00 and P2,369,600 for Spring and, the last item, P 1,777,200.00 for Pump. The next driver is the SET UP driver. Set up driver cost are P 38,533,000.00 and P 6,165,280.00 for Spring and of course P 4,623,960.00 for the last item, Pump. The cost drivers are higher than the total manufacturing cost of the traditional cost accounting system. In this new system, the cost factors can easily be traced to determine what the effects of these costs are to over all manufacturing operations. Some cost activities that will not help in the manufacturing process but sometimes, their costs are included in the factory cost of production in error. The Purchasing cost driver will display if the inventory cost is too high or too low or even unnoticed thus affecting the decision making process of management. Traditional Cost Accounting Direct Materials Lever (100,000