accounting hmwk

6 Managerial Accounting questions

 

Each question must be answered in at least a 100 words.

Going back to last week’s Assignment.    There are some buzz words associated with whether or not a cost is Direct or Indirect.

If a cost is direct, it’s easily traceable to an object.  If it’s indirect, it’s not easily traceable and thus a cost that is usually allocated.  In other words, if the costs of parts for Job #123 are ordered, they can be directly traced to Job #123 and all of it’s cost documents.   However, if we needed to find the exact amount of the electric bill that is applicable to Job #123, that would be a very time consuming task that probably wouldn’t provide enough benefit given the cost to find the information.

Buzzwords:

Direct–>Traceable

Indirect–>Allocated

Can these also be classified as Fixed/Variable?  If so, are they also Controllable?

 

 

I worked at a place where the belief is that Accounts Payable is the foundation of all the financial activity.  What do you think about  this?

 

 

Are the accounting job requirements and/or skill sets required helpful in other professions?  If so, how?

 

In an effort to spur some career minded thought, what could be some selling points we could discuss when trying to go from Accountant to Controller then Controller to CFO.  What would some common traits be?   This is ‘indirectly’ related to our course, but I want you all to be thinking of how these courses can possibly relate to job skills and how you’d present them in an interview.

Any thoughts on how an Accountant could go to Controller or how a Controller could proceed to a CFO?

 

Can we make an argument for or against having a high fixed cost structure?  How about a high variable cost structure?

 

In prior courses, interesting comments have been made on how no cost is uncontrollable.  What about energy costs or utility costs?  We sometimes have NO choice on what vendor to use (monopolistic competition, etc.).   How can we go about controlling costs in this scenario?  Is that even possible? 

We run into this where I work with CL&P – one of 4 major utility companies in our state.   We really hate their billing platform – or lack thereof.  We get no itemization on their bills, yet we’re stuck with them.  We have no possible way of truly analyzing what our electrical costs are and we’re stuck.  

Any thoughts on how to control costs with monopolistic competition?

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I am willing to pay $4 each question for a total of $24. I need solutions in about 2hrs from now. Please let me know immediatly so we can do handshake. Thk u

 

 

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