06-04-2004, 03:13 PM
Hi, Cecosian,
Here goes your wish.
Cost and Management Accounting
Traditional accounting is often looked on as a way of meeting legal and tax requirements, and telling a businessman how much profit he made 18 months ago, including whether or not he went bust. It is not regarded as being particularly helpful as a source of information in the day to day running of the business, or even for strategic decision making. Cost and Management accounting is the opposite in some ways. It is concerned with using current and very recent accounting and other data to help the busy manager to take better informed decisions. Budgetary control, stock control, treasury management, cost control, cost analysis, dividend policy, profitability analysis by product, by region, etc. are all very much what Cost & Management accounting is all about.
Computers in Cost and Management Accounting
Computers are wondrous machines that improve our lives in many areas like education, entertainment, and work. The use of computers in and out of Business has made improvements in the way we learn. For instance, âthe use of computers in the accountancy has freed up a lot of our time.
In our society today, computer technology plays an important role in many form of business, especially in the field of Cost & Management accounting. As technology advances, not only does the use of computers penetrate individual's everyday life, it also helps to mange and improves many business operations from service, manufacturing to retail.
A generation ago, an accountantâs tools would probably have consisted of a pencil and sharpener, a hand-cranked calculator and a columnar pad. An electric pencil sharpener in those days was a high-tech accessory. Today the only one of those tools that you might find in an accountants office would be the pencil and sharpener. Replacing everything else are computers. Mostly personal computers (PCs), and their high-tech accessories and software products that do more than the hand-cranked calculators could ever think of doing. Itâs taken years for accountants to adapt to computer technology.
There are few areas more central to company operations than cost and management accounting. Add the implementation of a computerized accounting system and employment opportunities in this field are boundless. So keeping all this in view computers have become some what indispensable.
In cost and Management Accounting the computers are now being used to perform tasks such as by-product costing, standard costing, variance analysis, cost analysis, stock recording, developing what-if business scenarios with spreadsheets, preparing detailed cost trends, and keeping track of per unit costs etc. Above all the record can be manipulated, sorted, analyzed, summarized, and turned into desired reports with ease. This results in quick outputs. The reports are generated in flash of a second with out compromising on the reliability and accuracy.
..Hammad..
Here goes your wish.
Cost and Management Accounting
Traditional accounting is often looked on as a way of meeting legal and tax requirements, and telling a businessman how much profit he made 18 months ago, including whether or not he went bust. It is not regarded as being particularly helpful as a source of information in the day to day running of the business, or even for strategic decision making. Cost and Management accounting is the opposite in some ways. It is concerned with using current and very recent accounting and other data to help the busy manager to take better informed decisions. Budgetary control, stock control, treasury management, cost control, cost analysis, dividend policy, profitability analysis by product, by region, etc. are all very much what Cost & Management accounting is all about.
Computers in Cost and Management Accounting
Computers are wondrous machines that improve our lives in many areas like education, entertainment, and work. The use of computers in and out of Business has made improvements in the way we learn. For instance, âthe use of computers in the accountancy has freed up a lot of our time.
In our society today, computer technology plays an important role in many form of business, especially in the field of Cost & Management accounting. As technology advances, not only does the use of computers penetrate individual's everyday life, it also helps to mange and improves many business operations from service, manufacturing to retail.
A generation ago, an accountantâs tools would probably have consisted of a pencil and sharpener, a hand-cranked calculator and a columnar pad. An electric pencil sharpener in those days was a high-tech accessory. Today the only one of those tools that you might find in an accountants office would be the pencil and sharpener. Replacing everything else are computers. Mostly personal computers (PCs), and their high-tech accessories and software products that do more than the hand-cranked calculators could ever think of doing. Itâs taken years for accountants to adapt to computer technology.
There are few areas more central to company operations than cost and management accounting. Add the implementation of a computerized accounting system and employment opportunities in this field are boundless. So keeping all this in view computers have become some what indispensable.
In cost and Management Accounting the computers are now being used to perform tasks such as by-product costing, standard costing, variance analysis, cost analysis, stock recording, developing what-if business scenarios with spreadsheets, preparing detailed cost trends, and keeping track of per unit costs etc. Above all the record can be manipulated, sorted, analyzed, summarized, and turned into desired reports with ease. This results in quick outputs. The reports are generated in flash of a second with out compromising on the reliability and accuracy.
..Hammad..
