Overhead costs are indirect costs that cannot be directly assigned to a cost center. Utilities, rent and telephone expenses could be examples of overhead costs.Ĥ.   What are the two major components of the controlling module (CO)?Ĭonfiguration and application. The purpose of configuration is to customize CO to meet the specific needs of the client. The application component supplies the tools necessary for internal reporting and analysis.ĥ.   Please list the five CO sub modules. 1.   Describe the major differences between Managerial Accounting and Financial Accounting.ĭata is used by managers at various levels within the company.ĭata is used by outside parties like banks, investors and other stakeholdes.Ī cost object is a responsibility center, project, product or other item for which a separate measurement of cost is desired. Cost objects are defined by management. Cost objects can include cost centers, projects and activities.ģ.   Describe overhead costs and provide an example.
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